Socially (ir)responsible investing? The performance of the VICEX Fund from a business cycle perspective
Amparo Soler-Domínguez and
Juan Carlos Matallín-Sáez
Finance Research Letters, 2016, vol. 16, issue C, 190-195
Abstract:
We assess the performance of the VICEX Fund, which lies at the opposite end of the spectrum to socially responsible mutual funds (SRMF). This fund is morally controversial due to its higher return premium on investments in well-established vice companies. The empirical findings provide sufficient evidence to demonstrate that the VICEX Fund outperforms the market and provides higher return premiums than SRMF during expansion periods, but underperforms during times of economic distress. Our findings suggest a link between performance of funds and economic resilience. The VICEX Fund offers investors an excellent opportunity endorsed by its long-run sustainable performance.
Keywords: Performance; Vice; Socially responsible; Investment behavior (search for similar items in EconPapers)
JEL-codes: G11 G23 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:16:y:2016:i:c:p:190-195
DOI: 10.1016/j.frl.2015.11.003
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