Ranking Socially Responsible Mutual Funds Based on the Particular Preferences of the Decision Maker

Ana B. Ruiz (), Bouchra M’Zali () and Paz Méndez-Rodrı́guez ()
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Ana B. Ruiz: University of Málaga
Bouchra M’Zali: Affiliated Researcher at CRG-ESCA, ESG-UQAM
Paz Méndez-Rodrı́guez: Universidad de Oviedo

Chapter Chapter 12 in Socially Responsible Investment, 2015, pp 227-262 from Springer

Abstract: Abstract Several methods for ranking mutual funds based on financial performance have been developed, but few of them propose a ranking methodology based on their non-financial performance. The aim of this chapter is to present two ranking methods for mutual funds based on their socially responsible performance. The ranking approaches suggested can be understood as complement financial information which can help socially responsible mutual fund managers, individual and institutional investors in their portfolio selection process. Both methods use multiple criteria decision analysis (MCDA) techniques, namely, one is based on AHP (Analytic Hierarchy Process) and the other one apply MACBETH (Measuring Attractiveness by a Categorical Based Evaluation Technique). The results reveal that an integrated framework using multiple criteria decision analysis (MCDA) techniques could help the investor in selecting a suitable socially responsible mutual funds portfolio, because the consideration of several criteria reflect more precisely the multiple dimensions of this decision making problem.

Keywords: Social Responsibility; Analytic Hierarchy Process; Mutual Fund; Responsible Performance; Analytic Hierarchy Process Model (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isochp:978-3-319-11836-9_12

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DOI: 10.1007/978-3-319-11836-9_12

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