Bonds with benefits : impact investing in corporate debt

Gespeichert in:

Autor*in:	Vladimirova, Desislava [verfasserIn] Fang-Klingler, Jieyan [verfasserIn]

Format:	E-Artikel
Sprache:	Englisch

Erschienen:	2024

Schlagwörter:	corporate bonds credit factor investing sustainability sustainability investing systematic factors

Übergeordnetes Werk:	Enthalten in: Financial analysts journal - [Abingdon] : Routledge, Taylor and Francis Group, 1960, 80(2024), 1, Seite 41-56
Übergeordnetes Werk:	volume:80 ; year:2024 ; number:1 ; pages:41-56

Links:	Link aufrufen Link aufrufen

DOI / URN:	10.1080/0015198X.2023.2280035

Katalog-ID:	1895066387

Internformat


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allfields	10.1080/0015198X.2023.2280035 doi (DE-627)1895066387 (DE-599)KXP1895066387 DE-627 ger DE-627 rda eng Vladimirova, Desislava verfasserin aut Bonds with benefits impact investing in corporate debt Desislava Vladimirova and Jieyan Fang-Klingler 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier corporate bonds (dpeaa)DE-206 credit factor investing (dpeaa)DE-206 sustainability (dpeaa)DE-206 sustainability investing (dpeaa)DE-206 systematic factors (dpeaa)DE-206 Fang-Klingler, Jieyan verfasserin aut Enthalten in Financial analysts journal [Abingdon] : Routledge, Taylor and Francis Group, 1960 80(2024), 1, Seite 41-56 Online-Ressource (DE-627)340878940 (DE-600)2066328-6 (DE-576)098134493 1938-3312 nnns volume:80 year:2024 number:1 pages:41-56 https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035 Verlag kostenfrei https://doi.org/10.1080/0015198X.2023.2280035 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_39 GBV_ILN_60 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_100 GBV_ILN_110 GBV_ILN_120 GBV_ILN_151 GBV_ILN_224 GBV_ILN_285 GBV_ILN_370 GBV_ILN_374 GBV_ILN_647 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2018 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2548 GBV_ILN_2937 GBV_ILN_2941 GBV_ILN_2949 GBV_ILN_2950 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4346 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 80 2024 1 41-56 26 01 0206 4549072784 x1z 10-07-24 2403 01 DE-LFER 4565268027 00 --%%-- --%%-- n --%%-- l01 11-08-24 2403 01 DE-LFER https://doi.org/10.1080/0015198X.2023.2280035 2403 01 DE-LFER https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035 26 00 DE-206 The regulatory focus on quantifiable sustainable investing shifts investors’ demand toward impact products, which creates challenges in achieving their primary target of outperformance. This study demonstrates the implications of sustainable investment in actively managed credit portfolios using carbon emissions, Sustainable Development Goals (SDGs), and green bonds. All three measures exhibit a low correlation with systematic factors, such as value and momentum, providing an opportunity for a sustainable alpha. Furthermore, we demonstrate a concave relationship between outperformance and sustainability. Therefore, systematic investors achieve a sustainable portfolio at a low cost, whereas sustainability-oriented investors harness factor returns and meet their initial targets.
spelling	10.1080/0015198X.2023.2280035 doi (DE-627)1895066387 (DE-599)KXP1895066387 DE-627 ger DE-627 rda eng Vladimirova, Desislava verfasserin aut Bonds with benefits impact investing in corporate debt Desislava Vladimirova and Jieyan Fang-Klingler 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier corporate bonds (dpeaa)DE-206 credit factor investing (dpeaa)DE-206 sustainability (dpeaa)DE-206 sustainability investing (dpeaa)DE-206 systematic factors (dpeaa)DE-206 Fang-Klingler, Jieyan verfasserin aut Enthalten in Financial analysts journal [Abingdon] : Routledge, Taylor and Francis Group, 1960 80(2024), 1, Seite 41-56 Online-Ressource (DE-627)340878940 (DE-600)2066328-6 (DE-576)098134493 1938-3312 nnns volume:80 year:2024 number:1 pages:41-56 https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035 Verlag kostenfrei https://doi.org/10.1080/0015198X.2023.2280035 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_39 GBV_ILN_60 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_100 GBV_ILN_110 GBV_ILN_120 GBV_ILN_151 GBV_ILN_224 GBV_ILN_285 GBV_ILN_370 GBV_ILN_374 GBV_ILN_647 