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Abstrak :
[In the face of the recent financial crisis there is increased focus on long-term investment strategies. This is particularly true for institutional investors who manage our retirement savings. Simultaneously there is increased demand that financial assets be invested with an understanding of long-term environmental and social sustainability. Responsible investing provides a long-term sustainable investment strategy that values environmental, social and governance (ESG) factors in investment decision-making. Responsible Investing has always had a broad mandate. Put simply, it is a long-term sustainable investment strategy that seeks to reduce risk in investment portfolios through managing ESG issues in today’s corporations. The next generation of responsible investment explores this topic in an edited volume intended for those with an interest in finance and business. , In the face of the recent financial crisis there is increased focus on long-term investment strategies. This is particularly true for institutional investors who manage our retirement savings. Simultaneously there is increased demand that financial assets be invested with an understanding of long-term environmental and social sustainability. Responsible investing provides a long-term sustainable investment strategy that values environmental, social and governance (ESG) factors in investment decision-making. Responsible Investing has always had a broad mandate. Put simply, it is a long-term sustainable investment strategy that seeks to reduce risk in investment portfolios through managing ESG issues in today’s corporations. The next generation of responsible investment explores this topic in an edited volume intended for those with an interest in finance and business. ]

Abstrak :
ABSTRACT
In this thesis, I examine the performances of 128 European SRI funds and 1037 European conventional funds. I also analyze whether the performances of SRI funds are related to the features of the screening process. I find evidence that only the conventional funds are able to out perform the market. Further, I show that only sustainability-themed screening strategy increases financial performance, while best in-class, exclusion and combination strategy have no impact. Last, when the criteria of SRI selection process is based on the ESG criteria, I find that its impact on funds performance is not significant.

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ABSTRAK
Skripsi ini menganalisa kinerja 128 Investasi Bertanggung Jawab Sosial dan 1037 Investasi Konvensional di Eropa. Skripsi ini juga meniliti apakah proses sceening mempengaruhi kinerja dari Investasi Bertanggung Jawab Sosial. Hasil penelitian menunjukkan hanya model investasi konvensional yang mampu mengungguli pasar. Selanjutnya, hasil penilitian juga menunjukkan hanya strategi screening yang berfokus pada sustainabilitas yang mampu meningkatkan kinerja investasi. Sedangkan proses screening dengan strategi best-in-class, exclusion dan combination tidak memberikan dampak pada kinerja investasi. Hasil penelitian ini juga menunjukkan,proses seleksi Investasi Bertanggung Jawab Sosial yang di dasarkan pada kriteria ESG tidak memberikan dampak yang signifikan pada kinerja investasi