How does the Market Price of the Corporate Sponsor React to Socially Responsible Fund Introductions?
Jonathan Peillex and
Additional contact information
Jonathan Peillex: CRIISEA, University of Picardie Jules Vernes
Loredana Ureche-Rangau: CRIISEA, University of Picardie Jules Vernes
Bankers, Markets & Investors, 2014, issue 131, 17-29
This paper studies the impact of a Socially Responsible (SR) fund launch on the market price of the corporate sponsor promoting the fund. Our evidence suggests that while overall the introduction of a SR fund does not increase, on the short run, the market value of the corporate sponsor, the market reaction to such announcements evolved through time from very skeptical in the early stages of the SR funds industry to positive over the most recent years. Moreover, SR funds launching during periods of market stress is more rewarding than the same strategy under normal market conditions, while the introduction of multiple funds simultaneously also leads to a short run increase of the market value of the corporate sponsor.
Keywords: Corporate Sponsor; Ethical Finance; Event Study; SR Funds (search for similar items in EconPapers)
JEL-codes: G14 G21 G23 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
http://www.revue-banque.fr/article/how-does-market ... e-sponsor-react-soci (text/html)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:rbq:journl:i:131:p:17-29
Ordering information: This journal article can be ordered from
12 rue du Quatre-Septembre, 75002 PARIS France
Access Statistics for this article
More articles in Bankers, Markets & Investors from ESKA Publishing
Bibliographic data for series maintained by Marise Urbano ().