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- Title
Socially Responsible Institutional Investment in Private Equity.
- Authors
Cumming, Douglas; Johan, Sofia
- Abstract
This article studies institutional investor allocations to the socially responsible asset class. We propose two elements influence socially responsible institutional investment in private equity: internal organizational structure, and internationalization. We study socially responsible investments from Dutch institutional investments into private equity funds, and compare socially responsible investment across different asset classes and different types of institutional investors (banks, insurance companies, and pension funds). The data indicate socially responsible investment in private equity is 40–50% more common when the decision to implement such an investment plan is centralised with a single chief investment officer. Socially responsible investment in private equity is also more common among institutional investors with a greater international investment focus, and less common among fund-of-fund private equity investments.
- Subjects
ETHICAL investments; SOCIAL responsibility of business; INSTITUTIONAL investments; INVESTMENT policy; CORPORATE finance; ORGANIZATIONAL behavior research
- Publication
Journal of Business Ethics, 2007, Vol 75, Issue 4, p395
- ISSN
0167-4544
- Publication type
Article
- DOI
10.1007/s10551-006-9261-8