Purpose The purpose of this paper is to create a universal (asset-class-independent) portfolio risk index for a global private investor. Design/methodology/approach The authors first discuss existing risk measures and desirable properties of a risk index. Then, they construct a universal...

In this study, I present an experimental design to explore Friedman's claim that the managerial pursuit of socially responsible activities is always costly to owners when the material interests of owners are in conflict with the material interests of a third party. Leaving normative arguments...