TY - JOUR
T1 - Do renewable energy mutual funds advance towards clean energy-related sustainable development goals?
AU - Marti Ballester, Carmen Pilar
N1 - Premios: Elsevier. Article linked to the United Nations Sustainable Development Goals, helping to tackle some of the world's greatest challenges
PY - 2022/8
Y1 - 2022/8
N2 - This study examines the effects of sustainable energy-focused institutional shareholders on corporate sustainable energy performance. It employs a sample of 43 renewable energy mutual funds and 1074 portfolio firms covering 2006 to 2019. To examine this relationship appropriately, the study adopts Petersen's (2009) panel data approach and clusters standard errors by firm and year. The results indicate that institutional investors lead firms to improve their corporate sustainable energy and environmental performance. Therefore, investment decisions adopted by renewable energy mutual funds achieve positive outcomes in the real world. This has policy implications, showing that economic policies focused on financing the transition of the real economy towards sustainability and improving the financial sector's contribution to sustainability goals are being achieved.
AB - This study examines the effects of sustainable energy-focused institutional shareholders on corporate sustainable energy performance. It employs a sample of 43 renewable energy mutual funds and 1074 portfolio firms covering 2006 to 2019. To examine this relationship appropriately, the study adopts Petersen's (2009) panel data approach and clusters standard errors by firm and year. The results indicate that institutional investors lead firms to improve their corporate sustainable energy and environmental performance. Therefore, investment decisions adopted by renewable energy mutual funds achieve positive outcomes in the real world. This has policy implications, showing that economic policies focused on financing the transition of the real economy towards sustainability and improving the financial sector's contribution to sustainability goals are being achieved.
KW - Corporate environmental performance
KW - Corporate sustainable energy performance
KW - Renewable energy mutual funds
KW - Sustainable development goals
KW - SHAREHOLDERS
KW - CORPORATE SOCIAL-RESPONSIBILITY
KW - INSTITUTIONAL INVESTORS
KW - PERFORMANCE
KW - OWNERSHIP
UR - http://www.scopus.com/inward/record.url?scp=85133165832&partnerID=8YFLogxK
UR - https://www.mendeley.com/catalogue/50311e65-12bd-30fd-92a9-3ab71d43ff35/
U2 - https://doi.org/10.1016/j.renene.2022.06.111
DO - https://doi.org/10.1016/j.renene.2022.06.111
M3 - Article
SN - 0960-1481
VL - 195
SP - 1155
EP - 1164
JO - Renewable Energy
JF - Renewable Energy
ER -
