Responsible investing in South Africa

Investment Analysts Journal

Volumn 69, Issue 1, 2009, Pages 3-16

  Viviers, S ^a   Bosch, J K ^a   Smit, Evdm ^b   Buijs, A ^c  

^a NELSON MANDELA METROPOLITAN UNIVERSITY   (South Africa)

^b UNIVERSITY OF STELLENBOSCH BUSINESS SCHOOL   (South Africa)

^c UTRECHT UNIVERSITY   (Netherlands)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 72649098243     PISSN: 10293523     EISSN: 20770227     Source Type: Journal    
DOI: 10.1080/10293523.2009.11082505     Document Type: Article

References (98)

1. 2006 Fearless Forecast: What do investment managers think about responsible investing? 2006.
2. Mercer Investment Consulting. March, Available: http://www.mercerIC.com [Accessed 22 September 2006].
3. Alexander Forbes Asset Consultants Targeted Development Investment Vehicles Manager Watch Survey September 2006. 2006. Available: http://www.aforbes.co.za/AfricaFinancial/financial_assetcons.htm [Accessed 15 October 2006].
4. th annual conference of the Australian Ethical Investment Association, Sydney, 21-22 September.
5. Ambachtsheer J, Myllynen J and Nuzum R. 2006. Perspectives on responsible investing - A survey of US pension plans, foundations an endowments and other long-tern savings pools. Mercer Investment Consulting. January, Available: http:///www.mercerIC.com [Accessed 22 September 2006].
6. Aupperle KE, Carroll AB and Hatfield JD. 1985. An empirical examination of the relationship between corporate social responsibility and profitability. Academy of Management Journal, 28(2):446-463.
7. Bacher D. 2004. Fondse belê traag in etiese beleggings. Sake Rapport, 12 September:4.
8. Baue W. 2002. South African fund applies socially responsible investing principles. SocialFunds, 13 May, Available: http://www.socialfunds.com/news/article.cgi/841.html [Accessed 1 December 2002].
9. Bauer R, Koedijk K and Otten R. 2005. International evidence on ethical mutual fund performance and investment style. Journal of Banking and Finance, 29(7):1751-1767.
10. Bauer R, Otten R and Rad AT. 2006. Ethical investing in Australia: is there a financial penalty? Pacific-basin Finance Journal, 14(1):33-48.
11. Barrow C, Brown R and Clark L. 2001. The Business Entrepreneurship Handbook. The Sunday Times: London.
12. Beckwith N. 2004. Promoting socially responsible investing. Jakarta Post, 21 June, Available: http://wwwthejakartapost.com [Accessed 1 September 2004].
13. Belsie L. 2001. Fending off stealthy growth of porn. Christian Science Monitor, 93(49):20.
14. Bridge S. 1999. Empowerment finance deals come of age. Business Times, 14 March, Available: http://www.btimes.co.za/99/0314/comp/comp18.htm [Accessed 5 October 2006].
15. Cameron B. 2006. State pension fund to turn up heat on corporate SA. Personal Finance, 26 May, Available: http://www.persfin.co.za/index.php?fSectionId=595&fArticleId=3264739 [Accessed 29 May 2006].
16. Christian Investment Services. 2007. Available: http://www.christianinvestmentservices.com
17. Cowton C. 1998. Socially responsible investment. Encyclopaedia of Applied Ethics, 4:181-190.
18. Cranston S. 2004. Too much money, too few deals. Financial Mail, 13 August, Available: http://free.financialmail.co.za/report04/sanlam04/msanlam.htm [Accessed 22 August 2006].
19. Crosswalk.com. 2006. Available: http://www.crosswalk.com
20. nd edition. Johannesburg: African Institute of Corporate Citizenship.
21. De Cleene, S. 2002. Corporate social responsibility in South Africa. Johannesburg: African Institute of Corporate Citizenship.
22. Dow Jones Sustainability Indexes. 2007. Available: http://www.sustainability-index.co
23. Du Preez L. 2005. Investing beyond the bottom line. Personal Finance, 1st Quarter:32-45.
24. Ethical considerations for Quaker investors. 2001. Available: http://wwwquakerbusiness.org/Ethical-Invest.html [Accessed 1 July 2004].
25. Frater Asset Management corporate website. 2007. Available: http://www.fraters.co.za
26. FTSE/JSE Socially Responsible Investment (SRI) Index. 2007. Available: http://www.jse.co.za/sri/
27. FTSE4GOOD Indices. 2007. Available: http://www.ftse4good.com/Indices/index.jsp
28. FundsData. 2006. Funds by name index. Available: http://www.fundsdata.co.za/UDT/data/fundlist.html
29. Goldreyer EF and Diltz JD. 1999. The performance of socially responsible mutual funds: Incorporating socio- political information in portfolio selection. Managerial Finance, 25(1):23-36.
30. Graves SB and Waddock SA. 1994. Institutional investors and corporate social performance. Academy of Management Journal, 37(4):1034-1046.
