Abstract
Ethical Mutual Funds (EMF) stand out for their investments in companies that develop strategies based on Corporate Social Responsibility (CSR) through good practices of Corporate Governance (CG). The aim of this paper is to analyze the types of companies that make up the portfolio of Spanish EMF, taking into account their cg model, their organizational structure and their economic and financial aspects. The results obtained show that the Spanish EMF prefer companies that promote the participation of stakeholders in their organizational structure and accessibility to their information. Additional evidence shows that the development of good cg practices in the context of CSR favors access to financing provided by financial markets and, within them, the EMF.
Publisher
Universidad Nacional de Colombia
Subject
Marketing,Strategy and Management,Public Administration,Sociology and Political Science,Accounting
Reference82 articles.
1. Andreu-Sánchez, L, Ortiz-Lázaro, C., & Sarto-Marzal, J. L. (2010). Inter-nacionalización de la industria española de fondos de inversión y cambios de categorías. Innovar, 20(37), 195-206.
2. Aras, G., & Crowther, D. (2008). Governance and sustainability: An investigation into the relationship between corporate governance and corporate sustainability. Management Decision, 46(3), 433-448.
3. Armstrong, C. S., Guay, W. R., & Weber, J. P. (2010). The role of information and financial reporting in corporate governance and contracting. Journal of Accounting and Economics, 50, 179-234.
4. Aslaksen, I., & Synnestvedt, T. (2003). Ethical investment and the incentives for corporate environmental protection and social responsibility. Corporate Social Responsibility and Environmental Management, 10(4), 212-223.
5. Belkaoui, A., & Pavlik, E. (1992). The effects of ownership structure and diversification strategy on performance. Managerial and Decision Economics, 13(4), 343-352.
Cited by
4 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献