Vice Versus Virtue Investing Around the World - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Vice Versus Virtue Investing Around the World write by Sebastian Lobe. This book was released on 2015. Vice Versus Virtue Investing Around the World available in PDF, EPUB and Kindle. This paper assumes the role of advocatus diaboli by testing whether an investment in sin stocks can financially outperform an investment in socially responsible stocks. We create a set of global, regional, and domestic portfolios consisting of a large number of stocks belonging to what could be labeled as a sextet of sin: adult entertainment, alcohol, gambling, nuclear power, tobacco, and weapons. We assess the performance of sin stocks against well-known benchmarks, and rerun the identical assessment for socially responsible stocks. We find no compelling evidence that sin stocks, or socially responsible stocks outperform or under-perform, and establish this result in several ways. Consistent with this finding, a hedge portfolio long in sin stocks and short in socially responsible stocks does not outperform the market, either. However, sin stocks are substantially tilted towards value, bear less market risk with an average beta below one, and are prone to momentum relative to socially responsible stocks.
Vice vs. Virtue Investing Around the World
Vice vs. Virtue Investing Around the World - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Vice vs. Virtue Investing Around the World write by Sebastian Lobe. This book was released on 2011. Vice vs. Virtue Investing Around the World available in PDF, EPUB and Kindle. In this paper, we empirically test the extent to which a portfolio of socially not responsible firms screened out of a market portfolio will trade at a discount. We create a set of global and domestic sin indexes consisting of a large number of publicly traded socially not responsible stocks around the world belonging to what we label as the Sextet of Sin: adult entertainment, alcohol, gambling, nuclear power, tobacco, and weapons. We compare their stock market performance directly with a set of virtue comparables consisting of the most important in-ternational socially responsible investment indexes. Employing a multi-factor performance measurement framework and recent boot-strap procedures for robust performance testing, we find no compelling evidence in the data that ethical and unethical screens lead to a sig-nificant difference in their financial performance.
Investing in Vice
Investing in Vice - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Investing in Vice write by Dan Ahrens. This book was released on 2007-04-01. Investing in Vice available in PDF, EPUB and Kindle. Stocks markets go up and down, but no matter what the economy is doing, people worldwide continue to drink, smoke, gamble, and fight. Why not invest in vice? Vice Fund Manager, Dan Ahrens focuses on "sin stocks"- tobacco, alcohol, adult entertainment, gambling, and aerospace/defense, contending that even during an abysmal economy, people will continue to indulge in these goods and services. In Investing in Vice, Ahrens explores all major aspects of the vice industry and provides traders and investors with: o A brief history of each principal vice industry o Strategies for building a profitable portfolio o Charts of each industry's stock performance o Instructions on how to invest in vice-pros and cons of full service brokers, managed portfolios, and mutual funds o Top Picks-of the best companies, and top stock holdings o Reasons why Socially Responsible Investing may not work With its lighthearted tone and simple approach, Investing in Vice is the ultimate defense in these troubled economic times.
An Anthology of Global Risk
An Anthology of Global Risk - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook An Anthology of Global Risk write by SJ Beard. This book was released on 2024-09-03. An Anthology of Global Risk available in PDF, EPUB and Kindle. This anthology brings together a diversity of key texts in the emerging field of Existential Risk Studies. It serves to complement the previous volume The Era of Global Risk: An Introduction to Existential Risk Studies by providing open access to original research and insights in this rapidly evolving field. At its heart, this book highlights the ongoing development of new academic paradigms and theories of change that have emerged from a community of researchers in and around the Centre for the Study of Existential Risk. The chapters in this book challenge received notions of human extinction and civilization collapse and seek to chart new paths towards existential security and hope. The volume curates a series of research articles, including previously published and unpublished work, exploring the nature and ethics of catastrophic global risk, the tools and methodologies being developed to study it, the diverse drivers that are currently pushing it to unprecedented levels of danger, and the pathways and opportunities for reducing this. In each case, they go beyond simplistic and reductionist accounts of risk to understand how a diverse range of factors interact to shape both catastrophic threats and our vulnerability and exposure to them and reflect on different stakeholder communities, policy mechanisms, and theories of change that can help to mitigate and manage this risk. Bringing together experts from across diverse disciplines, the anthology provides an accessible survey of the current state of the art in this emerging field. The interdisciplinary and trans-disciplinary nature of the cutting-edge research presented here makes this volume a key resource for researchers and academics. However, the editors have also prepared introductions and research highlights that will make it accessible to an interested general audience as well. Whatever their level of experience, the volume aims to challenge readers to take on board the extent of the multiple dangers currently faced by humanity, and to think critically and proactively about reducing global risk.
The Financial Ecosystem
The Financial Ecosystem - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Financial Ecosystem write by Satyajit Bose. This book was released on 2019-10-16. The Financial Ecosystem available in PDF, EPUB and Kindle. Long term asset owners and managers, while seeking high risk-adjusted returns and efficiently allocating scarce financial capital to the highest value economic activities, have the essential and formidable role of ensuring the sustainability of return. But generally accepted financial accounting methods are ill-equipped to provide clear signals of the risks and opportunities created by scarce natural and human capital. Hence many investment managers in global financial markets, while performing due diligence on portfolio companies, examine metrics of non-financial performance, especially environmental, social and governance (ESG) indicators. Broken into three sections, this book outlines the rationale for and methods used in six areas where financial acumen has been harnessed to the goal of combining monetary return with long run sustainability. The first section offers an introduction to the role of finance in achieving sustainability, and includes an overview of the six areas—sustainable investing, impact investing, decentralized finance, conservation finance, and cleantech finance. The methods section of the book illustrates analytical tools and specialized data sources essential to those interested in increasing the level of social responsibility embedded in economic activity. The applications section describes and differentiates each of the six areas and their roles in advancing specific measures of sustainability.
