BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//AMSE//Event Calendar//FR
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:event-13097@www.amse-aixmarseille.fr
DTSTAMP:20260430T002404Z
CREATED:20260430T002404Z
LAST-MODIFIED:20260430T002404Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:phd seminar - Ali Hassan*\, Léo Loubradou**
DTSTART:20260407T090000Z
DTEND:20260407T103000Z
DESCRIPTION:*In this paper\, we examine the determinants of investor money 
 flows in sustainable mutual funds. Owing to differences in preferences\, we
  posit that ESG investors are more sensitive to mutual fund financial attri
 butes than impact investors are. Using a dataset of 840 actively managed Eu
 ropean sustainable equity funds for the period 2018–2025\, we find that f
 und flows are significantly more sensitive to past performance for ESG fund
 s than for impact funds. Our empirical results are in line with impact inve
 stor specificity among sustainable investors: the first invest for ESG valu
 es\, whereas the latter invest with ESG values. Our findings are robust to 
 alternative sustainable classifications\, geographical investment areas\, i
 nvestor types and time sampling.**We study the effect of sustainability sig
 nals on mutual fund flows. We examine whether the proliferation of signals 
 enhances their credibility or whether only specific signals effectively inf
 luence investor behavior. We find that only a subset of signals—SFDR Arti
 cle 9 classification\, sustainability labels\, and impact fund names—sign
 ificantly alters the flow–performance relationship. Funds displaying thes
 e signals exhibit weaker sensitivity of flows to negative performance and r
 educed performance-chasing\, consistent with the presence of sustainability
 -oriented investors. We further show that combining credible signals streng
 thens these effects\, suggesting a higher willingness to pay for sustainabi
 lity. Our results identify which signals are perceived as credible and high
 light that the proliferation of signals can generate heterogeneous — and 
 sometimes counterproductive — effects on investor.\\n\\nContact: Xavier C
 hatron-Colliet : xavier.chatron-colliet[at]univ-amu.frArmand Rigotti : arma
 nd.rigotti[at]univ-amu.fr\n\nPlus d'informations: https://www.amse-aixmarse
 ille.fr/fr/evenements/ali-hassan-leo-loubradou-0
LOCATION:MEGA - Salle Carine Nourry\, 424\, Chemin du Viaduc\, 13080 Aix-en
 -Provence
URL;VALUE=URI:https://www.amse-aixmarseille.fr/fr/evenements/ali-hassan-leo-loubradou-0
CONTACT:Xavier Chatron-Colliet : xavier.chatron-colliet[at]univ-amu.frArman
 d Rigotti : armand.rigotti[at]univ-amu.fr
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR