G2TT
来源类型Discussion paper
规范类型论文
来源IDDP13175
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
URLhttps://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.
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