Most studies into the performance of socially responsible investment vehicles have focused on the performance of sustainable or socially responsible mutual funds. This research has been complemented recently by a number of studies that have examined the performance of sustainable investment indices. In both cases, the majority of studies have concluded that the returns of socially responsible investment vehicles have either underperformed, or failed to outperform, comparable market indices. Although the impact of sustainable indices to date has been limited, the (...) recent launch of sustainable indices by Dow Jones and FTSE suggests that more attention is being paid to the subject by financial markets, investors, and companies. This development raises a number of important issues which are reviewed in this article: (a) the performance of indices compared with their benchmark indices; (b) the methodologies employed in compiling the indices; and (c) the impact of the indices on companies and the investment community. The article concludes with a number of suggestions for areas that merit future research. (shrink)

This research examines the possibility of developing a new corporate social responsibility (CSR) auditing system based on the analysis of current CSR literature and interviews conducted with a number of interested and knowledgeable stakeholders. This work attempts to create a framework for social responsibility auditing compatible with an existing commercially successful environmental audit system. The project is unusual in that it tackles the complex issue of CSR auditing with a scientific approach using Grounded Theory. On the evidence discovered to date (...) in the literature review and the interviews, CSR seems to be perceived by many as the social strand of sustainable development. However, there is far less agreement regarding its measurement. Both the literature review and the interview analysis indicate that developing an applied CSR auditing procedure will be a challenging task. This is principally due to the lack of formal study of this complex subject, which, despite the widespread debate it has engendered, still lacks a single and broadly accepted definition. The concepts developed from the findings of this research, together with the key factors identified in a literature review of CSR, were developed into a prospective CSR audit protocol. (shrink)

The article is an overview of the growth of an interest in painting, from the mid-sixteenth to the mid-nineteenth century, among a public not much involved in either the production or purchase of works of art. For the earlier period the main evidence is provided by guidebooks and other publications of a more general type, especially in Italy, which often incorporated the names of leading artists, but seldom provided information about their careers or where their works could be seen. This (...) situation only began to change in a significant way in the second half of the seventeenth century. From that time onwards a new type of publication appeared, that is to say catalogues of major collections of paintings usually open to members of the public. This development was particularly evident in Germany and later in Austria. Such publications rarely included much historical or chronological information about the artists themselves, and the collections were only rarely arranged on geographical or chronological lines, a practice at first mainly confined to early paintings which previously had rarely been displayed at all. A more didactic and historical approach to display and to the compilation of museum catalogues only emerged from around 1850, after Frédéric Villot, curator of paintings at the Louvre, created the model for a new type of catalogue intended both as a contribution to art-historical knowledge and as a source of information for visitors. (shrink)