ESG rankings, lnuestor Preferences, and Net Flows: Euidence from US Mutual Equity Funds in Market Downturns
Master thesis
Permanent lenke
https://hdl.handle.net/11250/3104928Utgivelsesdato
2023Metadata
Vis full innførselSamlinger
- Master of Science [1822]
Sammendrag
This study examines the relationship between fund sustainability and net flows of
open-ended US mutual equity funds, and investor preferences in market downturns.
We find evidence of a pattern using panel data fixed effects models and
incorporating ESG scores from multiple providers. During market downturns,
investors tend to withdraw from funds with weak sustainability performance and
gravitate towards those with strong sustainability performance. This preference for
sustainability holds for both the COVID-19 pandemic and the Russia-Ukraine War.
Overall, the study provides valuable insights into the relationship between fund
sustainability, investor behavior, and market conditions, highlighting the
significance of sustainability as a factor influencing investment decisions in times
of uncertainty.
Beskrivelse
Masteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2023