RT Journal Article
T1 Low carbon transition risk in mutual fund portfolios: managerial involvement and performance effects
A1 Reboredo Nogueira, Juan Carlos
A1 Otero González, Luis
K1 Carbon transition risk
K1 Manager ownership
K1 Mutual fund flows
K1 Mutual fund performance
K1 Mutual funds
K1 Socially responsible investment
AB Transitioning to a low-carbon economy to mitigate the effects of climate changeinvolves risks. We investigate the effects of managerial ownership andmanagement on the low carbon transition risk of mutual fund portfolios and theeffects of low carbon transition risk on mutual fund performance and flows.Using low carbon transition risk ratings based on the unmanaged carbon risk ofthe companies included in fund portfolios, we find that managerial ownership andthe socially responsible focus of the fund reduce fund portfolio exposure tocarbon risk, whereas active management has the opposite effect. Furthermore,we find that funds with low carbon transition risk produce a better risk-adjustedperformance are more sensitive to tail risks and exhibit a better fund flowperformance
PB Wiley
YR 2021
FD 2021
LK http://hdl.handle.net/10347/29056
UL http://hdl.handle.net/10347/29056
LA eng
NO Business Strategy and the Environment, 31(3), 950–968. https://doi.org/10.1002/bse.2928
NO We gratefully acknowledge financial support from the Spanish Agencia Estatal de Investigacion (Ministerio de Ciencia, Innovacion y Universidades) under research project with reference RTI2018-100702-B-I00, co-funded by the European Regional Development Fund (ERDF/FEDER). Juan C. Reboredo acknowledges financial support provided by the Xunta de Galicia through research project CONSOLIDACION 2019 GRC GI-2060 Análise Económica dos Mercados e Institucións – AEMI (ED431C 2019/11). Luis Otero González acknowledges financial support provided by the Xunta de Galicia through research project ED431C 2020/18, co-funded by the European Regional Development Fund (ERDF/FEDER) for the period 2020–2023
DS Minerva
RD 24 abr 2026