id	sid	tid	token	lemma	pos
abrj-305	1	1	33	33	NUM
abrj-305	1	2	©	©	PROPN
abrj-305	1	3	2025	2025	NUM
abrj-305	1	4	by	by	ADP
abrj-305	1	5	the	the	DET
abrj-305	1	6	authors	author	NOUN
abrj-305	1	7	;	;	PUNCT
abrj-305	1	8	licensee	licensee	NOUN
abrj-305	1	9	eastern	eastern	ADJ
abrj-305	1	10	centre	centre	NOUN
abrj-305	1	11	of	of	ADP
abrj-305	1	12	science	science	NOUN
abrj-305	1	13	and	and	CCONJ
abrj-305	1	14	education	education	NOUN
abrj-305	1	15	,	,	PUNCT
abrj-305	1	16	usa	usa	PROPN
abrj-305	1	17	asian	asian	PROPN
abrj-305	1	18	business	business	PROPN
abrj-305	1	19	research	research	PROPN
abrj-305	1	20	journal	journal	PROPN
abrj-305	1	21	vol	vol	NOUN
abrj-305	1	22	.	.	PROPN
abrj-305	2	1	10	10	NUM
abrj-305	2	2	,	,	PUNCT
abrj-305	2	3	no	no	INTJ
abrj-305	2	4	.	.	NOUN
abrj-305	2	5	3	3	NUM
abrj-305	2	6	,	,	PUNCT
abrj-305	2	7	33	33	NUM
abrj-305	2	8	-	-	SYM
abrj-305	2	9	44	44	NUM
abrj-305	2	10	,	,	PUNCT
abrj-305	2	11	2025	2025	NUM
abrj-305	2	12	issn	issn	NOUN
abrj-305	2	13	:	:	PUNCT
abrj-305	2	14	2576	2576	NUM
abrj-305	2	15	-	-	SYM
abrj-305	2	16	6759	6759	NUM
abrj-305	2	17	doi	doi	NOUN
abrj-305	2	18	:	:	PUNCT
abrj-305	2	19	10.55220/25766759.305	10.55220/25766759.305	NUM
abrj-305	2	20	©	©	PROPN
abrj-305	2	21	2025	2025	NUM
abrj-305	2	22	by	by	ADP
abrj-305	2	23	the	the	DET
abrj-305	2	24	authors	author	NOUN
abrj-305	2	25	;	;	PUNCT
abrj-305	2	26	licensee	licensee	NOUN
abrj-305	2	27	eastern	eastern	ADJ
abrj-305	2	28	centre	centre	NOUN
abrj-305	2	29	of	of	ADP
abrj-305	2	30	science	science	NOUN
abrj-305	2	31	and	and	CCONJ
abrj-305	2	32	education	education	NOUN
abrj-305	2	33	,	,	PUNCT
abrj-305	2	34	usa	usa	PROPN
abrj-305	2	35	the	the	DET
abrj-305	2	36	impact	impact	NOUN
abrj-305	2	37	of	of	ADP
abrj-305	2	38	fund	fund	NOUN
abrj-305	2	39	characteristics	characteristic	NOUN
abrj-305	2	40	on	on	ADP
abrj-305	2	41	environmental	environmental	ADJ
abrj-305	2	42	,	,	PUNCT
abrj-305	2	43	social	social	ADJ
abrj-305	2	44	,	,	PUNCT
abrj-305	2	45	and	and	CCONJ
abrj-305	2	46	governance	governance	NOUN
abrj-305	2	47	(	(	PUNCT
abrj-305	2	48	esg	esg	NOUN
abrj-305	2	49	)	)	PUNCT
abrj-305	2	50	risks	risk	NOUN
abrj-305	2	51	:	:	PUNCT
abrj-305	2	52	an	an	DET
abrj-305	2	53	empirical	empirical	ADJ
abrj-305	2	54	analysis	analysis	NOUN
abrj-305	2	55	juan	juan	PROPN
abrj-305	2	56	infante1	infante1	PROPN
abrj-305	2	57			PROPN
abrj-305	2	58	tomás	tomás	NOUN
abrj-305	2	59	curto2	curto2	PROPN
abrj-305	2	60	carlos	carlos	PROPN
abrj-305	2	61	arenas3	arenas3	PROPN
abrj-305	2	62	1juan	1juan	NUM
abrj-305	2	63	infante	infante	NOUN
abrj-305	2	64	,	,	PUNCT
abrj-305	2	65	universidad	universidad	PROPN
abrj-305	2	66	villanueva	villanueva	PROPN
abrj-305	2	67	,	,	PUNCT
abrj-305	2	68	madrid	madrid	PROPN
abrj-305	2	69	,	,	PUNCT
abrj-305	2	70	spain	spain	PROPN
abrj-305	2	71	.	.	PUNCT
abrj-305	3	1	email	email	NOUN
abrj-305	3	2	:	:	PUNCT
abrj-305	3	3	juan.infante@villanueva.edu	juan.infante@villanueva.edu	X
abrj-305	3	4	2tomás	2tomás	NUM
abrj-305	3	5	curto	curto	NOUN
abrj-305	3	6	,	,	PUNCT
abrj-305	3	7	universidad	universidad	PROPN
abrj-305	3	8	villanueva	villanueva	PROPN
abrj-305	3	9	,	,	PUNCT
abrj-305	3	10	madrid	madrid	PROPN
abrj-305	3	11	,	,	PUNCT
abrj-305	3	12	spain	spain	PROPN
abrj-305	3	13	.	.	PUNCT
abrj-305	4	1	email	email	NOUN
abrj-305	4	2	:	:	PUNCT
abrj-305	4	3	tomas.curto@villanueva.edu	tomas.curto@villanueva.edu	X
abrj-305	4	4	3carlos	3carlos	NUM
abrj-305	4	5	arenas	arena	NOUN
abrj-305	4	6	,	,	PUNCT
abrj-305	4	7	universidad	universidad	PROPN
abrj-305	4	8	villanueva	villanueva	PROPN
abrj-305	4	9	,	,	PUNCT
abrj-305	4	10	madrid	madrid	PROPN
abrj-305	4	11	,	,	PUNCT
abrj-305	4	12	spain	spain	PROPN
abrj-305	4	13	.	.	PUNCT
abrj-305	5	1	email	email	NOUN
abrj-305	5	2	:	:	PUNCT
abrj-305	5	3	carlos.arenas.laorga@gmail.com	carlos.arenas.laorga@gmail.com	X
abrj-305	5	4	(	(	PUNCT
abrj-305	5	5			PROPN
abrj-305	5	6	corresponding	correspond	VERB
abrj-305	5	7	author	author	NOUN
abrj-305	5	8	)	)	PUNCT
abrj-305	6	1	abstract	abstract	ADP
abrj-305	6	2	this	this	DET
abrj-305	6	3	study	study	NOUN
abrj-305	6	4	examines	examine	VERB
abrj-305	6	5	the	the	DET
abrj-305	6	6	impact	impact	NOUN
abrj-305	6	7	of	of	ADP
abrj-305	6	8	fund	fund	NOUN
abrj-305	6	9	characteristics	characteristic	NOUN
abrj-305	6	10	on	on	ADP
abrj-305	6	11	environmental	environmental	ADJ
abrj-305	6	12	,	,	PUNCT
abrj-305	6	13	social	social	ADJ
abrj-305	6	14	,	,	PUNCT
abrj-305	6	15	and	and	CCONJ
abrj-305	6	16	governance	governance	NOUN
abrj-305	6	17	(	(	PUNCT
abrj-305	6	18	esg	esg	NOUN
abrj-305	6	19	)	)	PUNCT
abrj-305	6	20	risks	risk	NOUN
abrj-305	6	21	in	in	ADP
abrj-305	6	22	investment	investment	NOUN
abrj-305	6	23	funds	fund	NOUN
abrj-305	6	24	.	.	PUNCT
abrj-305	7	1	the	the	DET
abrj-305	7	2	research	research	NOUN
abrj-305	7	3	focuses	focus	VERB
abrj-305	7	4	on	on	ADP
abrj-305	7	5	three	three	NUM
abrj-305	7	6	key	key	ADJ
abrj-305	7	7	factors	factor	NOUN
abrj-305	7	8	:	:	PUNCT
abrj-305	7	9	fund	fund	NOUN
abrj-305	7	10	size	size	NOUN
abrj-305	7	11	,	,	PUNCT
abrj-305	7	12	fund	fund	NOUN
abrj-305	7	13	category	category	NOUN
abrj-305	7	14	,	,	PUNCT
abrj-305	7	15	and	and	CCONJ
abrj-305	7	16	investment	investment	NOUN
abrj-305	7	17	area	area	NOUN
abrj-305	7	18	.	.	PUNCT
abrj-305	8	1	using	use	VERB
abrj-305	8	2	regression	regression	NOUN
abrj-305	8	3	analysis	analysis	NOUN
abrj-305	8	4	,	,	PUNCT
abrj-305	8	5	the	the	DET
abrj-305	8	6	study	study	NOUN
abrj-305	8	7	investigates	investigate	VERB
abrj-305	8	8	how	how	SCONJ
abrj-305	8	9	these	these	DET
abrj-305	8	10	characteristics	characteristic	NOUN
abrj-305	8	11	influence	influence	NOUN
abrj-305	8	12	esg	esg	PROPN
abrj-305	8	13	risks	risk	NOUN
abrj-305	8	14	across	across	ADP
abrj-305	8	15	different	different	ADJ
abrj-305	8	16	fund	fund	NOUN
abrj-305	8	17	types	type	NOUN
abrj-305	8	18	and	and	CCONJ
abrj-305	8	19	geographical	geographical	ADJ
abrj-305	8	20	regions	region	NOUN
abrj-305	8	21	.	.	PUNCT
abrj-305	9	1	the	the	DET
abrj-305	9	2	methodology	methodology	NOUN
abrj-305	9	3	addresses	address	VERB
abrj-305	9	4	potential	potential	ADJ
abrj-305	9	5	statistical	statistical	ADJ
abrj-305	9	6	issues	issue	NOUN
abrj-305	9	7	such	such	ADJ
abrj-305	9	8	as	as	ADP
abrj-305	9	9	multicollinearity	multicollinearity	NOUN
abrj-305	9	10	and	and	CCONJ
abrj-305	9	11	heteroscedasticity	heteroscedasticity	NOUN
abrj-305	9	12	to	to	PART
abrj-305	9	13	ensure	ensure	VERB
abrj-305	9	14	robust	robust	ADJ
abrj-305	9	15	results	result	NOUN
abrj-305	9	16	.	.	PUNCT
abrj-305	10	1	the	the	DET
abrj-305	10	2	findings	finding	NOUN
abrj-305	10	3	reveal	reveal	VERB
abrj-305	10	4	significant	significant	ADJ
abrj-305	10	5	relationships	relationship	NOUN
abrj-305	10	6	between	between	ADP
abrj-305	10	7	fund	fund	NOUN
abrj-305	10	8	attributes	attribute	NOUN
abrj-305	10	9	and	and	CCONJ
abrj-305	10	10	esg	esg	NOUN
abrj-305	10	11	risk	risk	NOUN
abrj-305	10	12	levels	level	NOUN
abrj-305	10	13	,	,	PUNCT
abrj-305	10	14	with	with	ADP
abrj-305	10	15	notable	notable	ADJ
abrj-305	10	16	variations	variation	NOUN
abrj-305	10	17	across	across	ADP
abrj-305	10	18	regions	region	NOUN
abrj-305	10	19	and	and	CCONJ
abrj-305	10	20	fund	fund	NOUN
abrj-305	10	21	types	type	NOUN
abrj-305	10	22	.	.	PUNCT
abrj-305	11	1	fund	fund	NOUN
abrj-305	11	2	size	size	NOUN
abrj-305	11	3	is	be	AUX
abrj-305	11	4	found	find	VERB
abrj-305	11	5	to	to	PART
abrj-305	11	6	positively	positively	ADV
abrj-305	11	7	influence	influence	VERB
abrj-305	11	8	certain	certain	ADJ
abrj-305	11	9	esg	esg	NOUN
abrj-305	11	10	risks	risk	NOUN
abrj-305	11	11	,	,	PUNCT
abrj-305	11	12	while	while	SCONJ
abrj-305	11	13	geographical	geographical	ADJ
abrj-305	11	14	location	location	NOUN
abrj-305	11	15	and	and	CCONJ
abrj-305	11	16	investment	investment	NOUN
abrj-305	11	17	focus	focus	NOUN
abrj-305	11	18	play	play	VERB
abrj-305	11	19	crucial	crucial	ADJ
abrj-305	11	20	roles	role	NOUN
abrj-305	11	21	in	in	ADP
abrj-305	11	22	determining	determine	VERB
abrj-305	11	23	the	the	DET
abrj-305	11	24	level	level	NOUN
abrj-305	11	25	of	of	ADP
abrj-305	11	26	esg	esg	NOUN
abrj-305	11	27	risks	risk	NOUN
abrj-305	11	28	.	.	PUNCT
abrj-305	12	1	the	the	DET
abrj-305	12	2	study	study	NOUN
abrj-305	12	3	aims	aim	VERB
abrj-305	12	4	to	to	PART
abrj-305	12	5	contribute	contribute	VERB
abrj-305	12	6	to	to	ADP
abrj-305	12	7	a	a	DET
abrj-305	12	8	better	well	ADJ
abrj-305	12	9	understanding	understanding	NOUN
abrj-305	12	10	of	of	ADP
abrj-305	12	11	esg	esg	PROPN
abrj-305	12	12	risk	risk	NOUN
abrj-305	12	13	factors	factor	NOUN
abrj-305	12	14	in	in	ADP
abrj-305	12	15	investment	investment	NOUN
abrj-305	12	16	portfolios	portfolio	NOUN
abrj-305	12	17	,	,	PUNCT
abrj-305	12	18	offering	offer	VERB
abrj-305	12	19	valuable	valuable	ADJ
abrj-305	12	20	implications	implication	NOUN
abrj-305	12	21	for	for	ADP
abrj-305	12	22	fund	fund	NOUN
abrj-305	12	23	managers	manager	NOUN
abrj-305	12	24	and	and	CCONJ
abrj-305	12	25	investors	investor	NOUN
abrj-305	12	26	in	in	ADP
abrj-305	12	27	their	their	PRON
abrj-305	12	28	decision	decision	NOUN
abrj-305	12	29	-	-	PUNCT
abrj-305	12	30	making	make	VERB
abrj-305	12	31	processes	process	NOUN
abrj-305	12	32	and	and	CCONJ
abrj-305	12	33	risk	risk	NOUN
abrj-305	12	34	management	management	NOUN
abrj-305	12	35	strategies	strategy	NOUN
abrj-305	12	36	.	.	PUNCT
abrj-305	13	1	keywords	keyword	NOUN
abrj-305	13	2	:	:	PUNCT
abrj-305	13	3	environmental	environmental	ADJ
abrj-305	13	4	,	,	PUNCT
abrj-305	13	5	social	social	ADJ
abrj-305	13	6	,	,	PUNCT
abrj-305	13	7	governance	governance	NOUN
abrj-305	13	8	;	;	PUNCT
abrj-305	13	9	risk	risk	NOUN
abrj-305	13	10	,	,	PUNCT
abrj-305	13	11	investment	investment	NOUN
abrj-305	13	12	.	.	PUNCT
abrj-305	14	1	jel	jel	PROPN
abrj-305	14	2	classification	classification	PROPN
abrj-305	14	3	:	:	PUNCT
abrj-305	14	4	g34	g34	NOUN
abrj-305	14	5	;	;	PUNCT
abrj-305	14	6	m14	m14	NOUN
abrj-305	14	7	;	;	PUNCT
abrj-305	14	8	q51	q51	NOUN
abrj-305	14	9	.	.	PUNCT
abrj-305	15	1	1	1	X
abrj-305	15	2	.	.	X
abrj-305	15	3	introduction	introduction	NOUN
abrj-305	15	4	the	the	DET
abrj-305	15	5	consideration	consideration	NOUN
abrj-305	15	6	of	of	ADP
abrj-305	15	7	environmental	environmental	ADJ
abrj-305	15	8	,	,	PUNCT
abrj-305	15	9	social	social	ADJ
abrj-305	15	10	,	,	PUNCT
abrj-305	15	11	and	and	CCONJ
abrj-305	15	12	governance	governance	NOUN
abrj-305	15	13	(	(	PUNCT
abrj-305	15	14	esg	esg	NOUN
abrj-305	15	15	)	)	PUNCT
abrj-305	15	16	factors	factor	NOUN
abrj-305	15	17	has	have	AUX
abrj-305	15	18	gained	gain	VERB
abrj-305	15	19	significant	significant	ADJ
abrj-305	15	20	attention	attention	NOUN
abrj-305	15	21	in	in	ADP
abrj-305	15	22	the	the	DET
abrj-305	15	23	investment	investment	NOUN
abrj-305	15	24	management	management	NOUN
abrj-305	15	25	industry	industry	NOUN
abrj-305	15	26	in	in	ADP
abrj-305	15	27	recent	recent	ADJ
abrj-305	15	28	years	year	NOUN
abrj-305	15	29	(	(	PUNCT
abrj-305	15	30	friede	friede	NOUN
abrj-305	15	31	et	et	PROPN
abrj-305	15	32	al	al	PROPN
abrj-305	15	33	.	.	PROPN
abrj-305	15	34	,	,	PUNCT
abrj-305	15	35	2015	2015	NUM
abrj-305	15	36	;	;	PUNCT
abrj-305	15	37	eccles	eccles	PROPN
abrj-305	15	38	&	&	CCONJ
abrj-305	15	39	klimenko	klimenko	PROPN
abrj-305	15	40	,	,	PUNCT
abrj-305	15	41	2019	2019	NUM
abrj-305	15	42	)	)	PUNCT
abrj-305	15	43	.	.	PUNCT
abrj-305	16	1	numerous	numerous	ADJ
abrj-305	16	2	studies	study	NOUN
abrj-305	16	3	have	have	AUX
abrj-305	16	4	explored	explore	VERB
abrj-305	16	5	the	the	DET
abrj-305	16	6	relationship	relationship	NOUN
abrj-305	16	7	between	between	ADP
abrj-305	16	8	esg	esg	NOUN
abrj-305	16	9	performance	performance	NOUN
abrj-305	16	10	and	and	CCONJ
abrj-305	16	11	financial	financial	ADJ
abrj-305	16	12	outcomes	outcome	NOUN
abrj-305	16	13	,	,	PUNCT
abrj-305	16	14	with	with	ADP
abrj-305	16	15	mixed	mixed	ADJ
abrj-305	16	16	results	result	NOUN
abrj-305	16	17	(	(	PUNCT
abrj-305	16	18	margolis	margolis	PROPN
abrj-305	16	19	et	et	PROPN
abrj-305	16	20	al	al	PROPN
abrj-305	16	21	.	.	PROPN
abrj-305	16	22	,	,	PUNCT
abrj-305	16	23	2009	2009	NUM
abrj-305	16	24	;	;	PUNCT
abrj-305	16	25	orlitzky	orlitzky	NOUN
abrj-305	16	26	et	et	PROPN
abrj-305	16	27	al	al	PROPN
abrj-305	16	28	.	.	PROPN
abrj-305	16	29	,	,	PUNCT
abrj-305	16	30	2003	2003	NUM
abrj-305	16	31	)	)	PUNCT
abrj-305	16	32	.	.	PUNCT
abrj-305	17	1	while	while	SCONJ
abrj-305	17	2	these	these	DET
abrj-305	17	3	studies	study	NOUN
abrj-305	17	4	have	have	AUX
abrj-305	17	5	provided	provide	VERB
abrj-305	17	6	valuable	valuable	ADJ
abrj-305	17	7	insights	insight	NOUN
abrj-305	17	8	into	into	ADP
abrj-305	17	9	the	the	DET
abrj-305	17	10	financial	financial	ADJ
abrj-305	17	11	implications	implication	NOUN
abrj-305	17	12	of	of	ADP
abrj-305	17	13	esg	esg	NOUN
abrj-305	17	14	integration	integration	NOUN
abrj-305	17	15	,	,	PUNCT
abrj-305	17	16	they	they	PRON
abrj-305	17	17	have	have	AUX
abrj-305	17	18	largely	largely	ADV
abrj-305	17	19	overlooked	overlook	VERB
abrj-305	17	20	the	the	DET
abrj-305	17	21	specific	specific	ADJ
abrj-305	17	22	influence	influence	NOUN
abrj-305	17	23	of	of	ADP
abrj-305	17	24	fund	fund	NOUN
abrj-305	17	25	characteristics	characteristic	NOUN
abrj-305	17	26	—	—	PUNCT
abrj-305	17	27	such	such	ADJ
abrj-305	17	28	as	as	ADP
abrj-305	17	29	size	size	NOUN
abrj-305	17	30	,	,	PUNCT
abrj-305	17	31	category	category	NOUN
abrj-305	17	32	,	,	PUNCT
abrj-305	17	33	and	and	CCONJ
abrj-305	17	34	investment	investment	NOUN
abrj-305	17	35	area	area	NOUN
abrj-305	17	36	—	—	PUNCT
abrj-305	17	37	on	on	ADP
abrj-305	17	38	esg	esg	NOUN
abrj-305	17	39	risks	risk	NOUN
abrj-305	17	40	.	.	PUNCT
abrj-305	18	1	this	this	DET
abrj-305	18	2	gap	gap	NOUN
abrj-305	18	3	in	in	ADP
abrj-305	18	4	the	the	DET
abrj-305	18	5	literature	literature	NOUN
abrj-305	18	6	is	be	AUX
abrj-305	18	7	particularly	particularly	ADV
abrj-305	18	8	significant	significant	ADJ
abrj-305	18	9	given	give	VERB
abrj-305	18	10	the	the	DET
abrj-305	18	11	growing	grow	VERB
abrj-305	18	12	emphasis	emphasis	NOUN
abrj-305	18	13	on	on	ADP
abrj-305	18	14	sustainable	sustainable	ADJ
abrj-305	18	15	investing	investing	NOUN
abrj-305	18	16	and	and	CCONJ
abrj-305	18	17	the	the	DET
abrj-305	18	18	increasing	increase	VERB
abrj-305	18	19	sophistication	sophistication	NOUN
abrj-305	18	20	of	of	ADP
abrj-305	18	21	esg	esg	PROPN
abrj-305	18	22	risk	risk	NOUN
abrj-305	18	23	assessment	assessment	NOUN
abrj-305	18	24	methodologies	methodology	NOUN
abrj-305	18	25	.	.	PUNCT
abrj-305	19	1	this	this	DET
abrj-305	19	2	study	study	NOUN
abrj-305	19	3	aims	aim	VERB
abrj-305	19	4	to	to	PART
abrj-305	19	5	address	address	VERB
abrj-305	19	6	this	this	DET
abrj-305	19	7	gap	gap	NOUN
abrj-305	19	8	by	by	ADP
abrj-305	19	9	investigating	investigate	VERB
abrj-305	19	10	the	the	DET
abrj-305	19	11	impact	impact	NOUN
abrj-305	19	12	of	of	ADP
abrj-305	19	13	fund	fund	NOUN
abrj-305	19	14	size	size	NOUN
abrj-305	19	15	,	,	PUNCT
abrj-305	19	16	fund	fund	NOUN
abrj-305	19	17	category	category	NOUN
abrj-305	19	18	,	,	PUNCT
abrj-305	19	19	and	and	CCONJ
abrj-305	19	20	investment	investment	NOUN
abrj-305	19	21	area	area	NOUN
abrj-305	19	22	on	on	ADP
abrj-305	19	23	the	the	DET
abrj-305	19	24	environmental	environmental	ADJ
abrj-305	19	25	,	,	PUNCT
abrj-305	19	26	social	social	ADJ
abrj-305	19	27	,	,	PUNCT
abrj-305	19	28	and	and	CCONJ
abrj-305	19	29	governance	governance	NOUN
abrj-305	19	30	risks	risk	NOUN
abrj-305	19	31	of	of	ADP
abrj-305	19	32	investment	investment	NOUN
abrj-305	19	33	funds	fund	NOUN
abrj-305	19	34	.	.	PUNCT
abrj-305	20	1	specifically	specifically	ADV
abrj-305	20	2	,	,	PUNCT
abrj-305	20	3	the	the	DET
abrj-305	20	4	research	research	NOUN
abrj-305	20	5	seeks	seek	VERB
abrj-305	20	6	to	to	PART
abrj-305	20	7	answer	answer	VERB
abrj-305	20	8	the	the	DET
abrj-305	20	9	following	follow	VERB
abrj-305	20	10	questions	question	NOUN
abrj-305	20	11	:	:	PUNCT
abrj-305	20	12	1	1	X
abrj-305	20	13	.	.	PUNCT
abrj-305	20	14	does	do	VERB
abrj-305	20	15	the	the	DET
abrj-305	20	16	size	size	NOUN
abrj-305	20	17	of	of	ADP
abrj-305	20	18	the	the	DET
abrj-305	20	19	fund	fund	NOUN
abrj-305	20	20	influence	influence	NOUN
abrj-305	20	21	the	the	DET
abrj-305	20	22	environmental	environmental	ADJ
abrj-305	20	23	,	,	PUNCT
abrj-305	20	24	social	social	ADJ
abrj-305	20	25	,	,	PUNCT
abrj-305	20	26	and	and	CCONJ
abrj-305	20	27	governance	governance	NOUN
abrj-305	20	28	risks	risk	NOUN
abrj-305	20	29	?	?	PUNCT
abrj-305	21	1	2.how	2.how	PROPN
abrj-305	21	2	does	do	AUX
abrj-305	21	3	the	the	DET
abrj-305	21	4	fund	fund	NOUN
abrj-305	21	5	category	category	NOUN
abrj-305	21	6	(	(	PUNCT
abrj-305	21	7	e.g.	e.g.	ADV
abrj-305	21	8	,	,	PUNCT
abrj-305	21	9	equity	equity	NOUN
abrj-305	21	10	,	,	PUNCT
abrj-305	21	11	fixed	fix	VERB
abrj-305	21	12	income	income	NOUN
abrj-305	21	13	)	)	PUNCT
abrj-305	21	14	affect	affect	VERB
abrj-305	21	15	the	the	DET
abrj-305	21	16	environmental	environmental	ADJ
abrj-305	21	17	,	,	PUNCT
abrj-305	21	18	social	social	ADJ
abrj-305	21	19	,	,	PUNCT
abrj-305	21	20	and	and	CCONJ
abrj-305	21	21	governance	governance	NOUN
abrj-305	21	22	risks	risk	NOUN
abrj-305	21	23	?	?	PUNCT
abrj-305	21	24	.	.	PUNCT
abrj-305	22	1	3	3	X
abrj-305	22	2	.	.	X
abrj-305	22	3	does	do	VERB
abrj-305	22	4	the	the	DET
abrj-305	22	5	investment	investment	NOUN
abrj-305	22	6	area	area	NOUN
abrj-305	22	7	(	(	PUNCT
abrj-305	22	8	e.g.	e.g.	ADV
abrj-305	22	9	,	,	PUNCT
abrj-305	22	10	europe	europe	PROPN
abrj-305	22	11	,	,	PUNCT
abrj-305	22	12	asia	asia	PROPN
abrj-305	22	13	,	,	PUNCT
abrj-305	22	14	global	global	ADJ
abrj-305	22	15	)	)	PUNCT
abrj-305	22	16	impact	impact	NOUN
abrj-305	22	17	the	the	DET
abrj-305	22	18	environmental	environmental	ADJ
abrj-305	22	19	,	,	PUNCT
abrj-305	22	20	social	social	ADJ
abrj-305	22	21	,	,	PUNCT
abrj-305	22	22	and	and	CCONJ
abrj-305	22	23	governance	governance	NOUN
abrj-305	22	24	risks	risk	NOUN
abrj-305	22	25	?	?	PUNCT
abrj-305	23	1	by	by	ADP
abrj-305	23	2	addressing	address	VERB
abrj-305	23	3	these	these	DET
abrj-305	23	4	research	research	NOUN
abrj-305	23	5	questions	question	NOUN
abrj-305	23	6	,	,	PUNCT
abrj-305	23	7	this	this	DET
abrj-305	23	8	paper	paper	NOUN
abrj-305	23	9	contributes	contribute	VERB
abrj-305	23	10	to	to	ADP
abrj-305	23	11	the	the	DET
abrj-305	23	12	existing	exist	VERB
abrj-305	23	13	literature	literature	NOUN
abrj-305	23	14	on	on	ADP
abrj-305	23	15	the	the	DET
abrj-305	23	16	integration	integration	NOUN
abrj-305	23	17	of	of	ADP
abrj-305	23	18	esg	esg	PROPN
abrj-305	23	19	factors	factor	NOUN
abrj-305	23	20	in	in	ADP
abrj-305	23	21	investment	investment	NOUN
abrj-305	23	22	decision	decision	NOUN
abrj-305	23	23	-	-	PUNCT
abrj-305	23	24	making	making	NOUN
abrj-305	23	25	(	(	PUNCT
abrj-305	23	26	amel	amel	PROPN
abrj-305	23	27	-	-	PUNCT
abrj-305	23	28	zadeh	zadeh	PROPN
abrj-305	23	29	&	&	CCONJ
abrj-305	23	30	serafeim	serafeim	PROPN
abrj-305	23	31	,	,	PUNCT
abrj-305	23	32	2018	2018	NUM
abrj-305	23	33	;	;	PUNCT
abrj-305	23	34	dyck	dyck	VERB
abrj-305	23	35	et	et	PROPN
abrj-305	23	36	al	al	PROPN
abrj-305	23	37	.	.	PROPN
abrj-305	23	38	,	,	PUNCT
abrj-305	23	39	2019	2019	NUM
abrj-305	23	40	)	)	PUNCT
abrj-305	23	41	.	.	PUNCT
abrj-305	24	1	the	the	DET
abrj-305	24	2	findings	finding	NOUN
abrj-305	24	3	of	of	ADP
abrj-305	24	4	this	this	DET
abrj-305	24	5	study	study	NOUN
abrj-305	24	6	provide	provide	VERB
abrj-305	24	7	insights	insight	NOUN
abrj-305	24	8	for	for	ADP
abrj-305	24	9	fund	fund	NOUN
abrj-305	24	10	managers	manager	NOUN
abrj-305	24	11	,	,	PUNCT
abrj-305	24	12	financial	financial	ADJ
abrj-305	24	13	advisors	advisor	NOUN
