Sustainable Investing and Financial Services

Special Issue Editor


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Guest Editor
Department of Economics and Finance, City University of Hong Kong, Hong Kong, China
Interests: capital markets; risk management; financial institution management; sustainable finance
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Sustainable business models aim to conduct business through responsible practices that create value economically, environmentally and socially, both in the  present and in the future. These business models and practices are advocated by governments, financial regulators, stock exchanges, institutional investors, corporate executives,  private wealth investors, etc.,  driving transformations in the financial services sector. This Special Issue invites research papers relating to sustainable investing and financial services. Papers in the following areas are welcome in particular:

  • Benchmarking and rating for sustainable investment instruments;
  • Corporate governance and investor relation for sustainability;
  • ESG integration in portfolio construction and management;
  • ESG issues in financial reporting and listing requirements;
  • Ethical considerations in sustainable investment decisions;
  • Fiduciary duty and liability issues for sustainable investing;
  • Green bonds and green loans for sustainable enterprises;
  • Impact investing approaches and instruments;
  • Impact of ESG factors on corporate financial performance;
  • Integration of new technologies for sustainable business models;
  • Mitigating greenwashing risks in ESG financial products;
  • Sustainable family office management;
  • Sustainable and responsible investment indices and benchmarks;
  • Sustainable financial product innovation and design;
  • Financial regulation on sustainability;
  • Fund management and sustainability;
  • Retail banking and sustainability.

We look forward to receiving your contributions.

Dr. Michael C. S. Wong
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. International Journal of Financial Studies is an international peer-reviewed open access quarterly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • sustainable business

  • business management
  • sustainable Investing
  • ESG issues
  • financial institution management
  • asset management
  • financial advisory
  • wealth management
  • financial services
  • green bonds
  • ESG fund management
  • greenwashing
  • compliance risk
  • operational risk

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Published Papers (5 papers)

