ESG ratings and financial performance of exchange-traded funds during the COVID-19 pandemic
By Zachary Folger-Laronde, Sep Pashang, Leah Feor, Amr ElAlfy. Journal of Sustainable Finance & Investment, 2020
203 citations recorded by the source corpus.
ABSTRACT With the advent of the COVID-19 pandemic, the world has experienced economic and social fragility, which calls for alternative approaches to navigate towards sustainable outcomes. While recent studies show that responsible investments (RI) are resilient during the economic downturn caused by crises such as COVID-19, there has been little exploration into exchange-traded funds (ETFs). Using ANOVA and multivariate regression models, we analyze the differences and relationship between the financial returns of ETFs and their Eco-fund ratings during the COVID-19 pandemic-related financial market crash. Our results indicate that higher levels of the sustainability performance of ETFs do not safeguard investments from financial losses during a severe market downturn. These results contribute to the research by exposing weaknesses of current sustainability scores and rating methods to provide an initial analysis of RI during the COVID-19 pandemic
Subfields: Economics and Econometrics, Finance, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/a072b943f3c0176612019112b7c1cf01ff1a7778
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Citations in the corpus
- Does responsible investing pay during economic downturns: Evidence from the COVID-19 pandemic (2020, background): “8 The papers include Goldreyer and Diltz (1999); Cummings (2000); Bauer et al.”