abrj-305	24	14	,	,	PUNCT
abrj-305	24	15	and	and	CCONJ
abrj-305	24	16	investors	investor	NOUN
abrj-305	24	17	seeking	seek	VERB
abrj-305	24	18	to	to	PART
abrj-305	24	19	incorporate	incorporate	VERB
abrj-305	24	20	esg	esg	NOUN
abrj-305	24	21	considerations	consideration	NOUN
abrj-305	24	22	into	into	ADP
abrj-305	24	23	their	their	PRON
abrj-305	24	24	investment	investment	NOUN
abrj-305	24	25	strategies	strategy	NOUN
abrj-305	24	26	.	.	PUNCT
abrj-305	25	1	furthermore	furthermore	ADV
abrj-305	25	2	,	,	PUNCT
abrj-305	25	3	the	the	DET
abrj-305	25	4	study	study	NOUN
abrj-305	25	5	employs	employ	VERB
abrj-305	25	6	robust	robust	ADJ
abrj-305	25	7	regression	regression	NOUN
abrj-305	25	8	analysis	analysis	NOUN
abrj-305	25	9	to	to	PART
abrj-305	25	10	examine	examine	VERB
abrj-305	25	11	these	these	DET
abrj-305	25	12	relationships	relationship	NOUN
abrj-305	25	13	,	,	PUNCT
abrj-305	25	14	addressing	address	VERB
abrj-305	25	15	potential	potential	ADJ
abrj-305	25	16	econometric	econometric	ADJ
abrj-305	25	17	issues	issue	NOUN
abrj-305	25	18	such	such	ADJ
abrj-305	25	19	as	as	ADP
abrj-305	25	20	heteroscedasticity	heteroscedasticity	NOUN
abrj-305	25	21	and	and	CCONJ
abrj-305	25	22	multicollinearity	multicollinearity	NOUN
abrj-305	25	23	.	.	PUNCT
abrj-305	26	1	this	this	DET
abrj-305	26	2	methodological	methodological	ADJ
abrj-305	26	3	ensures	ensure	NOUN
abrj-305	26	4	that	that	SCONJ
abrj-305	26	5	the	the	DET
abrj-305	26	6	results	result	NOUN
abrj-305	26	7	are	be	AUX
abrj-305	26	8	both	both	CCONJ
abrj-305	26	9	reliable	reliable	ADJ
abrj-305	26	10	and	and	CCONJ
abrj-305	26	11	actionable	actionable	ADJ
abrj-305	26	12	.	.	PUNCT
abrj-305	27	1	the	the	DET
abrj-305	27	2	significance	significance	NOUN
abrj-305	27	3	of	of	ADP
abrj-305	27	4	this	this	DET
abrj-305	27	5	research	research	NOUN
abrj-305	27	6	lies	lie	VERB
abrj-305	27	7	in	in	ADP
abrj-305	27	8	its	its	PRON
abrj-305	27	9	ability	ability	NOUN
abrj-305	27	10	to	to	PART
abrj-305	27	11	bridge	bridge	VERB
abrj-305	27	12	the	the	DET
abrj-305	27	13	gap	gap	NOUN
abrj-305	27	14	between	between	ADP
abrj-305	27	15	theoretical	theoretical	ADJ
abrj-305	27	16	discussions	discussion	NOUN
abrj-305	27	17	of	of	ADP
abrj-305	27	18	esg	esg	NOUN
abrj-305	27	19	integration	integration	NOUN
abrj-305	27	20	and	and	CCONJ
abrj-305	27	21	practical	practical	ADJ
abrj-305	27	22	investment	investment	NOUN
abrj-305	27	23	decision	decision	NOUN
abrj-305	27	24	-	-	PUNCT
abrj-305	27	25	making	making	NOUN
abrj-305	27	26	.	.	PUNCT
abrj-305	28	1	while	while	SCONJ
abrj-305	28	2	previous	previous	ADJ
abrj-305	28	3	studies	study	NOUN
abrj-305	28	4	have	have	AUX
abrj-305	28	5	focused	focus	VERB
abrj-305	28	6	on	on	ADP
abrj-305	28	7	the	the	DET
abrj-305	28	8	performance	performance	NOUN
abrj-305	28	9	implications	implication	NOUN
abrj-305	28	10	of	of	ADP
abrj-305	28	11	esg	esg	NOUN
abrj-305	28	12	factors	factor	NOUN
abrj-305	28	13	,	,	PUNCT
abrj-305	28	14	this	this	DET
abrj-305	28	15	paper	paper	NOUN
abrj-305	28	16	shifts	shift	NOUN
abrj-305	28	17	the	the	DET
abrj-305	28	18	focus	focus	NOUN
abrj-305	28	19	to	to	ADP
abrj-305	28	20	understanding	understand	VERB
abrj-305	28	21	how	how	SCONJ
abrj-305	28	22	structural	structural	ADJ
abrj-305	28	23	characteristics	characteristic	NOUN
abrj-305	28	24	of	of	ADP
abrj-305	28	25	funds	fund	NOUN
abrj-305	28	26	influence	influence	VERB
abrj-305	28	27	their	their	PRON
abrj-305	28	28	esg	esg	NOUN
abrj-305	28	29	risk	risk	NOUN
abrj-305	28	30	profiles	profile	NOUN
abrj-305	28	31	.	.	PUNCT
abrj-305	29	1	this	this	DET
abrj-305	29	2	perspective	perspective	NOUN
abrj-305	29	3	is	be	AUX
abrj-305	29	4	crucial	crucial	ADJ
abrj-305	29	5	for	for	ADP
abrj-305	29	6	developing	develop	VERB
abrj-305	29	7	targeted	target	VERB
abrj-305	29	8	strategies	strategy	NOUN
abrj-305	29	9	to	to	PART
abrj-305	29	10	manage	manage	VERB
abrj-305	29	11	esg	esg	NOUN
abrj-305	29	12	risks	risk	NOUN
abrj-305	29	13	and	and	CCONJ
abrj-305	29	14	enhance	enhance	VERB
abrj-305	29	15	the	the	DET
abrj-305	29	16	sustainability	sustainability	NOUN
abrj-305	29	17	of	of	ADP
abrj-305	29	18	investment	investment	NOUN
abrj-305	29	19	portfolios	portfolio	NOUN
abrj-305	29	20	.	.	PUNCT
abrj-305	30	1	the	the	DET
abrj-305	30	2	findings	finding	NOUN
abrj-305	30	3	of	of	ADP
abrj-305	30	4	this	this	DET
abrj-305	30	5	research	research	NOUN
abrj-305	30	6	have	have	VERB
abrj-305	30	7	important	important	ADJ
abrj-305	30	8	implications	implication	NOUN
abrj-305	30	9	for	for	ADP
abrj-305	30	10	various	various	ADJ
abrj-305	30	11	stakeholders	stakeholder	NOUN
abrj-305	30	12	in	in	ADP
abrj-305	30	13	the	the	DET
abrj-305	30	14	investment	investment	NOUN
abrj-305	30	15	community	community	NOUN
abrj-305	30	16	.	.	PUNCT
abrj-305	31	1	for	for	ADP
abrj-305	31	2	fund	fund	NOUN
abrj-305	31	3	managers	manager	NOUN
abrj-305	31	4	,	,	PUNCT
abrj-305	31	5	understanding	understand	VERB
abrj-305	31	6	how	how	SCONJ
abrj-305	31	7	structural	structural	ADJ
abrj-305	31	8	characteristics	characteristic	NOUN
abrj-305	31	9	influence	influence	NOUN
abrj-305	31	10	esg	esg	PROPN
abrj-305	31	11	risks	risk	NOUN
abrj-305	31	12	can	can	AUX
abrj-305	31	13	inform	inform	VERB
abrj-305	31	14	portfolio	portfolio	NOUN
abrj-305	31	15	construction	construction	NOUN
abrj-305	31	16	and	and	CCONJ
abrj-305	31	17	risk	risk	NOUN
abrj-305	31	18	management	management	NOUN
abrj-305	31	19	strategies	strategy	NOUN
abrj-305	31	20	.	.	PUNCT
abrj-305	32	1	for	for	ADP
abrj-305	32	2	investors	investor	NOUN
abrj-305	32	3	,	,	PUNCT
abrj-305	32	4	our	our	PRON
abrj-305	32	5	results	result	NOUN
abrj-305	32	6	provide	provide	VERB
abrj-305	32	7	valuable	valuable	ADJ
abrj-305	32	8	insights	insight	NOUN
abrj-305	32	9	for	for	ADP
abrj-305	32	10	fund	fund	NOUN
abrj-305	32	11	mailto:juan.infante@villanueva.edu	mailto:juan.infante@villanueva.edu	PROPN
abrj-305	32	12	mailto:tomas.curto@villanueva.edu	mailto:tomas.curto@villanueva.edu	VERB
abrj-305	32	13	mailto:carlos.arenas.laorga@gmail.com	mailto:carlos.arenas.laorga@gmail.com	PROPN
abrj-305	32	14	https://doi.org/10.55220/25766759.305	https://doi.org/10.55220/25766759.305	PROPN
abrj-305	32	15	asian	asian	ADJ
abrj-305	32	16	business	business	PROPN
abrj-305	32	17	research	research	NOUN
abrj-305	32	18	journal	journal	NOUN
abrj-305	32	19	,	,	PUNCT
abrj-305	32	20	2025	2025	NUM
abrj-305	32	21	,	,	PUNCT
abrj-305	32	22	10(3	10(3	NUM
abrj-305	32	23	):	):	PUNCT
abrj-305	32	24	33	33	NUM
abrj-305	32	25	-	-	SYM
abrj-305	32	26	44	44	NUM
abrj-305	32	27	34	34	NUM
abrj-305	32	28	©	©	PROPN
abrj-305	32	29	2025	2025	NUM
abrj-305	32	30	by	by	ADP
abrj-305	32	31	the	the	DET
abrj-305	32	32	authors	author	NOUN
abrj-305	32	33	;	;	PUNCT
abrj-305	32	34	licensee	licensee	NOUN
abrj-305	32	35	eastern	eastern	ADJ
abrj-305	32	36	centre	centre	NOUN
abrj-305	32	37	of	of	ADP
abrj-305	32	38	science	science	NOUN
abrj-305	32	39	and	and	CCONJ
abrj-305	32	40	education	education	NOUN
abrj-305	32	41	,	,	PUNCT
abrj-305	32	42	usa	usa	PROPN
abrj-305	32	43	selection	selection	NOUN
abrj-305	32	44	and	and	CCONJ
abrj-305	32	45	portfolio	portfolio	NOUN
abrj-305	32	46	optimization	optimization	NOUN
abrj-305	32	47	,	,	PUNCT
abrj-305	32	48	particularly	particularly	ADV
abrj-305	32	49	when	when	SCONJ
abrj-305	32	50	esg	esg	PROPN
abrj-305	32	51	considerations	consideration	NOUN
abrj-305	32	52	are	be	AUX
abrj-305	32	53	paramount	paramount	ADJ
abrj-305	32	54	.	.	PUNCT
abrj-305	33	1	additionally	additionally	ADV
abrj-305	33	2	,	,	PUNCT
abrj-305	33	3	our	our	PRON
abrj-305	33	4	findings	finding	NOUN
abrj-305	33	5	contribute	contribute	VERB
abrj-305	33	6	to	to	ADP
abrj-305	33	7	the	the	DET
abrj-305	33	8	broader	broad	ADJ
abrj-305	33	9	academic	academic	ADJ
abrj-305	33	10	discourse	discourse	NOUN
abrj-305	33	11	on	on	ADP
abrj-305	33	12	sustainable	sustainable	ADJ
abrj-305	33	13	finance	finance	NOUN
abrj-305	33	14	by	by	ADP
abrj-305	33	15	providing	provide	VERB
abrj-305	33	16	empirical	empirical	ADJ
abrj-305	33	17	evidence	evidence	NOUN
abrj-305	33	18	of	of	ADP
abrj-305	33	19	the	the	DET
abrj-305	33	20	relationships	relationship	NOUN
abrj-305	33	21	between	between	ADP
abrj-305	33	22	institutional	institutional	ADJ
abrj-305	33	23	characteristics	characteristic	NOUN
abrj-305	33	24	and	and	CCONJ
abrj-305	33	25	esg	esg	NOUN
abrj-305	33	26	risk	risk	NOUN
abrj-305	33	27	exposure	exposure	NOUN
abrj-305	33	28	.	.	PUNCT
abrj-305	34	1	the	the	DET
abrj-305	34	2	paper	paper	NOUN
abrj-305	34	3	is	be	AUX
abrj-305	34	4	organized	organize	VERB
abrj-305	34	5	as	as	SCONJ
abrj-305	34	6	follows	follow	VERB
abrj-305	34	7	:	:	PUNCT
abrj-305	34	8	section	section	NOUN
abrj-305	34	9	2	2	NUM
abrj-305	34	10	reviews	review	VERB
abrj-305	34	11	the	the	DET
abrj-305	34	12	relevant	relevant	ADJ
abrj-305	34	13	literature	literature	NOUN
abrj-305	34	14	and	and	CCONJ
abrj-305	34	15	develops	develop	VERB
abrj-305	34	16	our	our	PRON
abrj-305	34	17	hypotheses	hypothesis	NOUN
abrj-305	34	18	.	.	PUNCT
abrj-305	35	1	section	section	NOUN
abrj-305	35	2	3	3	NUM
abrj-305	35	3	describes	describe	VERB
abrj-305	35	4	our	our	PRON
abrj-305	35	5	data	datum	NOUN
abrj-305	35	6	and	and	CCONJ
abrj-305	35	7	methodology	methodology	NOUN
abrj-305	35	8	.	.	PUNCT
abrj-305	36	1	section	section	NOUN
abrj-305	36	2	4	4	NUM
abrj-305	36	3	presents	present	VERB
abrj-305	36	4	our	our	PRON
abrj-305	36	5	empirical	empirical	ADJ
abrj-305	36	6	results	result	NOUN
abrj-305	36	7	and	and	CCONJ
abrj-305	36	8	analysis.finally	analysis.finally	ADV
abrj-305	36	9	,	,	PUNCT
abrj-305	36	10	section	section	NOUN
abrj-305	36	11	5	5	NUM
abrj-305	36	12	discusses	discuss	VERB
abrj-305	36	13	the	the	DET
abrj-305	36	14	implications	implication	NOUN
abrj-305	36	15	of	of	ADP
abrj-305	36	16	our	our	PRON
abrj-305	36	17	findings	finding	NOUN
abrj-305	36	18	and	and	CCONJ
abrj-305	36	19	concludes	conclude	VERB
abrj-305	36	20	with	with	ADP
abrj-305	36	21	suggestions	suggestion	NOUN
abrj-305	36	22	for	for	ADP
abrj-305	36	23	future	future	ADJ
abrj-305	36	24	research	research	NOUN
abrj-305	36	25	.	.	PUNCT
abrj-305	37	1	2	2	X
abrj-305	37	2	.	.	X
abrj-305	37	3	literature	literature	NOUN
abrj-305	37	4	review	review	VERB
abrj-305	37	5	the	the	DET
abrj-305	37	6	integration	integration	NOUN
abrj-305	37	7	of	of	ADP
abrj-305	37	8	environmental	environmental	ADJ
abrj-305	37	9	,	,	PUNCT
abrj-305	37	10	social	social	ADJ
abrj-305	37	11	,	,	PUNCT
abrj-305	37	12	and	and	CCONJ
abrj-305	37	13	governance	governance	NOUN
abrj-305	37	14	(	(	PUNCT
abrj-305	37	15	esg	esg	NOUN
abrj-305	37	16	)	)	PUNCT
abrj-305	37	17	factors	factor	NOUN
abrj-305	37	18	into	into	ADP
abrj-305	37	19	investment	investment	NOUN
abrj-305	37	20	decision	decision	NOUN
abrj-305	37	21	-	-	PUNCT
abrj-305	37	22	making	making	NOUN
abrj-305	37	23	has	have	AUX
abrj-305	37	24	gained	gain	VERB
abrj-305	37	25	significant	significant	ADJ
abrj-305	37	26	traction	traction	NOUN
abrj-305	37	27	in	in	ADP
abrj-305	37	28	recent	recent	ADJ
abrj-305	37	29	years	year	NOUN
abrj-305	37	30	.	.	PUNCT
abrj-305	38	1	this	this	DET
abrj-305	38	2	shift	shift	NOUN
abrj-305	38	3	reflects	reflect	VERB
abrj-305	38	4	growing	grow	VERB
abrj-305	38	5	awareness	awareness	NOUN
abrj-305	38	6	of	of	ADP
abrj-305	38	7	the	the	DET
abrj-305	38	8	financial	financial	ADJ
abrj-305	38	9	and	and	CCONJ
abrj-305	38	10	reputational	reputational	ADJ
abrj-305	38	11	risks	risk	NOUN
abrj-305	38	12	associated	associate	VERB
abrj-305	38	13	with	with	ADP
abrj-305	38	14	poor	poor	ADJ
abrj-305	38	15	esg	esg	NOUN
abrj-305	38	16	performance	performance	NOUN
abrj-305	38	17	,	,	PUNCT
abrj-305	38	18	as	as	ADV
abrj-305	38	19	well	well	ADV
abrj-305	38	20	as	as	ADP
abrj-305	38	21	the	the	DET
abrj-305	38	22	opportunities	opportunity	NOUN
abrj-305	38	23	presented	present	VERB
abrj-305	38	24	by	by	ADP
abrj-305	38	25	sustainable	sustainable	ADJ
abrj-305	38	26	investing	investing	NOUN
abrj-305	38	27	(	(	PUNCT
abrj-305	38	28	friede	friede	NOUN
abrj-305	38	29	et	et	PROPN
abrj-305	38	30	al	al	PROPN
abrj-305	38	31	.	.	PROPN
abrj-305	38	32	,	,	PUNCT
abrj-305	38	33	2015	2015	NUM
abrj-305	38	34	;	;	PUNCT
abrj-305	38	35	eccles	eccles	PROPN
abrj-305	38	36	&	&	CCONJ
abrj-305	38	37	klimenko	klimenko	PROPN
abrj-305	38	38	,	,	PUNCT
abrj-305	38	39	2019	2019	NUM
abrj-305	38	40	)	)	PUNCT
abrj-305	38	41	.	.	PUNCT
abrj-305	39	1	while	while	SCONJ
abrj-305	39	2	the	the	DET
abrj-305	39	3	relationship	relationship	NOUN
abrj-305	39	4	between	between	ADP
abrj-305	39	5	esg	esg	NOUN
abrj-305	39	6	performance	performance	NOUN
abrj-305	39	7	and	and	CCONJ
abrj-305	39	8	financial	financial	ADJ
abrj-305	39	9	outcomes	outcome	NOUN
abrj-305	39	10	has	have	AUX
abrj-305	39	11	been	be	AUX
abrj-305	39	12	extensively	extensively	ADV
abrj-305	39	13	studied	study	VERB
abrj-305	39	14	(	(	PUNCT
abrj-305	39	15	margolis	margolis	PROPN
abrj-305	39	16	et	et	PROPN
abrj-305	39	17	al	al	PROPN
abrj-305	39	18	.	.	PROPN
abrj-305	39	19	,	,	PUNCT
abrj-305	39	20	2009	2009	NUM
abrj-305	39	21	;	;	PUNCT
abrj-305	39	22	orlitzky	orlitzky	NOUN
abrj-305	39	23	et	et	PROPN
abrj-305	39	24	al	al	PROPN
abrj-305	39	25	.	.	PROPN
abrj-305	39	26	,	,	PUNCT
abrj-305	39	27	2003	2003	NUM
abrj-305	39	28	)	)	PUNCT
abrj-305	39	29	,	,	PUNCT
abrj-305	39	30	the	the	DET
abrj-305	39	31	specific	specific	ADJ
abrj-305	39	32	influence	influence	NOUN
abrj-305	39	33	of	of	ADP
abrj-305	39	34	fund	fund	NOUN
abrj-305	39	35	characteristics	characteristic	NOUN
abrj-305	39	36	—	—	PUNCT
abrj-305	39	37	such	such	ADJ
abrj-305	39	38	as	as	ADP
abrj-305	39	39	size	size	NOUN
abrj-305	39	40	,	,	PUNCT
abrj-305	39	41	category	category	NOUN
abrj-305	39	42	,	,	PUNCT
abrj-305	39	43	and	and	CCONJ
abrj-305	39	44	investment	investment	NOUN
abrj-305	39	45	area	area	NOUN
abrj-305	39	46	—	—	PUNCT
abrj-305	39	47	on	on	ADP
abrj-305	39	48	esg	esg	PROPN
abrj-305	39	49	risks	risk	NOUN
abrj-305	39	50	remains	remain	VERB
abrj-305	39	51	underexplored	underexplored	ADJ
abrj-305	39	52	.	.	PUNCT
abrj-305	40	1	this	this	DET
abrj-305	40	2	literature	literature	NOUN
abrj-305	40	3	review	review	NOUN
abrj-305	40	4	examines	examine	VERB
abrj-305	40	5	the	the	DET
abrj-305	40	6	existing	exist	VERB
abrj-305	40	7	body	body	NOUN
abrj-305	40	8	of	of	ADP
abrj-305	40	9	research	research	NOUN
abrj-305	40	10	on	on	ADP
abrj-305	40	11	these	these	DET
abrj-305	40	12	themes	theme	NOUN
abrj-305	40	13	,	,	PUNCT
abrj-305	40	14	highlighting	highlight	VERB
abrj-305	40	15	key	key	ADJ
abrj-305	40	16	findings	finding	NOUN
abrj-305	40	17	,	,	PUNCT
abrj-305	40	18	gaps	gap	NOUN
abrj-305	40	19	,	,	PUNCT
abrj-305	40	20	and	and	CCONJ
abrj-305	40	21	the	the	DET
abrj-305	40	22	relevance	relevance	NOUN
abrj-305	40	23	of	of	ADP
abrj-305	40	24	this	this	DET
abrj-305	40	25	study	study	NOUN
abrj-305	40	26	.	.	PUNCT
abrj-305	41	1	fund	fund	NOUN
abrj-305	41	2	size	size	NOUN
abrj-305	41	3	and	and	CCONJ
abrj-305	41	4	esg	esg	NOUN
abrj-305	41	5	risks	risk	NOUN
abrj-305	41	6	.	.	PUNCT
abrj-305	42	1	fund	fund	NOUN
abrj-305	42	2	size	size	NOUN
abrj-305	42	3	is	be	AUX
abrj-305	42	4	a	a	DET
abrj-305	42	5	critical	critical	ADJ
abrj-305	42	6	determinant	determinant	NOUN
abrj-305	42	7	of	of	ADP
abrj-305	42	8	esg	esg	PROPN
abrj-305	42	9	risk	risk	NOUN
abrj-305	42	10	management	management	NOUN
abrj-305	42	11	.	.	PUNCT
abrj-305	43	1	larger	large	ADJ
abrj-305	43	2	funds	fund	NOUN
abrj-305	43	3	often	often	ADV
abrj-305	43	4	have	have	VERB
abrj-305	43	5	more	more	ADJ
abrj-305	43	6	resources	resource	NOUN
abrj-305	43	7	to	to	PART
abrj-305	43	8	integrate	integrate	VERB
abrj-305	43	9	esg	esg	NOUN
abrj-305	43	10	considerations	consideration	NOUN
abrj-305	43	11	into	into	ADP
abrj-305	43	12	their	their	PRON
abrj-305	43	13	investment	investment	NOUN
abrj-305	43	14	processes	process	NOUN
abrj-305	43	15	,	,	PUNCT
abrj-305	43	16	enabling	enable	VERB
abrj-305	43	17	them	they	PRON
abrj-305	43	18	to	to	PART
abrj-305	43	19	conduct	conduct	VERB
abrj-305	43	20	thorough	thorough	ADJ
abrj-305	43	21	due	due	ADJ
abrj-305	43	22	diligence	diligence	NOUN
abrj-305	43	23	and	and	CCONJ
abrj-305	43	24	engage	engage	VERB
abrj-305	43	25	with	with	ADP
abrj-305	43	26	portfolio	portfolio	NOUN
abrj-305	43	27	companies	company	NOUN
abrj-305	43	28	(	(	PUNCT
abrj-305	43	29	dyck	dyck	VERB
abrj-305	43	30	et	et	PROPN
abrj-305	43	31	al	al	PROPN
abrj-305	43	32	.	.	PROPN
abrj-305	43	33	,	,	PUNCT
abrj-305	43	34	2019	2019	NUM
abrj-305	43	35	;	;	PUNCT
abrj-305	43	36	starks	stark	NOUN
abrj-305	43	37	et	et	PROPN
abrj-305	43	38	al	al	PROPN
abrj-305	43	39	.	.	PROPN
abrj-305	43	40	,	,	PUNCT
abrj-305	43	41	2017	2017	NUM
abrj-305	43	42	)	)	PUNCT
abrj-305	43	43	.	.	PUNCT
abrj-305	44	1	however	however	ADV
abrj-305	44	2	,	,	PUNCT
abrj-305	44	3	they	they	PRON
abrj-305	44	4	may	may	AUX
abrj-305	44	5	also	also	ADV
abrj-305	44	6	face	face	VERB
abrj-305	44	7	challenges	challenge	NOUN
abrj-305	44	8	related	relate	VERB
abrj-305	44	9	to	to	ADP
abrj-305	44	10	scale	scale	VERB
abrj-305	44	11	,	,	PUNCT
abrj-305	44	12	such	such	ADJ
abrj-305	44	13	as	as	ADP
abrj-305	44	14	increased	increase	VERB
abrj-305	44	15	complexity	complexity	NOUN
abrj-305	44	16	in	in	ADP
abrj-305	44	17	maintaining	maintain	VERB
abrj-305	44	18	consistent	consistent	ADJ
abrj-305	44	19	esg	esg	NOUN
abrj-305	44	20	standards	standard	NOUN
abrj-305	44	21	across	across	ADP
abrj-305	44	22	diverse	diverse	ADJ
abrj-305	44	23	portfolios	portfolio	NOUN
abrj-305	44	24	(	(	PUNCT
abrj-305	44	25	krueger	krueger	PROPN
abrj-305	44	26	et	et	PROPN
abrj-305	44	27	al	al	PROPN
abrj-305	44	28	.	.	PROPN
abrj-305	44	29	,	,	PUNCT
abrj-305	44	30	2020	2020	NUM
abrj-305	44	31	)	)	PUNCT
abrj-305	44	32	.	.	PUNCT
abrj-305	45	1	hartzmark	hartzmark	PROPN
abrj-305	45	2	and	and	CCONJ
abrj-305	45	3	sussman	sussman	NOUN
abrj-305	45	4	(	(	PUNCT
abrj-305	45	5	2019	2019	NUM
abrj-305	45	6	)	)	PUNCT
abrj-305	45	7	suggest	suggest	VERB
abrj-305	45	8	that	that	SCONJ
abrj-305	45	9	economies	economy	NOUN
abrj-305	45	10	of	of	ADP
abrj-305	45	11	scale	scale	NOUN
abrj-305	45	12	in	in	ADP
abrj-305	45	13	esg	esg	PROPN
abrj-305	45	14	implementation	implementation	NOUN
abrj-305	45	15	may	may	AUX
abrj-305	45	16	exist	exist	VERB
abrj-305	45	17	,	,	PUNCT
abrj-305	45	18	but	but	CCONJ
abrj-305	45	19	these	these	DET
abrj-305	45	20	benefits	benefit	NOUN
abrj-305	45	21	can	can	AUX
abrj-305	45	22	diminish	diminish	VERB
abrj-305	45	23	beyond	beyond	ADP
abrj-305	45	24	certain	certain	ADJ
abrj-305	45	25	thresholds	threshold	NOUN
abrj-305	45	26	.	.	PUNCT
abrj-305	46	1	despite	despite	SCONJ
abrj-305	46	2	these	these	DET
abrj-305	46	3	insights	insight	NOUN
abrj-305	46	4	,	,	PUNCT
abrj-305	46	5	the	the	DET
abrj-305	46	6	literature	literature	NOUN
abrj-305	46	7	offers	offer	VERB
abrj-305	46	8	mixed	mixed	ADJ
abrj-305	46	9	evidence	evidence	NOUN
abrj-305	46	10	on	on	ADP
abrj-305	46	11	the	the	DET
abrj-305	46	12	relationship	relationship	NOUN
abrj-305	46	13	between	between	ADP
abrj-305	46	14	fund	fund	NOUN
abrj-305	46	15	size	size	NOUN
abrj-305	46	16	and	and	CCONJ
abrj-305	46	17	esg	esg	NOUN
abrj-305	46	18	performance	performance	NOUN
abrj-305	46	19	,	,	PUNCT
abrj-305	46	20	necessitating	necessitate	VERB
abrj-305	46	21	further	further	ADJ
abrj-305	46	22	investigation	investigation	NOUN
abrj-305	46	23	(	(	PUNCT
abrj-305	46	24	dimson	dimson	NOUN
abrj-305	46	25	et	et	NOUN
abrj-305	46	26	al	al	PROPN
abrj-305	46	27	.	.	PROPN
abrj-305	46	28	,	,	PUNCT
abrj-305	46	29	2015	2015	NUM
abrj-305	46	30	;	;	PUNCT
abrj-305	46	31	pastor	pastor	NOUN
abrj-305	46	32	et	et	PROPN
abrj-305	46	33	al	al	PROPN
abrj-305	46	34	.	.	PROPN
