TY  - JOUR
AU  - Jin,Henry Hongbo
AU  - Mitchell,Olivia S.
AU  - Piggott,John
TI  - Socially Responsible Investment in Japanese Pensions
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 11747
PY  - 2005
Y2  - November 2005
UR  - http://www.nber.org/papers/w11747
L1  - http://www.nber.org/papers/w11747.pdf
N1  - Author contact info:
Henry Hongbo Jin

Olivia S. Mitchell
University of Pennsylvania
Wharton School
3620 Locust Walk, St 3000 SH-DH
Philadelphia, PA 19104-6302
Tel: 215-898-0424
Fax: 215/898-0310
E-Mail: mitchelo@wharton.upenn.edu

John Piggott
School of Economics
University of New South Wales
Sydney 2052, Australia
E-Mail: j.piggott@unsw.edu.au
AB  - 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.
ER  -