The Expressive Nature of Socially Responsible Investors

The Expressive Nature of Socially Responsible Investors
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社会责任投资者的表现力

DOI:
10.2139/ssrn.1094068
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发表时间:
2008
期刊:
Capital Markets: Asset Pricing & Valuation
影响因子:
--
通讯作者:
M. Statman
M. Statman
中科院分区:
--
文献类型:
--
作者:
M. Statman

文献摘要

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有社会责任感的投资者试图将他们的道德,社会和宗教价值观与他们的投资相结合。他们发现,不可能将投资的功利性特征,即风险和预期回报,与其社会责任的表现特征分开。并非所有投资者都认同所有价值观,也并非所有对社会负责的投资者都是一样的,但对社会负责的投资者在这些词中找到了意义,而这种意义往往在对社会负责的投资的倡导者和批评者之间的嘈杂辩论中消失。我在这里介绍几位有社会责任感的投资者。他们告诉我们他们的道德、社会和宗教目标,以及引导他们实现目标的经历。他们还告诉我们他们的投资和他们的努力,以进一步他们的目标超越他们的投资。我们听到一位修女说,她的修会最重要的问题是人权和人的尊严,一位视频制作人讲述了平衡她对社会责任投资的渴望与她的财务现实的必要性,一位学生讲述了富裕的成长和通过与贫困儿童的接触唤醒社会责任,和军事相关公司的所有者认为,SRI应该支持那些有最好的政策和实践的公司,而不是那些我们喜欢的产品的公司。
Socially responsible investors attempt to integrate their ethical, societal and religious values with their investments. They find it impossible to separate the utilitarian characteristics of an investment, namely its risk and expected returns, from its expressive characteristic of social responsibility. Not all values are shared by all investors and not all socially responsible investors are alike, but socially responsible investors find meaning in those words and that meaning is often lost in noisy debates between advocates of socially responsible investing and its detractors. I present here a few socially responsible investors in their own quiet words. They tell us about their ethical, societal and religious goals and about the experiences that led them to their goals. They also tell us about their investments and their efforts to further their goals beyond their investments. We listen to a nun saying that the most important issue to her order is human rights and human dignity, a video producer telling of the need to balance her desire for socially responsible investing with her financial reality, a student telling of growing up wealthy and awakening to social responsibility by encounters with poor children, and the owner of military related companies arguing that SRI should be about supporting companies that have the best policies and practices rather than companies whose products we like.