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2018 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2548 GBV_ILN_2937 GBV_ILN_2941 GBV_ILN_2949 GBV_ILN_2950 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4346 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 80 2024 1 41-56 26 01 0206 4549072784 x1z 10-07-24 2403 01 DE-LFER 4565268027 00 --%%-- --%%-- n --%%-- l01 11-08-24 2403 01 DE-LFER https://doi.org/10.1080/0015198X.2023.2280035 2403 01 DE-LFER https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035 26 00 DE-206 The regulatory focus on quantifiable sustainable investing shifts investors’ demand toward impact products, which creates challenges in achieving their primary target of outperformance. This study demonstrates the implications of sustainable investment in actively managed credit portfolios using carbon emissions, Sustainable Development Goals (SDGs), and green bonds. All three measures exhibit a low correlation with systematic factors, such as value and momentum, providing an opportunity for a sustainable alpha. Furthermore, we demonstrate a concave relationship between outperformance and sustainability. Therefore, systematic investors achieve a sustainable portfolio at a low cost, whereas sustainability-oriented investors harness factor returns and meet their initial targets.
allfields_unstemmed	10.1080/0015198X.2023.2280035 doi (DE-627)1895066387 (DE-599)KXP1895066387 DE-627 ger DE-627 rda eng Vladimirova, Desislava verfasserin aut Bonds with benefits impact investing in corporate debt Desislava Vladimirova and Jieyan Fang-Klingler 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier corporate bonds (dpeaa)DE-206 credit factor investing (dpeaa)DE-206 sustainability (dpeaa)DE-206 sustainability investing (dpeaa)DE-206 systematic factors (dpeaa)DE-206 Fang-Klingler, Jieyan verfasserin aut Enthalten in Financial analysts journal [Abingdon] : Routledge, Taylor and Francis Group, 1960 80(2024), 1, Seite 41-56 Online-Ressource (DE-627)340878940 (DE-600)2066328-6 (DE-576)098134493 1938-3312 nnns volume:80 year:2024 number:1 pages:41-56 https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035 Verlag kostenfrei https://doi.org/10.1080/0015198X.2023.2280035 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_39 GBV_ILN_60 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_100 GBV_ILN_110 GBV_ILN_120 GBV_ILN_151 GBV_ILN_224 GBV_ILN_285 GBV_ILN_370 GBV_ILN_374 GBV_ILN_647 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2018 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2548 GBV_ILN_2937 GBV_ILN_2941 GBV_ILN_2949 GBV_ILN_2950 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4346 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 80 2024 1 41-56 26 01 0206 4549072784 x1z 10-07-24 2403 01 DE-LFER 4565268027 00 --%%-- --%%-- n --%%-- l01 11-08-24 2403 01 DE-LFER https://doi.org/10.1080/0015198X.2023.2280035 2403 01 DE-LFER https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035 26 00 DE-206 The regulatory focus on quantifiable sustainable investing shifts investors’ demand toward impact products, which creates challenges in achieving their primary target of outperformance. This study demonstrates the implications of sustainable investment in actively managed credit portfolios using carbon emissions, Sustainable Development Goals (SDGs), and green bonds. All three measures exhibit a low correlation with systematic factors, such as value and momentum, providing an opportunity for a sustainable alpha. Furthermore, we demonstrate a concave relationship between outperformance and sustainability. Therefore, systematic investors achieve a sustainable portfolio at a low cost, whereas sustainability-oriented investors harness factor returns and meet their initial targets.
