| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13599 |
| DP13599 Low-carbon mutual funds | |
| Marco Ceccarelli; Stefano Ramelli; Alexander F. Wagner | |
| 发表日期 | 2019-03-19 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We show that mutual funds compete for climate-conscious investment flows. In April 2018, Morningstar introduced a climate-focused label for mutual funds. The release of the "Low Carbon Designation" induced reactions on both the demand and supply sides of the market. First, investors flocked to funds receiving this eco-label. Second, active funds that missed the label at its initial release responded to the new incentive by shifting their holdings towards more climate-friendly firms. In sum, climate-related information can trigger competition by financial intermediaries along their climate performance. However, the resulting portfolio shifts may also expose investors to higher idiosyncratic risks. |
| 主题 | Financial Economics |
| 关键词 | Behavioral finance Climate change Eco-labels Investor preferences Mutual funds Sustainable finance |
| URL | https://cepr.org/publications/dp13599-1 |
| 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/542458 |
| 推荐引用方式 GB/T 7714 | Marco Ceccarelli,Stefano Ramelli,Alexander F. Wagner. DP13599 Low-carbon mutual funds. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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