Exploring Socially Responsible Investment for Superannuation Funds in Australia: A Research Proposal

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Abstract

In Australia since 1992 all employees are required by legislation to contribute a prescribed minimum proportion of their salaries and wages to superannuation (pension) funds that are non-redeemable until retirement. The majority of these contributions are indirectly invested by superannuation funds in the Australian and international capital markets.Traditional investment theory analyses investment efficacy purely on financial return and risk characteristics. This approach implies a purely economic motive to the actions of an investor when, for a rapidly growing number of investors, this is not the only factor by which the success of an investment is judged. Increasingly investors view the socially responsible and ethical behaviour of firms and industries as an important criterion in deciding where to invest. The rapid uptake of socially responsible investment (SRI) has been highlighted by the release in 2006 by the United Nations of the Principles for Responsible Investment (UNPRI).It is recognised that there are several different strategies for SRI, ranging from the original negative screens of early social funds to the active shareholder engagement proposed by the UN. However, there has been very little research carried out into the current practices of SRI by Australian superannuation funds and the SRI criteria required by Australian superannuation fund members. This paper outlines a research proposal aimed at the development of a theoretical model of socially responsible investment criteria for superannuation fund members.
Original languageEnglish
Title of host publicationAPIRA 2007
EditorsStewart Lawrence, Markus J Milne
Place of PublicationAuckland, New Zealand
PublisherAPIRA
Pages1-17
Number of pages17
Publication statusPublished - 2007
EventAsia Pacific Interdisciplinary Research in Accounting Conference - Auckland, New Zealand, Auckland, New Zealand
Duration: 08 Jul 200710 Jul 2007
https://www.emerald.com/insight/content/doi/10.1108/qram.2006.31403baa.001/full/html (conference info)

Conference

ConferenceAsia Pacific Interdisciplinary Research in Accounting Conference
Country/TerritoryNew Zealand
CityAuckland
Period08/07/0710/07/07
Internet address

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