ESG controversies and investor trading behavior in the Korean market

被引：29
作者：
Bang, Jeongseok [1 ]
Ryu, Doojin [1 ]
Yu, Jinyoung [2 ]
机构：
[1] Sungkyunkwan Univ, Dept Econ, Seoul, South Korea
[2] Sungkyunkwan Univ, Econ Res Inst, Seoul, South Korea
来源：
FINANCE RESEARCH LETTERS | 2023年 / 54卷
关键词：
ESG; Institutional investor; Investor trading behavior; Natural language processing;
D O I：
10.1016/j.frl.2023.103750
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study examines how investor trading behavior changes following environmental, social, and governance (ESG) controversies by analyzing textual news data. We use deep-learning-based natural language processing to classify news articles into specific categories of controversy. ESG controversies generally increase investors' trading activities regardless of their type, while their reactions differ by ESG pillar. Interestingly, domestic institutions tend to sell stocks with controversies.
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页数：6
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