abrj-305	46	35	,	,	PUNCT
abrj-305	46	36	2021	2021	NUM
abrj-305	46	37	)	)	PUNCT
abrj-305	46	38	.	.	PUNCT
abrj-305	47	1	fund	fund	NOUN
abrj-305	47	2	category	category	NOUN
abrj-305	47	3	and	and	CCONJ
abrj-305	47	4	esg	esg	NOUN
abrj-305	47	5	risks	risk	NOUN
abrj-305	47	6	.	.	PUNCT
abrj-305	48	1	the	the	DET
abrj-305	48	2	type	type	NOUN
abrj-305	48	3	of	of	ADP
abrj-305	48	4	investment	investment	NOUN
abrj-305	48	5	fund	fund	NOUN
abrj-305	48	6	—	—	PUNCT
abrj-305	48	7	whether	whether	SCONJ
abrj-305	48	8	equity	equity	NOUN
abrj-305	48	9	,	,	PUNCT
abrj-305	48	10	fixed	fix	VERB
abrj-305	48	11	income	income	NOUN
abrj-305	48	12	,	,	PUNCT
abrj-305	48	13	or	or	CCONJ
abrj-305	48	14	allocation	allocation	NOUN
abrj-305	48	15	—	—	PUNCT
abrj-305	48	16	significantly	significantly	ADV
abrj-305	48	17	influences	influence	VERB
abrj-305	48	18	its	its	PRON
abrj-305	48	19	esg	esg	NOUN
abrj-305	48	20	risk	risk	NOUN
abrj-305	48	21	profile	profile	NOUN
abrj-305	48	22	.	.	PUNCT
abrj-305	49	1	equity	equity	NOUN
abrj-305	49	2	funds	fund	NOUN
abrj-305	49	3	,	,	PUNCT
abrj-305	49	4	for	for	ADP
abrj-305	49	5	instance	instance	NOUN
abrj-305	49	6	,	,	PUNCT
abrj-305	49	7	are	be	AUX
abrj-305	49	8	often	often	ADV
abrj-305	49	9	more	more	ADV
abrj-305	49	10	exposed	expose	VERB
abrj-305	49	11	to	to	ADP
abrj-305	49	12	environmental	environmental	ADJ
abrj-305	49	13	and	and	CCONJ
abrj-305	49	14	social	social	ADJ
abrj-305	49	15	risks	risk	NOUN
abrj-305	49	16	due	due	ADP
abrj-305	49	17	to	to	ADP
abrj-305	49	18	their	their	PRON
abrj-305	49	19	investments	investment	NOUN
abrj-305	49	20	in	in	ADP
abrj-305	49	21	industries	industry	NOUN
abrj-305	49	22	with	with	ADP
abrj-305	49	23	high	high	ADJ
abrj-305	49	24	environmental	environmental	ADJ
abrj-305	49	25	impact	impact	NOUN
abrj-305	49	26	or	or	CCONJ
abrj-305	49	27	labor	labor	NOUN
abrj-305	49	28	-	-	PUNCT
abrj-305	49	29	intensive	intensive	ADJ
abrj-305	49	30	operations	operation	NOUN
abrj-305	49	31	(	(	PUNCT
abrj-305	49	32	friede	friede	NOUN
abrj-305	49	33	et	et	PROPN
abrj-305	49	34	al	al	PROPN
abrj-305	49	35	.	.	PROPN
abrj-305	49	36	,	,	PUNCT
abrj-305	49	37	2015	2015	NUM
abrj-305	49	38	;	;	PUNCT
abrj-305	49	39	eccles	eccles	PROPN
abrj-305	49	40	&	&	CCONJ
abrj-305	49	41	klimenko	klimenko	PROPN
abrj-305	49	42	,	,	PUNCT
abrj-305	49	43	2019	2019	NUM
abrj-305	49	44	)	)	PUNCT
abrj-305	49	45	.	.	PUNCT
abrj-305	50	1	in	in	ADP
abrj-305	50	2	contrast	contrast	NOUN
abrj-305	50	3	,	,	PUNCT
abrj-305	50	4	fixed	fix	VERB
abrj-305	50	5	-	-	PUNCT
abrj-305	50	6	income	income	NOUN
abrj-305	50	7	funds	fund	NOUN
abrj-305	50	8	may	may	AUX
abrj-305	50	9	face	face	VERB
abrj-305	50	10	greater	great	ADJ
abrj-305	50	11	governance	governance	NOUN
abrj-305	50	12	risks	risk	NOUN
abrj-305	50	13	,	,	PUNCT
abrj-305	50	14	particularly	particularly	ADV
abrj-305	50	15	in	in	ADP
abrj-305	50	16	assessing	assess	VERB
abrj-305	50	17	the	the	DET
abrj-305	50	18	creditworthiness	creditworthiness	NOUN
abrj-305	50	19	of	of	ADP
abrj-305	50	20	issuers	issuer	NOUN
abrj-305	50	21	with	with	ADP
abrj-305	50	22	varying	vary	VERB
abrj-305	50	23	esg	esg	NOUN
abrj-305	50	24	practices	practice	NOUN
abrj-305	50	25	(	(	PUNCT
abrj-305	50	26	bauer	bauer	PROPN
abrj-305	50	27	&	&	CCONJ
abrj-305	50	28	hann	hann	PROPN
abrj-305	50	29	,	,	PUNCT
abrj-305	50	30	2010	2010	NUM
abrj-305	50	31	;	;	PUNCT
abrj-305	50	32	chava	chava	PROPN
abrj-305	50	33	,	,	PUNCT
abrj-305	50	34	2014	2014	NUM
abrj-305	50	35	)	)	PUNCT
abrj-305	50	36	.	.	PUNCT
abrj-305	51	1	recent	recent	ADJ
abrj-305	51	2	studies	study	NOUN
abrj-305	51	3	indicate	indicate	VERB
abrj-305	51	4	that	that	SCONJ
abrj-305	51	5	bond	bond	NOUN
abrj-305	51	6	funds	fund	NOUN
abrj-305	51	7	are	be	AUX
abrj-305	51	8	increasingly	increasingly	ADV
abrj-305	51	9	incorporating	incorporate	VERB
abrj-305	51	10	esg	esg	NOUN
abrj-305	51	11	criteria	criterion	NOUN
abrj-305	51	12	,	,	PUNCT
abrj-305	51	13	particularly	particularly	ADV
abrj-305	51	14	in	in	ADP
abrj-305	51	15	evaluating	evaluate	VERB
abrj-305	51	16	environmental	environmental	ADJ
abrj-305	51	17	externalities	externality	NOUN
abrj-305	51	18	and	and	CCONJ
abrj-305	51	19	corporate	corporate	ADJ
abrj-305	51	20	governance	governance	NOUN
abrj-305	51	21	(	(	PUNCT
abrj-305	51	22	henke	henke	PROPN
abrj-305	51	23	,	,	PUNCT
abrj-305	51	24	2016	2016	NUM
abrj-305	51	25	;	;	PUNCT
abrj-305	51	26	el	el	PROPN
abrj-305	51	27	ghoul	ghoul	PROPN
abrj-305	51	28	&	&	CCONJ
abrj-305	51	29	karoui	karoui	NOUN
abrj-305	51	30	,	,	PUNCT
abrj-305	51	31	2021	2021	NUM
abrj-305	51	32	)	)	PUNCT
abrj-305	51	33	.	.	PUNCT
abrj-305	52	1	however	however	ADV
abrj-305	52	2	,	,	PUNCT
abrj-305	52	3	the	the	DET
abrj-305	52	4	extent	extent	NOUN
abrj-305	52	5	to	to	PART
abrj-305	52	6	which	which	PRON
abrj-305	52	7	these	these	DET
abrj-305	52	8	practices	practice	NOUN
abrj-305	52	9	mitigate	mitigate	VERB
abrj-305	52	10	esg	esg	NOUN
abrj-305	52	11	risks	risk	NOUN
abrj-305	52	12	across	across	ADP
abrj-305	52	13	different	different	ADJ
abrj-305	52	14	fund	fund	NOUN
abrj-305	52	15	categories	category	NOUN
abrj-305	52	16	remains	remain	VERB
abrj-305	52	17	an	an	DET
abrj-305	52	18	open	open	ADJ
abrj-305	52	19	question	question	NOUN
abrj-305	52	20	.	.	PUNCT
abrj-305	53	1	investment	investment	NOUN
abrj-305	53	2	area	area	NOUN
abrj-305	53	3	and	and	CCONJ
abrj-305	53	4	esg	esg	NOUN
abrj-305	53	5	risks	risk	NOUN
abrj-305	53	6	.	.	PUNCT
abrj-305	54	1	geographic	geographic	ADJ
abrj-305	54	2	considerations	consideration	NOUN
abrj-305	54	3	play	play	VERB
abrj-305	54	4	a	a	DET
abrj-305	54	5	pivotal	pivotal	ADJ
abrj-305	54	6	role	role	NOUN
abrj-305	54	7	in	in	ADP
abrj-305	54	8	shaping	shape	VERB
abrj-305	54	9	esg	esg	NOUN
abrj-305	54	10	risk	risk	NOUN
abrj-305	54	11	profiles	profile	NOUN
abrj-305	54	12	.	.	PUNCT
abrj-305	55	1	funds	fund	NOUN
abrj-305	55	2	investing	invest	VERB
abrj-305	55	3	in	in	ADP
abrj-305	55	4	emerging	emerge	VERB
abrj-305	55	5	markets	market	NOUN
abrj-305	55	6	often	often	ADV
abrj-305	55	7	encounter	encounter	VERB
abrj-305	55	8	higher	high	ADJ
abrj-305	55	9	esg	esg	NOUN
abrj-305	55	10	risks	risk	NOUN
abrj-305	55	11	due	due	ADJ
abrj-305	55	12	to	to	ADP
abrj-305	55	13	weaker	weak	ADJ
abrj-305	55	14	regulatory	regulatory	ADJ
abrj-305	55	15	frameworks	framework	NOUN
abrj-305	55	16	,	,	PUNCT
abrj-305	55	17	limited	limited	ADJ
abrj-305	55	18	enforcement	enforcement	NOUN
abrj-305	55	19	,	,	PUNCT
abrj-305	55	20	and	and	CCONJ
abrj-305	55	21	varying	vary	VERB
abrj-305	55	22	corporate	corporate	ADJ
abrj-305	55	23	practices	practice	NOUN
abrj-305	55	24	(	(	PUNCT
abrj-305	55	25	liang	liang	PROPN
abrj-305	55	26	&	&	CCONJ
abrj-305	55	27	renneboog	renneboog	PROPN
abrj-305	55	28	,	,	PUNCT
abrj-305	55	29	2017	2017	NUM
abrj-305	55	30	;	;	PUNCT
abrj-305	55	31	dyck	dyck	PROPN
abrj-305	55	32	et	et	PROPN
abrj-305	55	33	al	al	PROPN
abrj-305	55	34	.	.	PROPN
abrj-305	55	35	,	,	PUNCT
abrj-305	55	36	2019	2019	NUM
abrj-305	55	37	)	)	PUNCT
abrj-305	55	38	.	.	PUNCT
abrj-305	56	1	conversely	conversely	ADV
abrj-305	56	2	,	,	PUNCT
abrj-305	56	3	european	european	ADJ
abrj-305	56	4	funds	fund	NOUN
abrj-305	56	5	are	be	AUX
abrj-305	56	6	generally	generally	ADV
abrj-305	56	7	more	more	ADV
abrj-305	56	8	advanced	advanced	ADJ
abrj-305	56	9	in	in	ADP
abrj-305	56	10	esg	esg	NOUN
abrj-305	56	11	integration	integration	NOUN
abrj-305	56	12	,	,	PUNCT
abrj-305	56	13	reflecting	reflect	VERB
abrj-305	56	14	the	the	DET
abrj-305	56	15	region	region	NOUN
abrj-305	56	16	's	's	PART
abrj-305	56	17	stringent	stringent	ADJ
abrj-305	56	18	regulations	regulation	NOUN
abrj-305	56	19	and	and	CCONJ
abrj-305	56	20	investor	investor	NOUN
abrj-305	56	21	demand	demand	NOUN
abrj-305	56	22	for	for	ADP
abrj-305	56	23	sustainable	sustainable	ADJ
abrj-305	56	24	practices	practice	NOUN
abrj-305	56	25	(	(	PUNCT
abrj-305	56	26	ferreira	ferreira	PROPN
abrj-305	56	27	et	et	PROPN
abrj-305	56	28	al	al	PROPN
abrj-305	56	29	.	.	PROPN
abrj-305	56	30	,	,	PUNCT
abrj-305	56	31	2018	2018	NUM
abrj-305	56	32	)	)	PUNCT
abrj-305	56	33	.	.	PUNCT
abrj-305	57	1	studies	study	NOUN
abrj-305	57	2	by	by	ADP
abrj-305	57	3	krueger	krueger	PROPN
abrj-305	57	4	et	et	PROPN
abrj-305	57	5	al	al	PROPN
abrj-305	57	6	.	.	PROPN
abrj-305	57	7	(	(	PUNCT
abrj-305	57	8	2020	2020	NUM
abrj-305	57	9	)	)	PUNCT
abrj-305	57	10	and	and	CCONJ
abrj-305	57	11	berg	berg	PROPN
abrj-305	57	12	et	et	PROPN
abrj-305	57	13	al	al	PROPN
abrj-305	57	14	.	.	PROPN
abrj-305	57	15	(	(	PUNCT
abrj-305	57	16	2022	2022	NUM
abrj-305	57	17	)	)	PUNCT
abrj-305	57	18	highlight	highlight	VERB
abrj-305	57	19	significant	significant	ADJ
abrj-305	57	20	regional	regional	ADJ
abrj-305	57	21	variations	variation	NOUN
abrj-305	57	22	in	in	ADP
abrj-305	57	23	esg	esg	PROPN
abrj-305	57	24	implementation	implementation	NOUN
abrj-305	57	25	,	,	PUNCT
abrj-305	57	26	underscoring	underscore	VERB
abrj-305	57	27	the	the	DET
abrj-305	57	28	need	need	NOUN
abrj-305	57	29	for	for	ADP
abrj-305	57	30	context	context	NOUN
abrj-305	57	31	-	-	PUNCT
abrj-305	57	32	specific	specific	ADJ
abrj-305	57	33	strategies	strategy	NOUN
abrj-305	57	34	.	.	PUNCT
abrj-305	58	1	despite	despite	SCONJ
abrj-305	58	2	these	these	DET
abrj-305	58	3	findings	finding	NOUN
abrj-305	58	4	,	,	PUNCT
abrj-305	58	5	the	the	DET
abrj-305	58	6	interaction	interaction	NOUN
abrj-305	58	7	between	between	ADP
abrj-305	58	8	investment	investment	NOUN
abrj-305	58	9	area	area	NOUN
abrj-305	58	10	and	and	CCONJ
abrj-305	58	11	other	other	ADJ
abrj-305	58	12	fund	fund	NOUN
abrj-305	58	13	characteristics	characteristic	NOUN
abrj-305	58	14	,	,	PUNCT
abrj-305	58	15	such	such	ADJ
abrj-305	58	16	as	as	ADP
abrj-305	58	17	size	size	NOUN
abrj-305	58	18	and	and	CCONJ
abrj-305	58	19	category	category	NOUN
abrj-305	58	20	,	,	PUNCT
abrj-305	58	21	remains	remain	VERB
abrj-305	58	22	underexplored	underexplored	ADJ
abrj-305	58	23	.	.	PUNCT
abrj-305	59	1	while	while	SCONJ
abrj-305	59	2	the	the	DET
abrj-305	59	3	existing	exist	VERB
abrj-305	59	4	research	research	NOUN
abrj-305	59	5	provides	provide	VERB
abrj-305	59	6	valuable	valuable	ADJ
abrj-305	59	7	insights	insight	NOUN
abrj-305	59	8	into	into	ADP
abrj-305	59	9	the	the	DET
abrj-305	59	10	relationship	relationship	NOUN
abrj-305	59	11	between	between	ADP
abrj-305	59	12	esg	esg	NOUN
abrj-305	59	13	factors	factor	NOUN
abrj-305	59	14	and	and	CCONJ
abrj-305	59	15	investment	investment	NOUN
abrj-305	59	16	performance	performance	NOUN
abrj-305	59	17	,	,	PUNCT
abrj-305	59	18	several	several	ADJ
abrj-305	59	19	gaps	gap	NOUN
abrj-305	59	20	persist	persist	VERB
abrj-305	59	21	.	.	PUNCT
abrj-305	60	1	first	first	ADV
abrj-305	60	2	,	,	PUNCT
abrj-305	60	3	the	the	DET
abrj-305	60	4	interplay	interplay	NOUN
abrj-305	60	5	between	between	ADP
abrj-305	60	6	fund	fund	NOUN
abrj-305	60	7	size	size	NOUN
abrj-305	60	8	,	,	PUNCT
abrj-305	60	9	category	category	NOUN
abrj-305	60	10	,	,	PUNCT
abrj-305	60	11	and	and	CCONJ
abrj-305	60	12	investment	investment	NOUN
abrj-305	60	13	area	area	NOUN
abrj-305	60	14	in	in	ADP
abrj-305	60	15	determining	determine	VERB
abrj-305	60	16	esg	esg	PROPN
abrj-305	60	17	risks	risk	NOUN
abrj-305	60	18	is	be	AUX
abrj-305	60	19	not	not	PART
abrj-305	60	20	well	well	ADV
abrj-305	60	21	understood	understand	VERB
abrj-305	60	22	.	.	PUNCT
abrj-305	61	1	second	second	ADJ
abrj-305	61	2	,	,	PUNCT
abrj-305	61	3	most	most	ADJ
abrj-305	61	4	studies	study	NOUN
abrj-305	61	5	focus	focus	VERB
abrj-305	61	6	on	on	ADP
abrj-305	61	7	developed	develop	VERB
abrj-305	61	8	markets	market	NOUN
abrj-305	61	9	,	,	PUNCT
abrj-305	61	10	with	with	ADP
abrj-305	61	11	limited	limited	ADJ
abrj-305	61	12	attention	attention	NOUN
abrj-305	61	13	to	to	ADP
abrj-305	61	14	emerging	emerge	VERB
abrj-305	61	15	economies	economy	NOUN
abrj-305	61	16	and	and	CCONJ
abrj-305	61	17	their	their	PRON
abrj-305	61	18	unique	unique	ADJ
abrj-305	61	19	esg	esg	NOUN
abrj-305	61	20	challenges	challenge	NOUN
abrj-305	61	21	(	(	PUNCT
abrj-305	61	22	liang	liang	PROPN
abrj-305	61	23	&	&	CCONJ
abrj-305	61	24	renneboog	renneboog	PROPN
abrj-305	61	25	,	,	PUNCT
abrj-305	61	26	2017	2017	NUM
abrj-305	61	27	)	)	PUNCT
abrj-305	61	28	.	.	PUNCT
abrj-305	62	1	finally	finally	ADV
abrj-305	62	2	,	,	PUNCT
abrj-305	62	3	the	the	DET
abrj-305	62	4	role	role	NOUN
abrj-305	62	5	of	of	ADP
abrj-305	62	6	fund	fund	NOUN
abrj-305	62	7	management	management	NOUN
abrj-305	62	8	practices	practice	NOUN
abrj-305	62	9	,	,	PUNCT
abrj-305	62	10	such	such	ADJ
abrj-305	62	11	as	as	ADP
abrj-305	62	12	active	active	ADJ
abrj-305	62	13	ownership	ownership	NOUN
abrj-305	62	14	and	and	CCONJ
abrj-305	62	15	engagement	engagement	NOUN
abrj-305	62	16	,	,	PUNCT
abrj-305	62	17	in	in	ADP
abrj-305	62	18	mitigating	mitigate	VERB
abrj-305	62	19	esg	esg	NOUN
abrj-305	62	20	risks	risk	NOUN
abrj-305	62	21	warrants	warrant	NOUN
abrj-305	62	22	further	further	ADJ
abrj-305	62	23	investigation	investigation	NOUN
abrj-305	62	24	(	(	PUNCT
abrj-305	62	25	dimson	dimson	NOUN
abrj-305	62	26	et	et	NOUN
abrj-305	62	27	al	al	PROPN
abrj-305	62	28	.	.	PROPN
abrj-305	62	29	,	,	PUNCT
abrj-305	62	30	2015	2015	NUM
abrj-305	62	31	;	;	PUNCT
abrj-305	62	32	bauer	bauer	PROPN
abrj-305	62	33	&	&	CCONJ
abrj-305	62	34	hann	hann	PROPN
abrj-305	62	35	,	,	PUNCT
abrj-305	62	36	2010	2010	NUM
abrj-305	62	37	)	)	PUNCT
abrj-305	62	38	.	.	PUNCT
abrj-305	63	1	this	this	DET
abrj-305	63	2	literature	literature	NOUN
abrj-305	63	3	review	review	NOUN
abrj-305	63	4	underscores	underscore	VERB
abrj-305	63	5	the	the	DET
abrj-305	63	6	growing	grow	VERB
abrj-305	63	7	importance	importance	NOUN
abrj-305	63	8	of	of	ADP
abrj-305	63	9	esg	esg	PROPN
abrj-305	63	10	factors	factor	NOUN
abrj-305	63	11	in	in	ADP
abrj-305	63	12	investment	investment	NOUN
abrj-305	63	13	decision	decision	NOUN
abrj-305	63	14	-	-	PUNCT
abrj-305	63	15	making	making	NOUN
abrj-305	63	16	and	and	CCONJ
abrj-305	63	17	the	the	DET
abrj-305	63	18	need	need	NOUN
abrj-305	63	19	to	to	PART
abrj-305	63	20	understand	understand	VERB
abrj-305	63	21	the	the	DET
abrj-305	63	22	influence	influence	NOUN
abrj-305	63	23	of	of	ADP
abrj-305	63	24	fund	fund	NOUN
abrj-305	63	25	characteristics	characteristic	NOUN
abrj-305	63	26	on	on	ADP
abrj-305	63	27	esg	esg	PROPN
abrj-305	63	28	risks	risk	NOUN
abrj-305	63	29	.	.	PUNCT
abrj-305	64	1	by	by	ADP
abrj-305	64	2	addressing	address	VERB
abrj-305	64	3	the	the	DET
abrj-305	64	4	identified	identify	VERB
abrj-305	64	5	gaps	gap	NOUN
abrj-305	64	6	,	,	PUNCT
abrj-305	64	7	this	this	DET
abrj-305	64	8	study	study	NOUN
abrj-305	64	9	aims	aim	VERB
abrj-305	64	10	to	to	PART
abrj-305	64	11	contribute	contribute	VERB
abrj-305	64	12	to	to	ADP
abrj-305	64	13	the	the	DET
abrj-305	64	14	academic	academic	ADJ
abrj-305	64	15	discourse	discourse	NOUN
abrj-305	64	16	on	on	ADP
abrj-305	64	17	sustainable	sustainable	ADJ
abrj-305	64	18	finance	finance	NOUN
abrj-305	64	19	and	and	CCONJ
abrj-305	64	20	provide	provide	VERB
abrj-305	64	21	actionable	actionable	ADJ
abrj-305	64	22	insights	insight	NOUN
abrj-305	64	23	for	for	ADP
abrj-305	64	24	investors	investor	NOUN
abrj-305	64	25	,	,	PUNCT
abrj-305	64	26	fund	fund	NOUN
abrj-305	64	27	managers	manager	NOUN
abrj-305	64	28	,	,	PUNCT
abrj-305	64	29	and	and	CCONJ
abrj-305	64	30	policymakers	policymaker	NOUN
abrj-305	64	31	.	.	PUNCT
abrj-305	65	1	3	3	X
abrj-305	65	2	.	.	X
abrj-305	65	3	data	datum	NOUN
abrj-305	65	4	and	and	CCONJ
abrj-305	65	5	methodology	methodology	NOUN
abrj-305	65	6	the	the	DET
abrj-305	65	7	data	datum	NOUN
abrj-305	65	8	for	for	ADP
abrj-305	65	9	this	this	DET
abrj-305	65	10	study	study	NOUN
abrj-305	65	11	was	be	AUX
abrj-305	65	12	sourced	source	VERB
abrj-305	65	13	from	from	ADP
abrj-305	65	14	morningstar	morningstar	PROPN
abrj-305	65	15	direct	direct	PROPN
abrj-305	65	16	,	,	PUNCT
abrj-305	65	17	a	a	DET
abrj-305	65	18	globally	globally	ADV
abrj-305	65	19	financial	financial	ADJ
abrj-305	65	20	analysis	analysis	NOUN
abrj-305	65	21	platform	platform	NOUN
abrj-305	65	22	renowned	renowne	VERB
abrj-305	65	23	for	for	ADP
abrj-305	65	24	its	its	PRON
abrj-305	65	25	comprehensive	comprehensive	ADJ
abrj-305	65	26	coverage	coverage	NOUN
abrj-305	65	27	of	of	ADP
abrj-305	65	28	sustainable	sustainable	ADJ
abrj-305	65	29	investment	investment	NOUN
abrj-305	65	30	funds	fund	NOUN
abrj-305	65	31	and	and	CCONJ
abrj-305	65	32	standardized	standardized	ADJ
abrj-305	65	33	esg	esg	NOUN
abrj-305	65	34	metrics	metric	NOUN
abrj-305	65	35	.	.	PUNCT
abrj-305	66	1	morningstar	morningstar	PROPN
abrj-305	66	2	direct	direct	PROPN
abrj-305	66	3	was	be	AUX
abrj-305	66	4	selected	select	VERB
abrj-305	66	5	due	due	ADP
abrj-305	66	6	to	to	ADP
abrj-305	66	7	its	its	PRON
abrj-305	66	8	database	database	NOUN
abrj-305	66	9	,	,	PUNCT
abrj-305	66	10	which	which	PRON
abrj-305	66	11	aligns	align	VERB
abrj-305	66	12	with	with	ADP
abrj-305	66	13	the	the	DET
abrj-305	66	14	stringent	stringent	ADJ
abrj-305	66	15	regulatory	regulatory	ADJ
abrj-305	66	16	and	and	CCONJ
abrj-305	66	17	sustainability	sustainability	NOUN
abrj-305	66	18	standards	standard	NOUN
abrj-305	66	19	prevalent	prevalent	ADJ
abrj-305	66	20	in	in	ADP
abrj-305	66	21	the	the	DET
abrj-305	66	22	european	european	ADJ
abrj-305	66	23	market	market	NOUN
abrj-305	66	24	.	.	PUNCT
abrj-305	67	1	the	the	DET
abrj-305	67	2	dataset	dataset	NOUN
abrj-305	67	3	provides	provide	VERB
abrj-305	67	4	a	a	DET
abrj-305	67	5	detailed	detailed	ADJ
abrj-305	67	6	view	view	NOUN
abrj-305	67	7	of	of	ADP
abrj-305	67	8	fund	fund	NOUN
abrj-305	67	9	characteristics	characteristic	NOUN
abrj-305	67	10	and	and	CCONJ
abrj-305	67	11	esg	esg	NOUN
abrj-305	67	12	performance	performance	NOUN
abrj-305	67	13	,	,	PUNCT
abrj-305	67	14	making	make	VERB
abrj-305	67	15	it	it	PRON
abrj-305	67	16	an	an	DET
abrj-305	67	17	resource	resource	NOUN
abrj-305	67	18	for	for	ADP
abrj-305	67	19	analyzing	analyze	VERB
abrj-305	67	20	the	the	DET
abrj-305	67	21	relationship	relationship	NOUN
abrj-305	67	22	between	between	ADP
abrj-305	67	23	fund	fund	NOUN
abrj-305	67	24	attributes	attribute	NOUN
abrj-305	67	25	and	and	CCONJ
abrj-305	67	26	esg	esg	NOUN
abrj-305	67	27	risks	risk	NOUN
abrj-305	67	28	.	.	PUNCT
abrj-305	68	1	the	the	DET
abrj-305	68	2	final	final	ADJ
abrj-305	68	3	dataset	dataset	NOUN
abrj-305	68	4	comprises	comprise	VERB
abrj-305	68	5	1,737	1,737	NUM
abrj-305	68	6	sustainable	sustainable	ADJ
abrj-305	68	7	investment	investment	NOUN
abrj-305	68	8	funds	fund	NOUN
abrj-305	68	9	,	,	PUNCT
abrj-305	68	10	classified	classify	VERB
abrj-305	68	11	under	under	ADP
abrj-305	68	12	the	the	DET
abrj-305	68	13	sustainable	sustainable	ADJ
abrj-305	68	14	finance	finance	NOUN
abrj-305	68	15	disclosure	disclosure	NOUN
abrj-305	68	16	regulation	regulation	NOUN
abrj-305	68	17	(	(	PUNCT
abrj-305	68	18	sfdr	sfdr	NOUN
abrj-305	68	19	)	)	PUNCT
abrj-305	68	20	.	.	PUNCT
abrj-305	69	1	of	of	ADP
abrj-305	69	2	these	these	PRON
abrj-305	69	3	,	,	PUNCT
abrj-305	69	4	1,635	1,635	NUM
abrj-305	69	5	funds	fund	NOUN
abrj-305	69	6	(	(	PUNCT
abrj-305	69	7	94.1	94.1	NUM
abrj-305	69	8	%	%	NOUN
abrj-305	69	9	)	)	PUNCT
abrj-305	69	10	are	be	AUX
abrj-305	69	11	categorized	categorize	VERB
abrj-305	69	12	under	under	ADP
abrj-305	69	13	article	article	NOUN
abrj-305	69	14	8	8	NUM
abrj-305	69	15	,	,	PUNCT
abrj-305	69	16	which	which	PRON
abrj-305	69	17	promotes	promote	VERB
abrj-305	69	18	environmental	environmental	ADJ
abrj-305	69	19	or	or	CCONJ
abrj-305	69	20	social	social	ADJ
abrj-305	69	21	characteristics	characteristic	NOUN
abrj-305	69	22	,	,	PUNCT
abrj-305	69	23	while	while	SCONJ
abrj-305	69	24	102	102	NUM
