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Economic Analysis: Theory and Practice
 

Conceptual foundations of the research methodology of socially responsible investment

Vol. 14, Iss. 9, MARCH 2015

PDF  Article PDF Version

Available online: 8 March 2015

Subject Heading: SOCIAL INVESTMENT

JEL Classification: 

Pages: 52-62

Savina T.N. Ogarev Mordovian State University, Saransk, Republic of Mordovia, Russian Federation
savinatn@yandex.ru

The subject of the study is theoretical, methodological and practical aspects of socially responsible investment. The aim of the work is theoretical and methodological substantiation of socially responsible investment as a key factor that ensures sustainable development. The author achieved the implementation of the research tasks by studying scientific works of Russian and foreign scientists on the issue. The methodological basis of the research was scientific methods and techniques (analysis and synthesis, the combination of historical and logical, and other specific methods of assessment (observation of core indicators, expert estimates). On the basis of the complex analysis of the methodology of market research of socially responsible investment, the author defined stages of formation and development of the concept of socially responsible investment, revealed conceptual features of the economic category under consideration, disclosed its economic substance, and made a comparative assessment of types of socially responsible investment. The author studied the criteria and methods of socially responsible investment (selection or screening, activities of shareholders related to interest protection (shareholders advocacy), public investment (community investing)). The paper includes the consideration of the main institutions acting as the main players in the market of socially responsible investment (socially responsible mutual funds, endowment funds, socially responsible banks, financial institutions and others), and justifies their increasing role. The author concludes that due to the developed institutional infrastructure of the socially responsible investment market, the volumes of socially responsible investment increase year on year. The article shows the dynamics of socially responsible investment in the United States and identifies the problems impeding the establishment and development of the socially responsible investment institution in Russia. The results of the study may serve as materials for working out the Social Code of a company, developing a technique to determine social investment, social programs, sustainable development concepts, the doctrine of social security, for ratings of socially responsible companies, as well as for preparing training courses on corporate social responsibility.

Keywords: socially responsible investment, stock indices, socially responsible mutual funds

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