The role of ESG scores in ESG fund performance and institutional investor selection

被引：1
|
作者：
Liang, Jinma [1 ,2 ]
Zhang, Yicheng [3 ]
Li, Yuanheng [4 ]
机构：
[1] Guangzhou Coll Commerce, Sch Law, Guangzhou 511363, Peoples R China
[2] Guangzhou Coll Commerce, Ctr Rule Law Guangdong Hong Kong Macao Greater Bay, Guangzhou 511363, Peoples R China
[3] Cent Univ Finance & Econ, Sch Finance, Beijing 102206, Peoples R China
[4] Zhejiang Univ, Sch Publ Affairs, Hangzhou 310058, Zhejiang, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2024年 / 65卷
关键词：
ESG funds; Institutional investors; Fund performance;
D O I：
10.1016/j.frl.2024.105553
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper conducts a study on ESG funds between 2012 and 2022 to analyze the impact of ESG fund performance indicators on their institutional ownership ratios. The findings show that the performance of ESG funds is positively correlated with the proportion of institutional holdings. External institutional investors tend to be more inclined to hold funds with excellent historical performance, while fund management companies are more inclined to hold funds with poorer historical performance. In addition, fund management companies are more inclined to hold funds with high ESG scores.
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页数：8
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