Socially Responsible Investment in Japanese Pensions

22 Pages Posted: 1 Feb 2006 Last revised: 8 Aug 2010

See all articles by Henry Hongho Jin

Henry Hongho Jin

University of New South Wales - Centre for Pensions and Superannuation

Olivia S. Mitchell

University of Pennsylvania - The Wharton School; National Bureau of Economic Research (NBER)

John Piggott

University of New South Wales (UNSW) - Australian School of Business, School of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: November 2005

Abstract

As the level of retirement-related assets has grown, so too has public and private interest in so-called "Socially Responsible Investment" (SRI), an investment strategy that employs criteria other than the usual financial risk and return factors when selecting firms in which to invest. This study evaluates whether SRI indexes would alter portfolio risk and return patterns for the new defined contribution pension plans currently on offer in Japan. We conclude that SRI funds can be included as an option, albeit with some cost; consequently, mandatory investment in SRI portfolios cannot reasonably be justified.

Suggested Citation

Jin, Henry Hongho and Mitchell, Olivia S. and Piggott, John, Socially Responsible Investment in Japanese Pensions (November 2005). NBER Working Paper No. w11747. Available at SSRN: https://ssrn.com/abstract=842481

Henry Hongho Jin

University of New South Wales - Centre for Pensions and Superannuation ( email )

Kensington
High St
Sydney NSW 2052
Australia

Olivia S. Mitchell (Contact Author)

University of Pennsylvania - The Wharton School ( email )

Philadelphia, PA 19104-6365
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

John Piggott

University of New South Wales (UNSW) - Australian School of Business, School of Economics ( email )

High Street
Sydney, NSW 2052
Australia

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