Abstract
During the last few decades, globalization of finance markets has come under increasing pressure to manage the many risks that companies face due to the negative impact that certain financial crises have had on securities quoted on the stock exchange. Simultaneously, there is a growing tendency among different institutional investors to take into account nonfinancial aspects - social, environmental, and ethical values - of company management. In this respect, increasing numbers of asset managers are aware of the importance of nonfinancial aspects of company management for finance markets. Asset managers integrate corporate social responsibility, sustainability policies and corporate governance strategies as indicators in risk management and the search for long-term investments. The largest segment of socially responsible investment (SRI) screened and mutual funds are portfolios that are privately managed on behalf of institutions. Socially responsible investors include private and public pension funds, mutual funds, and private accounts that are managed on behalf of institutional investors such as corporations, universities, hospitals, religious institutions, and nonprofit organizations, among others. The aim of this paper is to analyze the development of SRI-screened management corporate pension plans in the Spanish finance market. Spain is one of the European countries with a less developed SRI institutional market. Since SRI is still at the fledgling stage in the Spanish institutional market, this analysis is restricted to the awareness of SRI among a sample of the total number of corporate pension funds or schemes in Spain. The paper concludes with some proposals to encourage wider SRI acceptance and practice in Spain.
| Original language | English |
|---|---|
| Pages (from-to) | 31-57 |
| Number of pages | 27 |
| Journal | Business and Society |
| Volume | 114 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 2009 |
Access to Document
Other files and links
Fingerprint
Dive into the research topics of 'The challenges of socially responsible investment among institutional investors: Exploring the links between corporate pension funds and corporate governance'. Together they form a unique fingerprint.
Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver
Albareda, L., & Franch, M. R. B. (2009). The challenges of socially responsible investment among institutional investors: Exploring the links between corporate pension funds and corporate governance. Business and Society, 114(1), 31-57. https://doi.org/10.1111/j.1467-8594.2009.00334.x
Albareda, Laura ; Franch, María Rosario Balaguer. / The challenges of socially responsible investment among institutional investors : Exploring the links between corporate pension funds and corporate governance. In: Business and Society. 2009 ; Vol. 114, No. 1. pp. 31-57.
@article{1de8d9427dbd4ec6970dcad0589d1f5e,
title = "The challenges of socially responsible investment among institutional investors: Exploring the links between corporate pension funds and corporate governance",
abstract = "During the last few decades, globalization of finance markets has come under increasing pressure to manage the many risks that companies face due to the negative impact that certain financial crises have had on securities quoted on the stock exchange. Simultaneously, there is a growing tendency among different institutional investors to take into account nonfinancial aspects - social, environmental, and ethical values - of company management. In this respect, increasing numbers of asset managers are aware of the importance of nonfinancial aspects of company management for finance markets. Asset managers integrate corporate social responsibility, sustainability policies and corporate governance strategies as indicators in risk management and the search for long-term investments. The largest segment of socially responsible investment (SRI) screened and mutual funds are portfolios that are privately managed on behalf of institutions. Socially responsible investors include private and public pension funds, mutual funds, and private accounts that are managed on behalf of institutional investors such as corporations, universities, hospitals, religious institutions, and nonprofit organizations, among others. The aim of this paper is to analyze the development of SRI-screened management corporate pension plans in the Spanish finance market. Spain is one of the European countries with a less developed SRI institutional market. Since SRI is still at the fledgling stage in the Spanish institutional market, this analysis is restricted to the awareness of SRI among a sample of the total number of corporate pension funds or schemes in Spain. The paper concludes with some proposals to encourage wider SRI acceptance and practice in Spain.",
author = "Laura Albareda and Franch, {Mar{\'i}a Rosario Balaguer}",
year = "2009",
doi = "10.1111/j.1467-8594.2009.00334.x",
language = "English",
volume = "114",
pages = "31--57",
journal = "Business and Society",
issn = "0007-6503",
publisher = "Wiley-Blackwell Publishing Ltd",
number = "1",
}
Albareda, L & Franch, MRB 2009, 'The challenges of socially responsible investment among institutional investors: Exploring the links between corporate pension funds and corporate governance', Business and Society, vol. 114, no. 1, pp. 31-57. https://doi.org/10.1111/j.1467-8594.2009.00334.x
The challenges of socially responsible investment among institutional investors: Exploring the links between corporate pension funds and corporate governance. / Albareda, Laura; Franch, María Rosario Balaguer.
