We investigate the existence of strategic cross-fund subsidization in SRI fund families. For asample of SRI fund families domiciled in the U.S., we find evidence of cross-fund subsidizationon performance where winning funds are subsidized by peer losing funds. However, there isno evidence of...

This paper examines the compliance of a large sample of faith-based ethical funds – Shari'ah equity funds (SEFs). SEFs screen their investment for compliance with Islamic law, where riba (conventional interest expense), maysir (gambling), gharar (excessive uncertainty), and non-halal...

This paper investigates spillovers in cash flow to SRI funds within the fund family due to the existence of a star (poor) performing peer SRI fund. Using a sample of SRI funds domiciled in the U.S. and considering survivorship, we find a positive spillover effect from having a star SRI fund on...

This paper provides the first evidence that the quality of fund stewardship matters to fund style drift. Based on 435 equity funds from 2008 to 2011, we find a negative association between overall stewardship and the holding-based measure of style consistency and style dispersion in the size...

This paper examines the compliance of a large sample of faith-based ethical funds – Shari'ah equity funds (SEFs). SEFs screen their investment for compliance with Islamic law, where riba (conventional interest expense), maysir (gambling), gharar (excessive uncertainty), and non-halal...