Performance Persistence of Socially Responsible Investment Funds in the Asia Pacific Region
Hooi Hooi Leana, Wei Rong Anga and Russell Smythb, aEconomics Program, School of Social Sciences, Universiti Sains Malaysia, 11800 USM, Penang, Malaysia, bDepartment of Economics, Monash University, Victoria 3800, Australia, hooilean@usm.my; russell.smyth@buseco.monash.edu.au
Abstract
We test for performance persistence of Socially Responsible Investment (SRI) funds in the Asia Pacific using the ranked portfolio approach and contingency tables. Overall, we find very little evidence of performance persistence. Our results are consistent with the weak form of the Efficient Market Hypothesis. From a practical perspective, our findings suggest ...
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