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Journal of Sustainable Finance & Investment最新文献

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Progress and notions of progress in sustainable finance 可持续金融的进展和进展概念
IF 4.3
Journal of Sustainable Finance & Investment Pub Date : 2022-11-28 DOI: 10.1080/20430795.2022.2148816
Syren Johnstone, Frederick J. Long, Abdullah Bin Azhar
{"title":"Progress and notions of progress in sustainable finance","authors":"Syren Johnstone, Frederick J. Long, Abdullah Bin Azhar","doi":"10.1080/20430795.2022.2148816","DOIUrl":"https://doi.org/10.1080/20430795.2022.2148816","url":null,"abstract":"The sustainable finance industry has boomed in the face of uncertainties ranging from its justification as a viable financial product to its impact in terms of sustainability outcomes. This article...","PeriodicalId":45546,"journal":{"name":"Journal of Sustainable Finance & Investment","volume":"336 ","pages":""},"PeriodicalIF":4.3,"publicationDate":"2022-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138504668","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The cost of insuring against underperformance of ESG screened index funds 防范ESG筛选指数基金表现不佳的保险成本
IF 4.3
Journal of Sustainable Finance & Investment Pub Date : 2022-11-25 DOI: 10.1080/20430795.2022.2147778
Peter Løchte Jørgensen, Mathias Danielsen Plovst
{"title":"The cost of insuring against underperformance of ESG screened index funds","authors":"Peter Løchte Jørgensen, Mathias Danielsen Plovst","doi":"10.1080/20430795.2022.2147778","DOIUrl":"https://doi.org/10.1080/20430795.2022.2147778","url":null,"abstract":"<p><b>ABSTRACT</b></p><p>In recent years, investors have shown significant interest in responsible investment products, including sustainable and ESG screened index funds. A natural concern for prospective investors in such funds is that a sustainable fund might underperform its classical unscreened counterpart. This paper argues that this underperformance risk can be analyzed by way of an <i>option to exchange one asset for another</i>, and we derive a simple formula that quantifies the fair annual insurance premium for covering this risk. Only a single parameter is needed to apply the formula. This parameter – a relative index volatility – is readily estimated from market data. Our empirical work utilizes data from BlackRock's ETF (iShares) universe to estimate the cost of insuring against underperformance risk of some common ESG screened funds. We find that the fair cost of underperformance insurance typically corresponds to sacrificing in advance between 0.5% and 3.0% of the annual return.</p>","PeriodicalId":45546,"journal":{"name":"Journal of Sustainable Finance & Investment","volume":"338 ","pages":""},"PeriodicalIF":4.3,"publicationDate":"2022-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138504667","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Gender diversity in the board room and sustainable growth rate: the moderating role of family ownership 董事会中的性别多样性与可持续增长率：家庭所有权的调节作用
IF 4.3
Journal of Sustainable Finance & Investment Pub Date : 2022-10-28 DOI: 10.1080/20430795.2022.2138695
Ali Amin, Rizwan Ali, Ramiz ur Rehman, Ahmed A. Elamer
{"title":"Gender diversity in the board room and sustainable growth rate: the moderating role of family ownership","authors":"Ali Amin, Rizwan Ali, Ramiz ur Rehman, Ahmed A. Elamer","doi":"10.1080/20430795.2022.2138695","DOIUrl":"https://doi.org/10.1080/20430795.2022.2138695","url":null,"abstract":"ABSTRACT This study examines the impact of gender diversity on sustainability growth, and moderating role of family ownership in an emerging economy, Pakistan. We employed 3730 firm-year observations, comprising of 307 non-financial firms listed on Pakistan Stock Exchange, over a period 2008–2020. Using framework of agency theory, resource dependence theory and social identity theory, we report that gender diversity results in higher sustainable growth in our sample firms. Further, our results indicate that due to strong identification of family owners with their firms, their presence positively moderates this relationship. Overall, we report that despite of a weak corporate governance mechanism, the presence of female directors and family owners results in higher firm growth and low agency conflicts, which serve as positive signals for the investors. Our study provides empirical support to mandatory appointment of female directors on boards and urge the policymakers to focus on capacity building of female workforce.","PeriodicalId":45546,"journal":{"name":"Journal of Sustainable Finance & Investment","volume":"13 1","pages":"1577 - 1599"},"PeriodicalIF":4.3,"publicationDate":"2022-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49501555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
Does risk disclosure reporting quality reduce credit risk of GCC conventional and Islamic banks? 风险披露报告质量是否降低了海湾合作委员会传统银行和伊斯兰银行的信贷风险?
