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The maturing of socially responsible investment: a review of the developing link with corporate social responsibility

Cowton, Christopher J. and Sparkes, R. (2004) The maturing of socially responsible investment: a review of the developing link with corporate social responsibility. Journal of business ethics, 52 (1). pp. 45-57. ISSN 1573-0697

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    Abstract

    This paper reviews the development of
    socially responsible investment (SRI) over recent years
    and highlights the prospects for an increasingly strong
    connection with the practice of corporate social responsibility. The paper argues that not only has SRI grown
    significantly, it has also matured. In particular, it has become an investment philosophy adopted by a growing
    proportion of large investment institutions. This shift in
    SRI from margin to mainstream and the position in which institutional investors find themselves is leading to
    a new form of SRI shareholder pressure. Although this
    bears some resemblance to lobbying campaigns which
    might take advantage of shareholder rights, we seek to
    distinguish it as an important phenomenon in its own
    right – one to which corporate executives are likely to be
    paying increasing attention in the years to come. We
    further argue that this approach potentially meets some of
    the earlier ethical criticisms of certain forms of SRI but,
    ironically, probably owes its existence to those pioneering
    approaches. We conclude with some suggestions for
    further research to inform discussion of the issues highlighted in the paper.

    Item Type: Article
    Additional Information: UoA 35 (Accounting and Finance) © 2004 Kluwer Academic Publishers.
    Subjects: H Social Sciences > HG Finance
    H Social Sciences > H Social Sciences (General)
    H Social Sciences > HJ Public Finance
    Schools: The Business School
    The Business School > Financial Ethics and Governance Research Group
    Related URLs:
    References:

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    Depositing User: Sara Taylor
    Date Deposited: 08 Mar 2007
    Last Modified: 28 Jul 2010 19:19
    URI: http://eprints.hud.ac.uk/id/eprint/136

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