相关论文: Navigating Uncertainty in ESG Investing

Environmental, social, and governance (ESG) reports are globally recognized as a keystone in sustainable enterprise development. However, current literature has not concluded the development of topics and trends in ESG contexts in the…

Individuals invest in Environmental-Social-Governance (ESG)-assets not only because of (higher) expected returns but also driven by ethical and social considerations. Less is known about ESG-conscious investor subjective beliefs about…

Environmental, Social and Governance (ESG) rating is a way for investors to prioritise investments in companies with good corporate behaviour. However, ESG ratings are vulnerable to greenwashing in a number of ways. In this paper we study…

Artificial Intelligence (AI) is a widely developed and adopted technology across entire industry sectors. Integrating environmental, social, and governance (ESG) considerations with AI investments is crucial for ensuring ethical and…

I identify a new signaling channel in ESG research by empirically examining whether environmental, social, and governance (ESG) investing remains valuable as large institutional investors increasingly shift toward artificial intelligence…

Environmental, Social, and Governance (ESG) data provides non-financial insights into corporations. In this study, we aim to identify relevant ESG raw variables to assess financial risk, measured by logarithmic volatility of return. We…

This paper investigates the impact of environmental, social, and governance (ESG) constraint on a regularized mean-variance (MV) portfolio optimization problem in a large-dimensional setting, in which a positive definite regularization…

Environmental, Social, and Governance (ESG) finance is a cornerstone of modern finance and investment, as it changes the classical return-risk view of investment by incorporating an additional dimension of investment performance: the ESG…

Our main contribution is that we are using AI to discern the key drivers of variation of ESG mentions in the corporate filings. With AI, we are able to separate "dimensions" along which the corporate management presents their ESG policies…

This chapter explores the convergence of two major developments: the rise of environmental, social, and governance (ESG) investing and the exponential growth of artificial intelligence (AI) technology. The increased demand for diverse ESG…

This research investigates the classification of Environmental, Social, and Governance (ESG) information within textual disclosures. The aim is to develop and evaluate binary classification models capable of accurately identifying and…

We examine whether large language models (LLMs) hold systematic beliefs about environmental, social, and governance (ESG) issues and how these beliefs compare with-and potentially influence-those of human market participants. Based on…

We present ESGBench, a benchmark dataset and evaluation framework designed to assess explainable ESG question answering systems using corporate sustainability reports. The benchmark consists of domain-grounded questions across multiple ESG…

With the ever-growing urgency of sustainability in the economy and society, and the massive stream of information that comes with it, consumers need reliable access to that information. To address this need, companies began publishing so…

This paper explores key theoretical frameworks instrumental in understanding the relationship between sustainability and institutional investment decisions. The study identifies and analyzes various theories, including Behavioral Finance…

ESG-aware portfolio optimization is increasingly important for sustainable capital allocation, yet most learning-based methods still operationalize ESG by appending static scores to the policy observation or reward. This creates a mismatch…

In this article, we present a novel approach for the construction of an environment-friendly green portfolio using the ESG ratings, and application of the modern portfolio theory to present what we call as the ``green efficient frontier''…

We investigate the portfolio frontier and risk premia in equilibrium when institutional investors aim to minimize the tracking error variance under an ESG score mandate. If a negative ESG premium is priced in the market, this mandate can…

The integration of Environmental, Social, and Governance (ESG) factors into corporate decision-making is a fundamental aspect of sustainable finance. However, ensuring that business practices align with evolving regulatory frameworks…

Given a universe of N assets, investors often form equally weighted portfolios (EWPs) by selecting subsets of assets. EWPs are simple, robust, and competitive out-of-sample, yet the uncertainty about which subset truly performs best is…