HIGHLIGHTS
- who: Aneesh Raghunandan from the London School of Economics, London, UK have published the paper: Do ESG funds make stakeholder-friendly investments?, in the Journal: (JOURNAL)
- what: The authors show that scores are correlated with the quantity of voluntary ESG-related disclosures but not with firms' compliance records or actual levels of carbon emissions. The authors assess firms' track records with respect to these groups of stakeholders based on fundamental measures of their behavior - or misbehavior - toward each group. To ensure that the results are not driven by heterogeneity in asset managers, the authors limit . . .
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