RT Article
T1 The Drivers of Responsible Investment: The Case of European Pension Funds
JF Journal of business ethics
VO 117
IS 1
SP 137
OP 151
A1 Sievänen, Riikka
A1 Rita, Hannu
A1 Scholtens, Bert
LA English
PB Springer Science + Business Media B. V
YR 2013
UL https://www.ixtheo.de/Record/178564890X
AB We investigate what drives responsible investment of European pension funds. Pension funds are institutional investors who assure the income of part of the population for a long period of time. Increasingly, stakeholders hold pension funds accountable for the non-financial consequences of their investments and many funds have engaged in responsible investing. However, it appears that there is a wide difference between pension funds in this respect. We investigate what determines pension funds’ responsible investments on the basis of a survey of more than 250 pension funds in 15 European countries in 2010. We use multinomial logistic regression and find that especially legal origin of the country, ownership of the pension fund and fund size-related variables are to be associated with pension funds′ responsible investment. For fund size, we establish a curvilinear relationship; especially the smallest and largest pension funds in the sample tend to engage with responsible investing.
K1 Multinomial logistic regression analysis
K1 Investments
K1 Europe
K1 Responsible investing
K1 Corporate Social Responsibility
K1 Survey
K1 Socially Responsible Investment
K1 Pension funds
DO 10.1007/s10551-012-1514-0