Bibliometric Analysis of Socially Responsible Investment (SRI)

Authors

  • Fatimah Iskandar Putri IPB University, Indonesia

DOI:

https://doi.org/10.58968/fwm.v1i1.153

Abstract

In the last few decades, socially responsible investment has become a topic that has been studied more and more. This study aims to analyze the literature on socially responsible investment by covering research trends and future research directions. A total of 1,218 articles from Scopus with publications ranging from 1979-2023 were analyzed using the VOSViewer software. The quantitative approach is used in the bibliometric analysis, and the qualitative approach is used in the literature study. The findings in this study include research clusters divided into four paths: the practice/implementation of socially responsible investments, the performance of socially responsible investments, the influence of investor knowledge on socially responsible investments, and the impact of socially responsible investments.

Downloads

Download data is not yet available.

References

Antonio, M. S., Rusydiana, A., Laila, N., Hidayat, Y. R., & Marlina, L. (2020). Halal value chain: A bibliometric review using R. Library Philosophy and Practice (e-journal), 4606.

Benson, K. L., & Humphrey, J. E. (2008). Socially responsible investment funds: Investor reaction to current and past returns. Journal of Banking and Finance, 32(9), 1850–1859. https://doi.org/10.1016/j.jbankfin.2007.12.013

Berry, T. C., & Junkus, J. C. (2013). Socially Responsible Investing: An Investor Perspective. Journal of Business Ethics, 112(4), 707–720. https://doi.org/10.1007/s10551-012-1567-0

Borgers, A., Derwall, J., Koedijk, K., & ter Horst, J. (2015). Do social factors influence investment behavior and performance? Evidence from mutual fund holdings. Journal of Banking and Finance, 60, 112–126. https://doi.org/10.1016/j.jbankfin.2015.07.001

Camilleri, M. A. (2021). The market for socially responsible investing: A review of the developments. Social Responsibility Journal, 17(3), 412-428.

Capelle-Blancard, G., & Monjon, S. (2014). The Performance of Socially Responsible Funds: Does the Screening Process Matter? European Financial Management, 20(3), 494–520. https://doi.org/10.1111/j.1468-036X.2012.00643.x

Chang, X., Fu, K., Jin, Y., & Liem, P. F. (2022). Sustainable Finance: ESG/CSR, Firm Value, and Investment Returns*. Asia-Pacific Journal of Financial Studies, 51(3), 325–371. https://doi.org/10.1111/ajfs.12379

Chetty, S., Naidoo, R., & Seetharam, Y. (2015). The impact of corporate social responsibility on firms' financial performance in South Africa. Contemporary Economics, 9(2), 193–214. https://doi.org/10.5709/ce.1897-9254.167

Dewi, V. I. (2012). Socially responsible investment sebagai motif penerapan sustainable corporate social responsibility. Bina Ekonomi, 16(1).

Diouf, D., & Boiral, O. (2017). The quality of sustainability reports and impression management: A stakeholder perspective. Accounting, Auditing and Accountability Journal, 30(3), 643–667. https://doi.org/10.1108/AAAJ-04-2015-2044

Fabregat-Aibar, L., Barberà-Mariné, M. G., Terceño, A., & Pié, L. (2019). A bibliometric and visualization analysis of socially responsible funds. Sustainability, 11(9), 2526.

Guay, T., Doh, J. P., & Sinclair, G. (2004). Non-governmental organizations, shareholder activism, and socially responsible investments: Ethical, strategic, and governance implications. Journal of business ethics, 52, 125-139.

Hallerbach, W., Ning, H., Soppe, A., & Spronk, J. (2004). A framework for managing a portfolio of socially responsible investments. European Journal of Operational Research, 153(2), 517-529.

Jitmaneeroj, B. (2017). The impact of corporate social responsibility on firm value: An application of structural equation modelling. International Journal of Business Governance and Ethics, 12(4), 306–329. https://doi.org/10.1504/IJBGE.2017.090214

Lakaba, A., & Robiyanto, R. (2018). Evaluasi kinerja saham bertanggungjawab sosial (Studi pada saham-saham yang masuk perhitungan indeks SRI-Kehati). Jurnal Organisasi Dan Manajemen, 14(2), 95-107.

Losse, M., & Geissdoerfer, M. (2021). Mapping socially responsible investing: A bibliometric and citation network analysis. Journal of cleaner production, 296, 126376.

