Socially responsible investing: An application of Catholic social thought

Logos - Journal of Catholic Thought and Culture

Volumn 6, Issue 1, 2003, Pages 63-99

  Beabout, Gregory R ^a   Schmiesing, Kevin E ^a  

^a NONE

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[No Author keywords available]

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EID: 60950393531     PISSN: 10916687     EISSN: 1533791X     Source Type: Journal    
DOI: 10.1353/log.2003.0003     Document Type: Review

References (37)

1. Ecclesiam Suam, n. 97
2. Centesimus Annus, n. 35
3. Hal Brill, Jack A. Brill, and Cliff Feigenbaum, Investing with Your Values: Making Money and Making a Difference (Princeton, N.J.: Bloomberg, 1999), 33-34
4. Elizabeth Judd, Investing with a Social Conscience (New York: Pharos Books, 1990), 10-11
5. Ritchie P. Lowry, Good Money: A Guide to Profitable Social Investing in the '90s (New York: W.W. Norton, 1991), 26
6. Lowry, Good Money, 26
7. "After South Africa: The State of Socially Responsible Investing in the United States," 1995 Trends Report of the Social Investment Forum, at www.socialinvest.org/areas/research/trends/1995-Trends.htm
8. Brill, Brill, and Feigenbaum, Investing with Your Values, 51
9. Amy L. Domini with Peter D. Kinder, Ethical Investing (Reading, Mass.: Addison-Wesley, 1984)
10. Judd, Investing with a Social Conscience, 2
11. These generalizations are based on percentage figures given at www.socialinvest.org/areas/sriguide/mfsc.cfm
12. www.aquinasfunds.com/news.html
13. "Morality Pays," Economist, 8 July 2000, 79. It should be noted that the data used for this article were collected prior to the significant stock market downturn beginning in 2000. It may be that the analysis of the profitability of SRI will have to be modified after determining how SRI fares in the context of a bear market
14. For further treatment of these topics, see S. A. Cortright and Michael J. Naughton, eds., Rethinking the Purpose of Business: Interdisciplinary Essays from the Catholic Social Tradition (Notre Dame, IN: University of Notre Dame Press, 2002)
15. Milton Friedman, "The Social Responsibility of Business Is to Increase Its Profits," The New York Times Magazine, 13 September 1970
16. See Anthony F. Buono and Lawrence T. Nichols, "Stockholder and Stakeholder Interpretations of Business' Social Role," in W. M. Hoffman and J. M. Moore, eds., Business Ethics (New York: McGraw Hill, 1990), 170-75
17. Also see Thomas Donaldson and Lee E. Preston, "The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications," Academy of Management Review 20 (1995): 65-91
18. See R. Edward Freeman, Strategic Management: A Stakeholder Approach (Boston: Pitman, 1984), 46: "A stakeholder in an organization is (by definition) any group or individual who can affect or is affected by the achievement of the organization's objectives."
19. See Irving S. Shapiro, "Power and Accountability: The Changing Role of the Corporate Board of Directors," in Hoffman and Moore, Business Ethics, 219-30
20. Severyn T. Bruyn, The Field of Social Investment (Cambridge: Cambridge University Press, 1987), 53
21. Centesimus Annus, n. 48
22. Bruyn, Field of Social Investment, 68
23. For brief treatments of the topic, see Gaudium et Spes, n. 70
24. and Centesimus Annus, n. 36
25. See for example the statement of the National Conference of Catholic Bishops, "Socially Responsible Investment Guidelines," November 1991, available in Origins, 28 November 1991, 21: 25 and at www.nccbuscc.org/finance/ srig.htm
26. Also see the brief 1986 statement of the archdiocese of Baltimore, "Policy Statement on Responsible Investing," Origins, 29 May 1986, 16: 2
27. Thomas Aquinas, Summa Theologiae, I-II, 94, 2
28. Thomas Aquinas, Summa Theologiae, II-II, 64, 7
29. For a treatment of double effect by contemporary philosophers, see the essays in P. A. Woodward, The Doctrine of Double Effect (Notre Dame: University of Notre Dame Press, 2001)
30. For a detailed treatment of this topic, see Germain Grisez, Difficult Moral Questions (Quincy, Ill.: Franciscan Press, 1997), App. 2: "Formal and material cooperation in others' wrongdoing," 871ff
31. St. Alphonsus Ligouri, Theologia moralis, ed. L. Gaude, 4 vols. (Rome: Ex Typographia Vaticana, 1905-12) 1:357
32. Quoted in Grisez, Difficult Moral Questions, 876
33. See the NCCB statement, "Socially Responsible Investment Guidelines," Part I, B: "Principles of Stewardship."
34. Peter Kinder, et. al., Investing for Good (New York: Harper, 1993), 220
35. David Ratner, "Government of Business Corporations," 25-26. Quoted in Kinder, Investing for Good, 222
36. Kinder, Investing for Good, 220
37. Quadragesimo Anno, n. 42