Research On Fund Social Performance's Impact On Equity Fund Performance

In recent years,the fund industry has witnessed a sustained and rapid development.The net fund value and the scale of fund have hit record highs.It has become an important force that can't be ignored in the entire financial system and plays an important role in raising the efficiency of China's economy and promoting the healthy development of the market.On the other hand,with the rise of the SRI Fund(Social Responsible Investment),scholars have begun to pay attention to and explore corporate social responsibility(CSR)and funds The relationship between performance.However,with the continuous opening up and development of China's financial market,the social responsibility awareness of securities fund practitioners in our country has also risen significantly.The concept of social responsibility investment has been continuously spread in our country,compared with the development status in foreign countries,our country still needs to be further regulated in social responsibility investment.Based on the above background and the theory of portfolio,this paper aims to use empirical research methods to explore whether the performance of China's equity funds in the conduct of social responsibility investment will have a positive impact on their performance.This paper selects 143 equity funds in China's securities market during the period from 2011 to 2016 as samples and constructs the social responsibility performance scores of equity funds based on principal component analysis.Through empirical research,Meanwhile,the better the social responsibility performance of the equity funds,the better the performance of the fund.In addition,the performance of the equity fund's social responsibility has a certain effect on the fund's performance of the predictive role,and the above conclusion passed the robustness test.Based on the above conclusions,this paper suggests that it is necessary to further raise the awareness of institutional investors about social responsibility and to guide and supervise the social responsibility investment.