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Research

23 pages, 315 KiB  
Article
Corporate Social Responsibility, Carbon Information Disclosure, and Enterprise Value: A Study of Listed Companies in China’s Highly Polluting Industries
by Feng Shi and Yuan Wang
Int. J. Financial Stud. 2024, 12(3), 66; https://doi.org/10.3390/ijfs12030066 - 3 Jul 2024
Viewed by 1197
Abstract
In 2022, China actively carried out economic transformation and sought high-quality development. To date, enhancing enterprise value is still one of the top priorities for enterprises. Enterprises should take various measures to continuously enhance their value in order to strive for their survival [...] Read more.
In 2022, China actively carried out economic transformation and sought high-quality development. To date, enhancing enterprise value is still one of the top priorities for enterprises. Enterprises should take various measures to continuously enhance their value in order to strive for their survival and development. The fulfillment of social responsibilities not only brings benefits to all stakeholders, but also establishes a good corporate image in front of the public and can increase enterprise value. At the same time, in the context of “carbon peaking and carbon neutrality”, carbon information disclosure has an important impact on enterprises and their stakeholders. Taking the data of listed companies within China’s Shanghai and Shenzhen A-share highly polluting industries from 2018 to 2022 as samples, this paper studies the relationship between the level of social responsibility fulfillment, carbon information disclosure, and enterprise value, and makes an empirical analysis. This research finds that social responsibility has a significant positive impact on enterprise value; carbon information disclosure has a significant positive impact on enterprise value; and carbon information disclosure plays a significant positive regulating role in the relationship between social responsibility and enterprise value. Finally, according to the research results, this paper puts forward relevant suggestions from two perspectives: enterprise and government. Full article
(This article belongs to the Special Issue Sustainable Investing and Financial Services)
15 pages, 1745 KiB  
Article
Assessing the Circular Economy Funds: Performance, Fees, Risks, and Sustainability
by Fei Fang and Sitikantha Parida
Int. J. Financial Stud. 2024, 12(2), 40; https://doi.org/10.3390/ijfs12020040 - 26 Apr 2024
Cited by 1 | Viewed by 1897
Abstract
We studied various fund investing options in the circular economy sector. We found that most circular economy mutual funds and exchange-traded funds charge higher fees and take higher risks than their benchmarks. However, they appear to have underperformed their benchmarks during their short [...] Read more.
We studied various fund investing options in the circular economy sector. We found that most circular economy mutual funds and exchange-traded funds charge higher fees and take higher risks than their benchmarks. However, they appear to have underperformed their benchmarks during their short existence so far. Most of these funds are rated as sustainable and low-carbon funds. Investors keen on circular economy startups may consider private equity/venture capital funds, but most of these funds are exclusive to institutional and accredited investors. Full article
(This article belongs to the Special Issue Sustainable Investing and Financial Services)
21 pages, 7180 KiB  
Article
Investigating ESG Funds in China: Management Fees and Investment Performance
by Michael C. S. Wong and Wei Li
Int. J. Financial Stud. 2024, 12(2), 38; https://doi.org/10.3390/ijfs12020038 - 25 Apr 2024
Viewed by 1796
Abstract
This study investigates the association among management fees, ESG scores, and investment performance of ESG funds in China. It explores the significance of comprehending the cost–benefit analysis and long-term yields associated with sustainable investing. The investigation specifically concentrates on China’s open-end equity funds [...] Read more.
This study investigates the association among management fees, ESG scores, and investment performance of ESG funds in China. It explores the significance of comprehending the cost–benefit analysis and long-term yields associated with sustainable investing. The investigation specifically concentrates on China’s open-end equity funds and uncovers some noteworthy discoveries. Initially, funds with higher management fees tend to yield greater returns, suggesting a potential validation for these fees. Nevertheless, when taking risk-adjusted metrics into account, these funds do not exhibit superior performance, indicating that the elevated fees may not necessarily result in enhanced performance after factoring in risk. Furthermore, the analysis discloses an adverse influence of ESG factors on fund performance. In general, the findings indicate that ESG funds in China do not impose higher management fees and do not ensure better returns but often produce superior risk-adjusted investment performance if their ESG scores are moderately higher. Exceptionally high ESG scores can end up with the worst risk-adjusted investment performance. Full article
(This article belongs to the Special Issue Sustainable Investing and Financial Services)
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13 pages, 432 KiB  
Article
The Impact of Financial Development on Renewable Energy Consumption: The Case of Vietnam and Other ASEAN Members
by Chien Van Nguyen
Int. J. Financial Stud. 2024, 12(2), 37; https://doi.org/10.3390/ijfs12020037 - 25 Apr 2024
Viewed by 1909
Abstract
The purpose of this study was to evaluate the impact of financial development and renewable energy consumption in Vietnam and some selected countries in Southeast Asia. After researching over the period from 1970 to 2022, using quantitative analyses, including the ordinary least squares [...] Read more.
The purpose of this study was to evaluate the impact of financial development and renewable energy consumption in Vietnam and some selected countries in Southeast Asia. After researching over the period from 1970 to 2022, using quantitative analyses, including the ordinary least squares (OLS), fixed effects method (FEM), and random effects method (REM), and measuring the Driscoll–Kraay standard errors to assess cross-dependence between countries as well as a Dynamic Ordinary Least Squares (DOLS) estimation analysis to evaluate the robustness of the research, the research results confirm that financial development has a negative impact on renewable energy consumption, which reflects the important role of fossil energy sources in meeting energy consumption demand. Similarly, increased per capita income negatively affects renewable energy consumption. This study also confirms the positive impact of foreign direct investment on renewable energy use. Full article
(This article belongs to the Special Issue Sustainable Investing and Financial Services)
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18 pages, 438 KiB  
Article
Synergizing Sustainability and Financial Prosperity: Unraveling the Structure of Business Profit Growth through Consumer-Centric Strategies—The Cases of Kosovo and Albania
by Enkeleda Lulaj, Blerta Dragusha, Eglantina Hysa and Marian Catalin Voica
Int. J. Financial Stud. 2024, 12(2), 35; https://doi.org/10.3390/ijfs12020035 - 7 Apr 2024
Cited by 3 | Viewed by 1708
Abstract
This research investigates the synergistic relationship between sustainability and financial prosperity in businesses, specifically focusing on the impact of consumers on profit growth in Kosovo and Albania. The study aims to understand consumers’ perceptions of their purchases, the factors influencing their choice of [...] Read more.
This research investigates the synergistic relationship between sustainability and financial prosperity in businesses, specifically focusing on the impact of consumers on profit growth in Kosovo and Albania. The study aims to understand consumers’ perceptions of their purchases, the factors influencing their choice of businesses, and the types of businesses that effectively support consumers in these countries. Data were collected through a survey completed by 200 consumers and 200 businesses. The analysis, utilizing multivariate analysis of variance, descriptive analysis, and reliability analysis with SPSS, reveals that consumers significantly influence the sustainability of business profit growth. Moving forward, it is recommended that businesses prioritize offering reasonable prices, quality products/services, easy access to products/services, clear information about products/services, and convenient locations. The research has profound implications for businesses, consumers, and countries and suggests the need for further exploration of the impact of consumers on profit growth in diverse contexts. Full article
(This article belongs to the Special Issue Sustainable Investing and Financial Services)
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