European Pension Funds and Sustainable Development: Trade‐Offs between Finance and Responsibility
基于对15个欧洲国家250多家养老基金的调查，使用多项逻辑回归分析养老基金如何在可持续发展与财务目标之间权衡，发现未纳入责任投资的基金更优先财务绩效，而整合可持续发展的基金能平衡金融与责任。
Abstract Pension funds try to account for sustainable development in their operations. This mainly translates in responsible investing. We investigate how this interacts with the financial objectives. We use a survey of more than 250 pension funds based in 15 European countries. Multinomial logistic regression is used to find out how pension funds trade off sustainable development and financial objectives. Our findings suggest that pension funds that have not included responsibility in their strategy and investments have a clear priority regarding their financial performance. Pension funds who integrate sustainable development in their strategy can bring balance between finance and responsibility. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment