SRI, FINANCIAL CRISIS AND EMERGING MARKETS, THE BRAZILIAN MARKET DURING THE 2008 CRISIS

Número: 
XII CNEG & III INOVARSE 2016
Código do trabalho: 
T16_019
Resumo: 
The combination of corporate finance and sustainability has been increasingly relevant these last years. The expansion of socially responsible investing in all developed financial markets has been subjected to numerous studies for the past years. However, very few papers focus on SRI in emerging markets. The purpose of this study is twofold: a) to bring a new perspective on socially responsible investments and b) to analyze their performance during the financial crisis. We have chosen to focus on the Brazilian market for three reasons: its major regional financial hub, its early-developed SR market and its considerable scale. This paper evaluates the performance of ethical indices comparing to the conventional indices through four statistical measurements, over three different periods: before, during and after the crisis. The results of this study show that in Brazil during crisis periods, SRI funds have rather outperformed benchmarks.
Congresso: 
XII Congresso Nacional de Excelência em Gestão & III INOVARSE 2016