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Investing for Change: Profit from Responsible Investment
     

Investing for Change: Profit from Responsible Investment

by Augustin Landier, Vinay B. Nair
 
This text shows that citizens can change the globalized world in the direction of many common values by being a socially conscious investor. The authors argue that in fact globalization is helping create a shared concern for many issues around the planet.

Overview

This text shows that citizens can change the globalized world in the direction of many common values by being a socially conscious investor. The authors argue that in fact globalization is helping create a shared concern for many issues around the planet.

Editorial Reviews

From the Publisher
"Genuinely persuasive"—Publishers Weekly

"Socially Responsible Investment (SRI) is attracting increasing attention around the world, as a complement to laws and regulations in the promotion of good corporate behaviour. In a very readable, well documented and thought out book, Landier and Nair address the key questions: "What is SRI? Does it work? Can one do well by doing good? Investing for Change brings a balanced, yet upbeat view of SRI, and is a absolute must-read for all those, academics and practitioners of finance like the authors, or simple investors, who have an interest in socially responsible investment"—Jean Tirole, director, Toulouse School of Economics

"This is a must-read for anyone interested in SRI. The authors are experts in the field and understand all the technicalities, and at the same time write lucidly and entertainingly. They make a compelling case that SRI is a phenomenon that will be central to capital markets in the next decade."—Geoffrey Heal, Columbia Business School

Publishers Weekly

Academics turned portfolio managers, Landier and Nair offer up evidence for socially responsible investing's potential for financial gain and real social change, highlighting how returns, risks and goals differ in ethical investing. The book traces the evolution of socially responsible investing (SRI) from its 18th-century Quaker roots to the first socially responsible mutual fund, 37-year-old Pax World, and finally to more recent "responsibility indices" and the increasing availability of corporate sustainability reports. The authors wisely credit the growing influence of "the corporate governance movement", the increasing number of socially responsible mutual funds, large public pension funds' interest in "responsibility issues," and the "dynamic regulatory landscape" for pushing change on environmental, human rights and other social fronts, making an ethical investment approach a viable option. The authors assess the research on stock returns in ethical investing and the trade-offs for one's principles, projecting that a more balanced socially responsible investment portfolio can grow close to industry averages on the S&P 500, for example, and better than benchmark portfolios. While the fictitious investors in the book grate, its appeal to "invest in who you are" is genuinely persuasive. (Dec.)

Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Product Details

ISBN-13:
9780195370140
Publisher:
Oxford University Press, USA
Publication date:
11/26/2008
Edition description:
New Edition
Pages:
192
Product dimensions:
5.40(w) x 8.40(h) x 0.90(d)

Meet the Author

Dr. Augustin Landier and Dr. Vinay B. Nair are co-founders of Ada Investment Management, an asset management firm based in New York City. They are also adjunct professors of finance at Stern School of Business, New York University. Previously they were Portfolio Managers and Research Directors at Old Lane, LP, Citi Alternative Investments as well as professors at the University of Chicago, The Wharton School, INSEAD and the Indian School of Business.

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