Socially responsible investing through the equity funds in the global ownership network.

We analyze the connectivity of equity investments to the firms in the global ownership network that are reported as non-compliant with Environment, Social, and Government (ESG) benchmarks. We find that a large number of shareholders have ownership linkages to non-ESG firms, most commonly with three...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Takayuki Mizuno, Shohei Doi, Takahiro Tsuchiya, Shuhei Kurizaki
Formato:	article
Lenguaje:	EN
Publicado:	Public Library of Science (PLoS) 2021
Materias:	Medicine R Science Q
Acceso en línea:	https://doaj.org/article/33fce60f31014e479eef019c2814f64c
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:33fce60f31014e479eef019c2814f64c
record_format	dspace
spelling	oai:doaj.org-article:33fce60f31014e479eef019c2814f64c2021-12-02T20:18:13ZSocially responsible investing through the equity funds in the global ownership network.1932-620310.1371/journal.pone.0256160https://doaj.org/article/33fce60f31014e479eef019c2814f64c2021-01-01T00:00:00Zhttps://doi.org/10.1371/journal.pone.0256160https://doaj.org/toc/1932-6203We analyze the connectivity of equity investments to the firms in the global ownership network that are reported as non-compliant with Environment, Social, and Government (ESG) benchmarks. We find that a large number of shareholders have ownership linkages to non-ESG firms, most commonly with three or four degrees of separation. Analyzing the betweenness centrality for shareholders connecting the ultimate owners and non-ESG firms, we find that the investment management companies play important roles in channeling the investment money into non-ESG firms, where largest American asset managers commonly have one to two degrees of separation on their ownership linkages to those problematic firms. Since asset managers collect capital from investors by running the equity funds, we analyze the ownership stakes and the associated voting rights attributable to the equity funds investors. We estimate the distribution of the power of corporate control over non-ESG firms among specific asset managers (such as BlackRock and Fidelity) and among different types of the equity funds (such as mutual funds and exchanged-traded funds), and explores how investing in the equity funds rather than ownership investing may have shifted the distribution of the power to control those non-ESG firms.Takayuki MizunoShohei DoiTakahiro TsuchiyaShuhei KurizakiPublic Library of Science (PLoS)articleMedicineRScienceQENPLoS ONE, Vol 16, Iss 8, p e0256160 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Takayuki Mizuno Shohei Doi Takahiro Tsuchiya Shuhei Kurizaki Socially responsible investing through the equity funds in the global ownership network.
description	We analyze the connectivity of equity investments to the firms in the global ownership network that are reported as non-compliant with Environment, Social, and Government (ESG) benchmarks. We find that a large number of shareholders have ownership linkages to non-ESG firms, most commonly with three or four degrees of separation. Analyzing the betweenness centrality for shareholders connecting the ultimate owners and non-ESG firms, we find that the investment management companies play important roles in channeling the investment money into non-ESG firms, where largest American asset managers commonly have one to two degrees of separation on their ownership linkages to those problematic firms. Since asset managers collect capital from investors by running the equity funds, we analyze the ownership stakes and the associated voting rights attributable to the equity funds investors. We estimate the distribution of the power of corporate control over non-ESG firms among specific asset managers (such as BlackRock and Fidelity) and among different types of the equity funds (such as mutual funds and exchanged-traded funds), and explores how investing in the equity funds rather than ownership investing may have shifted the distribution of the power to control those non-ESG firms.
format	article
author	Takayuki Mizuno Shohei Doi Takahiro Tsuchiya Shuhei Kurizaki
author_facet	Takayuki Mizuno Shohei Doi Takahiro Tsuchiya Shuhei Kurizaki
author_sort	Takayuki Mizuno
title	Socially responsible investing through the equity funds in the global ownership network.
title_short	Socially responsible investing through the equity funds in the global ownership network.
title_full	Socially responsible investing through the equity funds in the global ownership network.
title_fullStr	Socially responsible investing through the equity funds in the global ownership network.
title_full_unstemmed	Socially responsible investing through the equity funds in the global ownership network.
title_sort	socially responsible investing through the equity funds in the global ownership network.
publisher	Public Library of Science (PLoS)
publishDate	2021
url	https://doaj.org/article/33fce60f31014e479eef019c2814f64c
work_keys_str_mv	AT takayukimizuno sociallyresponsibleinvestingthroughtheequityfundsintheglobalownershipnetwork AT shoheidoi sociallyresponsibleinvestingthroughtheequityfundsintheglobalownershipnetwork AT takahirotsuchiya sociallyresponsibleinvestingthroughtheequityfundsintheglobalownershipnetwork AT shuheikurizaki sociallyresponsibleinvestingthroughtheequityfundsintheglobalownershipnetwork
_version_	1718374277731844096

Socially responsible investing through the equity funds in the global ownership network.

Ejemplares similares