The level of sustainability and mutual fund performance in Europe: An empirical analysis using <scp>ESG</scp> ratings

Abate, Guido; Basile, Ignazio Giorgio; Ferrari, Pierpaolo

doi:10.1002/csr.2175

Cited by 58 publications

(37 citation statements)

References 51 publications

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“…The first one is the large complexity of manifesting corporate social responsibility amid the COVID-19 crisis. During a crisis, companies face a deficit of resources even for supporting their main activities, while corporate social responsibility, which belongs to additional activities and is financed according to the leftover principle even in the period of stability, becomes almost inaccessible for business management-at least, in the traditional form, which supposes limited opportunities for the return of social investments of business, especially during a crisis (Abate et al 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

Corporate Fight against the COVID-19 Risks Based on Technologies of Industry 4.0 as a New Direction of Social Responsibility

Inshakova

Sozinova

Litvinova

2021

Risks

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The purpose of the article: to find new (most effective) directions for the corporate COVID-19 risks management and developing management implications for leading this fight amid the pandemic and crisis for sustainable development. The methods of correlation and regression analysis are used. It is proved that the most perspective method of the corporate fight against the COVID-19 risks is a flexible transformation of business according to the new conditions based on the Industry 4.0 technologies. This paper further develops and supplements the concept of corporate social responsibility, including a new direction—corporate fight against the COVID-19 risks in it. The authors develop management implications on improving the corporate fight against the COVID-19 risks as a new direction of corporate social responsibility amid the pandemic. The advantages of using the Industry 4.0 technologies for the corporate fight against the viral threat include reduction of the share of the population with household expenditures for healthcare above 25% of total expenditures or incomes, reduction of the number of new cases per 1 million people, and an increase of the self-isolation index, the share of responsible employers amid COVID-19 risks.

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Section: Literature Reviewmentioning

confidence: 99%

Corporate Fight against the COVID-19 Risks Based on Technologies of Industry 4.0 as a New Direction of Social Responsibility

Inshakova

Sozinova

Litvinova

2021

Risks

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“… Friede et al (2015) conducted a study on ESG/SRI factors and found a significant positive relationship between ESG performance and financial performance. Abate et al (2021) shows that fund portfolio composed with high ESG-rating securities performed better that low ESG-compliant counterparts.…”

Section: Discussion Of the Utaut For Integration Of Esg Information I...mentioning

confidence: 95%

Integration of ESG Information Into Individual Investors’ Corporate Investment Decisions: Utilizing the UTAUT Framework

Park

2022

Front. Psychol.

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Environmental, Social, and Governance (ESG) criteria are now considered significant, global non-financial evaluating factors of corporate value. However, no attention is given to what influences the integration of ESG information by individual investors in their investment decisions. This study first identifies different types of information investors use to make investment decisions. Risks identified in information integration in investment decision making is reviewed. Next, the Unified Theory of Acceptance and Use of Technology (UTAUT) model is used to identify individual investors’ investment tendencies and the factors affecting integration of ESG information into investment decisions. Each of four categories for UTAUT innovation adoption factors (performance expectancy, effort expectancy, social influences, and facilitating conditions) are discussed in relation to how they affect individual investors’ integration of ESG information. Standardization of ESG reporting and evaluation frameworks would reduce efforts to adopt ESG information and could build a strong foundation for facilitating ESG information integration. Corporates’ efforts to further communicate their ESG management through their investor relations and active governmental well as non-governmental organizations’ participation are recommended.

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“…He reported that the two classes of mutual funds do not differ statistically in the characteristics of assets they hold, in diversification, or in overall performance. In constrast, a similar study [1] on European mutual funds reports a superior "efficiency" of funds that focus on high ESG rated securities. Giese et al [39] studied ESG causality on (as opposed to "correlation with") financial performance by considering transmission channels of systematic and idiosyncratic risk within a standard discounted cash flow model, through which ESG ratings data (specifically MSCI ESG ratings data) impact valuation and performance.…”

Section: Introductionmentioning

confidence: 90%

ESG-Valued Portfolio Optimization and Dynamic Asset Pricing

Lauria¹,

Lindquist²,

Mittnik³

et al. 2022

Preprint

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ESG ratings provide a quantitative measure for socially responsible investment. We present a unified framework for incorporating numeric ESG ratings into dynamic pricing theory. Specifically, we introduce an ESG-valued return that is a linearly constrained transformation of financial return and ESG score. This leads to a more complex portfolio optimization problem in a space governed by reward, risk and ESG score. The framework preserves the traditional risk aversion parameter and introduces an ESG affinity parameter. We apply this framework to develop ESG-valued: portfolio optimization; capital market line; risk measures; option pricing; and the computation of shadow riskless rates.

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The level of sustainability and mutual fund performance in Europe: An empirical analysis using ESG ratings

Cited by 58 publications

References 51 publications

Corporate Fight against the COVID-19 Risks Based on Technologies of Industry 4.0 as a New Direction of Social Responsibility

Corporate Fight against the COVID-19 Risks Based on Technologies of Industry 4.0 as a New Direction of Social Responsibility

Integration of ESG Information Into Individual Investors’ Corporate Investment Decisions: Utilizing the UTAUT Framework

ESG-Valued Portfolio Optimization and Dynamic Asset Pricing

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