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system, which in the second step is used to distinguish three types of fund providers: ESG hermits, ESG ambassadors and ESG … evangelists. Our results suggest that socially responsible fund providers with a stronger impact orientation, such as ESG … impact orientation, such as ESG hermits, focus more on purity aspects and therefore tend to utilize strategies that defend …
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As part of the Next Generation EU (NGEU) program, the European Commission has pledged to issue up to EUR 250 billion of the NGEU bonds as green bonds, in order to confirm their commitment to sustainable finance and to support the transition towards a greener Europe. Thereby, the EU is not only...
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This study investigates the growing importance of sustainability in financial markets by estimating the extent of capitalisation of companies' commitment to sustainability on their market value. The spreading concern for social and environmental issues, and especially for the material risks of...
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Purpose - In this study, the authors provide a systematic literature review of articles in the emerging areas of green finance and discuss the status and challenges in sustainability disclosure, which is crucial for the efficiency of green financial instruments. The authors then review the...
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We examine the novel phenomenon of sustainability-linked bonds (SLBs). These bonds’ coupon is contingent on the issuer achieving a predetermined sustainability performance target. We estimate the yield differential between SLBs and non-sustainable counter-factuals by matching bonds from the...
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The debate over the broader impact of the private equity industry has been a contentious topic in the academic literature. While recently, private equity investors have endorsed sustainability in their investment strategies, little is known whether the industry promotes sustainable...
Persistent link: https://www.econbiz.de/10014500930