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題名 社會責任投資之可能性：歐盟投資人觀點之社會責任投資與傳統投資績效之比較（2014-2018）
Sustainable investment: a comparison of sustainable and systemic banks’ performance from an investor perspective in European Union (2014-2018)作者 譚艾莉
Tharaud, Alice貢獻者 林月雲
Lin, Carol
譚艾莉
Alice Tharaud關鍵詞 可持續投資
金融
歐盟
表現
現金及現金等價物
儲蓄
Sustainable investment
Banking
European Union
Performance
Cash and cash equivalents
Savings日期 2019 上傳時間 7-八月-2019 16:22:17 (UTC+8) 摘要 Increased concern regarding environmental, social and governance (ESG) issues have created a new type of investment opportunities that promotes a more sustainable economy. This thesis aims to study the performance of the cash and cash equivalents asset class from an investor perspective, by comparing the sustainable and systemic banking industry. Many studies were conducted about other asset classes such as mutual funds, stocks, and bonds, in Europe and the United States. However, this thesis enriches the current literature by also analyzing an under-researched asset class, concentrating on European Union and adding a new aspect to the definition of performance: interest rates.\nThrough literature review, quantitative analysis and interviews this research put in comparison sustainable and systemic banks’ performance from an investor perspective.\nHowever, this study is subjective on the writer’s point of view as much as on the data availability and the interviewees’ declaration. Last but not least, the analysis and recommendations provided are only consistent for the period (2014 to 2018) and is highly dependent on the sample and the choice of variables. 參考文獻 Buiter, W. R., 2012. CEPR. [Online] Available at: https://conference.nber.org/conferences/2012/SI2012/GFCs12/Buiter-Rahbari-The%20ECB%20as%20Lender%20of%20Last%20REsort.PDF\n\nCortez, L., 2014. "Style and performance of international socially responsible funds in Europe". Research in International Business and Finance.\n\nDomini, 2019. [Online] Available at: https://www.domini.com\n\nEichengreen, D., 2011. "Who should supervise? The structure of bank supervision and the performance of the financial system". National Bureau of Economic Research.\n\nEncyclopaedia Britannica, 2019. Encyclopaedia Britannica. [Online] Available at: https://www.britannica.com/event/Exxon-Valdez-oil-spill\n\nEurosif, 2016. "European SRI Study 2016"\n\nEurosif, 2018. "SDGs for SRI investors"\n\nFEBEA, 2017. "Reporting on Ethical and Alternative Banks - Main results"\nFEBEA, 2019. FEBEA. [Online] Available at: https://www.febea.org\n\nFondazione Finanza Etica, 2017. "Ethical and Sustainable Finance in Europe"\n\nGABV, 2017. Real Economy – Real Returns: The Business Case for Values-based Banking\n\nGABV, 2018. Annual report\n\nGiraud, 2019. Tsunami financier, désastre humanitaire? [Interview] 2019.\n\nGlobal Alliance for Banking with Values (GABV), 2019. GABV. [Online] Available at: http://www.gabv.org/about-us\n\nGoodhart, C., 2011. "The changing role of central banks". Financial history review.\n\nGounon, 2017. Courrier International. [Online] Available at: ttps://www.courrierinternational.com/article/rwanda-la-bnp-paribas-complice-de-genocide\n\nGrossman, H., 2005. Refining the role of the corporation: The impact of corporate social responsibility on shareholder primacy theory. Deakin L. Rev..\n\nIbunkele, S., 2017. "European Green Mutual Fund Performance: A Comparative Analysis with their Conventional and Black Peers". Journal of Business Ethics.\n\nIFRS Interpretations Committee, 2019. "Tentative Agenda Decision and comment letters - Holdings of Cryptocurrencies". [Online] Available at: https://www.ifrs.org/projects/work-plan/holdings-of-cryptocurrencies/comment-letters-projects/tad-holdings-of-cryptocurrencies/\n\nInvestopedia, 2019. Investopedia. [Online] Available at: https://www.investopedia.com\n\nLins, S. T., 2017. "Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis". Journal of Finance.