Gibson and Krüger (2017)

Gibson, Rajna Brandon, and Philipp Krüger.  “The Sustainability Footprint of Institutional Investors.”  Working paper (Swiss Finance Institute Research Paper 17-05), May 2017.

From the abstract:  "We show that portfolios of institutions with longer investment horizons exhibit higher sustainability and that risk-adjusted performance is positively related to sustainability, primarily through a reduction of portfolio risk. Using exogenous shocks to investor sustainability induced by natural disasters we provide evidence of a causal impact of sustainability on risk-adjusted performance."


Link (January 2018 draft):