An Empirical Study of the Reaction of China's Capital Market to the SRI
研究中国首个社会责任投资指数推出后样本公司的股价变化，发现市场反应积极，尤其上海市场和清洁技术公司，表明中国资本市场开始认可非财务的环境因素。
Socially Responsible Investment(SRI) has become the mainstream in developed capital markets.But the SRI industry in China is still in an undeveloped stage.Facing the establishment of the first SRI index in China,this paper explores the price change of sample companies using the event study analysis to exam the reaction of China's capital market to the introduction of SRI.By doing that,the extent of recognition of China's capital market about the environmental factor,which is non-financial,is measured.The empirical result about the price change of sample companies is positive,especially those companies in Shanghai market and ones that deal with clean productive technology and clean products.It demonstrates a bright future for the development of SRI in China.At last,some concerned suggestions are provided.