\n\nMerkur Cooperative Bank, 2019. Merkur Cooperative Bank. [Online] Available at: https://www.merkur.dk/privat/opsparing/stoettekonti/\n\nNestlé, 2019. Nestlé. [Online] Available at: https://www.nestle.com/CSV\nPolivka, P., 2013. "Performance of the Socially Responsible Investment during the global crisis", University of West Bohemia, Faculty of Economics.\n\nSchroders, 2016. "What investors think about responsible investing"\n\nSmith, 2015. The Daily Dot. [Online] Available at: https://www.dailydot.com/via/nestle-california-bottled-water/\n\nState Street, 2018. "The future of sustainable investing in Europe and beyond"\n\nStrandberg Consulting, 2005. "Best practices in sustainable finance"\n\nThomson Reuters, 2019. Thomson Reuters ESG Score\n\nUnited Nations Environment, 2017. "On the role of central banks in enhancing green finance",\n\nWood, 2007. "Handbook on Responsible Investment Across Asset Classes", Boston College . 描述 碩士
國立政治大學
國際經營管理英語碩士學位學程(IMBA)
1079330601資料來源 http://thesis.lib.nccu.edu.tw/record/#G1079330601 資料類型 thesis dc.contributor.advisor 林月雲 zh_TW dc.contributor.advisor Lin, Carol en_US dc.contributor.author (作者) 譚艾莉 zh_TW dc.contributor.author (作者) Alice Tharaud en_US dc.creator (作者) 譚艾莉 zh_TW dc.creator (作者) Tharaud, Alice en_US dc.date (日期) 2019 en_US dc.date.accessioned 7-八月-2019 16:22:17 (UTC+8) - dc.date.available 7-八月-2019 16:22:17 (UTC+8) - dc.date.issued (上傳時間) 7-八月-2019 16:22:17 (UTC+8) - dc.identifier (其他 識別碼) G1079330601 en_US dc.identifier.uri (URI) https://ah.lib.nccu.edu.tw/item?item_id=143271 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 國際經營管理英語碩士學位學程(IMBA) zh_TW dc.description (描述) 1079330601 zh_TW dc.description.abstract (摘要) Increased concern regarding environmental, social and governance (ESG) issues have created a new type of investment opportunities that promotes a more sustainable economy. This thesis aims to study the performance of the cash and cash equivalents asset class from an investor perspective, by comparing the sustainable and systemic banking industry. Many studies were conducted about other asset classes such as mutual funds, stocks, and bonds, in Europe and the United States. However, this thesis enriches the current literature by also analyzing an under-researched asset class, concentrating on European Union and adding a new aspect to the definition of performance: interest rates.\nThrough literature review, quantitative analysis and interviews this research put in comparison sustainable and systemic banks’ performance from an investor perspective.\nHowever, this study is subjective on the writer’s point of view as much as on the data availability and the interviewees’ declaration. Last but not least, the analysis and recommendations provided are only consistent for the period (2014 to 2018) and is highly dependent on the sample and the choice of variables. en_US dc.description.tableofcontents 1. Introduction 1\n2. Literature review 5\n2.1. Sustainable investment globally 5\n2.1.1. History 5\n2.1.2. Investment strategies and firms’ best practices 8\n2.2. Sustainable investment in Europe 13\n2.2.1. Regulations and key figures 13\n2.2.2. Market study and asset allocation 17\n2.3. Sustainable investments’ performance: the banking industry 21\n3. Research Methodology 27\n3.1. Assumptions 27\n3.2. Sample description 28\n3.3. Data collection 29\n3.4. Calculations 31\n4. Results and analysis 35\n4.1. Banks’ structural performance 36\n4.2. Banks’ accounts interest rates as a proxy of performance 46\n4.3. Banks, present and future: An interview of Mrs. Andrea Palmer (Triodos) 50\n5. Discussion and limits 53\n6. Conclusion 58\n7. Bibliography 60\n8. Appendices 63 zh_TW dc.format.extent 2269722 bytes - dc.format.mimetype application/pdf - dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G1079330601 en_US dc.subject (關鍵詞) 可持續投資 zh_TW dc.subject (關鍵詞) 金融 zh_TW dc.subject (關鍵詞) 歐盟 zh_TW dc.subject (關鍵詞) 表現 zh_TW dc.subject (關鍵詞) 現金及現金等價物 zh_TW dc.subject (關鍵詞) 儲蓄 zh_TW dc.subject (關鍵詞) Sustainable investment en_US dc.subject (關鍵詞) Banking en_US dc.subject (關鍵詞) European Union en_US dc.subject (關鍵詞) Performance en_US dc.subject (關鍵詞) Cash and cash equivalents en_US dc.subject (關鍵詞) Savings en_US dc.title (題名) 社會責任投資之可能性：歐盟投資人觀點之社會責任投資與傳統投資績效之比較（2014-2018） zh_TW dc.title (題名) Sustainable investment: a comparison of sustainable and systemic banks’ performance from an investor perspective in European Union (2014-2018) en_US dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) Buiter, W. R., 2012. CEPR. [Online] Available at: https://conference.nber.org/conferences/2012/SI2012/GFCs12/Buiter-Rahbari-The%20ECB%20as%20Lender%20of%20Last%20REsort.PDF\n\nCortez, L., 2014. "Style and performance of international socially responsible funds in Europe". Research in International Business and Finance.\n\nDomini, 2019. [Online] Available at: https://www.domini.com\n\nEichengreen, D., 2011. "Who should supervise? The structure of bank supervision and the performance of the financial system". National Bureau of Economic Research.\n\nEncyclopaedia Britannica, 2019. Encyclopaedia Britannica. [Online] Available at: https://www.britannica.com/event/Exxon-Valdez-oil-spill\n\nEurosif, 2016. "European SRI Study 2016"\n\nEurosif, 2018. "SDGs for SRI investors"\n\nFEBEA, 2017. "Reporting on Ethical and Alternative Banks - Main results"\nFEBEA, 2019. FEBEA. [Online] Available at: https://www.febea.org\n\nFondazione Finanza Etica, 2017. "Ethical and Sustainable Finance in Europe"\n\nGABV, 2017. Real Economy – Real Returns: The Business Case for Values-based Banking\n\nGABV, 2018. Annual report\n\nGiraud, 2019. Tsunami financier, désastre humanitaire? [Interview] 2019.\n\nGlobal Alliance for Banking with Values (GABV), 2019. GABV. [Online] Available at: http://www.gabv.org/about-us\n\nGoodhart, C., 2011. "The changing role of central banks". Financial history review.\n\nGounon, 2017. Courrier International. [Online] Available at: ttps://www.courrierinternational.com/article/rwanda-la-bnp-paribas-complice-de-genocide\n\nGrossman, H., 2005. Refining the role of the corporation: The impact of corporate social responsibility on shareholder primacy theory. Deakin L. Rev..\n\nIbunkele, S., 2017. "European Green Mutual Fund Performance: A Comparative Analysis with their Conventional and Black Peers". Journal of Business Ethics.\n\nIFRS Interpretations Committee, 2019. "Tentative Agenda Decision and comment letters - Holdings of Cryptocurrencies". [Online] Available at: https://www.ifrs.org/projects/work-plan/holdings-of-cryptocurrencies/comment-letters-projects/tad-holdings-of-cryptocurrencies/\n\nInvestopedia, 2019. Investopedia. [Online] Available at: https://www.investopedia.com\n\nLins, S. T., 2017. "Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis". Journal of Finance.\n\nMerkur Cooperative Bank, 2019. Merkur Cooperative Bank. [Online] Available at: https://www.merkur.dk/privat/opsparing/stoettekonti/\n\nNestlé, 2019. Nestlé. [Online] Available at: https://www.nestle.com/CSV\nPolivka, P., 2013. "Performance of the Socially Responsible Investment during the global crisis", University of West Bohemia, Faculty of Economics.\n\nSchroders, 2016. "What investors think about responsible investing"\n\nSmith, 2015. The Daily Dot. [Online] Available at: https://www.dailydot.com/via/nestle-california-bottled-water/\n\nState Street, 2018. "The future of sustainable investing in Europe and beyond"\n\nStrandberg Consulting, 2005. "Best practices in sustainable finance"\n\nThomson Reuters, 2019. Thomson Reuters ESG Score\n\nUnited Nations Environment, 2017. "On the role of central banks in enhancing green finance",\n\nWood, 2007. "Handbook on Responsible Investment Across Asset Classes", Boston College . zh_TW dc.identifier.doi (DOI) 10.6814/NCCU201900285 en_US
