Sustainable Investment and Corporate Governance Working Papers, Sustainable Investment Research Platform
No 2010/1:
On Incentives for Sustainable Investments
Georgios Foufas ()
, Mattias Sundén ()
and Evert Carlsson ()
Abstract: There is a trend among institutional investors to split
their assets between index-managers and specialists. The specialist
mandates are typically delegated to specialist asset managers, who are
assumed to generate "alpha", take on large risks and whose remuneration is
performance based. In this paper, we will study how the optimal behavior of
the specialist manager will depend on the remuneration structure.
Keywords: Incentives; portfolio choice; sustainable investments; value function; (follow links to similar papers)
28 pages, January 19, 2010
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