Albuquerque, Rui A.; Koskinen, Yrjo; Santioni, Raffaele - 2021
This paper studies the trading behavior of U.S. actively managed equity mutual funds during the COVID-19 market crash. We show that Environmental, Social, and Governance (ESG) funds helped to stabilize the market by contributing to the resiliency of ESG stocks, but interestingly non-ESG funds...