Analyzing Active Fund Managers’ Commitment to ESG: Evidence from the United Nations Principles for Responsible Investment

The authors thank Hans Christensen, Robert Eccles, Caroline Flammer, Paul Griffin (discussant), Ravi Jagannathan, Robert Korajczyk, Sangwook Nam, Andreas Neuhierl, Feng Tian (discussant), Beverly Walther, and a number of anonymous asset managers as well as seminar participants at the 2020 Korean Accounting Association Summer International Conference, the 2020 Conference on Asia-Pacific Financial Markets, the 2021 China Academy of Financial Research Conference, Chinese University of Hong Kong, Georgetown University, Illinois Young Scholars Research Symposium, Korea Securities Association Conference, Northwestern University, Stanford University, the 2021 Frontiers in Development Policy Conference, and University of Victoria for very helpful discussions. The authors also thank Sustainalytics and TruValue Labs for generously providing the ESG data. All errors are their sole responsibility. This paper received the Deloitte Research Award from the Korean Accounting Association.