RIEBセミナー
RIEBセミナー
（TJAR Workshop主催）
RIEBセミナー
TJAR Workshop主催
| 日時 | 2024年02月14日(水) 14:00 - 15:30 |
|---|---|
| 会場 | 神戸大学経済経営研究所 会議室（研究所新館2階） |
| 対象 | 教員，院生，および同等の知識をお持ちの方 |
| 使用言語 | 英語 |
| 参加登録 | ※事前登録制です。下記より参加登録をお願い致します。 参加登録 (締切：2/12) |
14:00 - 15:30
- 論題
- Analyzing ESG Follow Through of Pension Funds: Evidence from Korea National Pension Service
- 報告者
- Hee-Yeon SUNWOO（Department of Business Administration, Sejong University）
- 概要
- Assessing asset allocators' ESG efforts is difficult because the related data is proprietary. We obtain a unique dataset of portfolio holdings and voting records from one of the largest pension funds in the world, Korean National Pension Services (NPS), and analyze whether and how it incorporates ESG into the decision making process. We find that firms with higher NPS ownership exhibits a greater improvement in ESG scores and that this improvement is more salient when NPS votes against the management during shareholders' meeting. Further, firms in NPS' portfolio that improved their ESG scores exhibit superior future stock returns. Overall, the results suggest that NPS is able to achieve ESG, as well as return, improvements from its holdings.