IF 4.3
Journal of Sustainable Finance & Investment Pub Date : 2022-09-19 DOI: 10.1080/20430795.2022.2124835
Haitham Nobanee, Nejla Ould Daoud Ellili
{"title":"Does risk disclosure reporting quality reduce credit risk of GCC conventional and Islamic banks?","authors":"Haitham Nobanee, Nejla Ould Daoud Ellili","doi":"10.1080/20430795.2022.2124835","DOIUrl":"https://doi.org/10.1080/20430795.2022.2124835","url":null,"abstract":"<p><b>ABSTRACT</b></p><p>This study measures the degree of corporate risk disclosure and examines its impact on the credit risk of banks listed on the GCC financial markets during the period 2007–2021. The results of the content analysis show a low degree of overall risk disclosure index and sub-risk categories, except for financial risk disclosure, for all GCC-listed banks. The effect of the degree of risk disclosure on credit risk is examined by applying a robust generalized method of moment system estimation (GMM) to dynamic panel data. The results of the GMM show that the impact of disclosures of strategic risk, operational risk, financial risk, damage risk, and risk management vary from one country to another, but overall, they are positively associated with the financial stability of all GCC-listed banks. In terms of comparison, the results show overall significant differences in credit risk, strategic risk disclosure, operational risk disclosure, operational risk disclosure, firms’ damage risk disclosure, and risk management disclosure between conventional and Islamic banks as well across GCC countries.</p>","PeriodicalId":45546,"journal":{"name":"Journal of Sustainable Finance & Investment","volume":"348 ","pages":""},"PeriodicalIF":4.3,"publicationDate":"2022-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138504666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Index construction for sustainable development investing 可持续发展投资的指标构建
IF 4.3
Journal of Sustainable Finance & Investment Pub Date : 2022-08-02 DOI: 10.1080/20430795.2022.2105790
A. Bassen, C. Fieberg, O. Kordsachia, K. Lopatta, Bastian Nendza
{"title":"Index construction for sustainable development investing","authors":"A. Bassen, C. Fieberg, O. Kordsachia, K. Lopatta, Bastian Nendza","doi":"10.1080/20430795.2022.2105790","DOIUrl":"https://doi.org/10.1080/20430795.2022.2105790","url":null,"abstract":"ABSTRACT We implement the definition for Sustainable Development Investing (SDI) developed by the Global Investors for Sustainable Development (GISD) Alliance to construct an investable global SDI-aligned equity index. To this end, we create a proprietary methodology to rate companies’ SDI contribution using the Sustainable Development Goals (SDGs) as the appropriate unit of measurement. We find that the inclusion of SDI preferences in a multi-objective portfolio yields similar risk-return characteristics as a benchmark portfolio. This article informs institutional investors and index providers about practical approaches to implement the SDI definition with recently developed commercial data solutions. In this context, we review and provide an overview of data availability for the classification of companies’ alignment to the SDGs based on their products and services.","PeriodicalId":45546,"journal":{"name":"Journal of Sustainable Finance & Investment","volume":"13 1","pages":"702 - 722"},"PeriodicalIF":4.3,"publicationDate":"2022-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44425152","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Mitigating the destructive outcome of negative environmental stock market behaviours on environmental health security in China 缓解负面环境股票市场行为对中国环境健康安全的破坏性后果
IF 4.3
Journal of Sustainable Finance & Investment Pub Date : 2022-07-03 DOI: 10.1080/20430795.2020.1809291
Henry Asante Antwi
{"title":"Mitigating the destructive outcome of negative environmental stock market behaviours on environmental health security in China","authors":"Henry Asante Antwi","doi":"10.1080/20430795.2020.1809291","DOIUrl":"https://doi.org/10.1080/20430795.2020.1809291","url":null,"abstract":"Environmental health security as a developmental goal is directly linked to environmental quality across the globe. China believes that maintaining an attractive, stable and profitable environmenta...","PeriodicalId":45546,"journal":{"name":"Journal of Sustainable Finance & Investment","volume":"85 1","pages":"870 - 885"},"PeriodicalIF":4.3,"publicationDate":"2022-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/20430795.2020.1809291","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59997158","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Editorial: growing gender lens investing in emerging markets 社论:越来越多的性别视角投资于新兴市场
IF 4.3
Journal of Sustainable Finance & Investment Pub Date : 2022-05-20 DOI: 10.1080/20430795.2022.2070121
C. Robino, E. Jackson
