Investing for Change: Profit from Responsible Investment

Hardcover | November 29, 2008

byAugustin Landier, Vinay B. Nair

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The socially conscious citizen is uneasy today, as globalization seems to grind social standards ever lower, driving companies to search abroad for the lowest labor costs and forcing governments to reduce safety regulations to attract them. In this scenario, workers earn less, the environmentsuffers, tax revenues for health care and other social necessities fall lower and lower. Investing for Change shows that these citizens can change the globalized world in the direction of many common values by being a socially conscious investor. How can one invest according to one's values? Willit change the way companies act? In Investing for Change, Augustin Landier and Vinay B. Nair argue that in fact globalization, by lowering boundaries through instantaneous communications and providing individuals greater choices, is helping create a shared concern for many issues around the planet. No longer are such humanitarianconcerns as workplace safety, environmental standards, health care, and child-labor protections limited to isolated nations in the developed world. This development gives Responsible Investing valuable practical force. After all, the authors write, companies should not be expected to put profits second, nor should investors be expected to pay a price to express their values. As the numbers of socially conscious investors rise--and as global pressure increases--companies will compete to maximize their appeal tothese investors. Most exciting, the authors point to a new generation of financial products, based on the techniques of hedge funds, which will eliminate the cost of responsible investing. The world is changing--and it can change for the better, faster, with market-tested tools that promise real financial results. Categorizing investors in illuminating groups of Yellow, Blue, and Red, and drawing on the latest research and deep experience in asset management, Landier and Nair showhow responsible investing can truly come into its own.

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The socially conscious citizen is uneasy today, as globalization seems to grind social standards ever lower, driving companies to search abroad for the lowest labor costs and forcing governments to reduce safety regulations to attract them. In this scenario, workers earn less, the environmentsuffers, tax revenues for health care and ot...

Augustin Landier and Vinay B. Nair are both professors of finance and have taught at University of Chicago, The Wharton School, New York University, Indian School of Business and INSEAD among other schools. They also serve as research directors and portfolio managers for Quantitative Strategies in a New York based hedge fund, Old Lane...

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Format:HardcoverDimensions:208 pages, 5.71 × 8.39 × 0.79 inPublished:November 29, 2008Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195370147

ISBN - 13:9780195370140

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"Genuinely persuasive"--Publishers Weekly "Socially Responsible Investment (SRI) is attracting increasing attention around the world, as a complement to laws and regulations in the promotion of good corporate behaviour. In a very readable, well documented and thought out book, Landier and Nair address the key questions: "What is SRI? Does it work? Can one do well by doing good? Investing for Change brings a balanced, yet upbeat view of SRI, and is a absolute must-read for all those, academics and practitioners of finance like the authors, or simple investors, who have an interest in socially responsible investment"--Jean Tirole, director, Toulouse School of Economics "This is a must-read for anyone interested in SRI. The authors are experts in the field and understand all the technicalities, and at the same time write lucidly and entertainingly. They make a compelling case that SRI is a phenomenon that will be central to capital markets in the next decade."--Geoffrey Heal, Columbia Business School