Meseguer-Sánchez, V., Gálvez-Sánchez, F. J., López-Martínez, G., & Molina-Moreno, V. (2021). Corporate social responsibility and sustainability. A bibliometric analysis of their interrelations. Sustainability, 13(4), 1636.

Nandy, M., Kuzey, C., Uyar, A., Lodh, S., & Karaman, A. S. (2022). Can CSR mechanisms spur GRI adoption and restore its lost value relevance? Journal of Applied Accounting Research. https://doi.org/10.1108/JAAR-03-2022-0068

Nofsinger, J., & Varma, A. (2014). Socially responsible funds and market crises. Journal of Banking and Finance, 48, 180–193. https://doi.org/10.1016/j.jbankfin.2013.12.016

Ortas, E., Burritt, R. L., & Moneva, J. M. (2013). Socially responsible investment and cleaner production in the Asia pacific: Does it pay to be good? Journal of Cleaner Production, 52, 272–280. https://doi.org/10.1016/j.jclepro.2013.02.024

Rahman, M., Isa, C. R., Tu, T. T., Sarker, M., & Masud, M. A. K. (2020). A bibliometric analysis of socially responsible investment sukuk literature. Asian Journal of Sustainability and Social Responsibility, 5, 1-19.

Reichelt, H. (2010). Green bonds: a model to mobilise private capital to fund climate change mitigation and adaptation projects. The EuroMoney environmental finance handbook, 2010, 1-7.

Renneboog, L., ter Horst, J., & Zhang, C. (2008). Socially responsible investments: Institutional aspects, performance, and investor behavior. Journal of Banking and Finance, 32(9), 1723–1742. https://doi.org/10.1016/j.jbankfin.2007.12.039

Revelli, C. (2017). Socially responsible investing (SRI): From mainstream to margin? Research in International Business and Finance, 39, 711–717. https://doi.org/10.1016/j.ribaf.2015.11.003

Revelli, C., & Viviani, J.-L. (2015). Financial performance of socially responsible investing (SRI): What have we learned? A meta-analysis. Business Ethics, 24(2), 158–185. https://doi.org/10.1111/beer.12076

Rokhlinasari, S. (2016). Teori-teori dalam pengungkapan informasi corporate social responbility perbankan. Al-Amwal: Jurnal Ekonomi dan Perbankan Syari'ah, 7(1).

ROSEN, B. N., SANDLER, D. M., & SHANI, D. (1991). Social Issues and Socially Responsible Investment Behavior: A Preliminary Empirical Investigation. Journal of Consumer Affairs, 25(2), 221–234. https://doi.org/10.1111/j.1745-6606.1991.tb00003.x

Rusydiana, A. S., & Al Farisi, S. (2016). Studi literatur tentang riset zakat. Ahkam: Jurnal Ilmu Syariah, 16(2), 281-290.

Schueth, S. (2003). Socially Responsible Investing in the United States. Journal of Business Ethics, 43(3), 189–194. https://doi.org/10.1023/A:1022981828869

Taqi, M., Rusydiana, A.S., Kustiningsih, N., & Firmansyah, I. (2021). Environmental accounting: A scientometric using biblioshiny. International Journal of Energy Economics and Policy, 11(3).

von Wallis, M., & Klein, C. (2015). Ethical requirement and financial interest: a literature review on socially responsible investing. Business Research, 8(1), 61–98. https://doi.org/10.1007/s40685-014-0015-7

Widyawati, L. (2020). A systematic literature review of socially responsible investment and environmental social governance metrics. Business Strategy and the Environment, 29(2), 619–637. https://doi.org/10.1002/bse.2393

Yen, M.-F., Shiu, Y.-M., & Wang, C.-F. (2019). Socially responsible investment returns and news: Evidence from Asia. Corporate Social Responsibility and Environmental Management, 26(6), 1565–1578. https://doi.org/10.1002/csr.1833

ZHANG, J., & ZI, S. (2021). Socially responsible investment and firm value: The role of institutions. Finance Research Letters, 41. https://doi.org/10.1016/j.frl.2020.101806

Downloads

Published

2021-12-31

How to Cite

Iskandar Putri, F. (2021). Bibliometric Analysis of Socially Responsible Investment (SRI). Fara’id and Wealth Management, 1(1). https://doi.org/10.58968/fwm.v1i1.153