Presidential Address: Sustainable Finance and ESG Issues-Value versus Values

• 成果类型: Article
• 署名作者: Starks, Laura T.
• 署名单位: University of Texas System; University of Texas Austin
• 刊物名称: JOURNAL OF FINANCE
• ISSN/ISSBN: 0022-1082
• DOI: 10.1111/jofi.13255
• 发表日期: 2023
• 页码: 1837-1872
• 关键词: corporate social-responsibility; mutual fund performance; SHAREHOLDER ACTIVISM; institutional investors; FIRM-PERFORMANCE; COUNTRIES MATTER; governance; INVESTMENT; IMPACT; cost

摘要

In this address, I discuss differences across investor and manager motivations for considering sustainable finance-value versus values motivations-and how these differences contribute to misunderstandings about environmental, social, and governance investment approaches. The finance research community has the ability and responsibility to help clear up these misunderstandings through additional research, which I suggest.