National culture and socially responsible fund flows

Chiraz Labidi, Dorra Laribi and Loredana Ureche-Rangau

Emerging Markets Review, 2021, vol. 46, issue C

Abstract: We investigate the impact of national culture on socially responsible investment (SRI) fund flows. Drawing on prior literature suggesting that non-financial attributes and social preferences explain SRI decisions, we hypothesize that cultural traits may drive SRI fund flows. We use a dataset covering mutual funds from 45 countries over the period 1997 to 2019. Our results reveal that higher SRI flows are associated with low masculinity and uncertainty avoidance and, to a lesser extent, to high religiosity.

Keywords: National culture; Ethical/socially responsible investment; Mutual fund flows (search for similar items in EconPapers)
JEL-codes: G11 G15 G41 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:46:y:2021:i:c:s1566014120300960

DOI: 10.1016/j.ememar.2020.100751

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