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undergraduate thesis
ESG fondovi - predvodnici održivog ulaganja?
Završni rad
2022. urn:nbn:hr:145:853340
Vujanić, Matej
Josip Juraj Strossmayer University of Osijek
Faculty of Economics and Business in Osijek
Chair of Finance and Accounting

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Vujanić, M. (2022). ESG fondovi - predvodnici održivog ulaganja? : Završni rad (Undergraduate thesis). Osijek: Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek. Retrieved from https://urn.nsk.hr/urn:nbn:hr:145:853340

Vujanić, Matej. "ESG fondovi - predvodnici održivog ulaganja? : Završni rad." Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, 2022. https://urn.nsk.hr/urn:nbn:hr:145:853340

Vujanić, Matej. "ESG fondovi - predvodnici održivog ulaganja? : Završni rad." Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, 2022. https://urn.nsk.hr/urn:nbn:hr:145:853340

Vujanić, M. (2022). 'ESG fondovi - predvodnici održivog ulaganja? : Završni rad', Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, accessed 08 April 2025, https://urn.nsk.hr/urn:nbn:hr:145:853340

Vujanić M. ESG fondovi - predvodnici održivog ulaganja? : Završni rad [Undergraduate thesis]. Osijek: Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek; 2022 [cited 2025 April 08] Available at: https://urn.nsk.hr/urn:nbn:hr:145:853340

M. Vujanić, "ESG fondovi - predvodnici održivog ulaganja? : Završni rad", Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, Osijek, 2022. Available at: https://urn.nsk.hr/urn:nbn:hr:145:853340

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Metadata
TitleESG fondovi - predvodnici održivog ulaganja? : Završni rad
Title (english)ESG funds - leaders of sustainable investing? : Final paper
AuthorMatej Vujanić
MentorDomagoj Sajter (mentor)
GranterJosip Juraj Strossmayer University of Osijek
Faculty of Economics and Business in Osijek
(Chair of Finance and Accounting)
Osijek
Defense date and country2022-09-06, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Finance
Abstract
Okolišno, društveno i upravljačko ulaganje (eng. environmental, social, and corporate governance, ESG) relativno je nov pojam na tržištima kapitala, a intenzivnu pažnju dobiva tek nedavno, kada sve veći broj ljudi od svojih investicija ne očekuje samo profit već i da čine dobrobit čovječanstvu. Obzirom da je održivo ulaganje još područje u razvoju, različiti pojmovi unutar ovog područja često se koriste u istom kontekstu, što može dovesti do konfuzije pri razumijevanju istih. Cilj je rada... More razjasniti ključne pojmove te utvrditi jesu li ESG fondovi predvodnici održivog ulaganja s obzirom na ostale fondove unutar skupine održivog ulaganja. Podaci su prikupljeni s internet stranica kompanija koje se bave upravljanjem investicijama – BlackRock, Vanguard i Fidelity, te sa servisa Yahoo Finance i Financial Times. Za potrebe istraživanja kreiran je model klasifikacije održivih fondova na ESG fondove, društveno odgovorne fondove (eng. socially responsible investment, SRI) i fondove s širokim utjecajem (eng. impact, IMP) kako bi se isti mogli uspoređivati unutar nadređene skupine održivog ulaganja. U istraživanje je uključeno 70 održivih fondova, od čega je 36 ESG fondova, 14 SRI fondova i 20 fondova s utjecajem. Uzorak pokriva razdoblje od 2017. do 2021. godine. U promatranom razdoblju najveće prinose ostvarili su ESG fondovi s prosječnim godišnjim prinosom od 16,07%, a najmanje IMP s prosječnim godišnjim prinosom od 13,59%. Nadalje, najveću standardnu devijaciju imaju IMP fondovi (21,37%), a najmanju SRI (18,30%). ESG fondovi iskazuju najbolje rezultate, ali očit je problem manipulativnog zelenog marketinga (eng. greenwashing). Promatrajući Sharpeov omjer ESG fondovi se čine kao predvodnici održivog ulaganja, no upitni su smisao i cilj ulaganja ovih fondova, jer oni u konačnici dovode do odluke u koji tip fonda će osoba investirati. Less
Abstract (english)
Environmental, social, and corporate governance (ESG) investment is a relatively new term in the capital markets, and it has recently received intensive attention when an increasing number of people expect not only to profit from their investments, but also to make the welfare of mankind. Considering that sustainable investing is still a developing field, different terms within this field are often used in the same context, which can lead to confusion when understanding them. This paper... More aims to clarify the key concepts and determine whether ESG funds are the leaders of sustainable investing with regard to other sustainable investing funds. The data was collected from the websites of investment management companies - BlackRock, Vanguard and Fidelity, as well as from Yahoo Finance and Financial Times services. For research purposes, a classification model of sustainable funds into ESG funds, socially responsible funds (SRI), and impact funds (IMP) was created to compare them within the group. 70 sustainable funds were included in the research, 36 are ESG funds, 14 are SRI funds and 20 are impact funds. The sample covers the period from 2017 to 2021. In the observed period, the highest returns were achieved by ESG funds with an average annual return of 16.07%, and the least by IMPs with an average annual return of 13.59%. Furthermore, IMP funds have the highest standard deviation (21.37%), while SRI has the lowest (18.30%). ESG funds show the best results, but the greenwashing problem is obvious. Looking at the Sharpe ratio, ESG funds appear to be the leaders of sustainable investment, but the meaning and goal of these funds are questionable, as they ultimately lead to the decision in which type of fund to invest. Less
Keywords
Keywords (english)
Languagecroatian
URN:NBNurn:nbn:hr:145:853340
Study programmeTitle: Financial Management
Study programme type: university
Study level: undergraduate
Academic / professional title: sveučilišni/a prvostupnik/prvostupnica (baccalaureus/baccalaurea) ekonomije (sveučilišni/a prvostupnik/prvostupnica (baccalaureus/baccalaurea) ekonomije)
Type of resourceText
File originBorn digital
Access conditionsOpen access
Terms of useLicence In copyright icon
Created on2023-06-29 06:59:19
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