allfieldsGer	10.1080/0015198X.2023.2280035 doi (DE-627)1895066387 (DE-599)KXP1895066387 DE-627 ger DE-627 rda eng Vladimirova, Desislava verfasserin aut Bonds with benefits impact investing in corporate debt Desislava Vladimirova and Jieyan Fang-Klingler 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier corporate bonds (dpeaa)DE-206 credit factor investing (dpeaa)DE-206 sustainability (dpeaa)DE-206 sustainability investing (dpeaa)DE-206 systematic factors (dpeaa)DE-206 Fang-Klingler, Jieyan verfasserin aut Enthalten in Financial analysts journal [Abingdon] : Routledge, Taylor and Francis Group, 1960 80(2024), 1, Seite 41-56 Online-Ressource (DE-627)340878940 (DE-600)2066328-6 (DE-576)098134493 1938-3312 nnns volume:80 year:2024 number:1 pages:41-56 https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035 Verlag kostenfrei https://doi.org/10.1080/0015198X.2023.2280035 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_39 GBV_ILN_60 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_100 GBV_ILN_110 GBV_ILN_120 GBV_ILN_151 GBV_ILN_224 GBV_ILN_285 GBV_ILN_370 GBV_ILN_374 GBV_ILN_647 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2018 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2548 GBV_ILN_2937 GBV_ILN_2941 GBV_ILN_2949 GBV_ILN_2950 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4346 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 80 2024 1 41-56 26 01 0206 4549072784 x1z 10-07-24 2403 01 DE-LFER 4565268027 00 --%%-- --%%-- n --%%-- l01 11-08-24 2403 01 DE-LFER https://doi.org/10.1080/0015198X.2023.2280035 2403 01 DE-LFER https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035 26 00 DE-206 The regulatory focus on quantifiable sustainable investing shifts investors’ demand toward impact products, which creates challenges in achieving their primary target of outperformance. This study demonstrates the implications of sustainable investment in actively managed credit portfolios using carbon emissions, Sustainable Development Goals (SDGs), and green bonds. All three measures exhibit a low correlation with systematic factors, such as value and momentum, providing an opportunity for a sustainable alpha. Furthermore, we demonstrate a concave relationship between outperformance and sustainability. Therefore, systematic investors achieve a sustainable portfolio at a low cost, whereas sustainability-oriented investors harness factor returns and meet their initial targets.
allfieldsSound	10.1080/0015198X.2023.2280035 doi (DE-627)1895066387 (DE-599)KXP1895066387 DE-627 ger DE-627 rda eng Vladimirova, Desislava verfasserin aut Bonds with benefits impact investing in corporate debt Desislava Vladimirova and Jieyan Fang-Klingler 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier corporate bonds (dpeaa)DE-206 credit factor investing (dpeaa)DE-206 sustainability (dpeaa)DE-206 sustainability investing (dpeaa)DE-206 systematic factors (dpeaa)DE-206 Fang-Klingler, Jieyan verfasserin aut Enthalten in Financial analysts journal [Abingdon] : Routledge, Taylor and Francis Group, 1960 80(2024), 1, Seite 41-56 Online-Ressource (DE-627)340878940 (DE-600)2066328-6 (DE-576)098134493 1938-3312 nnns volume:80 year:2024 number:1 pages:41-56 https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035 Verlag kostenfrei https://doi.org/10.1080/0015198X.2023.2280035 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_39 GBV_ILN_60 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_100 GBV_ILN_110 GBV_ILN_120 GBV_ILN_151 GBV_ILN_224 GBV_ILN_285 GBV_ILN_370 GBV_ILN_374 GBV_ILN_647 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2018 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2065 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2548 GBV_ILN_2937 GBV_ILN_2941 GBV_ILN_2949 GBV_ILN_2950 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4346 GBV_ILN_4393 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 80 2024 1 41-56 26 01 0206 4549072784 x1z 10-07-24 2403 01 DE-LFER 4565268027 00 --%%-- --%%-- n --%%-- l01 11-08-24 2403 01 DE-LFER https://doi.org/10.1080/0015198X.2023.2280035 2403 01 DE-LFER https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035 26 00 DE-206 The regulatory focus on quantifiable sustainable investing shifts investors’ demand toward impact products, which creates challenges in achieving their primary target of outperformance. This study demonstrates the implications of sustainable investment in actively managed credit portfolios using carbon emissions, Sustainable Development Goals (SDGs), and green bonds. All three measures exhibit a low correlation with systematic factors, such as value and momentum, providing an opportunity for a sustainable alpha. Furthermore, we demonstrate a concave relationship between outperformance and sustainability. Therefore, systematic investors achieve a sustainable portfolio at a low cost, whereas sustainability-oriented investors harness factor returns and meet their initial targets.
