The rise of sustainable, responsible and impact investing: ETFs and ESG
by Jesus Carmona; Natalya Delcoure; Francisco Haces Fernandez
International Journal of Portfolio Analysis and Management (IJPAM), Vol. 2, No. 4, 2024

Abstract: Socially responsible investing (SRI) has gained momentum in recent years. This research study investigated the impact of diverse events on SRI exchange-traded funds (ETFs). The applied event study methodology identified significant abnormal returns around the event dates. Some events had an impact across all the financial instruments, while others were specific to particular sectors. The results indicated that financial markets evaluate sustainable investing and renewable energy as resilient options in the face of uncertainty, such as the financial impacts of COVID-19. These results are further validated by sentiment analysis, indicating that social media evaluate SRI as less risky than traditional mutual funds in times of uncertainty.

Online publication date: Fri, 05-Apr-2024

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