| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13175 |
| DP13175 Investing for Long-Term Value Creation | |
| Dirk Schoenmaker; Willem Schramade | |
| 发表日期 | 2018-09-13 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | In the transition to a sustainable economy, companies are increasingly adopting the goal of long-term value creation, which integrates financial, social and environmental value. However, investors struggle to invest for long-term value and perform the social function of finance. Traditional investment approaches, based on the neo-classical paradigm of efficient markets and portfolio theory, only capture financial value in their financial risk and return space. Attempts at ESG integration are typically too shallow to overcome this problem. In this paper, we examine the set of issues that make this problem so stubborn and we outline the contours of an alternative paradigm that is better able to pursue long-term value creation. Its elements include short investment chains, active management that assesses companies’ transition preparedness, concentrated portfolios, and deep engagement. |
| 主题 | Financial Economics |
| 关键词 | Active investment Fundamental analysis Engagement Esg factors Adaptive markets hypothesis |
| URL | https://cepr.org/publications/dp13175 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541979 |
| 推荐引用方式 GB/T 7714 | Dirk Schoenmaker,Willem Schramade. DP13175 Investing for Long-Term Value Creation. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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