We use an asset-weighted composite corporate social responsibility (CSR) fund score to study the effects of CSR on fund performance and flows. Compared to low-CSR funds, high-CSR funds display poorer performance, stronger performance persistence, a weaker performance-flow relationship, and...

This paper analyzes the response of the asset allocation process to fund performance and the broad market conditions as well as the market determinants of fund flows for hybrid funds. Using a fairly large sample of hybrid funds, our findings reveal the following: First, managers increase their...