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JournalISSN: 1068-0896

The Journal of Investing 

Euromoney Institutional Investor
About: The Journal of Investing is an academic journal published by Euromoney Institutional Investor. The journal publishes majorly in the area(s): Portfolio & Equity (finance). It has an ISSN identifier of 1068-0896. Over the lifetime, 1327 publications have been published receiving 13581 citations.


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Journal ArticleDOI
TL;DR: The Pension Research Institute in Sun Francisco as discussed by the authors was founded by Sortino, who has conducted research projects with such firms as Royal Dutch Shell and Aegon Insurance in the Netherlands, Manufacturers Liji Insurance Co. o f Toronto, The Cal@rnia State Teachers Retirement System, and the Marin County Employees Retirement System.
Abstract: is director o f the Pension Research Institute in Sun Francisco, where he has conducted research projects with such Jirms as Royal Dutch Shell and Aegon Insurance in the Netherlands, Manufacturers Liji Insurance Co. o f Toronto, The Cal@rnia State Teachers Retirement System, and the Marin County Employees Retirement System. Dr. Sortino is also professor offnance at Sun Francisco State University. He holds an M . B.A. fiom U. C. Berkeley, and a Ph.D. infinancefrom the University o f Oregon.

718 citations

Journal ArticleDOI
TL;DR: In this article, a conceptual model that links together the environmental activities and performance of the firm, the ways in which these are communicated to investors and others, the firm's riskiness, and its cost of equity capital is presented.
Abstract: We believe that sound environmental management leads to reduced risk to the firm, and that this risk reduction is valued by financial markets. Investments in environmental management lead to better short-term environmental performance as well as the prospect of further improvements in the future. These improvements confer a reduction in the firm’s risk, which is the key factor that investors consider when deciding upon the return that they will require for making a particular investment. Lower risks mean lower required returns, and therefore, lower costs for financing the activities of the firm. We have developed a conceptual model that links together the environmental activities and performance of the firm, the ways in which these are communicated to investors and others, the firm’s riskiness, and its cost of equity capital. This model provides a framework for understanding how corporate environmental activities ultimately are translated into changes in the market value of the firm.

384 citations

Journal ArticleDOI
TL;DR: In this paper, the authors trace the development of the concept from the initial portfolio theory articles in 1952 to articles in the Journal of Investing in 1994, and provide an understanding of the issues facing the researchers.
Abstract: Downside risk measures in portfolio analysis purport to be a major improvement over traditional portfolio theory. This article traces the development of the concept from the initial portfolio theory articles in 1952 to articles in the Journal of Investing in 1994. An understanding of the issues facing the researchers provides better knowledge of the concept.

304 citations

Journal ArticleDOI
TL;DR: This paper found that socially responsible companies tend to show less diversifiable risk in their stock behavior than non-socially responsible companies, and that adoption of corporate social responsibility codes of conduct can help diminish the overall business risk of a company, and even improve its long-term risk-adjusted performance.
Abstract: While studies have called the performance of socially responsible investments competitive, many investors do not choose to invest their assets in a socially responsible fashion. Part of this reluctance may relate to reduced diversification possibilities and the risk effects of application of ethical screens to portfolios. This investigation of a sample of Canadian stocks challenges the popular opinion that socially responsible investments are more volatile than conventional portfolios. Judged by two different methodologies, socially responsible companies tend to show less diversifiable risk in their stock behavior than non-socially responsible companies. These findings seem to support social investors? view that the adoption of corporate social responsibility codes of conduct can help diminish the overall business risk of a company, and even improve its long-term risk-adjusted performance.

272 citations

Journal ArticleDOI
TL;DR: In this article, the authors briefly explain the theory underlying Modern Portfolio Theory (MPT) and using illustrations highlight the application of MPT to the current practice of asset management and portfolio construction.
Abstract: Fifty years have passed since the publication of Harry Markowitz9s article on portfolio selection, setting forth the ground-breaking concepts that have come to form the foundation of what is now popularly referred to as Modern Portfolio Theory (MPT). In this article the authors briefly explain the theory underlying MPT and using illustrations highlight the application of MPT to the current practice of asset management and portfolio construction. The authors also survey most of the relevant research that has directly or indirectly been either an outcome of MPT or has contributed to the implementation of MPT.

255 citations

Performance
Metrics
No. of papers from the Journal in previous years
YearPapers
202327
202250
202149
202049
201963
201841