It takes the average reader 1 hour and 49 minutes to read Behavioral Biases in ESG Investing by Stefan Briehl
Assuming a reading speed of 250 words per minute. Learn more
Master's Thesis from the year 2022 in the subject Business economics - Investment and Finance, grade: 1.3, University of Marburg, language: English, abstract: The goal of this master's thesis is to investigate whether the ambiguous relationship between the sustainability of an ESG mutual fund and its performance is due to the fact that ESG mutual funds are subject to behavioral biases. The structure of this master's thesis is divided into three parts. First, it will be investigated if global ESG equity mutual funds domiciled in Europe are subject to the home bias, that is that a too large fraction of the equity investments is invested in domestic stocks. Furthermore, it will be investigated whether ESG mutual funds are subject to a Europe bias (whether a disproportionately large fraction of the equity investments is allocated to stocks from Europe) and finally whether ESG mutual funds are subject to the industry bias (their holdings are heavily allocated to individual industry sectors). Secondly, the financial performance of ESG mutual funds in the period from August 2017 to August 2021 was examined using the Capital Asset Pricing model (CAPM) and the Carhart four-factor model like in the most important works on ESG mutual fund performance. Furthermore, it will be investigated whether the ESG mutual funds perform worse than their unsustainable counterparts (i.e. conventional investment funds via a matched-pair sample). Thirdly, it will be investigated whether behavioral biases have an impact on the performance of ESG mutual funds and lead to possible under-diversification.
Behavioral Biases in ESG Investing by Stefan Briehl is 107 pages long, and a total of 27,499 words.
This makes it 36% the length of the average book. It also has 34% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes 2 hours and 30 minutes to read Behavioral Biases in ESG Investing aloud.
Behavioral Biases in ESG Investing is suitable for students ages 10 and up.
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