abrj-305	69	25	funds	fund	NOUN
abrj-305	69	26	(	(	PUNCT
abrj-305	69	27	5.9	5.9	NUM
abrj-305	69	28	%	%	NOUN
abrj-305	69	29	)	)	PUNCT
abrj-305	69	30	fall	fall	VERB
abrj-305	69	31	under	under	ADP
abrj-305	69	32	article	article	NOUN
abrj-305	69	33	9	9	NUM
abrj-305	69	34	,	,	PUNCT
abrj-305	69	35	targeting	target	VERB
abrj-305	69	36	specific	specific	ADJ
abrj-305	69	37	sustainable	sustainable	ADJ
abrj-305	69	38	investment	investment	NOUN
abrj-305	69	39	objectives	objective	NOUN
abrj-305	69	40	.	.	PUNCT
abrj-305	70	1	the	the	DET
abrj-305	70	2	sample	sample	NOUN
abrj-305	70	3	spans	span	VERB
abrj-305	70	4	31	31	NUM
abrj-305	70	5	geographical	geographical	ADJ
abrj-305	70	6	areas	area	NOUN
abrj-305	70	7	,	,	PUNCT
abrj-305	70	8	offering	offer	VERB
abrj-305	70	9	a	a	DET
abrj-305	70	10	diverse	diverse	ADJ
abrj-305	70	11	representation	representation	NOUN
abrj-305	70	12	of	of	ADP
abrj-305	70	13	both	both	PRON
abrj-305	70	14	developed	develop	VERB
abrj-305	70	15	and	and	CCONJ
abrj-305	70	16	emerging	emerge	VERB
abrj-305	70	17	markets	market	NOUN
abrj-305	70	18	.	.	PUNCT
abrj-305	71	1	specifically	specifically	ADV
abrj-305	71	2	,	,	PUNCT
abrj-305	71	3	the	the	DET
abrj-305	71	4	dataset	dataset	NOUN
abrj-305	71	5	includes	include	VERB
abrj-305	71	6	887	887	NUM
abrj-305	71	7	global	global	ADJ
abrj-305	71	8	funds	fund	NOUN
abrj-305	71	9	(	(	PUNCT
abrj-305	71	10	51.1	51.1	NUM
abrj-305	71	11	%	%	NOUN
abrj-305	71	12	)	)	PUNCT
abrj-305	71	13	,	,	PUNCT
abrj-305	71	14	415	415	NUM
abrj-305	71	15	european	european	ADJ
abrj-305	71	16	funds	fund	NOUN
abrj-305	71	17	(	(	PUNCT
abrj-305	71	18	23.9	23.9	NUM
abrj-305	71	19	%	%	NOUN
abrj-305	71	20	)	)	PUNCT
abrj-305	71	21	,	,	PUNCT
abrj-305	71	22	161	161	NUM
abrj-305	71	23	united	united	PROPN
abrj-305	71	24	states	states	PROPN
abrj-305	71	25	funds	fund	NOUN
abrj-305	71	26	(	(	PUNCT
abrj-305	71	27	9.3	9.3	NUM
abrj-305	71	28	%	%	NOUN
abrj-305	71	29	)	)	PUNCT
abrj-305	71	30	,	,	PUNCT
abrj-305	71	31	124	124	NUM
abrj-305	71	32	global	global	ADJ
abrj-305	71	33	emerging	emerge	VERB
abrj-305	71	34	market	market	NOUN
abrj-305	71	35	funds	fund	NOUN
abrj-305	71	36	(	(	PUNCT
abrj-305	71	37	7.1	7.1	NUM
abrj-305	71	38	%	%	NOUN
abrj-305	71	39	)	)	PUNCT
abrj-305	71	40	,	,	PUNCT
abrj-305	71	41	and	and	CCONJ
abrj-305	71	42	65	65	NUM
abrj-305	71	43	asian	asian	ADJ
abrj-305	71	44	funds	fund	NOUN
abrj-305	71	45	(	(	PUNCT
abrj-305	71	46	3.7	3.7	NUM
abrj-305	71	47	%	%	NOUN
abrj-305	71	48	)	)	PUNCT
abrj-305	71	49	,	,	PUNCT
abrj-305	71	50	with	with	ADP
abrj-305	71	51	the	the	DET
abrj-305	71	52	remaining	remain	VERB
abrj-305	71	53	85	85	NUM
abrj-305	71	54	funds	fund	NOUN
abrj-305	71	55	(	(	PUNCT
abrj-305	71	56	4.9	4.9	NUM
abrj-305	71	57	%	%	NOUN
abrj-305	71	58	)	)	PUNCT
abrj-305	71	59	distributed	distribute	VERB
abrj-305	71	60	across	across	ADP
abrj-305	71	61	other	other	ADJ
abrj-305	71	62	regions	region	NOUN
abrj-305	71	63	.	.	PUNCT
abrj-305	72	1	in	in	ADP
abrj-305	72	2	terms	term	NOUN
abrj-305	72	3	of	of	ADP
abrj-305	72	4	asset	asset	NOUN
abrj-305	72	5	class	class	NOUN
abrj-305	72	6	composition	composition	NOUN
abrj-305	72	7	,	,	PUNCT
abrj-305	72	8	the	the	DET
abrj-305	72	9	sample	sample	NOUN
abrj-305	72	10	is	be	AUX
abrj-305	72	11	diverse	diverse	ADJ
abrj-305	72	12	,	,	PUNCT
abrj-305	72	13	encompassing	encompass	VERB
abrj-305	72	14	686	686	NUM
abrj-305	72	15	equity	equity	NOUN
abrj-305	72	16	funds	fund	NOUN
abrj-305	72	17	(	(	PUNCT
abrj-305	72	18	43.2	43.2	NUM
abrj-305	72	19	%	%	NOUN
abrj-305	72	20	)	)	PUNCT
abrj-305	72	21	,	,	PUNCT
abrj-305	72	22	549	549	NUM
abrj-305	72	23	fixedincome	fixedincome	NOUN
abrj-305	72	24	funds	fund	NOUN
abrj-305	72	25	(	(	PUNCT
abrj-305	72	26	34.6	34.6	NUM
abrj-305	72	27	%	%	NOUN
abrj-305	72	28	)	)	PUNCT
abrj-305	72	29	,	,	PUNCT
abrj-305	72	30	267	267	NUM
abrj-305	72	31	mixed	mix	VERB
abrj-305	72	32	-	-	PUNCT
abrj-305	72	33	asset	asset	NOUN
abrj-305	72	34	funds	fund	NOUN
abrj-305	72	35	(	(	PUNCT
abrj-305	72	36	16.8	16.8	NUM
abrj-305	72	37	%	%	NOUN
abrj-305	72	38	)	)	PUNCT
abrj-305	72	39	,	,	PUNCT
abrj-305	72	40	and	and	CCONJ
abrj-305	72	41	91	91	NUM
abrj-305	72	42	money	money	NOUN
abrj-305	72	43	market	market	NOUN
abrj-305	72	44	funds	fund	NOUN
abrj-305	72	45	(	(	PUNCT
abrj-305	72	46	5.4	5.4	NUM
abrj-305	72	47	%	%	NOUN
abrj-305	72	48	)	)	PUNCT
abrj-305	72	49	.	.	PUNCT
abrj-305	73	1	this	this	DET
abrj-305	73	2	variety	variety	NOUN
abrj-305	73	3	allows	allow	VERB
abrj-305	73	4	for	for	ADP
abrj-305	73	5	a	a	DET
abrj-305	73	6	comprehensive	comprehensive	ADJ
abrj-305	73	7	analysis	analysis	NOUN
abrj-305	73	8	of	of	ADP
abrj-305	73	9	how	how	SCONJ
abrj-305	73	10	different	different	ADJ
abrj-305	73	11	investment	investment	NOUN
abrj-305	73	12	strategies	strategy	NOUN
abrj-305	73	13	address	address	VERB
abrj-305	73	14	esg	esg	NOUN
abrj-305	73	15	risks	risk	NOUN
abrj-305	73	16	.	.	PUNCT
abrj-305	74	1	the	the	DET
abrj-305	74	2	dataset	dataset	NOUN
abrj-305	74	3	includes	include	VERB
abrj-305	74	4	97	97	NUM
abrj-305	74	5	variables	variable	NOUN
abrj-305	74	6	,	,	PUNCT
abrj-305	74	7	capturing	capture	VERB
abrj-305	74	8	both	both	CCONJ
abrj-305	74	9	numerical	numerical	ADJ
abrj-305	74	10	and	and	CCONJ
abrj-305	74	11	categorical	categorical	ADJ
abrj-305	74	12	indicators	indicator	NOUN
abrj-305	74	13	essential	essential	ADJ
abrj-305	74	14	for	for	ADP
abrj-305	74	15	esg	esg	PROPN
abrj-305	74	16	risk	risk	NOUN
abrj-305	74	17	analysis	analysis	NOUN
abrj-305	74	18	.	.	PUNCT
abrj-305	75	1	key	key	ADJ
abrj-305	75	2	numerical	numerical	ADJ
abrj-305	75	3	variables	variable	NOUN
abrj-305	75	4	include	include	VERB
abrj-305	75	5	financial	financial	ADJ
abrj-305	75	6	performance	performance	NOUN
abrj-305	75	7	metrics	metric	NOUN
abrj-305	75	8	and	and	CCONJ
abrj-305	75	9	portfolio	portfolio	NOUN
abrj-305	75	10	size	size	NOUN
abrj-305	75	11	,	,	PUNCT
abrj-305	75	12	which	which	PRON
abrj-305	75	13	provide	provide	VERB
abrj-305	75	14	insights	insight	NOUN
abrj-305	75	15	into	into	ADP
abrj-305	75	16	the	the	DET
abrj-305	75	17	impact	impact	NOUN
abrj-305	75	18	of	of	ADP
abrj-305	75	19	esg	esg	PROPN
abrj-305	75	20	asian	asian	PROPN
abrj-305	75	21	business	business	PROPN
abrj-305	75	22	research	research	NOUN
abrj-305	75	23	journal	journal	NOUN
abrj-305	75	24	,	,	PUNCT
abrj-305	75	25	2025	2025	NUM
abrj-305	75	26	,	,	PUNCT
abrj-305	75	27	10(3	10(3	NUM
abrj-305	75	28	):	):	PUNCT
abrj-305	75	29	33	33	NUM
abrj-305	75	30	-	-	SYM
abrj-305	75	31	44	44	NUM
abrj-305	75	32	35	35	NUM
abrj-305	75	33	©	©	PROPN
abrj-305	75	34	2025	2025	NUM
abrj-305	75	35	by	by	ADP
abrj-305	75	36	the	the	DET
abrj-305	75	37	authors	author	NOUN
abrj-305	75	38	;	;	PUNCT
abrj-305	75	39	licensee	licensee	NOUN
abrj-305	75	40	eastern	eastern	ADJ
abrj-305	75	41	centre	centre	NOUN
abrj-305	75	42	of	of	ADP
abrj-305	75	43	science	science	NOUN
abrj-305	75	44	and	and	CCONJ
abrj-305	75	45	education	education	NOUN
abrj-305	75	46	,	,	PUNCT
abrj-305	75	47	usa	usa	PROPN
abrj-305	75	48	policies	policy	NOUN
abrj-305	75	49	on	on	ADP
abrj-305	75	50	fund	fund	NOUN
abrj-305	75	51	outcomes	outcome	NOUN
abrj-305	75	52	.	.	PUNCT
abrj-305	76	1	categorical	categorical	ADJ
abrj-305	76	2	variables	variable	NOUN
abrj-305	76	3	offer	offer	VERB
abrj-305	76	4	segmentation	segmentation	NOUN
abrj-305	76	5	based	base	VERB
abrj-305	76	6	on	on	ADP
abrj-305	76	7	geographical	geographical	ADJ
abrj-305	76	8	focus	focus	NOUN
abrj-305	76	9	,	,	PUNCT
abrj-305	76	10	sustainability	sustainability	NOUN
abrj-305	76	11	classification	classification	NOUN
abrj-305	76	12	,	,	PUNCT
abrj-305	76	13	and	and	CCONJ
abrj-305	76	14	sector	sector	NOUN
abrj-305	76	15	exclusion	exclusion	NOUN
abrj-305	76	16	policies	policy	NOUN
abrj-305	76	17	.	.	PUNCT
abrj-305	77	1	the	the	DET
abrj-305	77	2	assessment	assessment	NOUN
abrj-305	77	3	of	of	ADP
abrj-305	77	4	environmental	environmental	ADJ
abrj-305	77	5	,	,	PUNCT
abrj-305	77	6	social	social	ADJ
abrj-305	77	7	,	,	PUNCT
abrj-305	77	8	and	and	CCONJ
abrj-305	77	9	governance	governance	NOUN
abrj-305	77	10	(	(	PUNCT
abrj-305	77	11	esg	esg	NOUN
abrj-305	77	12	)	)	PUNCT
abrj-305	77	13	risks	risk	NOUN
abrj-305	77	14	in	in	ADP
abrj-305	77	15	funds	fund	NOUN
abrj-305	77	16	by	by	ADP
abrj-305	77	17	morningstar	morningstar	PROPN
abrj-305	77	18	direct	direct	PROPN
abrj-305	77	19	is	be	AUX
abrj-305	77	20	facilitated	facilitate	VERB
abrj-305	77	21	through	through	ADP
abrj-305	77	22	a	a	DET
abrj-305	77	23	structured	structured	ADJ
abrj-305	77	24	framework	framework	NOUN
abrj-305	77	25	that	that	PRON
abrj-305	77	26	leverages	leverage	VERB
abrj-305	77	27	sustainalytics	sustainalytic	NOUN
abrj-305	77	28	'	'	PART
abrj-305	77	29	esg	esg	NOUN
abrj-305	77	30	risk	risk	NOUN
abrj-305	77	31	ratings	rating	NOUN
abrj-305	77	32	.	.	PUNCT
abrj-305	78	1	this	this	DET
abrj-305	78	2	rating	rating	NOUN
abrj-305	78	3	system	system	NOUN
abrj-305	78	4	evaluates	evaluate	VERB
abrj-305	78	5	a	a	DET
abrj-305	78	6	company	company	NOUN
abrj-305	78	7	's	's	PART
abrj-305	78	8	exposure	exposure	NOUN
abrj-305	78	9	to	to	ADP
abrj-305	78	10	esg	esg	NOUN
abrj-305	78	11	risks	risk	NOUN
abrj-305	78	12	and	and	CCONJ
abrj-305	78	13	its	its	PRON
abrj-305	78	14	ability	ability	NOUN
abrj-305	78	15	to	to	PART
abrj-305	78	16	manage	manage	VERB
abrj-305	78	17	them	they	PRON
abrj-305	78	18	,	,	PUNCT
abrj-305	78	19	with	with	ADP
abrj-305	78	20	scores	score	NOUN
abrj-305	78	21	ranging	range	VERB
abrj-305	78	22	from	from	ADP
abrj-305	78	23	0	0	NUM
abrj-305	78	24	to	to	ADP
abrj-305	78	25	100	100	NUM
abrj-305	78	26	.	.	PUNCT
abrj-305	79	1	lower	low	ADJ
abrj-305	79	2	scores	score	NOUN
abrj-305	79	3	indicate	indicate	VERB
abrj-305	79	4	better	well	ADJ
abrj-305	79	5	management	management	NOUN
abrj-305	79	6	of	of	ADP
abrj-305	79	7	these	these	DET
abrj-305	79	8	risks	risk	NOUN
abrj-305	79	9	.	.	PUNCT
abrj-305	80	1	the	the	DET
abrj-305	80	2	sustainalytics	sustainalytic	NOUN
abrj-305	80	3	esg	esg	PROPN
abrj-305	80	4	risk	risk	NOUN
abrj-305	80	5	rating	rating	NOUN
abrj-305	80	6	is	be	AUX
abrj-305	80	7	categorized	categorize	VERB
abrj-305	80	8	into	into	ADP
abrj-305	80	9	several	several	ADJ
abrj-305	80	10	risk	risk	NOUN
abrj-305	80	11	levels	level	NOUN
abrj-305	80	12	:	:	PUNCT
abrj-305	80	13	negligible	negligible	ADJ
abrj-305	80	14	(	(	PUNCT
abrj-305	80	15	0	0	NUM
abrj-305	80	16	-	-	SYM
abrj-305	80	17	10	10	NUM
abrj-305	80	18	)	)	PUNCT
abrj-305	80	19	,	,	PUNCT
abrj-305	80	20	low	low	ADJ
abrj-305	80	21	(	(	PUNCT
abrj-305	80	22	11	11	NUM
abrj-305	80	23	-	-	SYM
abrj-305	80	24	20	20	NUM
abrj-305	80	25	)	)	PUNCT
abrj-305	80	26	,	,	PUNCT
abrj-305	80	27	medium	medium	NOUN
abrj-305	80	28	(	(	PUNCT
abrj-305	80	29	21	21	NUM
abrj-305	80	30	-	-	SYM
abrj-305	80	31	30	30	NUM
abrj-305	80	32	)	)	PUNCT
abrj-305	80	33	,	,	PUNCT
abrj-305	80	34	high	high	ADJ
abrj-305	80	35	(	(	PUNCT
abrj-305	80	36	31	31	NUM
abrj-305	80	37	-	-	SYM
abrj-305	80	38	40	40	NUM
abrj-305	80	39	)	)	PUNCT
abrj-305	80	40	,	,	PUNCT
abrj-305	80	41	very	very	ADV
abrj-305	80	42	high	high	ADJ
abrj-305	80	43	(	(	PUNCT
abrj-305	80	44	41	41	NUM
abrj-305	80	45	-	-	SYM
abrj-305	80	46	50	50	NUM
abrj-305	80	47	)	)	PUNCT
abrj-305	80	48	,	,	PUNCT
abrj-305	80	49	and	and	CCONJ
abrj-305	80	50	severe	severe	ADJ
abrj-305	80	51	(	(	PUNCT
abrj-305	80	52	51100	51100	NUM
abrj-305	80	53	)	)	PUNCT
abrj-305	80	54	.	.	PUNCT
abrj-305	81	1	this	this	DET
abrj-305	81	2	risk	risk	NOUN
abrj-305	81	3	assessment	assessment	NOUN
abrj-305	81	4	is	be	AUX
abrj-305	81	5	then	then	ADV
abrj-305	81	6	used	use	VERB
abrj-305	81	7	to	to	PART
abrj-305	81	8	inform	inform	VERB
abrj-305	81	9	the	the	DET
abrj-305	81	10	morningstar	morningstar	NOUN
abrj-305	81	11	sustainability	sustainability	NOUN
abrj-305	81	12	rating	rating	NOUN
abrj-305	81	13	,	,	PUNCT
abrj-305	81	14	which	which	PRON
abrj-305	81	15	is	be	AUX
abrj-305	81	16	expressed	express	VERB
abrj-305	81	17	as	as	ADP
abrj-305	81	18	a	a	DET
abrj-305	81	19	number	number	NOUN
abrj-305	81	20	of	of	ADP
abrj-305	81	21	globes	globe	NOUN
abrj-305	81	22	(	(	PUNCT
abrj-305	81	23	1	1	NUM
abrj-305	81	24	to	to	ADP
abrj-305	81	25	5	5	NUM
abrj-305	81	26	)	)	PUNCT
abrj-305	81	27	.	.	PUNCT
abrj-305	82	1	the	the	DET
abrj-305	82	2	rating	rating	NOUN
abrj-305	82	3	reflects	reflect	VERB
abrj-305	82	4	how	how	SCONJ
abrj-305	82	5	well	well	ADV
abrj-305	82	6	a	a	DET
abrj-305	82	7	fund	fund	NOUN
abrj-305	82	8	manages	manage	VERB
abrj-305	82	9	financially	financially	ADV
abrj-305	82	10	material	material	ADJ
abrj-305	82	11	esg	esg	NOUN
abrj-305	82	12	risks	risk	NOUN
abrj-305	82	13	compared	compare	VERB
abrj-305	82	14	to	to	ADP
abrj-305	82	15	its	its	PRON
abrj-305	82	16	peers	peer	NOUN
abrj-305	82	17	in	in	ADP
abrj-305	82	18	the	the	DET
abrj-305	82	19	same	same	ADJ
abrj-305	82	20	morningstar	morningstar	PROPN
abrj-305	82	21	global	global	ADJ
abrj-305	82	22	category	category	NOUN
abrj-305	82	23	.	.	PUNCT
abrj-305	83	1	the	the	DET
abrj-305	83	2	distribution	distribution	NOUN
abrj-305	83	3	of	of	ADP
abrj-305	83	4	these	these	DET
abrj-305	83	5	globes	globe	NOUN
abrj-305	83	6	is	be	AUX
abrj-305	83	7	as	as	SCONJ
abrj-305	83	8	follows	follow	VERB
abrj-305	83	9	:	:	PUNCT
abrj-305	83	10	one	one	NUM
abrj-305	83	11	globe	globe	NOUN
abrj-305	83	12	for	for	ADP
abrj-305	83	13	the	the	DET
abrj-305	83	14	lowest	low	ADJ
abrj-305	83	15	10	10	NUM
abrj-305	83	16	%	%	NOUN
abrj-305	83	17	of	of	ADP
abrj-305	83	18	funds	fund	NOUN
abrj-305	83	19	,	,	PUNCT
abrj-305	83	20	two	two	NUM
abrj-305	83	21	globes	globe	NOUN
abrj-305	83	22	for	for	ADP
abrj-305	83	23	the	the	DET
abrj-305	83	24	next	next	ADJ
abrj-305	83	25	22.5	22.5	NUM
abrj-305	83	26	%	%	NOUN
abrj-305	83	27	,	,	PUNCT
abrj-305	83	28	three	three	NUM
abrj-305	83	29	globes	globe	NOUN
abrj-305	83	30	for	for	ADP
abrj-305	83	31	the	the	DET
abrj-305	83	32	middle	middle	ADJ
abrj-305	83	33	35	35	NUM
abrj-305	83	34	%	%	NOUN
abrj-305	83	35	,	,	PUNCT
abrj-305	83	36	four	four	NUM
abrj-305	83	37	globes	globe	NOUN
abrj-305	83	38	for	for	ADP
abrj-305	83	39	the	the	DET
abrj-305	83	40	next	next	ADJ
abrj-305	83	41	22.5	22.5	NUM
abrj-305	83	42	%	%	NOUN
abrj-305	83	43	,	,	PUNCT
abrj-305	83	44	and	and	CCONJ
abrj-305	83	45	five	five	NUM
abrj-305	83	46	globes	globe	NOUN
abrj-305	83	47	for	for	ADP
abrj-305	83	48	the	the	DET
abrj-305	83	49	top	top	ADJ
abrj-305	83	50	10	10	NUM
abrj-305	83	51	%	%	NOUN
abrj-305	83	52	.	.	PUNCT
abrj-305	84	1	the	the	DET
abrj-305	84	2	esg	esg	PROPN
abrj-305	84	3	risk	risk	NOUN
abrj-305	84	4	assessment	assessment	NOUN
abrj-305	84	5	itself	itself	PRON
abrj-305	84	6	is	be	AUX
abrj-305	84	7	composed	compose	VERB
abrj-305	84	8	of	of	ADP
abrj-305	84	9	three	three	NUM
abrj-305	84	10	primary	primary	ADJ
abrj-305	84	11	components	component	NOUN
abrj-305	84	12	:	:	PUNCT
abrj-305	84	13	environmental	environmental	ADJ
abrj-305	84	14	(	(	PUNCT
abrj-305	84	15	e	e	NOUN
abrj-305	84	16	)	)	PUNCT
abrj-305	84	17	,	,	PUNCT
abrj-305	84	18	social	social	ADJ
abrj-305	84	19	(	(	PUNCT
abrj-305	84	20	s	s	NOUN
abrj-305	84	21	)	)	PUNCT
abrj-305	84	22	,	,	PUNCT
abrj-305	84	23	and	and	CCONJ
abrj-305	84	24	governance	governance	NOUN
abrj-305	84	25	(	(	PUNCT
abrj-305	84	26	g	g	NOUN
abrj-305	84	27	)	)	PUNCT
abrj-305	84	28	risks	risk	NOUN
abrj-305	84	29	.	.	PUNCT
abrj-305	85	1	environmental	environmental	ADJ
abrj-305	85	2	risks	risk	NOUN
abrj-305	85	3	are	be	AUX
abrj-305	85	4	evaluated	evaluate	VERB
abrj-305	85	5	based	base	VERB
abrj-305	85	6	on	on	ADP
abrj-305	85	7	factors	factor	NOUN
abrj-305	85	8	such	such	ADJ
abrj-305	85	9	as	as	ADP
abrj-305	85	10	carbon	carbon	NOUN
abrj-305	85	11	emissions	emission	NOUN
abrj-305	85	12	and	and	CCONJ
abrj-305	85	13	resource	resource	NOUN
abrj-305	85	14	depletion	depletion	NOUN
abrj-305	85	15	,	,	PUNCT
abrj-305	85	16	with	with	ADP
abrj-305	85	17	the	the	DET
abrj-305	85	18	weight	weight	NOUN
abrj-305	85	19	given	give	VERB
abrj-305	85	20	to	to	ADP
abrj-305	85	21	these	these	DET
abrj-305	85	22	factors	factor	NOUN
abrj-305	85	23	varying	vary	VERB
abrj-305	85	24	by	by	ADP
abrj-305	85	25	industry	industry	NOUN
abrj-305	85	26	.	.	PUNCT
abrj-305	86	1	social	social	ADJ
abrj-305	86	2	risks	risk	NOUN
abrj-305	86	3	include	include	VERB
abrj-305	86	4	labor	labor	NOUN
abrj-305	86	5	practices	practice	NOUN
abrj-305	86	6	and	and	CCONJ
abrj-305	86	7	community	community	NOUN
abrj-305	86	8	relations	relation	NOUN
abrj-305	86	9	,	,	PUNCT
abrj-305	86	10	also	also	ADV
abrj-305	86	11	industry	industry	NOUN
abrj-305	86	12	-	-	PUNCT
abrj-305	86	13	specific	specific	ADJ
abrj-305	86	14	.	.	PUNCT
abrj-305	87	1	governance	governance	NOUN
abrj-305	87	2	risks	risk	NOUN
abrj-305	87	3	focus	focus	VERB
abrj-305	87	4	on	on	ADP
abrj-305	87	5	corporate	corporate	ADJ
abrj-305	87	6	oversight	oversight	NOUN
abrj-305	87	7	,	,	PUNCT
abrj-305	87	8	board	board	NOUN
abrj-305	87	9	independence	independence	NOUN
abrj-305	87	10	,	,	PUNCT
abrj-305	87	11	and	and	CCONJ
abrj-305	87	12	shareholder	shareholder	NOUN
abrj-305	87	13	rights	right	NOUN
abrj-305	87	14	,	,	PUNCT
abrj-305	87	15	which	which	PRON
abrj-305	87	16	are	be	AUX
abrj-305	87	17	crucial	crucial	ADJ
abrj-305	87	18	across	across	ADP
abrj-305	87	19	industries	industry	NOUN
abrj-305	87	20	for	for	ADP
abrj-305	87	21	maintaining	maintain	VERB
abrj-305	87	22	financial	financial	ADJ
abrj-305	87	23	stability	stability	NOUN
abrj-305	87	24	and	and	CCONJ
abrj-305	87	25	investor	investor	NOUN
abrj-305	87	26	confidence	confidence	NOUN
abrj-305	87	27	.	.	PUNCT
abrj-305	88	1	while	while	SCONJ
abrj-305	88	2	morningstar	morningstar	PROPN
abrj-305	88	3	does	do	AUX
abrj-305	88	4	not	not	PART
abrj-305	88	5	explicitly	explicitly	ADV
abrj-305	88	6	use	use	VERB
abrj-305	88	7	a	a	DET
abrj-305	88	8	points	point	NOUN
abrj-305	88	9	system	system	NOUN
abrj-305	88	10	for	for	ADP
abrj-305	88	11	esg	esg	NOUN
abrj-305	88	12	risks	risk	NOUN
abrj-305	88	13	,	,	PUNCT
abrj-305	88	14	one	one	PRON
abrj-305	88	15	could	could	AUX
abrj-305	88	16	conceptualize	conceptualize	VERB
abrj-305	88	17	it	it	PRON
abrj-305	88	18	as	as	ADP
abrj-305	88	19	allocating	allocate	VERB
abrj-305	88	20	points	point	NOUN
abrj-305	88	21	across	across	ADP
abrj-305	88	22	these	these	DET
abrj-305	88	23	components	component	NOUN
abrj-305	88	24	.	.	PUNCT
abrj-305	89	1	for	for	ADP
abrj-305	89	2	instance	instance	NOUN
abrj-305	89	3	,	,	PUNCT
abrj-305	89	4	in	in	ADP
abrj-305	89	5	a	a	DET
abrj-305	89	6	hypothetical	hypothetical	ADJ
abrj-305	89	7	scenario	scenario	NOUN
abrj-305	89	8	,	,	PUNCT
abrj-305	89	9	environmental	environmental	ADJ
abrj-305	89	10	risks	risk	NOUN
abrj-305	89	11	might	might	AUX
abrj-305	89	12	contribute	contribute	VERB
abrj-305	89	13	30	30	NUM
abrj-305	89	14	points	point	NOUN
abrj-305	89	15	,	,	PUNCT
abrj-305	89	16	social	social	ADJ
abrj-305	89	17	risks	risk	NOUN
abrj-305	89	18	another	another	DET
abrj-305	89	19	30	30	NUM
abrj-305	89	20	points	point	NOUN
abrj-305	89	21	,	,	PUNCT
abrj-305	89	22	and	and	CCONJ
abrj-305	89	23	governance	governance	NOUN
abrj-305	89	24	risks	risk	NOUN
abrj-305	89	25	40	40	NUM
abrj-305	89	26	points	point	NOUN
abrj-305	89	27	,	,	PUNCT
abrj-305	89	28	totaling	total	VERB
abrj-305	89	29	100	100	NUM
abrj-305	89	30	points	point	NOUN
abrj-305	89	31	.	.	PUNCT
abrj-305	90	1	however	however	ADV
abrj-305	90	2	,	,	PUNCT
abrj-305	90	3	the	the	DET
abrj-305	90	4	actual	actual	ADJ
abrj-305	90	5	method	method	NOUN
abrj-305	90	6	involves	involve	VERB
abrj-305	90	7	comparing	compare	VERB
abrj-305	90	8	a	a	DET
abrj-305	90	9	fund	fund	NOUN
abrj-305	90	10	's	's	PART
abrj-305	90	11	esg	esg	NOUN
abrj-305	90	12	risk	risk	NOUN
abrj-305	90	13	profile	profile	NOUN
abrj-305	90	14	to	to	ADP
abrj-305	90	15	its	its	PRON
abrj-305	90	16	peers	peer	NOUN
abrj-305	90	17	within	within	ADP
abrj-305	90	18	the	the	DET
abrj-305	90	19	same	same	ADJ
abrj-305	90	20	category	category	NOUN
abrj-305	90	21	,	,	PUNCT
abrj-305	90	22	rather	rather	ADV
abrj-305	90	23	than	than	ADP
abrj-305	90	24	using	use	VERB
abrj-305	90	25	a	a	DET
abrj-305	90	26	fixed	fix	VERB
abrj-305	90	27	points	point	NOUN
abrj-305	90	28	system	system	NOUN
abrj-305	90	29	.	.	PUNCT
abrj-305	91	1	in	in	ADP
abrj-305	91	2	practice	practice	NOUN
abrj-305	91	3	,	,	PUNCT
abrj-305	91	4	the	the	DET
abrj-305	91	5	morningstar	morningstar	NOUN
abrj-305	91	6	sustainability	sustainability	NOUN
abrj-305	91	7	rating	rating	NOUN
abrj-305	91	8	is	be	AUX
abrj-305	91	9	determined	determine	VERB
abrj-305	91	10	by	by	ADP
abrj-305	91	11	assessing	assess	VERB
abrj-305	91	12	the	the	DET
abrj-305	91	13	esg	esg	NOUN
abrj-305	91	14	risks	risk	NOUN
abrj-305	91	15	associated	associate	VERB
abrj-305	91	16	with	with	ADP
abrj-305	91	17	both	both	CCONJ
abrj-305	91	18	corporate	corporate	ADJ
abrj-305	91	19	and	and	CCONJ
abrj-305	91	20	sovereign	sovereign	ADJ
abrj-305	91	21	entities	entity	NOUN
abrj-305	91	22	in	in	ADP
abrj-305	91	23	a	a	DET
abrj-305	91	24	fund	fund	NOUN
abrj-305	91	25	's	's	PART
abrj-305	91	26	portfolio	portfolio	NOUN
abrj-305	91	27	.	.	PUNCT
abrj-305	92	1	at	at	ADV
abrj-305	92	2	least	least	ADV
abrj-305	92	3	67	67	NUM
abrj-305	92	4	%	%	NOUN
abrj-305	92	5	of	of	ADP
abrj-305	92	6	a	a	DET
abrj-305	92	7	fund	fund	NOUN
abrj-305	92	8	's	's	PART
abrj-305	92	9	assets	asset	NOUN
abrj-305	92	10	under	under	ADP
abrj-305	92	11	management	management	NOUN
abrj-305	92	12	must	must	AUX
abrj-305	92	13	have	have	VERB
abrj-305	92	14	an	an	DET
abrj-305	92	15	esg	esg	NOUN
abrj-305	92	16	score	score	NOUN
abrj-305	92	17	for	for	SCONJ
abrj-305	92	18	it	it	PRON
abrj-305	92	19	to	to	PART
abrj-305	92	20	receive	receive	VERB
abrj-305	92	21	a	a	DET
abrj-305	92	22	morningstar	morningstar	NOUN
abrj-305	92	23	sustainability	sustainability	NOUN
abrj-305	92	24	rating	rating	NOUN
abrj-305	92	25	.	.	PUNCT
abrj-305	93	1	this	this	DET
abrj-305	93	2	rating	rating	NOUN
abrj-305	93	3	serves	serve	VERB
abrj-305	93	4	as	as	ADP
abrj-305	93	5	a	a	DET
abrj-305	93	6	relative	relative	ADJ
abrj-305	93	7	measure	measure	NOUN
abrj-305	93	8	,	,	PUNCT
abrj-305	93	9	comparing	compare	VERB
abrj-305	93	10	a	a	DET
abrj-305	93	11	fund	fund	NOUN
abrj-305	93	12	's	's	PART
abrj-305	93	13	esg	esg	NOUN
abrj-305	93	14	risk	risk	NOUN
abrj-305	93	15	management	management	NOUN
abrj-305	93	16	to	to	ADP
abrj-305	93	17	that	that	PRON
abrj-305	93	18	of	of	ADP
abrj-305	93	19	its	its	PRON
abrj-305	93	20	peers	peer	NOUN
abrj-305	93	21	,	,	PUNCT
abrj-305	93	22	rather	rather	ADV
abrj-305	93	23	than	than	ADP
abrj-305	93	24	an	an	DET
abrj-305	93	25	absolute	absolute	ADJ
abrj-305	93	26	assessment	assessment	NOUN
abrj-305	93	27	of	of	ADP
abrj-305	93	28	its	its	PRON
abrj-305	93	29	esg	esg	NOUN
abrj-305	93	30	performance	performance	NOUN
abrj-305	93	31	.	.	PUNCT
abrj-305	94	1	this	this	DET
abrj-305	94	2	approach	approach	NOUN
abrj-305	94	3	provides	provide	VERB
abrj-305	94	4	investors	investor	NOUN
abrj-305	94	5	with	with	ADP
abrj-305	94	6	a	a	DET
abrj-305	94	7	clear	clear	ADJ
abrj-305	94	8	indication	indication	NOUN
abrj-305	94	9	of	of	ADP
abrj-305	94	10	how	how	SCONJ
abrj-305	94	11	well	well	ADV
abrj-305	94	12	a	a	DET
abrj-305	94	13	fund	fund	NOUN
abrj-305	94	14	manages	manage	VERB
abrj-305	94	15	esg	esg	NOUN
abrj-305	94	16	risks	risk	NOUN
abrj-305	94	17	relative	relative	ADJ
abrj-305	94	18	to	to	ADP
abrj-305	94	19	its	its	PRON
abrj-305	94	20	industry	industry	NOUN
abrj-305	94	21	peers	peer	NOUN
abrj-305	94	22	.	.	PUNCT
abrj-305	95	1	the	the	DET
abrj-305	95	2	dataset	dataset	NOUN
abrj-305	95	3	also	also	ADV
abrj-305	95	4	incorporates	incorporate	VERB
abrj-305	95	5	detailed	detailed	ADJ
abrj-305	95	6	information	information	NOUN
abrj-305	95	7	on	on	ADP
abrj-305	95	8	sector	sector	NOUN
abrj-305	95	9	exclusions	exclusion	NOUN
abrj-305	95	10	,	,	PUNCT
abrj-305	95	11	which	which	PRON
abrj-305	95	12	are	be	AUX
abrj-305	95	13	critical	critical	ADJ
abrj-305	95	14	for	for	ADP
abrj-305	95	15	assessing	assess	VERB
abrj-305	95	16	the	the	DET
abrj-305	95	17	alignment	alignment	NOUN
abrj-305	95	18	of	of	ADP
abrj-305	95	19	funds	fund	NOUN
abrj-305	95	20	with	with	ADP
abrj-305	95	21	their	their	PRON
abrj-305	95	22	sustainability	sustainability	NOUN
abrj-305	95	23	objectives	objective	NOUN
abrj-305	95	24	.	.	PUNCT
abrj-305	96	1	these	these	DET
abrj-305	96	2	exclusions	exclusion	NOUN
abrj-305	96	3	cover	cover	VERB
abrj-305	96	4	sectors	sector	NOUN
abrj-305	96	5	such	such	ADJ
abrj-305	96	6	as	as	ADP
abrj-305	96	7	military	military	ADJ
abrj-305	96	8	contracts	contract	NOUN
abrj-305	96	9	,	,	PUNCT
abrj-305	96	10	small	small	ADJ
abrj-305	96	11	arms	arm	NOUN
abrj-305	96	12	,	,	PUNCT
abrj-305	96	13	nuclear	nuclear	ADJ
abrj-305	96	14	energy	energy	NOUN
abrj-305	96	15	,	,	PUNCT
abrj-305	96	16	palm	palm	NOUN
abrj-305	96	17	oil	oil	NOUN
abrj-305	96	18	,	,	PUNCT
abrj-305	96	19	pesticides	pesticide	NOUN
abrj-305	96	20	,	,	PUNCT
abrj-305	96	21	tobacco	tobacco	NOUN
abrj-305	96	22	,	,	PUNCT
abrj-305	96	23	thermal	thermal	ADJ
abrj-305	96	24	coal	coal	NOUN
abrj-305	96	25	,	,	PUNCT
abrj-305	96	26	and	and	CCONJ
abrj-305	96	27	fossil	fossil	ADJ
abrj-305	96	28	fuels	fuel	NOUN
abrj-305	96	29	.	.	PUNCT
abrj-305	97	1	by	by	ADP
abrj-305	97	2	analyzing	analyze	VERB
abrj-305	97	3	these	these	DET
abrj-305	97	4	exclusion	exclusion	NOUN
abrj-305	97	5	policies	policy	NOUN
abrj-305	97	6	,	,	PUNCT
abrj-305	97	7	the	the	DET
abrj-305	97	8	study	study	NOUN
abrj-305	97	9	evaluates	evaluate	VERB
abrj-305	97	10	how	how	SCONJ
abrj-305	97	11	such	such	ADJ
abrj-305	97	12	decisions	decision	NOUN
abrj-305	97	13	influence	influence	NOUN
abrj-305	97	14	esg	esg	NOUN
abrj-305	97	15	risk	risk	NOUN
abrj-305	97	16	scores	score	NOUN
abrj-305	97	17	and	and	CCONJ
abrj-305	97	18	overall	overall	ADJ
abrj-305	97	19	fund	fund	NOUN
abrj-305	97	20	performance	performance	NOUN
abrj-305	97	21	.	.	PUNCT
abrj-305	98	1	4	4	X
abrj-305	98	2	.	.	NOUN
abrj-305	98	3	results	result	NOUN
abrj-305	98	4	and	and	CCONJ
abrj-305	98	5	analysis	analysis	NOUN
abrj-305	98	6	the	the	DET
abrj-305	98	7	variable	variable	ADJ
abrj-305	98	8	,	,	PUNCT
abrj-305	98	9	fund	fund	NOUN
abrj-305	98	10	size	size	NOUN
abrj-305	98	11	,	,	PUNCT
abrj-305	98	12	is	be	AUX
abrj-305	98	13	a	a	DET
abrj-305	98	14	quantitative	quantitative	ADJ
abrj-305	98	15	and	and	CCONJ
abrj-305	98	16	continuous	continuous	ADJ
abrj-305	98	17	variable	variable	NOUN
abrj-305	98	18	;	;	PUNCT
abrj-305	98	19	we	we	PRON
abrj-305	98	20	will	will	AUX
abrj-305	98	21	treat	treat	VERB
abrj-305	98	22	it	it	PRON
abrj-305	98	23	as	as	ADP
abrj-305	98	24	a	a	DET
abrj-305	98	25	covariate	covariate	NOUN
abrj-305	98	26	,	,	PUNCT
abrj-305	98	27	that	that	ADV
abrj-305	98	28	is	is	ADV
abrj-305	98	29	,	,	PUNCT
abrj-305	98	30	control	control	VERB
abrj-305	98	31	its	its	PRON
abrj-305	98	32	influence	influence	NOUN
abrj-305	98	33	and	and	CCONJ
abrj-305	98	34	isolate	isolate	VERB
abrj-305	98	35	its	its	PRON
abrj-305	98	36	effect	effect	NOUN
abrj-305	98	37	so	so	SCONJ
abrj-305	98	38	that	that	SCONJ
abrj-305	98	39	it	it	PRON
abrj-305	98	40	does	do	AUX
abrj-305	98	41	not	not	PART
abrj-305	98	42	contaminate	contaminate	VERB
abrj-305	98	43	the	the	DET
abrj-305	98	44	conclusions	conclusion	NOUN
abrj-305	98	45	we	we	PRON
abrj-305	98	46	may	may	AUX
abrj-305	98	47	obtain	obtain	VERB
abrj-305	98	48	about	about	ADP
abrj-305	98	49	the	the	DET
abrj-305	98	50	remaining	remain	VERB
abrj-305	98	51	variables	variable	NOUN
abrj-305	98	52	.	.	PUNCT
abrj-305	99	1	the	the	DET
abrj-305	99	2	remaining	remain	VERB
abrj-305	99	3	variables	variable	NOUN
abrj-305	99	4	:	:	PUNCT
abrj-305	99	5	fund	fund	NOUN
abrj-305	99	6	category	category	NOUN
abrj-305	99	7	and	and	CCONJ
abrj-305	99	8	investment	investment	NOUN
abrj-305	99	9	area	area	NOUN
abrj-305	99	10	,	,	PUNCT
abrj-305	99	11	are	be	AUX
abrj-305	99	12	qualitative	qualitative	ADJ
abrj-305	99	13	variables	variable	NOUN
abrj-305	99	14	.	.	PUNCT
abrj-305	100	1	the	the	DET
abrj-305	100	2	aim	aim	NOUN
abrj-305	100	3	is	be	AUX
abrj-305	100	4	to	to	PART
abrj-305	100	5	verify	verify	VERB
abrj-305	100	6	whether	whether	SCONJ
abrj-305	100	7	their	their	PRON
abrj-305	100	8	presence	presence	NOUN
abrj-305	100	9	or	or	CCONJ
abrj-305	100	10	absence	absence	NOUN
abrj-305	100	11	significantly	significantly	ADV
abrj-305	100	12	affects	affect	VERB
abrj-305	100	13	the	the	DET
abrj-305	100	14	average	average	ADJ
abrj-305	100	15	environmental	environmental	ADJ
abrj-305	100	16	,	,	PUNCT
abrj-305	100	17	social	social	ADJ
abrj-305	100	18	,	,	PUNCT
abrj-305	100	19	and	and	CCONJ
abrj-305	100	20	governance	governance	NOUN
abrj-305	100	21	risks	risk	NOUN
abrj-305	100	22	.	.	PUNCT
abrj-305	101	1	the	the	DET
abrj-305	101	2	two	two	NUM
abrj-305	101	3	options	option	NOUN
abrj-305	101	4	considered	consider	VERB
abrj-305	101	5	for	for	ADP
abrj-305	101	6	conducting	conduct	VERB
abrj-305	101	7	the	the	DET
abrj-305	101	8	analysis	analysis	NOUN
abrj-305	101	9	were	be	AUX
abrj-305	101	10	ancova	ancova	NOUN
abrj-305	101	11	and	and	CCONJ
abrj-305	101	12	regression	regression	VERB
abrj-305	101	13	analysis	analysis	NOUN
abrj-305	101	14	;	;	PUNCT
abrj-305	101	15	ultimately	ultimately	ADV
abrj-305	101	16	,	,	PUNCT
abrj-305	101	17	we	we	PRON
abrj-305	101	18	opted	opt	VERB
abrj-305	101	19	for	for	ADP
abrj-305	101	20	the	the	DET
abrj-305	101	21	latter	latter	ADJ
abrj-305	101	22	methodology	methodology	NOUN
abrj-305	101	23	.	.	PUNCT
abrj-305	102	1	the	the	DET
abrj-305	102	2	reasons	reason	NOUN
abrj-305	102	3	for	for	ADP
abrj-305	102	4	this	this	DET
abrj-305	102	5	decision	decision	NOUN
abrj-305	102	6	are	be	AUX
abrj-305	102	7	several	several	ADJ
abrj-305	102	8	,	,	PUNCT
abrj-305	102	9	but	but	CCONJ
abrj-305	102	10	essentially	essentially	ADV
abrj-305	102	11	regression	regression	VERB
abrj-305	102	12	analysis	analysis	NOUN
abrj-305	102	13	allows	allow	VERB
abrj-305	102	14	for	for	ADP
abrj-305	102	15	a	a	DET
abrj-305	102	16	more	more	ADV
abrj-305	102	17	appropriate	appropriate	ADJ
abrj-305	102	18	treatment	treatment	NOUN
abrj-305	102	19	of	of	ADP
abrj-305	102	20	potential	potential	ADJ
abrj-305	102	21	problems	problem	NOUN
abrj-305	102	22	such	such	ADJ
abrj-305	102	23	as	as	ADP
abrj-305	102	24	heteroscedasticity	heteroscedasticity	NOUN
abrj-305	102	25	and	and	CCONJ
abrj-305	102	26	multicollinearity	multicollinearity	NOUN
abrj-305	102	27	,	,	PUNCT
abrj-305	102	28	in	in	ADP
abrj-305	102	29	addition	addition	NOUN
abrj-305	102	30	to	to	ADP
abrj-305	102	31	being	be	AUX
abrj-305	102	32	able	able	ADJ
abrj-305	102	33	to	to	PART
abrj-305	102	34	construct	construct	VERB
abrj-305	102	35	interactions	interaction	NOUN
abrj-305	102	36	between	between	ADP
abrj-305	102	37	variables	variable	NOUN
abrj-305	102	38	.	.	PUNCT
abrj-305	103	1	the	the	DET
abrj-305	103	2	first	first	ADJ
abrj-305	103	3	step	step	NOUN
abrj-305	103	4	has	have	AUX
abrj-305	103	5	been	be	AUX
abrj-305	103	6	to	to	PART
abrj-305	103	7	estimate	estimate	VERB
abrj-305	103	8	the	the	DET
abrj-305	103	9	relationship	relationship	NOUN
abrj-305	103	10	between	between	ADP
abrj-305	103	11	government	government	NOUN
abrj-305	103	12	risk	risk	NOUN
abrj-305	103	13	and	and	CCONJ
abrj-305	103	14	the	the	DET
abrj-305	103	15	explanatory	explanatory	ADJ
abrj-305	103	16	variables	variable	NOUN
abrj-305	103	17	.	.	PUNCT
abrj-305	104	1	once	once	SCONJ
abrj-305	104	2	the	the	DET
abrj-305	104	3	model	model	NOUN
abrj-305	104	4	was	be	AUX
abrj-305	104	5	formulated	formulate	VERB
abrj-305	104	6	,	,	PUNCT
abrj-305	104	7	interactions	interaction	NOUN
abrj-305	104	8	between	between	ADP
abrj-305	104	9	the	the	DET
abrj-305	104	10	variables	variable	NOUN
abrj-305	104	11	were	be	AUX
abrj-305	104	12	sought	seek	VERB
abrj-305	104	13	to	to	PART
abrj-305	104	14	determine	determine	VERB
abrj-305	104	15	if	if	SCONJ
abrj-305	104	16	any	any	DET
abrj-305	104	17	combination	combination	NOUN
abrj-305	104	18	among	among	ADP
abrj-305	104	19	them	they	PRON
abrj-305	104	20	produces	produce	VERB
abrj-305	104	21	an	an	DET
abrj-305	104	22	effect	effect	NOUN
abrj-305	104	23	greater	great	ADJ
abrj-305	104	24	than	than	ADP
abrj-305	104	25	the	the	DET
abrj-305	104	26	sum	sum	NOUN
abrj-305	104	27	of	of	ADP
abrj-305	104	28	the	the	DET
abrj-305	104	29	individual	individual	NOUN
abrj-305	104	30	effects.the	effects.the	DET
abrj-305	104	31	heteroscedasticity	heteroscedasticity	NOUN
abrj-305	104	32	tests	test	NOUN
abrj-305	104	33	indicate	indicate	VERB
abrj-305	104	34	the	the	DET
abrj-305	104	35	presence	presence	NOUN
abrj-305	104	36	of	of	ADP
abrj-305	104	37	this	this	DET
abrj-305	104	38	problem	problem	NOUN
abrj-305	104	39	in	in	ADP
abrj-305	104	40	the	the	DET
abrj-305	104	41	estimated	estimate	VERB
abrj-305	104	42	model	model	NOUN
abrj-305	104	43	.	.	PUNCT
abrj-305	105	1	in	in	ADP
abrj-305	105	2	all	all	DET
abrj-305	105	3	the	the	DET
abrj-305	105	4	tests	test	NOUN
abrj-305	105	5	used	use	VERB
abrj-305	105	6	,	,	PUNCT
abrj-305	105	7	the	the	DET
abrj-305	105	8	null	null	ADJ
abrj-305	105	9	hypothesis	hypothesis	NOUN
abrj-305	105	10	is	be	AUX
abrj-305	105	11	rejected	reject	VERB
abrj-305	105	12	,	,	PUNCT
abrj-305	105	13	admitting	admit	VERB
abrj-305	105	14	the	the	DET
abrj-305	105	15	presence	presence	NOUN
abrj-305	105	16	of	of	ADP
abrj-305	105	17	heteroscedasticity	heteroscedasticity	NOUN
abrj-305	105	18	.	.	PUNCT
abrj-305	106	1	it	it	PRON
abrj-305	106	2	was	be	AUX
abrj-305	106	3	resolved	resolve	VERB
abrj-305	106	4	with	with	ADP
abrj-305	106	5	robust	robust	ADJ
abrj-305	106	6	estimators	estimator	NOUN
abrj-305	106	7	and	and	CCONJ
abrj-305	106	8	elimination	elimination	NOUN
abrj-305	106	9	of	of	ADP
abrj-305	106	10	non	non	ADJ
abrj-305	106	11	-	-	ADJ
abrj-305	106	12	significant	significant	ADJ
abrj-305	106	13	variables	variable	NOUN
abrj-305	106	14	.	.	PUNCT
abrj-305	107	1	table	table	NOUN
abrj-305	107	2	1	1	NUM
abrj-305	107	3	.	.	PUNCT
abrj-305	107	4	estimation	estimation	NOUN
abrj-305	107	5	relationship	relationship	NOUN
abrj-305	107	6	between	between	ADP
abrj-305	107	7	government	government	NOUN
abrj-305	107	8	risk	risk	NOUN
abrj-305	107	9	and	and	CCONJ
abrj-305	107	10	the	the	DET
abrj-305	107	11	explanatory	explanatory	ADJ
abrj-305	107	12	variables	variable	NOUN
abrj-305	107	13	.	.	PUNCT
abrj-305	108	1	_	_	PRON
abrj-305	108	2	cons	con	VERB
abrj-305	108	3	6.943955	6.943955	NUM
abrj-305	108	4	.1430724	.1430724	ADP
abrj-305	108	5	48.53	48.53	NUM
abrj-305	108	6	0.000	0.000	NUM
abrj-305	108	7	.	.	PUNCT
abrj-305	109	1	equity	equity	NOUN
abrj-305	109	2	-.0275986	-.0275986	PROPN
abrj-305	109	3	.0926814	.0926814	PROPN
abrj-305	109	4	-0.30	-0.30	VERB
abrj-305	109	5	0.766	0.766	NUM
abrj-305	109	6	-.0104681	-.0104681	PUNCT
abrj-305	109	7	fixed	fix	VERB
abrj-305	109	8	-.7573785	-.7573785	PUNCT
abrj-305	109	9	.1032952	.1032952	PROPN
abrj-305	109	10	-7.33	-7.33	NUM
abrj-305	109	11	0.000	0.000	NUM
abrj-305	109	12	-.2565637	-.2565637	NOUN
abrj-305	109	13	globalemergingmarket	globalemergingmarket	NOUN
abrj-305	109	14	-.7305952	-.7305952	PUNCT
abrj-305	109	15	.1568139	.1568139	NOUN
abrj-305	109	16	-4.66	-4.66	NUM
abrj-305	109	17	0.000	0.000	NUM
abrj-305	109	18	-.151478	-.151478	PUNCT
abrj-305	109	19	global	global	ADJ
abrj-305	109	20	-.4634486	-.4634486	PUNCT
abrj-305	109	21	.1182473	.1182473	PROPN
abrj-305	109	22	-3.92	-3.92	NUM
abrj-305	109	23	0.000	0.000	NUM
abrj-305	109	24	-.1766006	-.1766006	NUM
abrj-305	109	25	asia	asia	ADJ
abrj-305	109	26	.3589717	.3589717	PROPN
abrj-305	110	1	.1968683	.1968683	PROPN
abrj-305	110	2	1.82	1.82	NUM
abrj-305	110	3	0.068	0.068	NUM
abrj-305	110	4	.0524111	.0524111	PROPN
abrj-305	110	5	europa	europa	PROPN
abrj-305	110	6	-.5449813	-.5449813	PUNCT
abrj-305	111	1	.1264027	.1264027	PROPN
abrj-305	111	2	-4.31	-4.31	PUNCT
abrj-305	111	3	0.000	0.000	NUM
abrj-305	111	4	-.1802057	-.1802057	PUNCT
abrj-305	111	5	china	china	PROPN
abrj-305	111	6	1.036894	1.036894	NUM
abrj-305	111	7	.3079451	.3079451	NOUN
abrj-305	111	8	3.37	3.37	NUM
abrj-305	111	9	0.001	0.001	NUM
abrj-305	111	10	.0877511	.0877511	PROPN
abrj-305	111	11	fundsizebasecurrency	fundsizebasecurrency	NOUN
abrj-305	111	12	4.56e-11	4.56e-11	NUM
abrj-305	111	13	1.49e-11	1.49e-11	NUM
abrj-305	111	14	3.07	3.07	NUM
abrj-305	111	15	0.002	0.002	NUM
abrj-305	111	16	.0760006	.0760006	NOUN
abrj-305	111	17	governanceriskscore	governanceriskscore	NOUN
abrj-305	111	18	coefficient	coefficient	NOUN
abrj-305	111	19	std	std	PROPN
abrj-305	111	20	.	.	PUNCT
abrj-305	112	1	err	err	PROPN
abrj-305	112	2	.	.	PUNCT
abrj-305	113	1	t	t	PROPN
abrj-305	113	2	p>|t|	p>|t|	PROPN
abrj-305	113	3	beta	beta	NOUN
abrj-305	113	4	total	total	NOUN
abrj-305	113	5	2481.96613	2481.96613	NUM
abrj-305	113	6	1,445	1,445	NUM
abrj-305	113	7	1.71762362	1.71762362	NUM
abrj-305	113	8	root	root	NOUN
abrj-305	113	9	mse	mse	NOUN
abrj-305	113	10	=	=	PUNCT
abrj-305	113	11	1.2236	1.2236	NUM
abrj-305	113	12	adj	adj	NOUN
abrj-305	113	13	r	r	NOUN
abrj-305	113	14	-	-	PUNCT
abrj-305	113	15	squared	square	VERB
abrj-305	113	16	=	=	VERB
abrj-305	113	17	0.1283	0.1283	NUM
abrj-305	113	18	residual	residual	ADJ
abrj-305	113	19	2151.48996	2151.48996	NUM
abrj-305	113	20	1,437	1,437	NUM
abrj-305	113	21	1.49720944	1.49720944	NUM
abrj-305	113	22	r	r	NOUN
abrj-305	113	23	-	-	PUNCT
abrj-305	113	24	squared	square	VERB
abrj-305	113	25	=	=	VERB
abrj-305	113	26	0.1332	0.1332	NUM
abrj-305	113	27	model	model	NOUN
abrj-305	113	28	330.476176	330.476176	NUM
abrj-305	113	29	8	8	NUM
abrj-305	113	30	41.309522	41.309522	NUM
abrj-305	113	31	prob	prob	NOUN
abrj-305	113	32	>	>	X
abrj-305	113	33	f	f	PROPN
abrj-305	113	34	=	=	SYM
abrj-305	113	35	0.0000	0.0000	NUM
abrj-305	113	36	f(8	f(8	NOUN
abrj-305	113	37	,	,	PUNCT
abrj-305	113	38	1437	1437	NUM
abrj-305	113	39	)	)	PUNCT
abrj-305	113	40	=	=	SYM
abrj-305	114	1	27.59	27.59	NUM
abrj-305	114	2	source	source	NOUN
abrj-305	114	3	ss	ss	PROPN
abrj-305	114	4	df	df	PROPN
abrj-305	114	5	ms	ms	NOUN
abrj-305	114	6	number	number	NOUN
abrj-305	114	7	of	of	ADP
abrj-305	114	8	obs	obs	PROPN
abrj-305	114	9	=	=	PROPN
abrj-305	114	10	1,446	1,446	NUM
abrj-305	114	11	asian	asian	ADJ
abrj-305	114	12	business	business	NOUN
abrj-305	114	13	research	research	NOUN
abrj-305	114	14	journal	journal	NOUN
abrj-305	114	15	,	,	PUNCT
abrj-305	114	16	2025	2025	NUM
abrj-305	114	17	,	,	PUNCT
abrj-305	114	18	10(3	10(3	NUM
abrj-305	114	19	):	):	PUNCT
abrj-305	114	20	33	33	NUM
abrj-305	114	21	-	-	SYM
abrj-305	114	22	44	44	NUM
abrj-305	114	23	36	36	NUM
abrj-305	114	24	©	©	PROPN
abrj-305	114	25	2025	2025	NUM
abrj-305	114	26	by	by	ADP
abrj-305	114	27	the	the	DET
abrj-305	114	28	authors	author	NOUN
abrj-305	114	29	;	;	PUNCT
abrj-305	114	30	licensee	licensee	NOUN
abrj-305	114	31	eastern	eastern	ADJ
abrj-305	114	32	centre	centre	NOUN
abrj-305	114	33	of	of	ADP
abrj-305	114	34	science	science	NOUN
abrj-305	114	35	and	and	CCONJ
abrj-305	114	36	education	education	NOUN
abrj-305	114	37	,	,	PUNCT
abrj-305	114	38	usa	usa	PROPN
abrj-305	114	39	table	table	NOUN
abrj-305	114	40	2	2	NUM
abrj-305	114	41	.	.	PUNCT
abrj-305	114	42	heteroskedasticity	heteroskedasticity	NOUN
abrj-305	114	43	tests	test	NOUN
abrj-305	114	44	.	.	PUNCT
abrj-305	115	1	table	table	NOUN
abrj-305	115	2	3	3	NUM
abrj-305	115	3	.	.	X
abrj-305	115	4	estimation	estimation	NOUN
abrj-305	115	5	relationship	relationship	NOUN
abrj-305	115	6	between	between	ADP
abrj-305	115	7	government	government	NOUN
abrj-305	115	8	risk	risk	NOUN
abrj-305	115	9	and	and	CCONJ
abrj-305	115	10	the	the	DET
abrj-305	115	11	explanatory	explanatory	ADJ
abrj-305	115	12	variables	variable	NOUN
abrj-305	115	13	.	.	PUNCT
abrj-305	116	1	the	the	DET
abrj-305	116	2	model	model	NOUN
abrj-305	116	3	does	do	AUX
abrj-305	116	4	not	not	PART
abrj-305	116	5	present	present	VERB
abrj-305	116	6	multicollinearity	multicollinearity	NOUN
abrj-305	116	7	problems.this	problems.this	PRON
abrj-305	116	8	approach	approach	NOUN
abrj-305	116	9	has	have	AUX
abrj-305	116	10	been	be	AUX
abrj-305	116	11	maintained	maintain	VERB
abrj-305	116	12	to	to	PART
abrj-305	116	13	explain	explain	VERB
abrj-305	116	14	both	both	PRON
abrj-305	116	15	environmental	environmental	ADJ
abrj-305	116	16	risk	risk	NOUN
abrj-305	116	17	and	and	CCONJ
abrj-305	116	18	social	social	ADJ
abrj-305	116	19	risk	risk	NOUN
abrj-305	116	20	.	.	PUNCT
abrj-305	117	1	the	the	DET
abrj-305	117	2	presence	presence	NOUN
abrj-305	117	3	of	of	ADP
abrj-305	117	4	heteroscedasticity	heteroscedasticity	NOUN
abrj-305	117	5	is	be	AUX
abrj-305	117	6	detected	detect	VERB
abrj-305	117	7	in	in	ADP
abrj-305	117	8	both	both	DET
abrj-305	117	9	models	model	NOUN
abrj-305	117	10	.	.	PUNCT
abrj-305	118	1	table	table	NOUN
abrj-305	118	2	4	4	NUM
abrj-305	118	3	.	.	PUNCT
abrj-305	118	4	multicollinearity	multicollinearity	NOUN
abrj-305	118	5	test	test	NOUN
abrj-305	118	6	.	.	PUNCT
abrj-305	119	1	_	_	PRON
abrj-305	119	2	cons	con	VERB
abrj-305	119	3	6.857772	6.857772	NUM
abrj-305	119	4	.1066254	.1066254	PROPN
abrj-305	119	5	64.32	64.32	NUM
abrj-305	119	6	0.000	0.000	NUM
abrj-305	119	7	.	.	PUNCT
abrj-305	120	1	equityasia	equityasia	PROPN
abrj-305	121	1	.5147938	.5147938	PROPN
abrj-305	121	2	.2045947	.2045947	PROPN
abrj-305	121	3	2.52	2.52	NUM
abrj-305	121	4	0.012	0.012	NUM
abrj-305	121	5	.0724809	.0724809	PROPN
abrj-305	122	1	equityeuropa	equityeuropa	PROPN
abrj-305	122	2	-.4883664	-.4883664	PUNCT
abrj-305	122	3	.1329831	.1329831	PROPN
abrj-305	122	4	-3.67	-3.67	NOUN
abrj-305	122	5	0.000	0.000	NUM
abrj-305	122	6	-.122471	-.122471	PUNCT
abrj-305	122	7	equitychina	equitychina	PROPN
abrj-305	122	8	1.097098	1.097098	NUM
abrj-305	122	9	.1585564	.1585564	PROPN
abrj-305	122	10	6.92	6.92	NUM
abrj-305	122	11	0.000	0.000	NUM
abrj-305	122	12	.0928461	.0928461	CCONJ
abrj-305	123	1	fixedglobalemergingmarket	fixedglobalemergingmarket	NOUN
abrj-305	123	2	-4.128383	-4.128383	NOUN
abrj-305	123	3	.2758783	.2758783	NOUN
abrj-305	123	4	-14.96	-14.96	PROPN
abrj-305	123	5	0.000	0.000	NUM
abrj-305	123	6	-.55302	-.55302	PUNCT
abrj-305	123	7	fixedasia	fixedasia	PROPN
abrj-305	123	8	-1.336933	-1.336933	NOUN
abrj-305	123	9	.204727	.204727	PROPN
abrj-305	124	1	-6.53	-6.53	NOUN
abrj-305	124	2	0.000	0.000	NUM
abrj-305	124	3	-.0464324	-.0464324	PUNCT
abrj-305	124	4	fixed	fix	VERB
abrj-305	124	5	-.4237719	-.4237719	PUNCT
abrj-305	124	6	.1032172	.1032172	PROPN
abrj-305	124	7	-4.11	-4.11	VERB
abrj-305	124	8	0.000	0.000	NUM
abrj-305	124	9	-.1435537	-.1435537	NOUN
abrj-305	124	10	globalemergingmarket	globalemergingmarket	NOUN
abrj-305	125	1	.8452152	.8452152	PUNCT
abrj-305	125	2	.1329176	.1329176	NOUN
abrj-305	125	3	6.36	6.36	NUM
abrj-305	125	4	0.000	0.000	NUM
abrj-305	125	5	.1752427	.1752427	NOUN
abrj-305	125	6	global	global	ADJ
abrj-305	125	7	-.4616011	-.4616011	PUNCT
abrj-305	125	8	.1072079	.1072079	PROPN
abrj-305	125	9	-4.31	-4.31	NUM
abrj-305	125	10	0.000	0.000	NUM
abrj-305	125	11	-.1758966	-.1758966	PUNCT
abrj-305	125	12	europa	europa	PROPN
abrj-305	125	13	-.3680082	-.3680082	PUNCT
abrj-305	125	14	.1560375	.1560375	PROPN
abrj-305	125	15	-2.36	-2.36	NUM
abrj-305	125	16	0.018	0.018	NUM
abrj-305	125	17	-.121687	-.121687	PUNCT
abrj-305	125	18	fundsizebasecurrency	fundsizebasecurrency	NOUN
abrj-305	125	19	4.47e-11	4.47e-11	NUM
abrj-305	125	20	1.41e-11	1.41e-11	NUM
abrj-305	125	21	3.18	3.18	NUM
abrj-305	125	22	0.001	0.001	NUM
abrj-305	125	23	.0745249	.0745249	NOUN
abrj-305	125	24	governanceriskscore	governanceriskscore	NOUN
abrj-305	125	25	coefficient	coefficient	NOUN
abrj-305	125	26	std	std	PROPN
abrj-305	125	27	.	.	PUNCT
abrj-305	126	1	err	err	PROPN
abrj-305	126	2	.	.	PUNCT
abrj-305	127	1	t	t	PROPN
abrj-305	127	2	p>|t|	p>|t|	PROPN
abrj-305	127	3	beta	beta	NOUN
abrj-305	127	4	robust	robust	ADJ
abrj-305	127	5	hc3	hc3	NOUN
abrj-305	127	6	root	root	NOUN
abrj-305	127	7	mse	mse	NOUN
abrj-305	127	8	=	=	NOUN
abrj-305	127	9	1.0798	1.0798	NUM
abrj-305	127	10	r	r	NOUN
abrj-305	127	11	-	-	PUNCT
abrj-305	127	12	squared	square	VERB
abrj-305	127	13	=	=	SYM
abrj-305	127	14	0.3258	0.3258	NUM
abrj-305	127	15	prob	prob	NOUN
abrj-305	127	16	>	>	X
abrj-305	127	17	f	f	PROPN
abrj-305	128	1	=	=	PUNCT
abrj-305	128	2	.	.	PUNCT
abrj-305	129	1	f(9	f(9	PROPN
abrj-305	129	2	,	,	PUNCT
abrj-305	129	3	1435	1435	NUM
abrj-305	129	4	)	)	PUNCT
abrj-305	130	1	=	=	PUNCT
abrj-305	130	2	.	.	PUNCT
abrj-305	131	1	linear	linear	ADJ
abrj-305	131	2	regression	regression	NOUN
abrj-305	131	3	number	number	NOUN
abrj-305	131	4	of	of	ADP
abrj-305	131	5	obs	obs	PROPN
abrj-305	131	6	=	=	SYM
abrj-305	131	7	1,446	1,446	NUM
abrj-305	131	8	mean	mean	NOUN
abrj-305	131	9	vif	vif	PROPN
abrj-305	131	10	1.99	1.99	NUM
abrj-305	131	11	fundsizeba	fundsizeba	PROPN
abrj-305	131	12	~	~	PROPN
abrj-305	131	13	y	y	PROPN
abrj-305	131	14	1.02	1.02	NUM
abrj-305	131	15	0.980407	0.980407	NUM
abrj-305	131	16	fixedasia	fixedasia	NOUN
abrj-305	131	17	1.03	1.03	NUM
abrj-305	131	18	0.969476	0.969476	NUM
abrj-305	131	19	equitychina	equitychina	PROPN
abrj-305	131	20	1.13	1.13	NUM
abrj-305	131	21	0.888184	0.888184	NUM
abrj-305	131	22	equityasia	equityasia	NOUN
abrj-305	131	23	1.35	1.35	NUM
abrj-305	131	24	0.742034	0.742034	NUM
abrj-305	131	25	fixed	fix	VERB
abrj-305	131	26	1.59	1.59	NUM
abrj-305	131	27	0.627692	0.627692	NUM
abrj-305	131	28	fixedgloba	fixedgloba	NOUN
abrj-305	131	29	~	~	SYM
abrj-305	131	30	t	t	NOUN
abrj-305	131	31	1.85	1.85	NUM
abrj-305	131	32	0.539508	0.539508	NUM
abrj-305	131	33	equityeuropa	equityeuropa	ADJ
abrj-305	131	34	2.30	2.30	NUM
abrj-305	131	35	0.434280	0.434280	NUM
abrj-305	131	36	globalemer	globalemer	NOUN
abrj-305	131	37	~	~	SYM
abrj-305	131	38	t	t	NOUN
abrj-305	131	39	2.36	2.36	NUM
abrj-305	131	40	0.424004	0.424004	NUM
abrj-305	131	41	global	global	ADJ
abrj-305	131	42	3.18	3.18	NUM
abrj-305	131	43	0.314143	0.314143	NUM
abrj-305	131	44	europa	europa	NOUN
abrj-305	131	45	4.09	4.09	NUM
abrj-305	131	46	0.244456	0.244456	NUM
abrj-305	131	47	variable	variable	ADJ
abrj-305	131	48	vif	vif	NOUN
abrj-305	131	49	1	1	NUM
abrj-305	131	50	/	/	SYM
abrj-305	131	51	vif	vif	PROPN
abrj-305	131	52	asian	asian	PROPN
abrj-305	131	53	business	business	PROPN
abrj-305	131	54	research	research	NOUN
abrj-305	131	55	journal	journal	NOUN
abrj-305	131	56	,	,	PUNCT
abrj-305	131	57	2025	2025	NUM
abrj-305	131	58	,	,	PUNCT
abrj-305	131	59	10(3	10(3	NUM
abrj-305	131	60	):	):	PUNCT
abrj-305	131	61	33	33	NUM
abrj-305	131	62	-	-	SYM
abrj-305	131	63	44	44	NUM
abrj-305	131	64	37	37	NUM
abrj-305	131	65	©	©	PROPN
abrj-305	131	66	2025	2025	NUM
abrj-305	131	67	by	by	ADP
abrj-305	131	68	the	the	DET
abrj-305	131	69	authors	author	NOUN
abrj-305	131	70	;	;	PUNCT
abrj-305	131	71	licensee	licensee	NOUN
abrj-305	131	72	eastern	eastern	ADJ
abrj-305	131	73	centre	centre	NOUN
abrj-305	131	74	of	of	ADP
abrj-305	131	75	science	science	NOUN
abrj-305	131	76	and	and	CCONJ
abrj-305	131	77	education	education	NOUN
abrj-305	131	78	,	,	PUNCT
abrj-305	131	79	usa	usa	PROPN
abrj-305	131	80	table	table	NOUN
abrj-305	131	81	5	5	NUM
abrj-305	131	82	.	.	PUNCT
abrj-305	131	83	estimation	estimation	NOUN
abrj-305	131	84	relationship	relationship	NOUN
abrj-305	131	85	between	between	ADP
abrj-305	131	86	environmental	environmental	ADJ
abrj-305	131	87	risk	risk	NOUN
abrj-305	131	88	/	/	SYM
abrj-305	131	89	social	social	ADJ
abrj-305	131	90	risk	risk	NOUN
abrj-305	131	91	and	and	CCONJ
abrj-305	131	92	the	the	DET
abrj-305	131	93	explanatory	explanatory	ADJ
abrj-305	131	94	variables	variable	NOUN
abrj-305	131	95	.	.	PUNCT
abrj-305	132	1	table	table	NOUN
abrj-305	132	2	6	6	NUM
abrj-305	132	3	.	.	PUNCT
abrj-305	133	1	heteroskedasticity	heteroskedasticity	NOUN
abrj-305	133	2	tests	test	NOUN
abrj-305	133	3	.	.	PUNCT
abrj-305	134	1	asian	asian	ADJ
abrj-305	134	2	business	business	PROPN
abrj-305	134	3	research	research	NOUN
abrj-305	134	4	journal	journal	NOUN
abrj-305	134	5	,	,	PUNCT
abrj-305	134	6	2025	2025	NUM
abrj-305	134	7	,	,	PUNCT
abrj-305	134	8	10(3	10(3	NUM
abrj-305	134	9	):	):	PUNCT
abrj-305	134	10	33	33	NUM
abrj-305	134	11	-	-	SYM
abrj-305	134	12	44	44	NUM
abrj-305	134	13	38	38	NUM
abrj-305	134	14	©	©	ADP
abrj-305	134	15	2025	2025	NUM
abrj-305	134	16	by	by	ADP
abrj-305	134	17	the	the	DET
abrj-305	134	18	authors	author	NOUN
abrj-305	134	19	;	;	PUNCT
abrj-305	134	20	licensee	licensee	NOUN
abrj-305	134	21	eastern	eastern	ADJ
abrj-305	134	22	centre	centre	NOUN
abrj-305	134	23	of	of	ADP
abrj-305	134	24	science	science	NOUN
abrj-305	134	25	and	and	CCONJ
abrj-305	134	26	education	education	NOUN
abrj-305	134	27	,	,	PUNCT
abrj-305	134	28	usa	usa	PROPN
abrj-305	134	29	to	to	PART
abrj-305	134	30	eliminate	eliminate	VERB
abrj-305	134	31	the	the	DET
abrj-305	134	32	problem	problem	NOUN
abrj-305	134	33	,	,	PUNCT
abrj-305	134	34	they	they	PRON
abrj-305	134	35	are	be	AUX
abrj-305	134	36	estimated	estimate	VERB
abrj-305	134	37	with	with	ADP
abrj-305	134	38	heteroscedasticity	heteroscedasticity	NOUN
abrj-305	134	39	-	-	PUNCT
abrj-305	134	40	robust	robust	ADJ
abrj-305	134	41	estimators	estimator	NOUN
abrj-305	134	42	,	,	PUNCT
abrj-305	134	43	and	and	CCONJ
abrj-305	134	44	non	non	ADJ
abrj-305	134	45	-	-	ADJ
abrj-305	134	46	significant	significant	ADJ
abrj-305	134	47	variables	variable	NOUN
abrj-305	134	48	are	be	AUX
abrj-305	134	49	sequentially	sequentially	ADV
abrj-305	134	50	eliminated	eliminate	VERB
abrj-305	134	51	.	.	PUNCT
abrj-305	135	1	both	both	DET
abrj-305	135	2	models	model	NOUN
abrj-305	135	3	do	do	AUX
abrj-305	135	4	not	not	PART
abrj-305	135	5	present	present	VERB
abrj-305	135	6	multicollinearity	multicollinearity	NOUN
abrj-305	135	7	problems	problem	NOUN
abrj-305	135	8	.	.	PUNCT
abrj-305	136	1	table	table	NOUN
abrj-305	136	2	7	7	NUM
abrj-305	136	3	.	.	PUNCT
abrj-305	136	4	estimation	estimation	NOUN
abrj-305	136	5	relationship	relationship	NOUN
abrj-305	136	6	between	between	ADP
abrj-305	136	7	environmental	environmental	ADJ
abrj-305	136	8	risk	risk	NOUN
abrj-305	136	9	/	/	SYM
abrj-305	136	10	social	social	ADJ
abrj-305	136	11	risk	risk	NOUN
abrj-305	136	12	and	and	CCONJ
abrj-305	136	13	the	the	DET
abrj-305	136	14	explanatory	explanatory	ADJ
abrj-305	136	15	variables	variable	NOUN
abrj-305	136	16	with	with	ADP
abrj-305	136	17	heteroscedasticity	heteroscedasticity	NOUN
abrj-305	136	18	-	-	PUNCT
abrj-305	136	19	robust	robust	ADJ
abrj-305	136	20	estimators	estimator	NOUN
abrj-305	136	21	.	.	PUNCT
abrj-305	137	1	asian	asian	ADJ
abrj-305	137	2	business	business	PROPN
abrj-305	137	3	research	research	NOUN
abrj-305	137	4	journal	journal	NOUN
abrj-305	137	5	,	,	PUNCT
abrj-305	137	6	2025	2025	NUM
abrj-305	137	7	,	,	PUNCT
abrj-305	137	8	10(3	10(3	NUM
abrj-305	137	9	):	):	PUNCT
abrj-305	137	10	33	33	NUM
abrj-305	137	11	-	-	SYM
abrj-305	137	12	44	44	NUM
abrj-305	137	13	39	39	NUM
abrj-305	137	14	©	©	ADP
abrj-305	137	15	2025	2025	NUM
abrj-305	137	16	by	by	ADP
abrj-305	137	17	the	the	DET
abrj-305	137	18	authors	author	NOUN
abrj-305	137	19	;	;	PUNCT
abrj-305	137	20	licensee	licensee	NOUN
abrj-305	137	21	eastern	eastern	ADJ
abrj-305	137	22	centre	centre	NOUN
abrj-305	137	23	of	of	ADP
abrj-305	137	24	science	science	NOUN
abrj-305	137	25	and	and	CCONJ
abrj-305	137	26	education	education	NOUN
abrj-305	137	27	,	,	PUNCT
abrj-305	137	28	usa	usa	PROPN
abrj-305	137	29	table	table	NOUN
abrj-305	137	30	8	8	NUM
abrj-305	137	31	.	.	PUNCT
abrj-305	138	1	multicollinearity	multicollinearity	NOUN
abrj-305	138	2	test	test	NOUN
abrj-305	138	3	.	.	PUNCT
abrj-305	139	1	table	table	NOUN
abrj-305	139	2	9	9	NUM
abrj-305	139	3	.	.	PUNCT
abrj-305	140	1	interpretation	interpretation	NOUN
abrj-305	140	2	of	of	ADP
abrj-305	140	3	results	result	NOUN
abrj-305	140	4	:	:	PUNCT
abrj-305	140	5	comparative	comparative	ADJ
abrj-305	140	6	summary	summary	NOUN
abrj-305	140	7	.	.	PUNCT
abrj-305	141	1	5	5	X
abrj-305	141	2	.	.	X
abrj-305	141	3	interpretation	interpretation	NOUN
abrj-305	141	4	of	of	ADP
abrj-305	141	5	the	the	DET
abrj-305	141	6	government	government	NOUN
abrj-305	141	7	risk	risk	NOUN
abrj-305	141	8	model	model	NOUN
abrj-305	141	9	the	the	DET
abrj-305	141	10	portfolio	portfolio	NOUN
abrj-305	141	11	governance	governance	NOUN
abrj-305	141	12	risk	risk	NOUN
abrj-305	141	13	score	score	NOUN
abrj-305	141	14	reaches	reach	VERB
abrj-305	141	15	an	an	DET
abrj-305	141	16	average	average	ADJ
abrj-305	141	17	value	value	NOUN
abrj-305	141	18	of	of	ADP
abrj-305	141	19	6.86	6.86	NUM
abrj-305	141	20	points	point	NOUN
abrj-305	141	21	.	.	PUNCT
abrj-305	142	1	this	this	DET
abrj-305	142	2	indicator	indicator	NOUN
abrj-305	142	3	is	be	AUX
abrj-305	142	4	influenced	influence	VERB
abrj-305	142	5	by	by	ADP
abrj-305	142	6	several	several	ADJ
abrj-305	142	7	key	key	ADJ
abrj-305	142	8	variables	variable	NOUN
abrj-305	142	9	.	.	PUNCT
abrj-305	143	1	the	the	DET
abrj-305	143	2	fund	fund	NOUN
abrj-305	143	3	size	size	NOUN
abrj-305	143	4	in	in	ADP
abrj-305	143	5	base	base	NOUN
abrj-305	143	6	currency	currency	NOUN
abrj-305	143	7	(	(	PUNCT
abrj-305	143	8	fundsizebasecurrency	fundsizebasecurrency	NOUN
abrj-305	143	9	)	)	PUNCT
abrj-305	143	10	has	have	VERB
abrj-305	143	11	a	a	DET
abrj-305	143	12	direct	direct	ADJ
abrj-305	143	13	positive	positive	ADJ
abrj-305	143	14	influence	influence	NOUN
abrj-305	143	15	.	.	PUNCT
abrj-305	144	1	for	for	ADP
abrj-305	144	2	every	every	DET
abrj-305	144	3	euro	euro	NOUN
abrj-305	144	4	increase	increase	NOUN
abrj-305	144	5	in	in	ADP
abrj-305	144	6	fund	fund	NOUN
abrj-305	144	7	size	size	NOUN
abrj-305	144	8	,	,	PUNCT
abrj-305	144	9	the	the	DET
abrj-305	144	10	portfolio	portfolio	NOUN
abrj-305	144	11	governance	governance	NOUN
abrj-305	144	12	risk	risk	NOUN
abrj-305	144	13	score	score	NOUN
abrj-305	144	14	increases	increase	NOUN
abrj-305	144	15	on	on	ADP
abrj-305	144	16	average	average	ADJ
abrj-305	144	17	by	by	ADP
abrj-305	144	18	4.47e-11	4.47e-11	NUM
abrj-305	144	19	points	point	NOUN
abrj-305	144	20	,	,	PUNCT
abrj-305	144	21	provided	provide	VERB
abrj-305	144	22	that	that	SCONJ
abrj-305	144	23	the	the	DET
abrj-305	144	24	other	other	ADJ
abrj-305	144	25	variables	variable	NOUN
abrj-305	144	26	remain	remain	VERB
abrj-305	144	27	constant	constant	ADJ
abrj-305	144	28	.	.	PUNCT
abrj-305	145	1	geographic	geographic	ADJ
abrj-305	145	2	location	location	NOUN
abrj-305	145	3	also	also	ADV
abrj-305	145	4	plays	play	VERB
abrj-305	145	5	a	a	DET
abrj-305	145	6	crucial	crucial	ADJ
abrj-305	145	7	role	role	NOUN
abrj-305	145	8	.	.	PUNCT
abrj-305	146	1	if	if	SCONJ
abrj-305	146	2	the	the	DET
abrj-305	146	3	fund	fund	NOUN
abrj-305	146	4	is	be	AUX
abrj-305	146	5	located	locate	VERB
abrj-305	146	6	in	in	ADP
abrj-305	146	7	europe	europe	PROPN
abrj-305	146	8	,	,	PUNCT
abrj-305	146	9	the	the	DET
abrj-305	146	10	portfolio	portfolio	NOUN
abrj-305	146	11	governance	governance	NOUN
abrj-305	146	12	risk	risk	NOUN
abrj-305	146	13	score	score	NOUN
abrj-305	146	14	decreases	decrease	VERB
abrj-305	146	15	on	on	ADP
abrj-305	146	16	average	average	ADJ
abrj-305	146	17	by	by	ADP
abrj-305	146	18	0.368	0.368	NUM
abrj-305	146	19	points	point	NOUN
abrj-305	146	20	,	,	PUNCT
abrj-305	146	21	dropping	drop	VERB
abrj-305	146	22	from	from	ADP
abrj-305	146	23	6.86	6.86	NUM
abrj-305	146	24	to	to	ADP
abrj-305	146	25	6.49	6.49	NUM
abrj-305	146	26	points	point	NOUN
abrj-305	146	27	,	,	PUNCT
abrj-305	146	28	with	with	ADP
abrj-305	146	29	statistically	statistically	ADV
abrj-305	146	30	significant	significant	ADJ
abrj-305	146	31	differences	difference	NOUN
abrj-305	146	32	between	between	ADP
abrj-305	146	33	both	both	DET
abrj-305	146	34	categories	category	NOUN
abrj-305	146	35	compared	compare	VERB
abrj-305	146	36	to	to	ADP
abrj-305	146	37	funds	fund	NOUN
abrj-305	146	38	located	locate	VERB
abrj-305	146	39	in	in	ADP
abrj-305	146	40	the	the	DET
abrj-305	146	41	u.s	u.s	PROPN
abrj-305	146	42	.	.	PROPN
abrj-305	146	43	on	on	ADP
abrj-305	146	44	the	the	DET
abrj-305	146	45	other	other	ADJ
abrj-305	146	46	hand	hand	NOUN
abrj-305	146	47	,	,	PUNCT
abrj-305	146	48	if	if	SCONJ
abrj-305	146	49	the	the	DET
abrj-305	146	50	fund	fund	NOUN
abrj-305	146	51	is	be	AUX
abrj-305	146	52	global	global	ADJ
abrj-305	146	53	,	,	PUNCT
abrj-305	146	54	the	the	DET
abrj-305	146	55	indicator	indicator	NOUN
abrj-305	146	56	decreases	decrease	VERB
abrj-305	146	57	by	by	ADP
abrj-305	146	58	0.4616011	0.4616011	NUM
abrj-305	146	59	points	point	NOUN
abrj-305	146	60	,	,	PUNCT
abrj-305	146	61	resulting	result	VERB
abrj-305	146	62	in	in	ADP
abrj-305	146	63	a	a	DET
abrj-305	146	64	value	value	NOUN
abrj-305	146	65	of	of	ADP
abrj-305	146	66	6.3962	6.3962	NUM
abrj-305	146	67	points	point	NOUN
abrj-305	146	68	.	.	PUNCT
abrj-305	147	1	in	in	ADP
abrj-305	147	2	contrast	contrast	NOUN
abrj-305	147	3	,	,	PUNCT
abrj-305	147	4	funds	fund	NOUN
abrj-305	147	5	classified	classify	VERB
abrj-305	147	6	as	as	SCONJ
abrj-305	147	7	global	global	ADJ
abrj-305	147	8	emerging	emerge	VERB
abrj-305	147	9	markets	market	NOUN
abrj-305	147	10	experience	experience	VERB
abrj-305	147	11	an	an	DET
abrj-305	147	12	increase	increase	NOUN
abrj-305	147	13	in	in	ADP
abrj-305	147	14	the	the	DET
abrj-305	147	15	indicator	indicator	NOUN
abrj-305	147	16	of	of	ADP
abrj-305	147	17	0.8452152	0.8452152	NUM
abrj-305	147	18	points	point	NOUN
abrj-305	147	19	,	,	PUNCT
abrj-305	147	20	raising	raise	VERB
abrj-305	147	21	the	the	DET
abrj-305	147	22	average	average	ADJ
abrj-305	147	23	risk	risk	NOUN
abrj-305	147	24	to	to	ADP
abrj-305	147	25	7.703	7.703	NUM
abrj-305	147	26	points	point	NOUN
abrj-305	147	27	.	.	PUNCT
abrj-305	148	1	regarding	regard	VERB
abrj-305	148	2	investment	investment	NOUN
abrj-305	148	3	categories	category	NOUN
abrj-305	148	4	,	,	PUNCT
abrj-305	148	5	fixed	fix	VERB
abrj-305	148	6	funds	fund	NOUN
abrj-305	148	7	show	show	VERB
abrj-305	148	8	a	a	DET
abrj-305	148	9	decrease	decrease	NOUN
abrj-305	148	10	in	in	ADP
abrj-305	148	11	risk	risk	NOUN
abrj-305	148	12	on	on	ADP
abrj-305	148	13	average	average	NOUN
abrj-305	148	14	of	of	ADP
abrj-305	148	15	0.4237719	0.4237719	NUM
abrj-305	148	16	points	point	NOUN
abrj-305	148	17	,	,	PUNCT
abrj-305	148	18	achieving	achieve	VERB
abrj-305	148	19	a	a	DET
abrj-305	148	20	mean	mean	ADJ
abrj-305	148	21	score	score	NOUN
abrj-305	148	22	of	of	ADP
abrj-305	148	23	6.434	6.434	NUM
abrj-305	148	24	points	point	NOUN
abrj-305	148	25	compared	compare	VERB
abrj-305	148	26	to	to	ADP
abrj-305	148	27	allocation	allocation	NOUN
abrj-305	148	28	funds	fund	NOUN
abrj-305	148	29	.	.	PUNCT
abrj-305	149	1	additionally	additionally	ADV
abrj-305	149	2	,	,	PUNCT
abrj-305	149	3	interactions	interaction	NOUN
abrj-305	149	4	between	between	ADP
abrj-305	149	5	different	different	ADJ
abrj-305	149	6	variables	variable	NOUN
abrj-305	149	7	are	be	AUX
abrj-305	149	8	also	also	ADV
abrj-305	149	9	significant	significant	ADJ
abrj-305	149	10	.	.	PUNCT
abrj-305	150	1	for	for	ADP
abrj-305	150	2	example	example	NOUN
abrj-305	150	3	,	,	PUNCT
abrj-305	150	4	the	the	DET
