Climate Change Data Portal
| DOI | 10.1057/s41260-023-00345-w |
| Which investors support the transition toward a low-carbon economy? Exit and Voice in mutual funds | |
| 发表日期 | 2024 |
| ISSN | 1470-8272 |
| EISSN | 1479-179X |
| 英文摘要 | Reducing portfolio carbon footprints (Exit) and voting in favor of climate-related shareholder proposals (Voice) are among the main actions that investors can take to promote an accelerated transition toward a low-carbon economy. This paper studies three important investor groups that can be instrumental in driving the transition and evaluates their Exit and Voice behavior. I find that the five largest asset managers perform poorly on Exit and Voice over the full sample period but improved on both in more recent years. Only a small fraction of signatories to sustainable investor initiatives are supportive of the transition. Counterintuitively, investors who perform poorly on Exit, perform well on Voice. Finally, I examine the financial consequences of employing Exit and Voice and find that Exit is positively related to risk-adjusted fund returns; however, this is not necessarily attributable to superior skill of fund managers. |
| 英文关键词 | Exit; Voice; Mutual funds; Climate change; Transition; Fund performance; D22; G11; G23; Q51; Q54 |
| 语种 | 英语 |
| WOS研究方向 | Business & Economics |
| WOS类目 | Business, Finance |
| WOS记录号 | WOS:001188061900001 |
| 来源期刊 | JOURNAL OF ASSET MANAGEMENT
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/292061 |
| 作者单位 | University of Augsburg |
| 推荐引用方式 GB/T 7714 | . Which investors support the transition toward a low-carbon economy? Exit and Voice in mutual funds[J],2024. |
| APA | (2024).Which investors support the transition toward a low-carbon economy? Exit and Voice in mutual funds.JOURNAL OF ASSET MANAGEMENT. |
| MLA | "Which investors support the transition toward a low-carbon economy? Exit and Voice in mutual funds".JOURNAL OF ASSET MANAGEMENT (2024). |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
