Do Institutional Investors Prefer to Invest in Socially Responsible Companies? An Empirical Analysis in Turkey

2013 ◽  
pp. 311-324 ◽  
Author(s):  
Ali Osman Gurbuz ◽  
Mehpare Karahan Gokmen ◽  
Aslı Aybars
Keyword(s):  
Empirical Analysis ◽  
Institutional Investors ◽  
Socially Responsible

scholarly journals Social Impact Bonds and Institutional Investors: An Empirical Analysis of a Complicated Relationship

2018 ◽  
Vol 48 (1) ◽  
pp. 50-70 ◽  
Author(s):  
Alfonso Del Giudice ◽  
Milena Migliavacca
Keyword(s):  
Empirical Analysis ◽  
Institutional Investors ◽  
Social Impact ◽  
Success Factors ◽  
Agency Problems ◽  
Private Capital ◽  
Policy Makers ◽  
The Past ◽  
Critical Success ◽  
Social Impact Bonds

Over the past 8 years, social impact bonds (SIBs) have attracted increasing attention from scholars, policy makers, and investors. Notwithstanding good intentions and policy makers’ enthusiasm, SIBs have failed to attract significant private capital. Considering the SIBs issued worldwide until December 2017, we look for the critical success factors of SIB funding by investigating both the financial and contractual characteristics of SIB contracts. We find that institutional investors are more likely to participate in an SIB funding when there are fewer agency problems.

scholarly journals How advertising got ‘woke’: The institutional role of advertising in the emergence of gender progressive market logics and practices

2021 ◽  
pp. 147059312110351
Author(s):  
Karen Middleton ◽  
Sarah Turnbull
Keyword(s):  
Empirical Analysis ◽  
Gender Stereotypes ◽  
Cultural Meaning ◽  
Market System ◽  
Socially Responsible ◽  
Creative Strategy ◽  
The Individual ◽  
The Impact ◽  
Representations Of Women

The use of gender stereotypes has long been a common creative strategy used by practitioners in advertising portrayals, leading to concern over the individual and societal effects of such representations of women. However, a recent decline in this institutionalized practice has provided the stimulus for our research. As such, we explore the influences that have led to meso-level market actors working in advertising and marketing actively avoiding the use of gender stereotypes of women in advertising depictions. We consider the role of advertising in a dynamic market system and the influences upon advertising practitioners leading to the emergence of gender progressive market logics. Linking the experiences of an expert sample of advertising professionals with the extant literature, our study broadens understanding of the central role of advertising in shaping markets. While previous research has examined the impact of advertising on society and cultural meaning, we highlight the recursive nature of this interaction. We find that emergent gender progressive logics have been dependent upon support in public discourses, shifts in professionals’ moral conscience, voiced consumer opinion and the market success of trailblazing, gender progressive advertising campaigns. We advance empirical analysis of market system influences that have led to more socially responsible advertising practices. This study has important implications for understanding advertising’s potential to address institutional problems in society.

scholarly journals Encouraging Investors to Enable Corporate Sustainability Transitions: The Case of Responsible Investment in France

2019 ◽  
Vol 32 (2) ◽  
pp. 125-144 ◽  
Author(s):  
Patricia Crifo ◽  
Rodolphe Durand ◽  
Jean-Pascal Gond
Keyword(s):  
Institutional Investors ◽  
Corporate Sustainability ◽  
Socially Responsible Investment ◽  
Sustainability Transitions ◽  
Socially Responsible ◽  
Responsible Investment ◽  
Intermediary Organizations

This article studies the case of the socially responsible investment industry in France. This case accounts for how the socially responsible investment category and practices have successfully moved from the margins of the industry in the late 1990s to become mainstream over two decades. We bring to the forefront the importance of three complementary factors in the process of causing corporations to transition toward more sustainable businesses: the role of investors and, in particular, institutional investors; the importance of the presence of a clear category definition and of intermediary organizations, providing ratings, scores, and other calculative devices; and the role of governments and regulators. With other studies, this case stresses the fundamental influence of investors in how corporations manage sustainability transitions.

scholarly journals Corporate governance in Italy after the 1998 reform: What role for institutional investors?

2005 ◽  
Vol 2 (4) ◽  
pp. 11-31 ◽  
Author(s):  
Marcello Bianchi ◽  
Luca Enriques
Keyword(s):  
Corporate Governance ◽  
Empirical Analysis ◽  
Mutual Fund ◽  
Institutional Investors ◽  
Conflicts Of Interest ◽  
Institutional Investor ◽  
Active Role ◽  
Listed Companies ◽  
Legal Environment ◽  
Investor Activism

his paper tries to answer two questions: first, whether the changes in the law resulting from the 1998 reform are able to positively affect the attitude to activism of institutional investors in Italy; and second, whether, legal rules aside, it is reasonable to expect significant institutional investor activism in Italy. We provide both an empirical analysis of the factors affecting institutional investor activism in Italy and a legal analysis of the most relevant changes in the Italian mutual funds and corporate laws, following the 1998 reform. The empirical analysis shows that institutional shareholdings and investment strategies are compatible with the hypothesis that institutional investors can play a significant role in the corporate governance of Italian listed companies. However, a curb to their playing such an active role may derive from the predominance of mutual fund management companies belonging to banking groups (giving rise to conflicts of interest) and from the prevailing ownership structure of listed companies, which are still dominated by controlling shareholders holding stakes higher than, or close to, the majority of the capital (implying a weaker bargaining power of institutions vis-à-vis controllers). The analysis of the legal changes prompted by the 1998 financial markets and corporate law reform indicates that the legal environment is now definitely more favorable to institutional investor activism than before. However, the Italian legal environment proves still to be little favorable to institutional investor activism, when compared to that of the U.S. or the U.K.

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