Fondos Convencionales versus Fondos Socialesuna aplicación del método de los Precios Hedónicos

  1. Cañal-Fernández, Verónica 1
  2. Bilbao-Terol, Celia 1
  3. de Otto-López, Beatriz 1
  1. 1 Universidad de Oviedo.
Revista:
Anales de ASEPUMA

ISSN: 2171-892X

Año de publicación: 2011

Número: 19

Tipo: Artículo

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Otras publicaciones en: Anales de ASEPUMA

Resumen

El objetivo de este trabajo es analizar la valoración que realiza el mercado de la componente de responsabilidad social que verifican los Fondos de Inversión Socialmente Responsables (FISR) respecto de los Fondos Convencionales (FC). Para ello se aplica el método de los Precios Hedónicos que relaciona el precio de dichos fondos con sus características. Los datos se han extraído de los folletos informativos de cada fondo y de las Estadísticas sobre Fondos de Inversión, publicados ambos por la Comisión Nacional de Mercado de Valores (CNMV). La evidencia obtenida indica que el mercado español no valora la componente de responsabilidad social de los FISR. En lo que respecta a las variables económicas, el mercado es averso al riesgo y la valoración de la rentabilidad es positiva y significativa.

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