language	English
source	Enthalten in Financial analysts journal 80(2024), 1, Seite 41-56 volume:80 year:2024 number:1 pages:41-56
sourceStr	Enthalten in Financial analysts journal 80(2024), 1, Seite 41-56 volume:80 year:2024 number:1 pages:41-56
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container_title	Financial analysts journal
authorswithroles_txt_mv	Vladimirova, Desislava @@aut@@ Fang-Klingler, Jieyan @@aut@@
publishDateDaySort_date	2024-01-01T00:00:00Z
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author	Vladimirova, Desislava
spellingShingle	Vladimirova, Desislava misc corporate bonds misc credit factor investing misc sustainability misc sustainability investing misc systematic factors Bonds with benefits impact investing in corporate debt
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topic_title	26 00 DE-206 The regulatory focus on quantifiable sustainable investing shifts investors’ demand toward impact products, which creates challenges in achieving their primary target of outperformance. This study demonstrates the implications of sustainable investment in actively managed credit portfolios using carbon emissions, Sustainable Development Goals (SDGs), and green bonds. All three measures exhibit a low correlation with systematic factors, such as value and momentum, providing an opportunity for a sustainable alpha. Furthermore, we demonstrate a concave relationship between outperformance and sustainability. Therefore, systematic investors achieve a sustainable portfolio at a low cost, whereas sustainability-oriented investors harness factor returns and meet their initial targets Bonds with benefits impact investing in corporate debt Desislava Vladimirova and Jieyan Fang-Klingler corporate bonds (dpeaa)DE-206 credit factor investing (dpeaa)DE-206 sustainability (dpeaa)DE-206 sustainability investing (dpeaa)DE-206 systematic factors (dpeaa)DE-206
topic	misc corporate bonds misc credit factor investing misc sustainability misc sustainability investing misc systematic factors
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title_full	Bonds with benefits impact investing in corporate debt Desislava Vladimirova and Jieyan Fang-Klingler
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code="b">4565268027</subfield><subfield code="c">00</subfield><subfield code="f">--%%--</subfield><subfield code="d">--%%--</subfield><subfield code="e">n</subfield><subfield code="j">--%%--</subfield><subfield code="y">l01</subfield><subfield code="z">11-08-24</subfield></datafield><datafield tag="981" ind1=" " ind2=" "><subfield code="2">2403</subfield><subfield code="1">01</subfield><subfield code="x">DE-LFER</subfield><subfield code="r">https://doi.org/10.1080/0015198X.2023.2280035</subfield></datafield><datafield tag="981" ind1=" " ind2=" "><subfield code="2">2403</subfield><subfield code="1">01</subfield><subfield code="x">DE-LFER</subfield><subfield code="r">https://www.tandfonline.com/doi/pdf/10.1080/0015198X.2023.2280035</subfield></datafield><datafield tag="982" ind1=" " ind2=" "><subfield code="2">26</subfield><subfield code="1">00</subfield><subfield code="x">DE-206</subfield><subfield code="b">The regulatory focus on quantifiable sustainable investing shifts investors’ demand toward impact products, which creates challenges in achieving their primary target of outperformance. This study demonstrates the implications of sustainable investment in actively managed credit portfolios using carbon emissions, Sustainable Development Goals (SDGs), and green bonds. All three measures exhibit a low correlation with systematic factors, such as value and momentum, providing an opportunity for a sustainable alpha. Furthermore, we demonstrate a concave relationship between outperformance and sustainability. Therefore, systematic investors achieve a sustainable portfolio at a low cost, whereas sustainability-oriented investors harness factor returns and meet their initial targets.</subfield></datafield></record></collection>
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