Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows

Examining a shock to the salience of the sustainability of the U.S. mutual fund market, we present causal evidence that investors marketwide value sustainability: being categorized as low sustainability resulted in net outflows of more than $12 billion while being categorized as high sustainability...

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Vydané v:	The Journal of finance (New York) Ročník 74; číslo 6; s. 2789 - 2837
Hlavní autori:	HARTZMARK, SAMUEL M., SUSSMAN, ABIGAIL B.
Médium:	Journal Article
Jazyk:	English
Vydavateľské údaje:	Cambridge Wiley Periodicals, Inc 01.12.2019 Blackwell Publishers Inc
Predmet:	Investors Mutual funds Positive emotions Ratings & rankings Salience Sustainability
ISSN:	0022-1082, 1540-6261
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