Portfolio management of ESG-labeled energy companies based on PTV and ESG factors
研究了基于前景理论价值（PTV）和ESG评分构建的能源公司月度四分位投资组合，发现投资ESG标签能源股可跑赢全球能源指数，PTV策略在12年样本期内表现突出。
This paper evaluates monthly quartile portfolios of ESG-labeled companies constructed based on their Prospect Theory Value (PTV) and ESG scores in the closely monitored energy sector. Investing in ESG-labeled energy stocks can outperform a value-weighted global energy sector index, according to several out-of-sample performance analyses. The PTV strategy stands out over a sample period of more than twelve years. This strategy performs similarly to a fully diversified world market index and consistently outperforms a world energy index. Over the last five years, the simple strategy based on ESG scores performs similarly to the PTV strategy.