abrj-305	150	5	interaction	interaction	NOUN
abrj-305	150	6	between	between	ADP
abrj-305	150	7	fixed	fix	VERB
abrj-305	150	8	funds	fund	NOUN
abrj-305	150	9	and	and	CCONJ
abrj-305	150	10	location	location	NOUN
abrj-305	150	11	in	in	ADP
abrj-305	150	12	asia	asia	PROPN
abrj-305	150	13	reduces	reduce	VERB
abrj-305	150	14	the	the	DET
abrj-305	150	15	portfolio	portfolio	NOUN
abrj-305	150	16	governance	governance	NOUN
abrj-305	150	17	risk	risk	NOUN
abrj-305	150	18	score	score	NOUN
abrj-305	150	19	to	to	ADP
abrj-305	150	20	an	an	DET
abrj-305	150	21	average	average	ADJ
abrj-305	150	22	value	value	NOUN
abrj-305	150	23	of	of	ADP
abrj-305	150	24	5.0971	5.0971	NUM
abrj-305	150	25	points	point	NOUN
abrj-305	150	26	.	.	PUNCT
abrj-305	151	1	this	this	DET
abrj-305	151	2	reduction	reduction	NOUN
abrj-305	151	3	is	be	AUX
abrj-305	151	4	even	even	ADV
abrj-305	151	5	more	more	ADV
abrj-305	151	6	pronounced	pronounced	ADJ
abrj-305	151	7	for	for	ADP
abrj-305	151	8	fixed	fix	VERB
abrj-305	151	9	funds	fund	NOUN
abrj-305	151	10	in	in	ADP
abrj-305	151	11	global	global	ADJ
abrj-305	151	12	emerging	emerge	VERB
abrj-305	151	13	markets	market	NOUN
abrj-305	151	14	,	,	PUNCT
abrj-305	151	15	where	where	SCONJ
abrj-305	151	16	the	the	DET
abrj-305	151	17	indicator	indicator	NOUN
abrj-305	151	18	drops	drop	VERB
abrj-305	151	19	to	to	ADP
abrj-305	151	20	2.30562	2.30562	NUM
abrj-305	151	21	points	point	NOUN
abrj-305	151	22	.	.	PUNCT
abrj-305	152	1	on	on	ADP
abrj-305	152	2	the	the	DET
abrj-305	152	3	other	other	ADJ
abrj-305	152	4	hand	hand	NOUN
abrj-305	152	5	,	,	PUNCT
abrj-305	152	6	equity	equity	NOUN
abrj-305	152	7	funds	fund	NOUN
abrj-305	152	8	in	in	ADP
abrj-305	152	9	china	china	PROPN
abrj-305	152	10	experience	experience	VERB
abrj-305	152	11	an	an	DET
abrj-305	152	12	increase	increase	NOUN
abrj-305	152	13	in	in	ADP
abrj-305	152	14	risk	risk	NOUN
abrj-305	152	15	to	to	ADP
abrj-305	152	16	an	an	DET
abrj-305	152	17	average	average	ADJ
abrj-305	152	18	value	value	NOUN
abrj-305	152	19	of	of	ADP
abrj-305	152	20	7.95487	7.95487	NUM
abrj-305	152	21	points	point	NOUN
abrj-305	152	22	,	,	PUNCT
abrj-305	152	23	while	while	SCONJ
abrj-305	152	24	in	in	ADP
abrj-305	152	25	europe	europe	PROPN
abrj-305	152	26	the	the	DET
abrj-305	152	27	risk	risk	NOUN
abrj-305	152	28	is	be	AUX
abrj-305	152	29	reduced	reduce	VERB
abrj-305	152	30	to	to	ADP
abrj-305	152	31	6.0214	6.0214	NUM
abrj-305	152	32	points	point	NOUN
abrj-305	152	33	.	.	PUNCT
abrj-305	153	1	finally	finally	ADV
abrj-305	153	2	,	,	PUNCT
abrj-305	153	3	equity	equity	NOUN
abrj-305	153	4	funds	fund	NOUN
abrj-305	153	5	in	in	ADP
abrj-305	153	6	asia	asia	PROPN
abrj-305	153	7	present	present	VERB
abrj-305	153	8	an	an	DET
abrj-305	153	9	increase	increase	NOUN
abrj-305	153	10	in	in	ADP
abrj-305	153	11	risk	risk	NOUN
abrj-305	153	12	to	to	ADP
abrj-305	153	13	an	an	DET
abrj-305	153	14	average	average	ADJ
abrj-305	153	15	value	value	NOUN
abrj-305	153	16	of	of	ADP
abrj-305	153	17	7.37257	7.37257	NUM
abrj-305	153	18	points	point	NOUN
abrj-305	153	19	.	.	PUNCT
abrj-305	154	1	these	these	DET
abrj-305	154	2	interactions	interaction	NOUN
abrj-305	154	3	and	and	CCONJ
abrj-305	154	4	variables	variable	NOUN
abrj-305	154	5	demonstrate	demonstrate	VERB
abrj-305	154	6	how	how	SCONJ
abrj-305	154	7	different	different	ADJ
abrj-305	154	8	geographic	geographic	ADJ
abrj-305	154	9	and	and	CCONJ
abrj-305	154	10	investment	investment	NOUN
abrj-305	154	11	factors	factor	NOUN
abrj-305	154	12	influence	influence	VERB
abrj-305	154	13	the	the	DET
abrj-305	154	14	governance	governance	NOUN
abrj-305	154	15	risk	risk	NOUN
abrj-305	154	16	of	of	ADP
abrj-305	154	17	funds	fund	NOUN
abrj-305	154	18	.	.	PUNCT
abrj-305	155	1	asian	asian	ADJ
abrj-305	155	2	business	business	PROPN
abrj-305	155	3	research	research	NOUN
abrj-305	155	4	journal	journal	NOUN
abrj-305	155	5	,	,	PUNCT
abrj-305	155	6	2025	2025	NUM
abrj-305	155	7	,	,	PUNCT
abrj-305	155	8	10(3	10(3	NUM
abrj-305	155	9	):	):	PUNCT
abrj-305	155	10	33	33	NUM
abrj-305	155	11	-	-	SYM
abrj-305	155	12	44	44	NUM
abrj-305	155	13	40	40	NUM
abrj-305	155	14	©	©	ADP
abrj-305	155	15	2025	2025	NUM
abrj-305	155	16	by	by	ADP
abrj-305	155	17	the	the	DET
abrj-305	155	18	authors	author	NOUN
abrj-305	155	19	;	;	PUNCT
abrj-305	155	20	licensee	licensee	NOUN
abrj-305	155	21	eastern	eastern	ADJ
abrj-305	155	22	centre	centre	NOUN
abrj-305	155	23	of	of	ADP
abrj-305	155	24	science	science	NOUN
abrj-305	155	25	and	and	CCONJ
abrj-305	155	26	education	education	NOUN
abrj-305	155	27	,	,	PUNCT
abrj-305	155	28	usa	usa	PROPN
abrj-305	155	29	figure	figure	NOUN
abrj-305	155	30	1	1	NUM
abrj-305	155	31	.	.	PUNCT
abrj-305	155	32	standardized	standardized	ADJ
abrj-305	155	33	coefficients	coefficient	NOUN
abrj-305	155	34	.	.	PUNCT
abrj-305	156	1	table	table	NOUN
abrj-305	156	2	10	10	NUM
abrj-305	156	3	.	.	PUNCT
abrj-305	157	1	interpretation	interpretation	NOUN
abrj-305	157	2	of	of	ADP
abrj-305	157	3	the	the	DET
abrj-305	157	4	government	government	NOUN
abrj-305	157	5	risk	risk	NOUN
abrj-305	157	6	model	model	NOUN
abrj-305	157	7	.	.	PUNCT
abrj-305	158	1	figure	figure	NOUN
abrj-305	158	2	2	2	NUM
abrj-305	158	3	.	.	PUNCT
abrj-305	158	4	effect	effect	NOUN
abrj-305	158	5	on	on	ADP
abrj-305	158	6	the	the	DET
abrj-305	158	7	model	model	NOUN
abrj-305	159	1	mean	mean	NOUN
abrj-305	159	2	.	.	PUNCT
abrj-305	160	1	6	6	X
abrj-305	160	2	.	.	X
abrj-305	160	3	interpretation	interpretation	NOUN
abrj-305	160	4	of	of	ADP
abrj-305	160	5	the	the	DET
abrj-305	160	6	environmental	environmental	ADJ
abrj-305	160	7	risk	risk	NOUN
abrj-305	160	8	model	model	NOUN
abrj-305	160	9	the	the	DET
abrj-305	160	10	portfolio	portfolio	NOUN
abrj-305	160	11	environmental	environmental	ADJ
abrj-305	160	12	risk	risk	NOUN
abrj-305	160	13	score	score	NOUN
abrj-305	160	14	variable	variable	ADJ
abrj-305	160	15	measures	measure	VERB
abrj-305	160	16	the	the	DET
abrj-305	160	17	environmental	environmental	ADJ
abrj-305	160	18	risk	risk	NOUN
abrj-305	160	19	of	of	ADP
abrj-305	160	20	the	the	DET
abrj-305	160	21	portfolio	portfolio	NOUN
abrj-305	160	22	.	.	PUNCT
abrj-305	161	1	in	in	ADP
abrj-305	161	2	this	this	DET
abrj-305	161	3	case	case	NOUN
abrj-305	161	4	,	,	PUNCT
abrj-305	161	5	the	the	DET
abrj-305	161	6	average	average	ADJ
abrj-305	161	7	risk	risk	NOUN
abrj-305	161	8	of	of	ADP
abrj-305	161	9	the	the	DET
abrj-305	161	10	different	different	ADJ
abrj-305	161	11	portfolios	portfolio	NOUN
abrj-305	161	12	included	include	VERB
abrj-305	161	13	in	in	ADP
abrj-305	161	14	the	the	DET
abrj-305	161	15	data	data	NOUN
abrj-305	161	16	reaches	reach	VERB
abrj-305	161	17	a	a	DET
abrj-305	161	18	value	value	NOUN
abrj-305	161	19	of	of	ADP
abrj-305	161	20	3.4337	3.4337	NUM
abrj-305	161	21	points	point	NOUN
abrj-305	161	22	.	.	PUNCT
abrj-305	162	1	the	the	DET
abrj-305	162	2	variables	variable	NOUN
abrj-305	162	3	that	that	PRON
abrj-305	162	4	significantly	significantly	ADV
abrj-305	162	5	influence	influence	VERB
abrj-305	162	6	this	this	DET
abrj-305	162	7	variable	variable	NOUN
abrj-305	162	8	are	be	AUX
abrj-305	162	9	several	several	ADJ
abrj-305	162	10	.	.	PUNCT
abrj-305	163	1	geographic	geographic	ADJ
abrj-305	163	2	location	location	NOUN
abrj-305	163	3	plays	play	VERB
abrj-305	163	4	a	a	DET
abrj-305	163	5	crucial	crucial	ADJ
abrj-305	163	6	role	role	NOUN
abrj-305	163	7	.	.	PUNCT
abrj-305	164	1	if	if	SCONJ
abrj-305	164	2	the	the	DET
abrj-305	164	3	fund	fund	NOUN
abrj-305	164	4	is	be	AUX
abrj-305	164	5	based	base	VERB
abrj-305	164	6	in	in	ADP
abrj-305	164	7	asia	asia	PROPN
abrj-305	164	8	,	,	PUNCT
abrj-305	164	9	the	the	DET
abrj-305	164	10	average	average	ADJ
abrj-305	164	11	risk	risk	NOUN
abrj-305	164	12	increases	increase	NOUN
abrj-305	164	13	by	by	ADP
abrj-305	164	14	0.6303906	0.6303906	NUM
abrj-305	164	15	points	point	NOUN
abrj-305	164	16	,	,	PUNCT
abrj-305	164	17	so	so	SCONJ
abrj-305	164	18	that	that	SCONJ
abrj-305	164	19	the	the	DET
abrj-305	164	20	average	average	ADJ
abrj-305	164	21	value	value	NOUN
abrj-305	164	22	of	of	ADP
abrj-305	164	23	the	the	DET
abrj-305	164	24	variable	variable	NOUN
abrj-305	164	25	,	,	PUNCT
abrj-305	164	26	in	in	ADP
abrj-305	164	27	this	this	DET
abrj-305	164	28	case	case	NOUN
abrj-305	164	29	,	,	PUNCT
abrj-305	164	30	is	be	AUX
abrj-305	164	31	4.064	4.064	NUM
abrj-305	164	32	points	point	NOUN
abrj-305	164	33	,	,	PUNCT
abrj-305	164	34	with	with	ADP
abrj-305	164	35	significant	significant	ADJ
abrj-305	164	36	differences	difference	NOUN
abrj-305	164	37	between	between	ADP
abrj-305	164	38	the	the	DET
abrj-305	164	39	asia	asia	PROPN
abrj-305	164	40	and	and	CCONJ
abrj-305	164	41	usa	usa	PROPN
abrj-305	164	42	categories	category	NOUN
abrj-305	164	43	.	.	PUNCT
abrj-305	165	1	similarly	similarly	ADV
abrj-305	165	2	,	,	PUNCT
abrj-305	165	3	if	if	SCONJ
abrj-305	165	4	the	the	DET
abrj-305	165	5	fund	fund	NOUN
abrj-305	165	6	is	be	AUX
abrj-305	165	7	categorized	categorize	VERB
abrj-305	165	8	as	as	ADP
abrj-305	165	9	global	global	ADJ
abrj-305	165	10	,	,	PUNCT
abrj-305	165	11	the	the	DET
abrj-305	165	12	average	average	ADJ
abrj-305	165	13	risk	risk	NOUN
abrj-305	165	14	increases	increase	NOUN
abrj-305	165	15	by	by	ADP
abrj-305	165	16	0.1601834	0.1601834	NUM
abrj-305	165	17	points	point	NOUN
abrj-305	165	18	,	,	PUNCT
abrj-305	165	19	so	so	SCONJ
abrj-305	165	20	that	that	SCONJ
abrj-305	165	21	the	the	DET
abrj-305	165	22	average	average	ADJ
abrj-305	165	23	value	value	NOUN
abrj-305	165	24	for	for	ADP
abrj-305	165	25	the	the	DET
abrj-305	165	26	environmental	environmental	ADJ
abrj-305	165	27	risk	risk	NOUN
abrj-305	165	28	variable	variable	NOUN
abrj-305	165	29	is	be	AUX
abrj-305	165	30	3.5939	3.5939	NUM
abrj-305	165	31	points	point	NOUN
abrj-305	165	32	.	.	PUNCT
abrj-305	166	1	funds	fund	NOUN
abrj-305	166	2	classified	classify	VERB
abrj-305	166	3	as	as	SCONJ
abrj-305	166	4	global	global	ADJ
abrj-305	166	5	emerging	emerge	VERB
abrj-305	166	6	markets	market	NOUN
abrj-305	166	7	exhibit	exhibit	VERB
abrj-305	166	8	a	a	DET
abrj-305	166	9	more	more	ADV
abrj-305	166	10	pronounced	pronounced	ADJ
abrj-305	166	11	increase	increase	NOUN
abrj-305	166	12	in	in	ADP
abrj-305	166	13	environmental	environmental	ADJ
abrj-305	166	14	risk	risk	NOUN
abrj-305	166	15	,	,	PUNCT
abrj-305	166	16	rising	rise	VERB
abrj-305	166	17	by	by	ADP
abrj-305	166	18	0.9296787	0.9296787	NUM
abrj-305	166	19	points	point	NOUN
abrj-305	166	20	;	;	PUNCT
abrj-305	166	21	so	so	SCONJ
abrj-305	166	22	that	that	SCONJ
abrj-305	166	23	the	the	DET
abrj-305	166	24	average	average	ADJ
abrj-305	166	25	value	value	NOUN
abrj-305	166	26	for	for	ADP
abrj-305	166	27	the	the	DET
abrj-305	166	28	studied	study	VERB
abrj-305	166	29	variable	variable	NOUN
abrj-305	166	30	in	in	ADP
abrj-305	166	31	this	this	DET
abrj-305	166	32	type	type	NOUN
abrj-305	166	33	of	of	ADP
abrj-305	166	34	funds	fund	NOUN
abrj-305	166	35	is	be	AUX
abrj-305	166	36	4.3633787	4.3633787	NUM
abrj-305	166	37	points	point	NOUN
abrj-305	166	38	.	.	PUNCT
abrj-305	167	1	additionally	additionally	ADV
abrj-305	167	2	,	,	PUNCT
abrj-305	167	3	the	the	DET
abrj-305	167	4	type	type	NOUN
abrj-305	167	5	of	of	ADP
abrj-305	167	6	investment	investment	NOUN
abrj-305	167	7	also	also	ADV
abrj-305	167	8	impacts	impact	VERB
abrj-305	167	9	the	the	DET
abrj-305	167	10	risk	risk	NOUN
abrj-305	167	11	.	.	PUNCT
abrj-305	168	1	if	if	SCONJ
abrj-305	168	2	the	the	DET
abrj-305	168	3	fund	fund	NOUN
abrj-305	168	4	is	be	AUX
abrj-305	168	5	equity	equity	NOUN
abrj-305	168	6	,	,	PUNCT
abrj-305	168	7	compared	compare	VERB
abrj-305	168	8	to	to	ADP
abrj-305	168	9	allocation	allocation	NOUN
abrj-305	168	10	,	,	PUNCT
abrj-305	168	11	the	the	DET
abrj-305	168	12	asian	asian	ADJ
abrj-305	168	13	business	business	PROPN
abrj-305	168	14	research	research	NOUN
abrj-305	168	15	journal	journal	NOUN
abrj-305	168	16	,	,	PUNCT
abrj-305	168	17	2025	2025	NUM
abrj-305	168	18	,	,	PUNCT
abrj-305	168	19	10(3	10(3	NUM
abrj-305	168	20	):	):	PUNCT
abrj-305	168	21	33	33	NUM
abrj-305	168	22	-	-	SYM
abrj-305	168	23	44	44	NUM
abrj-305	168	24	41	41	NUM
abrj-305	168	25	©	©	ADP
abrj-305	168	26	2025	2025	NUM
abrj-305	168	27	by	by	ADP
abrj-305	168	28	the	the	DET
abrj-305	168	29	authors	author	NOUN
abrj-305	168	30	;	;	PUNCT
abrj-305	168	31	licensee	licensee	NOUN
abrj-305	168	32	eastern	eastern	ADJ
abrj-305	168	33	centre	centre	NOUN
abrj-305	168	34	of	of	ADP
abrj-305	168	35	science	science	NOUN
abrj-305	168	36	and	and	CCONJ
abrj-305	168	37	education	education	NOUN
abrj-305	168	38	,	,	PUNCT
abrj-305	168	39	usa	usa	PROPN
abrj-305	168	40	average	average	ADJ
abrj-305	168	41	risk	risk	NOUN
abrj-305	168	42	increases	increase	NOUN
abrj-305	168	43	by	by	ADP
abrj-305	168	44	0.2206866	0.2206866	NUM
abrj-305	168	45	points	point	NOUN
abrj-305	168	46	;	;	PUNCT
abrj-305	168	47	so	so	SCONJ
abrj-305	168	48	that	that	SCONJ
abrj-305	168	49	the	the	DET
abrj-305	168	50	average	average	NOUN
abrj-305	168	51	of	of	ADP
abrj-305	168	52	the	the	DET
abrj-305	168	53	environmental	environmental	ADJ
abrj-305	168	54	risk	risk	NOUN
abrj-305	168	55	variable	variable	NOUN
abrj-305	168	56	is	be	AUX
abrj-305	168	57	in	in	ADP
abrj-305	168	58	this	this	DET
abrj-305	168	59	case	case	NOUN
abrj-305	168	60	3.6543866	3.6543866	NUM
abrj-305	168	61	points	point	NOUN
abrj-305	168	62	,	,	PUNCT
abrj-305	168	63	with	with	ADP
abrj-305	168	64	significant	significant	ADJ
abrj-305	168	65	differences	difference	NOUN
abrj-305	168	66	between	between	ADP
abrj-305	168	67	the	the	DET
abrj-305	168	68	equity	equity	NOUN
abrj-305	168	69	and	and	CCONJ
abrj-305	168	70	allocation	allocation	NOUN
abrj-305	168	71	categories	category	NOUN
abrj-305	168	72	.	.	PUNCT
abrj-305	169	1	interactions	interaction	NOUN
abrj-305	169	2	between	between	ADP
abrj-305	169	3	variables	variable	NOUN
abrj-305	169	4	further	far	ADV
abrj-305	169	5	modify	modify	VERB
abrj-305	169	6	the	the	DET
abrj-305	169	7	environmental	environmental	ADJ
abrj-305	169	8	risk	risk	NOUN
abrj-305	169	9	.	.	PUNCT
abrj-305	170	1	for	for	ADP
abrj-305	170	2	instance	instance	NOUN
abrj-305	170	3	,	,	PUNCT
abrj-305	170	4	if	if	SCONJ
abrj-305	170	5	the	the	DET
abrj-305	170	6	fund	fund	NOUN
abrj-305	170	7	is	be	AUX
abrj-305	170	8	both	both	PRON
abrj-305	170	9	fixed	fix	VERB
abrj-305	170	10	and	and	CCONJ
abrj-305	170	11	based	base	VERB
abrj-305	170	12	in	in	ADP
abrj-305	170	13	europe	europe	PROPN
abrj-305	170	14	,	,	PUNCT
abrj-305	170	15	the	the	DET
abrj-305	170	16	environmental	environmental	ADJ
abrj-305	170	17	risk	risk	NOUN
abrj-305	170	18	is	be	AUX
abrj-305	170	19	reduced	reduce	VERB
abrj-305	170	20	by	by	ADP
abrj-305	170	21	0.7405457	0.7405457	NUM
abrj-305	170	22	points	point	NOUN
abrj-305	170	23	,	,	PUNCT
abrj-305	170	24	so	so	SCONJ
abrj-305	170	25	that	that	SCONJ
abrj-305	170	26	the	the	DET
abrj-305	170	27	average	average	ADJ
abrj-305	170	28	value	value	NOUN
abrj-305	170	29	of	of	ADP
abrj-305	170	30	the	the	DET
abrj-305	170	31	studied	studied	ADJ
abrj-305	170	32	variable	variable	NOUN
abrj-305	170	33	in	in	ADP
abrj-305	170	34	this	this	DET
abrj-305	170	35	case	case	NOUN
abrj-305	170	36	is	be	AUX
abrj-305	170	37	calculated	calculate	VERB
abrj-305	170	38	as	as	ADP
abrj-305	170	39	(	(	PUNCT
abrj-305	170	40	3.4337	3.4337	NUM
abrj-305	170	41	0.7405457	0.7405457	NUM
abrj-305	170	42	*	*	NOUN
abrj-305	170	43	fixedeurope	fixedeurope	NOUN
abrj-305	170	44	)	)	PUNCT
abrj-305	171	1	=	=	SYM
abrj-305	171	2	2.6931543	2.6931543	NUM
abrj-305	171	3	points	point	NOUN
abrj-305	171	4	.	.	PUNCT
abrj-305	172	1	a	a	DET
abrj-305	172	2	similar	similar	ADJ
abrj-305	172	3	reduction	reduction	NOUN
abrj-305	172	4	occurs	occur	VERB
abrj-305	172	5	for	for	ADP
abrj-305	172	6	fixed	fix	VERB
abrj-305	172	7	funds	fund	NOUN
abrj-305	172	8	categorized	categorize	VERB
abrj-305	172	9	as	as	ADP
abrj-305	172	10	global	global	ADJ
abrj-305	172	11	,	,	PUNCT
abrj-305	172	12	where	where	SCONJ
abrj-305	172	13	the	the	DET
abrj-305	172	14	risk	risk	NOUN
abrj-305	172	15	decreases	decrease	VERB
abrj-305	172	16	by	by	ADP
abrj-305	172	17	0.6374979	0.6374979	NUM
abrj-305	172	18	points	point	NOUN
abrj-305	172	19	.	.	PUNCT
abrj-305	173	1	in	in	ADP
abrj-305	173	2	this	this	DET
abrj-305	173	3	case	case	NOUN
abrj-305	173	4	,	,	PUNCT
abrj-305	173	5	the	the	DET
abrj-305	173	6	variable	variable	NOUN
abrj-305	173	7	reaches	reach	VERB
abrj-305	173	8	an	an	DET
abrj-305	173	9	average	average	ADJ
abrj-305	173	10	value	value	NOUN
abrj-305	173	11	of	of	ADP
abrj-305	173	12	(	(	PUNCT
abrj-305	173	13	3.4337	3.4337	NUM
abrj-305	173	14	0.6374979	0.6374979	NUM
abrj-305	173	15	*	*	SYM
abrj-305	173	16	fixedglobal	fixedglobal	ADJ
abrj-305	173	17	)	)	PUNCT
abrj-305	173	18	=	=	SYM
abrj-305	173	19	2.7962021	2.7962021	NUM
abrj-305	173	20	points	point	NOUN
abrj-305	173	21	.	.	PUNCT
abrj-305	174	1	conversely	conversely	ADV
abrj-305	174	2	,	,	PUNCT
abrj-305	174	3	equity	equity	NOUN
abrj-305	174	4	funds	fund	NOUN
abrj-305	174	5	based	base	VERB
abrj-305	174	6	in	in	ADP
abrj-305	174	7	china	china	PROPN
abrj-305	174	8	experience	experience	VERB
abrj-305	174	9	a	a	DET
abrj-305	174	10	significant	significant	ADJ
abrj-305	174	11	increase	increase	NOUN
abrj-305	174	12	in	in	ADP
abrj-305	174	13	environmental	environmental	ADJ
abrj-305	174	14	risk	risk	NOUN
abrj-305	174	15	by	by	ADP
abrj-305	174	16	1.265613	1.265613	NUM
abrj-305	174	17	points	point	NOUN
abrj-305	174	18	on	on	ADP
abrj-305	174	19	average	average	ADJ
abrj-305	174	20	,	,	PUNCT
abrj-305	174	21	so	so	SCONJ
abrj-305	174	22	that	that	SCONJ
abrj-305	174	23	in	in	ADP
abrj-305	174	24	this	this	DET
abrj-305	174	25	case	case	NOUN
abrj-305	174	26	,	,	PUNCT
abrj-305	174	27	the	the	DET
abrj-305	174	28	studied	study	VERB
abrj-305	174	29	variable	variable	NOUN
abrj-305	174	30	reaches	reach	VERB
abrj-305	174	31	an	an	DET
abrj-305	174	32	average	average	ADJ
abrj-305	174	33	value	value	NOUN
abrj-305	174	34	of	of	ADP
abrj-305	174	35	(	(	PUNCT
abrj-305	174	36	3.4337	3.4337	NUM
abrj-305	174	37	+	+	NOUN
abrj-305	174	38	1.265613	1.265613	NUM
abrj-305	174	39	*	*	PUNCT
abrj-305	174	40	equitychina	equitychina	PROPN
abrj-305	174	41	)	)	PUNCT
abrj-305	174	42	=	=	NOUN
abrj-305	175	1	4.699313	4.699313	NUM
abrj-305	175	2	points	point	NOUN
abrj-305	175	3	.	.	PUNCT
abrj-305	176	1	equity	equity	NOUN
abrj-305	176	2	funds	fund	NOUN
abrj-305	176	3	based	base	VERB
abrj-305	176	4	in	in	ADP
abrj-305	176	5	europe	europe	PROPN
abrj-305	176	6	also	also	ADV
abrj-305	176	7	see	see	VERB
abrj-305	176	8	an	an	DET
abrj-305	176	9	increase	increase	NOUN
abrj-305	176	10	,	,	PUNCT
abrj-305	176	11	albeit	albeit	SCONJ
abrj-305	176	12	smaller	small	ADJ
abrj-305	176	13	,	,	PUNCT
abrj-305	176	14	by	by	ADP
abrj-305	176	15	0.4469055	0.4469055	NUM
abrj-305	176	16	points	point	NOUN
abrj-305	176	17	,	,	PUNCT
abrj-305	176	18	so	so	SCONJ
abrj-305	176	19	that	that	SCONJ
abrj-305	176	20	the	the	DET
abrj-305	176	21	variable	variable	NOUN
abrj-305	176	22	takes	take	VERB
abrj-305	176	23	an	an	DET
abrj-305	176	24	average	average	ADJ
abrj-305	176	25	value	value	NOUN
abrj-305	176	26	of	of	ADP
abrj-305	176	27	(	(	PUNCT
abrj-305	176	28	3.4337	3.4337	NUM
abrj-305	176	29	+	+	NOUN
abrj-305	176	30	0.4469055	0.4469055	NUM
abrj-305	176	31	*	*	NOUN
abrj-305	176	32	equityeurope	equityeurope	NOUN
abrj-305	176	33	)	)	PUNCT
abrj-305	177	1	=	=	PUNCT
abrj-305	177	2	3.8806055	3.8806055	NUM
abrj-305	177	3	points	point	NOUN
abrj-305	177	4	.	.	PUNCT
abrj-305	178	1	these	these	DET
abrj-305	178	2	interactions	interaction	NOUN
abrj-305	178	3	highlight	highlight	VERB
abrj-305	178	4	how	how	SCONJ
