Ali Hassan
Doctorant
,
Aix-Marseille Université
, Faculté d'économie et de gestion (FEG)
- Statut
- Doctorant
- Domaine(s) de recherche
- Économie comportementale et expérimentale, Économie du développement, Finance
- Doctorat
-
Investors’ sentiments and Impact InvestingDepuis 2024, sous la direction de Jean-Baptiste Hasse, Christelle Lecourt
- Téléchargement
- CV
- Contact
- ali.hassan[at]univ-amu.fr
- Adresse
Maison de l'économie et de la gestion d'Aix
424 chemin du viaduc, CS80429
13097 Aix-en-Provence Cedex 2
Ali Hassan, Jean-Baptiste Hasse, Christelle Lecourt
Résumé
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 attributes than impact investors are. Using a dataset of 840 actively managed European sustainable equity funds for the period 2018–2025, we find that fund flows are significantly more sensitive to past performance for ESG funds than for impact funds. Our empirical results are in line with impact investor specificity among sustainable investors: the first invest for ESG values, whereas the latter invest with ESG values. Our findings are robust to alternative sustainable classifications, geographical investment areas, investor types and time sampling.
Mots clés
Impact investing, Mutual funds, Investor behavior, Cash flows