31. Guay T, Doh JP and Sinclair G. 2004. Non-governmental organizations, shareholder activism and socially responsible investments: Ethical, strategic and governance implications. Journal of Business Ethics, 52(1):125-139.
32. Guerard JB Jr. 1997a. Is there a cost to being socially responsible in investing? Journal of Investing, 6(2):11- 19.
33. Guerard JB Jr. 1997b. Additional evidence of the cost of being socially responsible in investing. Journal of Investing, 6(4):31-35.
34. Healing J. 2005. Social investments give great returns. Sunday Times, 29 May:18.
35. Heese K. 2005. The development of socially responsible investment in South Africa: Experience and evolution of SRI in global markets. Development Southern Africa, 22(5):729-739.
36. Heinkel R, Kraus A and Zechner J. 2001. The effect of green investment on corporate behaviour. Journal of Financial and Quantitative Analysis, 36(4):431-449.
37. Hillman, A.J. and Keim, G.D. 2001. Shareholder value, stakeholder value and social issues: what's the bottom line. Strategic management journal, 22:125-139.
38. Holland T. 2002. Ethics pay in the long run. Far Eastern Economic Review, 165(15):49-51.
39. Horsley S. 2004. Socially-targeted investment: Strategy paper - National labour and economic development institute. Available: http://www.naledi.org.za/docs/sri-sh04.pdf [Accessed 1 April 2005].
40. iHilal Financial Services. 2007. Available: http://www.ihilal.com
41. Kinder PD and Domini AL. 1997. Social screening: paradigms old and new. Journal of Investing, 6(4):12-20.
42. King II report on corporate governance in South Africa. 2002. King Committee on Corporate Governance. Johannesburg: Institute of Directors.
43. KLD Indexes. 2007. Available: http://www.kld.com/indexes/index.html
44. Knoll MS. 2002. Ethical screening in modern financial markets: The conflicting claims underlying socially responsible investment. The Business Lawyer, 57(2):681-726.
45. Larmer R. 1997. The ethics of investing: A reply to William Irvine. Journal of Business Ethics, 16(1):397-400.
46. Leeman M. 2005. Sifting through socially responsible investment jargon. Business Report, 8 February:9.
47. Leeman M. 2003. SRI in South Africa. Presentation to the Canadian Social Investment Forum. July, Toronto: 1-10.
48. Lindlof TR. 1995. Qualitative communication research methods. Thousand Oaks: Sage.
49. Mainstreaming Responsible Investment. 2005. Report by the World Economic Forum, January, Available: www.weforum.org/pdf/mri.pdf [Accessed 4 January 2006].
50. Mansley M. 2000. Socially responsible investment: A guide for pension fund managers. Suffolk, UK: Monitor Press.
51. McWilliams A and Siegel D. 2000. Corporate social responsibility and financial performance: correlation or misspecification? Strategic Management Journal, 21(5):603-609.
52. Mills P. 1996. Investing as a Christian: Reaping where you have not sown? Cambridge Papers, 5(2):1-4.
53. Mitchell P and Larson T. 2006. Trends report. Social Investment Forum, 24 January, Available: http://www.socialinvest.org/areas/news/2005Trends.htm [Accessed 1 October 2006].
54. Morse JM. (Ed). 1994. Critical issues in qualitative research methods. Thousand Oaks: Sage.
55. Oldert N. 2006. Profile's unit trusts and collective investments - March 2006. Johannesburg: Profile Media.
56. O'Reilly H. 2001. Ethical dilemmas. Benefits Canada, 25(8):19.
57. Orlitzky M. Schmidt FL. and Rynes SL. 2003. Corporate social and financial performance: A meta analysis. Organization Studies, 24(3):403-441.
58. Personal communication Adsetts M. 2006:. Asset Consultant. Alexander Forbes Financial Services, Johannesburg.
59. Personal communication: Canter A. 2003. Fund manager. Futuregrowth Specialist Asset Managers, Cape Town.
60. Personal communication: Craig T. 2003, 2006. Fund manager. Frater Unit Trust Management Company, Cape Town.
61. Personal communication: Davids M. 2006. Asset Consultant. Alexander Forbes Financial Services, Johannesburg.
62. Personal communication: Dinan A. 2003. SRI analyst. Frater Asset Management, Cape Town.
63. Personal communication: Forster J. 2003. Senior financial officer: Private equity group. Sanlam Investment Management, Cape Town.
64. Personal communication: Jackson H. 2003. Chief investment officer. African Harvest Fund Managers, Cape Town.
65. Personal communication: Johnston J. 2006. Strategist. JSE Ltd, Johannesburg.
66. Personal communication: Mafolo J. 2003. Portfolio manager. Metropolitan Asset Managers, Cape Town.
67. Personal communication: Plaistowe T. 2003. Portfolio manager: development assets. Old Mutual Asset Managers, Cape Town.
68. Personal communication: Sonnenberg D. 2006. Director. Sustainability Research and Intelligence (SR&I), Johannesburg.
69. th annual Business Ethics Network Africa conference, Cape Town, 26 July.
70. Petersen F. 2005. Targeted and profitable. Financial Mail, 10 June, Available: http://www.free.financialmail.co.za/report05/fmfmjun05/dfm.htm [Accessed 20 February 2006].
71. Posnikoff JF. 1997. Disinvestment from South Africa: They did well by doing good. Contemporary economic policy, 15(1):76-86.
72. th Edition. USA: South Western.
73. Religious Action Centre for Reform Judaism. 2007. Available: http://rac.org/advocacy/issues/issuesri/#values
74. Responsible investing in South Africa - The way forward. 2007. Minutes of the first South African roundtable, 30 May, Cape Town (Available from the authors).
75. Rose R. 2004. Funds catch on to social duties. Business Day, 3 September:15.
76. Rudd A. 1979. Divestment of South African equities: how risky? The Journal of Portfolio Performance, 5(3):5-10.
77. Sauer DA. 1997. The impact of social responsibility screens on investment performance: evidence from the Domini 400 social index and Domini equity mutual fund. Review of financial economics, 6(2):137-150.
78. Schueth, S. 2003. Socially responsible investing in the United States. Journal of Business Ethics, 43(3):189-194.
79. Segal M. 2004. Jaarboek van die Suid Afrikaanse waagkapitaal- en privaataandeelvereniging, Bylaag tot Finansies en Tegniek, Januarie.
80. Selcraig B. 2006. Ethical investing comes of age. Sawubona, January:99-102.
81. Social responsibility must be put on the agenda. 2005. Business Day, 27 October, Available: http://www.businessday.co.za/Articles/TarkArticle.aspx?ID=1739146 [Accessed 20 February 2006].
82. Socially responsible investing taking root in Europe. 2002. GO: the EURONEXT Magazine, May:17.
83. Solomon J, Solomon A and Norton S. 2002. Socially responsible investment in the UK: drivers and current issues. Journal of General Management, 27(3):1-13.
84. Sparkes R and Cowton CJ. 2004. The maturing of socially responsible investments: a review of the developing link with corporate social responsibility. Journal of Business Ethics, 52(1):45-57.
85. Statman M. 2000. Socially responsible mutual funds. Financial Analysts Journal, 56(3):30-39.
86. Strong investment case for SRI. 2005. Finance Week, 27 July:58.
87. Teoh SW, Welch I and Wazzan CP. 1999. The effect of socially activist investment policies on the financial markets: Evidence from the South African boycott. Journal of Business, 72(1):35-89.
88. The Institute of Islamic Banking and Insurance. 2007. Available: http://www.islamic-banking.com/ibanking/ifi_list.php
89. Thomas S. 2004. Do good, do well. Financial Mail, 11 June. Available: http://wwwfree.financialmail.co.za/report04/fundman204/afm.htm [Accessed 4 September 2004].
90. th annual conference of the Australian Ethical Investment Association, Sydney, 21-22 September.
91. United Nations Principles for Responsible Investment. 2006. Available: http://www.unpri.org [Accessed 1 June 1006].
92. Viviers S. 2007. A critical assessment on socially responsible investing in South Africa. Unpublished doctoral thesis, Nelson Mandela Metropolitan University, Port Elizabeth.
93. Walker, P, Desgagniers, P and Walmsley, J. 2007. How leading public pension funds are meeting the challenges. A report by the United Nations Environment Programme Finance Initiative Asset Management Working Group and the UK Social Investment Forum Sustainable Pensions Project. London.
94. Wartick SL and Cochran PL. 1985. The evolution of the corporate social performance model. Academy of Management Review, 10(4):758-769.
95. White MA. 1995. The performance of environmental mutual funds in the United States and Germany: Is there economic hope for "green" investors? Research in corporate social performance and policy, (supplement 1):323-344.
96. Whitten D. 2004. Socially responsible investment pays in Japan. JapanInc, February, Available: http://www.japaninc.com [Accessed 20 December 2004].
97. Wierzycka, M. 2004. Weighing up pension funds and the social good. Sunday Times Business Times, 16 May, Available: http://sundaytimes.co.za/2004/05/16/business/money/money07.asp [Accessed 18 May 2004].
98. Wierzycka M. 2005. Examining prescription of socially responsible investments. Business Report, 15 March, Available: http://www.busrep.co.za/index.php?fSectionId=564&fArticleId=2446716 [Accessed 26 July 2005].