In: Business and Society, Vol. 114, No. 1, 2009, p. 31-57.
Research output: Indexed journal article › Article › peer-review
TY - JOUR
T1 - The challenges of socially responsible investment among institutional investors
T2 - Exploring the links between corporate pension funds and corporate governance
AU - Albareda, Laura
AU - Franch, María Rosario Balaguer
PY - 2009
Y1 - 2009
N2 - During the last few decades, globalization of finance markets has come under increasing pressure to manage the many risks that companies face due to the negative impact that certain financial crises have had on securities quoted on the stock exchange. Simultaneously, there is a growing tendency among different institutional investors to take into account nonfinancial aspects - social, environmental, and ethical values - of company management. In this respect, increasing numbers of asset managers are aware of the importance of nonfinancial aspects of company management for finance markets. Asset managers integrate corporate social responsibility, sustainability policies and corporate governance strategies as indicators in risk management and the search for long-term investments. The largest segment of socially responsible investment (SRI) screened and mutual funds are portfolios that are privately managed on behalf of institutions. Socially responsible investors include private and public pension funds, mutual funds, and private accounts that are managed on behalf of institutional investors such as corporations, universities, hospitals, religious institutions, and nonprofit organizations, among others. The aim of this paper is to analyze the development of SRI-screened management corporate pension plans in the Spanish finance market. Spain is one of the European countries with a less developed SRI institutional market. Since SRI is still at the fledgling stage in the Spanish institutional market, this analysis is restricted to the awareness of SRI among a sample of the total number of corporate pension funds or schemes in Spain. The paper concludes with some proposals to encourage wider SRI acceptance and practice in Spain.
AB - During the last few decades, globalization of finance markets has come under increasing pressure to manage the many risks that companies face due to the negative impact that certain financial crises have had on securities quoted on the stock exchange. Simultaneously, there is a growing tendency among different institutional investors to take into account nonfinancial aspects - social, environmental, and ethical values - of company management. In this respect, increasing numbers of asset managers are aware of the importance of nonfinancial aspects of company management for finance markets. Asset managers integrate corporate social responsibility, sustainability policies and corporate governance strategies as indicators in risk management and the search for long-term investments. The largest segment of socially responsible investment (SRI) screened and mutual funds are portfolios that are privately managed on behalf of institutions. Socially responsible investors include private and public pension funds, mutual funds, and private accounts that are managed on behalf of institutional investors such as corporations, universities, hospitals, religious institutions, and nonprofit organizations, among others. The aim of this paper is to analyze the development of SRI-screened management corporate pension plans in the Spanish finance market. Spain is one of the European countries with a less developed SRI institutional market. Since SRI is still at the fledgling stage in the Spanish institutional market, this analysis is restricted to the awareness of SRI among a sample of the total number of corporate pension funds or schemes in Spain. The paper concludes with some proposals to encourage wider SRI acceptance and practice in Spain.
UR - http://www.scopus.com/inward/record.url?scp=62349102346&partnerID=8YFLogxK
U2 - 10.1111/j.1467-8594.2009.00334.x
DO - 10.1111/j.1467-8594.2009.00334.x
M3 - Article
AN - SCOPUS:62349102346
SN - 0007-6503
VL - 114
SP - 31
EP - 57
JO - Business and Society
JF - Business and Society
IS - 1
ER -
Albareda L, Franch MRB. The challenges of socially responsible investment among institutional investors: Exploring the links between corporate pension funds and corporate governance. Business and Society. 2009;114(1):31-57. doi: 10.1111/j.1467-8594.2009.00334.x
