An Ethical Investments Evaluation for Portfolio Selection

2004

The Socially Responsible Investing (SRI) is an assets allocation, whose aim is to maximize not only the portfolio expected return but the benefits for a consumer who as a whole operates according to the ethical principles. The wealth of a market economy is to cross the different ethical identities of families, of enterprises, of banks, in order to improve the allocation of the resources for a sustainable development. In this paper, we aim at describing the portfolio selection realized on the basis of the ethical principles - positive /negative, inclusionary/exclusionary - of an investor. The first part of this paper describes Socially Responsible Investing (SRI) and ethical funds market in …