The academic literature on ESG investing is heavily focused on performance and does not sufficiently explore many relevant aspects including the fund flows dimension. This is a concern because of the potential conflicts of interest which exists between the investment management industry and investors. Examining the fund flows and the impact of being designated a Socially Responsible Investment (SRI) manager can provide insights into the motivations and issues faced by investment managers, fund investors and the industry agents who provide SRI designations. The aim of my research is (1) to document and analyse the gaps in the academic literature on ESG investing, (2) to analyse the fund flows for ESG investing across segments of the ESG market place, and (3) apply an innovative solution to the potential endogeneity issues which confound this form of analysis.
3 Sep 2019
The Global Research Alliance for Sustainable Finance and Investment Annual Conference (2nd : 2019)