Accounting for Past Return to ESG Stocks
November 5, 2021 - Aesthetic Investments, Fundamental Valuation
Does past performance of Environmental, Social, and Corporate Governance (ESG) stocks derive mostly from shift in demand from other stocks to ESG stocks? In his September 2021 paper entitled “Flow-Driven ESG Returns”, Philippe van der Beck examines whether flow of investor dollars toward ESG mutual funds explains aggregate performance of ESG stocks, as follows: Construct… Keep Reading