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研究生:邱姵瑜
研究生(外文):Pei-Yu Chiu
論文名稱:何者驅動共同基金從事ESG投資?經理人與基金特徵的檢驗
論文名稱(外文):What Drives Mutual Funds to Engage in ESG Investment? An Examination on Characteristics of Managers and Funds
指導教授:翁培師翁培師引用關係
指導教授(外文):Pei-Shih Weng
口試委員:蔡維哲池祥萱
口試委員(外文):Wei-Che TsaiHsiang-Hsuan Chih
口試日期:2020-06-23
學位類別:碩士
校院名稱:國立東華大學
系所名稱:財務金融學系
學門:商業及管理學門
學類:財務金融學類
論文種類:學術論文
論文出版年:2020
畢業學年度:108
語文別:中文
論文頁數:97
中文關鍵詞:共同基金ESG投資經理人特徵基金特徵
外文關鍵詞:Mutual FundsESG investmentCharacteristics of Managers and Funds
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本文研究目的為透過基金經理人特徵與基金特徵來檢驗何者驅動基金從事ESG投資,透過OLS模型進行複迴歸分析,研究結果顯示基金經理人及基金特徵變數確實與基金從事ESG投資有關聯。
研究結果顯示:第一,基金經理人性別、從業總年資、工作經歷數量、學歷國籍、學歷制度、就讀財金專業領域、基金成立時間、規模、長短期報酬率與基金從事ESG整體面(ESG)投資之間有顯著關係。第二,基金經理人性別、學歷國籍、學歷制度、基金長短期報酬率和基金從事環境面(E)投資之間亦有顯著關係。最後,基金經理人性別、從業總年資、工作經歷數量、學歷、學歷國籍、就讀財金專業領域、基金成立時間、淨值、規模、長短期報酬率與基金從事公司治理面(G)投資之間有顯著關係存在。
This paper examines which characteristic of managers and funds will drive mutual funds to engage in ESG investment via OLS multiple regression models. The empirical results show that characteristic of managers and funds are indeed related to the funds engaged in ESG investment.
The empirical results are as fallows. First, managers’ gender, total years of seniority, number of career experience, degree (domestic or oversea), degree (public school in Taiwan), financial professional field of study, fund establishment time, scale, long-term and short-term returns can affect funds engaged in the ESG investment. Second, managers’ gender, degree (domestic or oversea), degree (public school in Taiwan), long-term and short-term returns of funds can also affect funds engaged in the environmental investment. Finally, the gender, total years of seniority, number of career experience, degree, degree (domestic or oversea), financial professional field of study, fund establishment time, net asset value, scale, long-term and short-term returns are also significant for funds engaged in corporate governance investment.
第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究架構與本文架構 4
第二章 文獻回顧與探討 5
第一節 經理人特徵相關文獻 5
第二節 基金特徵相關文獻 6
第三章 研究資料與方法 9
第一節 資料來源 9
第二節 變數定義與衡量 10
第三節 研究方法 14
第四章 實證分析 17
第一節 敘述統計量 17
第二節 相關係數統計 18
第三節 迴歸結果與分析 18
第五章 結論 27
參考文獻 29
圖表 31
附錄 75
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