{"title":"Editorial: growing gender lens investing in emerging markets","authors":"C. Robino, E. Jackson","doi":"10.1080/20430795.2022.2070121","DOIUrl":"https://doi.org/10.1080/20430795.2022.2070121","url":null,"abstract":"ABSTRACT The rapid scaling up of all forms of sustainable finance has become a priority of the international community. This task is especially crucial for gender lens investing (GLI), whose growth in low- and middle-income countries—though dynamic, innovative, and gaining momentum—remains too slow, fragmented, and Northern-driven, not only in terms of the origin of capital but also in its design and implementation. This special issue of multidisciplinary papers contributes to pushing the frontiers of GLI growth forward in five areas: the role and scope of GLI; the importance of the care economy; GLI implementation strategies; Southern-led, women-led capital mobilization; and the interactions of gender and performance in investee firms. Driven by reciprocal scholar-practitioner partnerships, future research on the growth of gender lens investing in emerging markets should be Southern directed, methodologically plural, anchored in open data, and actionable in real time.","PeriodicalId":45546,"journal":{"name":"Journal of Sustainable Finance & Investment","volume":"12 1","pages":"671 - 683"},"PeriodicalIF":4.3,"publicationDate":"2022-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44018320","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Dynamic portfolio decisions with climate risk and model uncertainty 具有气候风险和模型不确定性的动态投资组合决策
IF 4.3
Journal of Sustainable Finance & Investment Pub Date : 2022-04-26 DOI: 10.1080/20430795.2022.2045890
Alexey Rubtsov, Sally Shen
{"title":"Dynamic portfolio decisions with climate risk and model uncertainty","authors":"Alexey Rubtsov, Sally Shen","doi":"10.1080/20430795.2022.2045890","DOIUrl":"https://doi.org/10.1080/20430795.2022.2045890","url":null,"abstract":"<p><b>ABSTRACT</b></p><p>We study the effect of investment horizon on the optimal stock–bond–cash portfolio in a dynamic model with uncertainty about climate change. The stock risk premium is assumed to be an affine function of the average global temperature and an unobserved factor which is estimated via Bayesian learning. We assume that the probability distribution of future temperature is uncertain. The optimal investment strategy, robust to the uncertainty about climate change, is derived in closed form and analyzed for returns on the S&amp;P500 index and the S&amp;P500 ESG index. We find that stock market investment is quite sensitive to climate uncertainty with allocation to the S&amp;P500 index being the most sensitive. We also show that, even for relatively short time horizons, welfare losses from climate uncertainty could be large for investments in either the S&amp;P500 index or the S&amp;P500 ESG index.</p>","PeriodicalId":45546,"journal":{"name":"Journal of Sustainable Finance & Investment","volume":"360 ","pages":""},"PeriodicalIF":4.3,"publicationDate":"2022-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138504650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
India’s Social Stock Exchange (ISSE) – A 360° Analysis - Today’s commitment for tomorrow’s action 印度社会证券交易所（ISSE）——360°分析——今天对明天行动的承诺
IF 4.3
Journal of Sustainable Finance & Investment Pub Date : 2022-04-11 DOI: 10.1080/20430795.2022.2061404
C. Patel, Naresh K. Patel
{"title":"India’s Social Stock Exchange (ISSE) – A 360° Analysis - Today’s commitment for tomorrow’s action","authors":"C. Patel, Naresh K. Patel","doi":"10.1080/20430795.2022.2061404","DOIUrl":"https://doi.org/10.1080/20430795.2022.2061404","url":null,"abstract":"ABSTRACT This conceptual research aims to study the core components of India’s first proposed Social Stock Exchange (SSE), its structure and regulations, including types of eligible social enterprises, investors and financial instruments, disclosures, and reporting requirements along with the global SSE to carry out an informed and nuanced comparison. The research relies primarily on secondary and descriptive in the study. The study results show that India, the world’s most populous democracy, is about to launch a SSE in 2021 which will serve as a mediator between social enterprises that need funding and investors who are willing to invest their money and by designing and providing robust solutions which transform the habit of charity into a culture of social investment. Exchange focuses more on the development of the ecosystem, emphasizing policy and regulatory advocacy where Social ends and profit motives do not contradict each other. This implies profit generation for social purposes is a key sustainability feature. SSE should be a means for the markets to serve the society not for society to serve the markets.","PeriodicalId":45546,"journal":{"name":"Journal of Sustainable Finance & Investment","volume":"13 1","pages":"1394 - 1414"},"PeriodicalIF":4.3,"publicationDate":"2022-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43518236","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Statement of Retraction: Nexus between sustainable economic growth and foreign private investment: evidence from emerging and developed economies 撤回声明：可持续经济增长与外国私人投资之间的联系：来自新兴和发达经济体的证据
IF 4.3
Journal of Sustainable Finance & Investment Pub Date : 2022-03-14 DOI: 10.1080/20430795.2022.2050620
{"title":"Statement of Retraction: Nexus between sustainable economic growth and foreign private investment: evidence from emerging and developed economies","authors":"","doi":"10.1080/20430795.2022.2050620","DOIUrl":"https://doi.org/10.1080/20430795.2022.2050620","url":null,"abstract":"","PeriodicalId":45546,"journal":{"name":"Journal of Sustainable Finance & Investment","volume":"12 1","pages":"669 - 669"},"PeriodicalIF":4.3,"publicationDate":"2022-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48331681","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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