Are ESG Funds More Transparent?

Dantas, Manuela

doi:10.2139/ssrn.3269939

Cited by 20 publications

(15 citation statements)

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“…Dantas (2021) document that ESG fund managers are less myopic in terms of their investments as compared to other conventional fund counterparts. Therefore, longer horizon investors, like ESG fund managers, prefer investments in firms with high ESG ratings (Starks, Venkat, & Zhu, 2017).…”

Section: Introductionmentioning

confidence: 99%

“…Within the ESG investment space, investors prefer making investments in IG corporate bonds (issued by ESG leaders) over ESG leaders in HY corporate bond and equity markets. Dantas (2021) document that ESG fund managers are less myopic in terms of their investments as compared to other conventional fund counterparts. Therefore, longer horizon investors, like ESG fund managers, prefer investments in firms with high ESG ratings (Starks, Venkat, & Zhu, 2017).…”

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confidence: 99%

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COVID‐19 and ESG preferences: Corporate bonds versus equities

Singh

2021

Int Rev Finance

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I examine investors' within ESG investment preferences during the COVID-19 pandemic by investigating the return spillover effects across the three different corporate bonds and equities-based investment strategies. Investors prefer making investments in ESG leaders in the investment-grade corporate bond market over ESG leaders in the equity and high yield corporate bond markets during times of uncertainty. It suggests that capital flows away from high yield corporate bond and equity markets to the investment-grade corporate bond market. Investors find refuge in firms with relatively higher ESG ratings and creditworthiness in the fixed income market over the equity market during crisis periods.

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Section: Introductionmentioning

confidence: 99%

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confidence: 99%

COVID‐19 and ESG preferences: Corporate bonds versus equities

Singh

2021

Int Rev Finance

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“…Firstly, carbon emission intensity likely decreased consistently during this period due to the growing importance of environmental, social, and governance (ESG) factors and increased asset management by international investment companies [49,50]. Additionally, technological advancements enabled more efficient carbon emission reduction.…”

Section: Endogeneity Concernsmentioning

confidence: 99%

A Perspective on Management Myopia: The Impact of Digital Transformation on Carbon Emission Intensity

Pan

2023

Sustainability

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Digitalization has emerged as an indispensable pathway for enterprises aiming to achieve low-carbon development, demanding strategic implementation by managers who play a crucial role in shaping organizational outcomes. This study utilizes text mining and IPCC methods (based on The Intergovernmental Panel on Climate Change standards) to assess the level of digital transformation and enterprise carbon emission intensity among Shanghai and Shenzhen A-share listed companies from 2008 to 2015. This study also investigates the impact of digital transformation on enterprise carbon emission intensity and examines the influence of myopic characteristics among managers along with their underlying mechanisms. The results indicate that: (1) Digital transformation decreases enterprise carbon emission intensity, with robust results supported by instrumental variable test, the Oster test, confounding variable threshold impact test, etc. (2) Heterogeneity analysis demonstrates that digital transformation is particularly effective in reducing enterprise carbon emission intensity for companies located in cities without national carbon trading pilot policies, heavy industrial sectors, and those influenced by peer effects. (3) The study on mechanisms reveals that management myopia poses a barrier to the decarbonization process driven by digitalization. It further explores the moderating effects of green innovation, sustainable investment, and environmental awareness, revealing that management constrained by innovation myopia, investment myopia, and environmental responsibility myopia faces challenges in promoting decarbonization. By examining the internal aspects of management myopia, we provide valuable insights and recommendations for enterprises seeking to achieve decarbonization through digital transformation.

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“…China experienced fast economic growth during the sample period, which coincided with the increasing integration of global capital markets, the increasing popularity of ESG investing, and energy policy discussions regarding the transition from fossil fuels to cleaner sources of energy. Environmental, social, and governance (ESG) investing pays attention to the social responsibility of investment, which creates direct and indirect incentives for the development of technologies that improve the efficiency of energy sources [57]. Therefore, ESG (fund) is a vital variable affecting CEE.…”

Section: Data Resourcesmentioning

confidence: 99%

Foreign Direct Investment and Carbon Emission Efficiency: The Role of Direct and Indirect Channels

Wang

Zhang

2022

Sustainability

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A large number of foreign direct investment inflows not only promote China’s economic development but also bring environmental pollution problems., Improving carbon emission efficiency and cutting carbon emissions while maintaining China’s attractiveness to foreign investment has become a topic of concern in China. Firstly, this paper measures the carbon emission efficiency of different provinces in China with the super efficiency DEA model and studies the temporal and spatial characteristics of carbon emission efficiency. Secondly, the impact of FDI on carbon emission efficiency is investigated. FDI negatively affects carbon emissions but positively affects carbon emission efficiency. In addition, the interaction term of FDI and each channel negatively affects carbon emission efficiency, indicating that each channel has a negative impact on the relationship between FDI and carbon emission efficiency. Thirdly, the results of the sub-sample analysis show that the impact of FDI on carbon emission efficiency has the feature of regional heterogeneity. Based on the results, policy implications regarding the improvement of carbon emission efficiency are proposed.

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Are ESG Funds More Transparent?

Cited by 20 publications

References 0 publications

COVID‐19 and ESG preferences: Corporate bonds versus equities

COVID‐19 and ESG preferences: Corporate bonds versus equities

A Perspective on Management Myopia: The Impact of Digital Transformation on Carbon Emission Intensity

Foreign Direct Investment and Carbon Emission Efficiency: The Role of Direct and Indirect Channels

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