In this paper we investigate the possible benefits of integrating ESG considerations into fixed income portfolio construction. When we create portfolios ranked by a composite ESG value or by an environmental ranking we find evidence to suggest that higher ESG rankings produce an improvement in...

In the extensive debate about investment professionals' ability to add value, there has been scant evidence on the role played by industry expertise. To shed light on this issue, we study own industry investing. Specifically, we analyse how well individual mutual funds as well as mutual fund...