Inwestowanie odpowiedzialne społecznie – nowy trend na rynku kapitałowym
Socially responsible investing – new trend on the capital market

Summary/Abstract: Purpose – the main aim of this paper is to present the history and the concept of socially responsible investing. The purpose of this article is an attempt to find the answer to the following research question: whether socially responsible companies listed on the Warsaw Stock Exchange operating under the rules of CRS should be a particular subject of interest of stock market investor. Design/methodology/approach – the dynamic growth of socially responsible investing has been observed on the world. Investing in companies applying principles of social responsibility becomes more and more popular. Today we observe a new formula, according to which the social and economic objectives are not only in symbiosis, but become part of competitive advantage. The article describes experience from American market and European market. Findings – the article includes a comparative analysis of the results of indexes of socially responsible: RESPECT, DJSI World, FTSE4GOOD Global, MSCI KLD 400 Social and other polish indexes (WIG, WIG20). The data being presented show that their efficiency varies. Information about the participation of the company in the index is not a guarantee to the investor that the investment in the company in question will bring a reasonable return, but the tendency of connection of ESG factors with the financial analysis is an irreversible tendency in future. Originality/value – the article constitutes a contribution to research and debate on the increase meaning of socially responsible investing in Poland.

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