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NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Henry Hongbo Jin

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Working Papers

November 2005Socially Responsible Investment in Japanese Pensions
with Olivia S. Mitchell, John Piggott: w11747
As the level of retirement-related assets has grown, so too has public and private interest in so-called "Socially Responsible Investment" (SRI), an investment strategy that employs criteria other than the usual financial risk and return factors when selecting firms in which to invest. This study evaluates whether SRI indexes would alter portfolio risk and return patterns for the new defined contribution pension plans currently on offer in Japan. We conclude that SRI funds can be included as an option, albeit with some cost; consequently, mandatory investment in SRI portfolios cannot reasonably be justified.

Published: Jin, Henry Hongbo & Mitchell, Olivia S. & Piggott, John, 2006. "Socially responsible investment in Japanese pensions," Pacific-Basin Finance Journal, Elsevier, vol. 14(5), pages 427-438, November. citation courtesy of

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