Abstract

This paper conducts a study on ESG funds between 2012 and 2022 to analyze the impact of ESG fund performance indicators on their institutional ownership ratios. The findings show that the performance of ESG funds is positively correlated with the proportion of institutional holdings. External institutional investors tend to be more inclined to hold funds with excellent historical performance, while fund management companies are more inclined to hold funds with poorer historical performance. In addition, fund management companies are more inclined to hold funds with high ESG scores.

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