abrj-305	178	5	different	different	ADJ
abrj-305	178	6	geographic	geographic	ADJ
abrj-305	178	7	and	and	CCONJ
abrj-305	178	8	investment	investment	NOUN
abrj-305	178	9	factors	factor	NOUN
abrj-305	178	10	influence	influence	VERB
abrj-305	178	11	the	the	DET
abrj-305	178	12	environmental	environmental	ADJ
abrj-305	178	13	risk	risk	NOUN
abrj-305	178	14	of	of	ADP
abrj-305	178	15	funds	fund	NOUN
abrj-305	178	16	.	.	PUNCT
abrj-305	179	1	figure	figure	VERB
abrj-305	179	2	3	3	NUM
abrj-305	179	3	.	.	PUNCT
abrj-305	179	4	standardized	standardized	ADJ
abrj-305	179	5	coefficients	coefficient	NOUN
abrj-305	179	6	.	.	PUNCT
abrj-305	180	1	table	table	NOUN
abrj-305	180	2	11	11	NUM
abrj-305	180	3	.	.	PUNCT
abrj-305	181	1	interpretation	interpretation	NOUN
abrj-305	181	2	of	of	ADP
abrj-305	181	3	the	the	DET
abrj-305	181	4	environmental	environmental	ADJ
abrj-305	181	5	risk	risk	NOUN
abrj-305	181	6	model	model	NOUN
abrj-305	181	7	figure	figure	NOUN
abrj-305	181	8	4	4	NUM
abrj-305	181	9	.	.	PUNCT
abrj-305	181	10	effect	effect	NOUN
abrj-305	181	11	on	on	ADP
abrj-305	181	12	the	the	DET
abrj-305	181	13	model	model	NOUN
abrj-305	181	14	mean	mean	NOUN
abrj-305	181	15	.	.	PUNCT
abrj-305	182	1	asian	asian	ADJ
abrj-305	182	2	business	business	PROPN
abrj-305	182	3	research	research	NOUN
abrj-305	182	4	journal	journal	NOUN
abrj-305	182	5	,	,	PUNCT
abrj-305	182	6	2025	2025	NUM
abrj-305	182	7	,	,	PUNCT
abrj-305	182	8	10(3	10(3	NUM
abrj-305	182	9	):	):	PUNCT
abrj-305	182	10	33	33	NUM
abrj-305	182	11	-	-	SYM
abrj-305	182	12	44	44	NUM
abrj-305	182	13	42	42	NUM
abrj-305	182	14	©	©	ADP
abrj-305	182	15	2025	2025	NUM
abrj-305	182	16	by	by	ADP
abrj-305	182	17	the	the	DET
abrj-305	182	18	authors	author	NOUN
abrj-305	182	19	;	;	PUNCT
abrj-305	182	20	licensee	licensee	NOUN
abrj-305	182	21	eastern	eastern	ADJ
abrj-305	182	22	centre	centre	NOUN
abrj-305	182	23	of	of	ADP
abrj-305	182	24	science	science	NOUN
abrj-305	182	25	and	and	CCONJ
abrj-305	182	26	education	education	NOUN
abrj-305	182	27	,	,	PUNCT
abrj-305	182	28	usa	usa	PROPN
abrj-305	182	29	7	7	NUM
abrj-305	182	30	.	.	PUNCT
abrj-305	182	31	interpretation	interpretation	NOUN
abrj-305	182	32	of	of	ADP
abrj-305	182	33	social	social	ADJ
abrj-305	182	34	risk	risk	NOUN
abrj-305	182	35	score	score	NOUN
abrj-305	182	36	the	the	DET
abrj-305	182	37	portfolio	portfolio	NOUN
abrj-305	182	38	social	social	ADJ
abrj-305	182	39	risk	risk	NOUN
abrj-305	182	40	score	score	NOUN
abrj-305	182	41	variable	variable	ADJ
abrj-305	182	42	measures	measure	NOUN
abrj-305	182	43	the	the	DET
abrj-305	182	44	social	social	ADJ
abrj-305	182	45	risk	risk	NOUN
abrj-305	182	46	of	of	ADP
abrj-305	182	47	the	the	DET
abrj-305	182	48	portfolio	portfolio	NOUN
abrj-305	182	49	;	;	PUNCT
abrj-305	182	50	in	in	ADP
abrj-305	182	51	this	this	DET
abrj-305	182	52	case	case	NOUN
abrj-305	182	53	,	,	PUNCT
abrj-305	182	54	the	the	DET
abrj-305	182	55	average	average	ADJ
abrj-305	182	56	risk	risk	NOUN
abrj-305	182	57	of	of	ADP
abrj-305	182	58	the	the	DET
abrj-305	182	59	different	different	ADJ
abrj-305	182	60	portfolios	portfolio	NOUN
abrj-305	182	61	included	include	VERB
abrj-305	182	62	in	in	ADP
abrj-305	182	63	the	the	DET
abrj-305	182	64	data	data	NOUN
abrj-305	182	65	reaches	reach	VERB
abrj-305	182	66	a	a	DET
abrj-305	182	67	value	value	NOUN
abrj-305	182	68	of	of	ADP
abrj-305	182	69	8.84548	8.84548	NUM
abrj-305	182	70	points	point	NOUN
abrj-305	182	71	.	.	PUNCT
abrj-305	183	1	several	several	ADJ
abrj-305	183	2	variables	variable	NOUN
abrj-305	183	3	significantly	significantly	ADV
abrj-305	183	4	influence	influence	VERB
abrj-305	183	5	this	this	DET
abrj-305	183	6	score	score	NOUN
abrj-305	183	7	.	.	PUNCT
abrj-305	184	1	the	the	DET
abrj-305	184	2	fund	fund	NOUN
abrj-305	184	3	size	size	NOUN
abrj-305	184	4	in	in	ADP
abrj-305	184	5	base	base	NOUN
abrj-305	184	6	currency	currency	NOUN
abrj-305	184	7	(	(	PUNCT
abrj-305	184	8	fundsizebasecurrency	fundsizebasecurrency	NOUN
abrj-305	184	9	)	)	PUNCT
abrj-305	184	10	has	have	VERB
abrj-305	184	11	a	a	DET
abrj-305	184	12	positive	positive	ADJ
abrj-305	184	13	or	or	CCONJ
abrj-305	184	14	direct	direct	ADJ
abrj-305	184	15	influence	influence	NOUN
abrj-305	184	16	.	.	PUNCT
abrj-305	185	1	for	for	ADP
abrj-305	185	2	each	each	DET
abrj-305	185	3	euro	euro	NOUN
abrj-305	185	4	increase	increase	NOUN
abrj-305	185	5	in	in	ADP
abrj-305	185	6	fund	fund	NOUN
abrj-305	185	7	size	size	NOUN
abrj-305	185	8	,	,	PUNCT
abrj-305	185	9	the	the	DET
abrj-305	185	10	portfolio	portfolio	NOUN
abrj-305	185	11	social	social	ADJ
abrj-305	185	12	risk	risk	NOUN
abrj-305	185	13	score	score	NOUN
abrj-305	185	14	variable	variable	ADJ
abrj-305	185	15	increases	increase	NOUN
abrj-305	185	16	on	on	ADP
abrj-305	185	17	average	average	ADJ
abrj-305	185	18	by	by	ADP
abrj-305	185	19	5.70e-11	5.70e-11	NUM
abrj-305	185	20	points	point	NOUN
abrj-305	185	21	,	,	PUNCT
abrj-305	185	22	provided	provide	VERB
abrj-305	185	23	that	that	SCONJ
abrj-305	185	24	the	the	DET
abrj-305	185	25	remaining	remain	VERB
abrj-305	185	26	variables	variable	NOUN
abrj-305	185	27	remain	remain	VERB
abrj-305	185	28	constant	constant	ADJ
abrj-305	185	29	.	.	PUNCT
abrj-305	186	1	geographic	geographic	ADJ
abrj-305	186	2	location	location	NOUN
abrj-305	186	3	also	also	ADV
abrj-305	186	4	plays	play	VERB
abrj-305	186	5	a	a	DET
abrj-305	186	6	crucial	crucial	ADJ
abrj-305	186	7	role	role	NOUN
abrj-305	186	8	in	in	ADP
abrj-305	186	9	determining	determine	VERB
abrj-305	186	10	social	social	ADJ
abrj-305	186	11	risk	risk	NOUN
abrj-305	186	12	.	.	PUNCT
abrj-305	187	1	if	if	SCONJ
abrj-305	187	2	the	the	DET
abrj-305	187	3	fund	fund	NOUN
abrj-305	187	4	is	be	AUX
abrj-305	187	5	based	base	VERB
abrj-305	187	6	in	in	ADP
abrj-305	187	7	europe	europe	PROPN
abrj-305	187	8	,	,	PUNCT
abrj-305	187	9	the	the	DET
abrj-305	187	10	social	social	ADJ
abrj-305	187	11	risk	risk	NOUN
abrj-305	187	12	is	be	AUX
abrj-305	187	13	reduced	reduce	VERB
abrj-305	187	14	,	,	PUNCT
abrj-305	187	15	on	on	ADP
abrj-305	187	16	average	average	ADJ
abrj-305	187	17	,	,	PUNCT
abrj-305	187	18	by	by	ADP
abrj-305	187	19	1.261423	1.261423	NUM
abrj-305	187	20	points	point	NOUN
abrj-305	187	21	,	,	PUNCT
abrj-305	187	22	resulting	result	VERB
abrj-305	187	23	in	in	ADP
abrj-305	187	24	a	a	DET
abrj-305	187	25	risk	risk	NOUN
abrj-305	187	26	value	value	NOUN
abrj-305	187	27	of	of	ADP
abrj-305	187	28	7.584057	7.584057	NUM
abrj-305	187	29	,	,	PUNCT
abrj-305	187	30	which	which	PRON
abrj-305	187	31	is	be	AUX
abrj-305	187	32	significantly	significantly	ADV
abrj-305	187	33	lower	low	ADJ
abrj-305	187	34	than	than	SCONJ
abrj-305	187	35	if	if	SCONJ
abrj-305	187	36	it	it	PRON
abrj-305	187	37	is	be	AUX
abrj-305	187	38	based	base	VERB
abrj-305	187	39	in	in	ADP
abrj-305	187	40	the	the	DET
abrj-305	187	41	usa	usa	PROPN
abrj-305	187	42	.	.	PROPN
abrj-305	188	1	similarly	similarly	ADV
abrj-305	188	2	,	,	PUNCT
abrj-305	188	3	if	if	SCONJ
abrj-305	188	4	the	the	DET
abrj-305	188	5	fund	fund	NOUN
abrj-305	188	6	is	be	AUX
abrj-305	188	7	based	base	VERB
abrj-305	188	8	in	in	ADP
abrj-305	188	9	asia	asia	PROPN
abrj-305	188	10	,	,	PUNCT
abrj-305	188	11	the	the	DET
abrj-305	188	12	social	social	ADJ
abrj-305	188	13	risk	risk	NOUN
abrj-305	188	14	is	be	AUX
abrj-305	188	15	reduced	reduce	VERB
abrj-305	188	16	by	by	ADP
abrj-305	188	17	0.9339996	0.9339996	NUM
abrj-305	188	18	points	point	NOUN
abrj-305	188	19	,	,	PUNCT
abrj-305	188	20	with	with	ADP
abrj-305	188	21	the	the	DET
abrj-305	188	22	risk	risk	NOUN
abrj-305	188	23	taking	take	VERB
abrj-305	188	24	a	a	DET
abrj-305	188	25	value	value	NOUN
abrj-305	188	26	of	of	ADP
abrj-305	188	27	7.9114804	7.9114804	NUM
abrj-305	188	28	,	,	PUNCT
abrj-305	188	29	also	also	ADV
abrj-305	188	30	significantly	significantly	ADV
abrj-305	188	31	lower	low	ADJ
abrj-305	188	32	than	than	SCONJ
abrj-305	188	33	if	if	SCONJ
abrj-305	188	34	the	the	DET
abrj-305	188	35	fund	fund	NOUN
abrj-305	188	36	is	be	AUX
abrj-305	188	37	based	base	VERB
abrj-305	188	38	in	in	ADP
abrj-305	188	39	the	the	DET
abrj-305	188	40	usa	usa	PROPN
abrj-305	188	41	.	.	PROPN
abrj-305	188	42	for	for	ADP
abrj-305	188	43	global	global	ADJ
abrj-305	188	44	funds	fund	NOUN
abrj-305	188	45	,	,	PUNCT
abrj-305	188	46	the	the	DET
abrj-305	188	47	social	social	ADJ
abrj-305	188	48	risk	risk	NOUN
abrj-305	188	49	is	be	AUX
abrj-305	188	50	reduced	reduce	VERB
abrj-305	188	51	by	by	ADP
abrj-305	188	52	0.8046352	0.8046352	NUM
abrj-305	188	53	points	point	NOUN
abrj-305	188	54	,	,	PUNCT
abrj-305	188	55	resulting	result	VERB
abrj-305	188	56	in	in	ADP
abrj-305	188	57	a	a	DET
abrj-305	188	58	risk	risk	NOUN
abrj-305	188	59	value	value	NOUN
abrj-305	188	60	of	of	ADP
abrj-305	188	61	8.0408448	8.0408448	NUM
abrj-305	188	62	,	,	PUNCT
abrj-305	188	63	which	which	PRON
abrj-305	188	64	is	be	AUX
abrj-305	188	65	again	again	ADV
abrj-305	188	66	significantly	significantly	ADV
abrj-305	188	67	lower	low	ADJ
abrj-305	188	68	than	than	SCONJ
abrj-305	188	69	if	if	SCONJ
abrj-305	188	70	the	the	DET
abrj-305	188	71	fund	fund	NOUN
abrj-305	188	72	is	be	AUX
abrj-305	188	73	based	base	VERB
abrj-305	188	74	in	in	ADP
abrj-305	188	75	the	the	DET
abrj-305	188	76	usa	usa	PROPN
abrj-305	188	77	.	.	PUNCT
abrj-305	188	78	funds	fund	NOUN
abrj-305	188	79	categorized	categorize	VERB
abrj-305	188	80	as	as	SCONJ
abrj-305	188	81	global	global	ADJ
abrj-305	188	82	emerging	emerge	VERB
abrj-305	188	83	markets	market	NOUN
abrj-305	188	84	experience	experience	VERB
abrj-305	188	85	a	a	DET
abrj-305	188	86	reduction	reduction	NOUN
abrj-305	188	87	in	in	ADP
abrj-305	188	88	social	social	ADJ
abrj-305	188	89	risk	risk	NOUN
abrj-305	188	90	by	by	ADP
abrj-305	188	91	0.6936723	0.6936723	NUM
abrj-305	188	92	points	point	NOUN
abrj-305	188	93	,	,	PUNCT
abrj-305	188	94	leading	lead	VERB
abrj-305	188	95	to	to	ADP
abrj-305	188	96	a	a	DET
abrj-305	188	97	risk	risk	NOUN
abrj-305	188	98	value	value	NOUN
abrj-305	188	99	of	of	ADP
abrj-305	188	100	8.1518077	8.1518077	NUM
abrj-305	188	101	,	,	PUNCT
abrj-305	188	102	which	which	PRON
abrj-305	188	103	is	be	AUX
abrj-305	188	104	also	also	ADV
abrj-305	188	105	lower	low	ADJ
abrj-305	188	106	than	than	SCONJ
abrj-305	188	107	if	if	SCONJ
abrj-305	188	108	the	the	DET
abrj-305	188	109	fund	fund	NOUN
abrj-305	188	110	is	be	AUX
abrj-305	188	111	based	base	VERB
abrj-305	188	112	in	in	ADP
abrj-305	188	113	the	the	DET
abrj-305	188	114	usa	usa	PROPN
abrj-305	188	115	.	.	PROPN
abrj-305	189	1	in	in	ADP
abrj-305	189	2	terms	term	NOUN
abrj-305	189	3	of	of	ADP
abrj-305	189	4	investment	investment	NOUN
abrj-305	189	5	categories	category	NOUN
abrj-305	189	6	,	,	PUNCT
abrj-305	189	7	fixed	fix	VERB
abrj-305	189	8	funds	fund	NOUN
abrj-305	189	9	show	show	VERB
abrj-305	189	10	a	a	DET
abrj-305	189	11	reduction	reduction	NOUN
abrj-305	189	12	in	in	ADP
abrj-305	189	13	average	average	ADJ
abrj-305	189	14	social	social	ADJ
abrj-305	189	15	risk	risk	NOUN
abrj-305	189	16	by	by	ADP
abrj-305	189	17	0.6982014	0.6982014	NUM
abrj-305	189	18	points	point	NOUN
abrj-305	189	19	,	,	PUNCT
abrj-305	189	20	reaching	reach	VERB
abrj-305	189	21	a	a	DET
abrj-305	189	22	value	value	NOUN
abrj-305	189	23	of	of	ADP
abrj-305	189	24	8.1472786	8.1472786	NUM
abrj-305	189	25	,	,	PUNCT
abrj-305	189	26	which	which	PRON
abrj-305	189	27	is	be	AUX
abrj-305	189	28	significantly	significantly	ADV
abrj-305	189	29	lower	low	ADJ
abrj-305	189	30	than	than	SCONJ
abrj-305	189	31	if	if	SCONJ
abrj-305	189	32	the	the	DET
abrj-305	189	33	fund	fund	NOUN
abrj-305	189	34	is	be	AUX
abrj-305	189	35	categorized	categorize	VERB
abrj-305	189	36	as	as	ADP
abrj-305	189	37	allocation	allocation	NOUN
abrj-305	189	38	.	.	PUNCT
abrj-305	190	1	interactions	interaction	NOUN
abrj-305	190	2	between	between	ADP
abrj-305	190	3	variables	variable	NOUN
abrj-305	190	4	further	far	ADV
abrj-305	190	5	modify	modify	VERB
abrj-305	190	6	the	the	DET
abrj-305	190	7	social	social	ADJ
abrj-305	190	8	risk	risk	NOUN
abrj-305	190	9	.	.	PUNCT
abrj-305	191	1	for	for	ADP
abrj-305	191	2	instance	instance	NOUN
abrj-305	191	3	,	,	PUNCT
abrj-305	191	4	if	if	SCONJ
abrj-305	191	5	the	the	DET
abrj-305	191	6	fund	fund	NOUN
abrj-305	191	7	is	be	AUX
abrj-305	191	8	both	both	PRON
abrj-305	191	9	fixed	fix	VERB
abrj-305	191	10	and	and	CCONJ
abrj-305	191	11	based	base	VERB
abrj-305	191	12	in	in	ADP
abrj-305	191	13	europe	europe	PROPN
abrj-305	191	14	,	,	PUNCT
abrj-305	191	15	the	the	DET
abrj-305	191	16	average	average	ADJ
abrj-305	191	17	social	social	ADJ
abrj-305	191	18	risk	risk	NOUN
abrj-305	191	19	reaches	reach	VERB
abrj-305	191	20	a	a	DET
abrj-305	191	21	value	value	NOUN
abrj-305	191	22	of	of	ADP
abrj-305	191	23	(	(	PUNCT
abrj-305	191	24	8.84548	8.84548	NUM
abrj-305	191	25	0.6982014fixed	0.6982014fixed	ADJ
abrj-305	191	26	+	+	NUM
abrj-305	191	27	0.393866fixedeurope	0.393866fixedeurope	NOUN
abrj-305	191	28	)	)	PUNCT
abrj-305	192	1	=	=	PUNCT
abrj-305	192	2	8.5411446	8.5411446	NUM
abrj-305	192	3	points	point	NOUN
abrj-305	192	4	.	.	PUNCT
abrj-305	193	1	a	a	DET
abrj-305	193	2	more	more	ADV
abrj-305	193	3	pronounced	pronounced	ADJ
abrj-305	193	4	reduction	reduction	NOUN
abrj-305	193	5	occurs	occur	VERB
abrj-305	193	6	for	for	ADP
abrj-305	193	7	fixed	fix	VERB
abrj-305	193	8	funds	fund	NOUN
abrj-305	193	9	based	base	VERB
abrj-305	193	10	in	in	ADP
abrj-305	193	11	asia	asia	PROPN
abrj-305	193	12	,	,	PUNCT
abrj-305	193	13	where	where	SCONJ
abrj-305	193	14	the	the	DET
abrj-305	193	15	risk	risk	NOUN
abrj-305	193	16	reaches	reach	VERB
abrj-305	193	17	a	a	DET
abrj-305	193	18	value	value	NOUN
abrj-305	193	19	of	of	ADP
abrj-305	193	20	(	(	PUNCT
abrj-305	193	21	8.84548	8.84548	NUM
abrj-305	193	22	0.6982014fixed	0.6982014fixed	NUM
abrj-305	193	23	1.486803	1.486803	NUM
abrj-305	193	24	fixedasia	fixedasia	NOUN
abrj-305	193	25	)	)	PUNCT
abrj-305	193	26	=	=	NOUN
abrj-305	194	1	6.6604756	6.6604756	NUM
abrj-305	194	2	points	point	NOUN
abrj-305	194	3	.	.	PUNCT
abrj-305	195	1	for	for	ADP
abrj-305	195	2	fixed	fix	VERB
abrj-305	195	3	funds	fund	NOUN
abrj-305	195	4	categorized	categorize	VERB
abrj-305	195	5	as	as	ADP
abrj-305	195	6	global	global	ADJ
abrj-305	195	7	in	in	ADP
abrj-305	195	8	emerging	emerge	VERB
abrj-305	195	9	markets	market	NOUN
abrj-305	195	10	,	,	PUNCT
abrj-305	195	11	the	the	DET
abrj-305	195	12	risk	risk	NOUN
abrj-305	195	13	is	be	AUX
abrj-305	195	14	significantly	significantly	ADV
abrj-305	195	15	reduced	reduce	VERB
abrj-305	195	16	to	to	ADP
abrj-305	195	17	(	(	PUNCT
abrj-305	195	18	8.84548	8.84548	NUM
abrj-305	195	19	0.6982014fixed	0.6982014fixed	NUM
abrj-305	195	20	3.082935	3.082935	NUM
abrj-305	195	21	fixedglobalemergingmarket	fixedglobalemergingmarket	NOUN
abrj-305	195	22	)	)	PUNCT
abrj-305	196	1	=	=	PUNCT
abrj-305	196	2	5.0643436	5.0643436	NUM
abrj-305	196	3	points	point	NOUN
abrj-305	196	4	.	.	PUNCT
abrj-305	197	1	conversely	conversely	ADV
abrj-305	197	2	,	,	PUNCT
abrj-305	197	3	equity	equity	NOUN
abrj-305	197	4	funds	fund	NOUN
abrj-305	197	5	located	locate	VERB
abrj-305	197	6	in	in	ADP
abrj-305	197	7	china	china	PROPN
abrj-305	197	8	experience	experience	VERB
abrj-305	197	9	an	an	DET
abrj-305	197	10	increase	increase	NOUN
abrj-305	197	11	in	in	ADP
abrj-305	197	12	social	social	ADJ
abrj-305	197	13	risk	risk	NOUN
abrj-305	197	14	,	,	PUNCT
abrj-305	197	15	reaching	reach	VERB
abrj-305	197	16	a	a	DET
abrj-305	197	17	value	value	NOUN
abrj-305	197	18	of	of	ADP
abrj-305	197	19	(	(	PUNCT
abrj-305	197	20	8.84548	8.84548	NUM
abrj-305	197	21	+	+	NOUN
abrj-305	197	22	0.7308476	0.7308476	NUM
abrj-305	197	23	*	*	PUNCT
abrj-305	197	24	equitychina	equitychina	ADJ
abrj-305	197	25	)	)	PUNCT
abrj-305	197	26	=	=	SYM
abrj-305	197	27	9.5763276	9.5763276	NUM
abrj-305	197	28	points	point	NOUN
abrj-305	197	29	.	.	PUNCT
abrj-305	198	1	these	these	DET
abrj-305	198	2	interactions	interaction	NOUN
abrj-305	198	3	highlight	highlight	VERB
abrj-305	198	4	how	how	SCONJ
abrj-305	198	5	different	different	ADJ
abrj-305	198	6	geographic	geographic	ADJ
abrj-305	198	7	and	and	CCONJ
abrj-305	198	8	investment	investment	NOUN
abrj-305	198	9	factors	factor	NOUN
abrj-305	198	10	influence	influence	VERB
abrj-305	198	11	the	the	DET
abrj-305	198	12	social	social	ADJ
abrj-305	198	13	risk	risk	NOUN
abrj-305	198	14	of	of	ADP
abrj-305	198	15	funds	fund	NOUN
abrj-305	198	16	.	.	PUNCT
abrj-305	199	1	figure	figure	NOUN
abrj-305	199	2	5	5	NUM
abrj-305	199	3	.	.	PUNCT
abrj-305	199	4	standardized	standardized	ADJ
abrj-305	199	5	coefficients	coefficient	NOUN
abrj-305	199	6	.	.	PUNCT
abrj-305	200	1	table	table	NOUN
abrj-305	200	2	12	12	NUM
abrj-305	200	3	.	.	PUNCT
abrj-305	201	1	interpretation	interpretation	NOUN
abrj-305	201	2	of	of	ADP
abrj-305	201	3	the	the	DET
abrj-305	201	4	social	social	ADJ
abrj-305	201	5	risk	risk	NOUN
abrj-305	201	6	model	model	NOUN
abrj-305	201	7	.	.	PUNCT
abrj-305	202	1	asian	asian	ADJ
abrj-305	202	2	business	business	PROPN
abrj-305	202	3	research	research	NOUN
abrj-305	202	4	journal	journal	NOUN
abrj-305	202	5	,	,	PUNCT
abrj-305	202	6	2025	2025	NUM
abrj-305	202	7	,	,	PUNCT
abrj-305	202	8	10(3	10(3	NUM
abrj-305	202	9	):	):	PUNCT
abrj-305	202	10	33	33	NUM
abrj-305	202	11	-	-	SYM
abrj-305	202	12	44	44	NUM
abrj-305	202	13	43	43	NUM
abrj-305	202	14	©	©	ADP
abrj-305	202	15	2025	2025	NUM
abrj-305	202	16	by	by	ADP
abrj-305	202	17	the	the	DET
abrj-305	202	18	authors	author	NOUN
abrj-305	202	19	;	;	PUNCT
abrj-305	202	20	licensee	licensee	NOUN
abrj-305	202	21	eastern	eastern	ADJ
abrj-305	202	22	centre	centre	NOUN
abrj-305	202	23	of	of	ADP
abrj-305	202	24	science	science	NOUN
abrj-305	202	25	and	and	CCONJ
abrj-305	202	26	education	education	NOUN
abrj-305	202	27	,	,	PUNCT
abrj-305	202	28	usa	usa	PROPN
abrj-305	202	29	figure	figure	NOUN
abrj-305	202	30	6	6	NUM
abrj-305	202	31	.	.	PUNCT
abrj-305	202	32	effect	effect	NOUN
abrj-305	202	33	on	on	ADP
abrj-305	202	34	the	the	DET
abrj-305	202	35	model	model	NOUN
abrj-305	202	36	mean	mean	NOUN
abrj-305	202	37	.	.	PUNCT
abrj-305	203	1	8	8	X
abrj-305	203	2	.	.	PUNCT
abrj-305	203	3	conclusions	conclusion	NOUN
abrj-305	203	4	this	this	DET
abrj-305	203	5	study	study	NOUN
abrj-305	203	6	makes	make	VERB
abrj-305	203	7	significant	significant	ADJ
abrj-305	203	8	contributions	contribution	NOUN
abrj-305	203	9	to	to	ADP
abrj-305	203	10	understanding	understanding	NOUN
abrj-305	203	11	of	of	ADP
abrj-305	203	12	how	how	SCONJ
abrj-305	203	13	fund	fund	NOUN
abrj-305	203	14	characteristics	characteristics	PROPN
abrj-305	203	15	influence	influence	NOUN
abrj-305	203	16	environmental	environmental	ADJ
abrj-305	203	17	,	,	PUNCT
abrj-305	203	18	social	social	ADJ
abrj-305	203	19	,	,	PUNCT
abrj-305	203	20	and	and	CCONJ
abrj-305	203	21	governance	governance	NOUN
abrj-305	203	22	(	(	PUNCT
abrj-305	203	23	esg	esg	NOUN
abrj-305	203	24	)	)	PUNCT
abrj-305	203	25	risks	risk	NOUN
abrj-305	203	26	in	in	ADP
abrj-305	203	27	investment	investment	NOUN
abrj-305	203	28	portfolios	portfolio	NOUN
abrj-305	203	29	.	.	PUNCT
abrj-305	204	1	through	through	ADP
abrj-305	204	2	a	a	DET
abrj-305	204	3	comprehensive	comprehensive	ADJ
abrj-305	204	4	analysis	analysis	NOUN
abrj-305	204	5	of	of	ADP
abrj-305	204	6	1,737	1,737	NUM
abrj-305	204	7	sustainable	sustainable	ADJ
abrj-305	204	8	investment	investment	NOUN
abrj-305	204	9	funds	fund	NOUN
abrj-305	204	10	,	,	PUNCT
abrj-305	204	11	utilizing	utilize	VERB
abrj-305	204	12	data	datum	NOUN
abrj-305	204	13	from	from	ADP
abrj-305	204	14	morningstar	morningstar	PROPN
abrj-305	204	15	direct	direct	PROPN
abrj-305	204	16	,	,	PUNCT
abrj-305	204	17	we	we	PRON
abrj-305	204	18	have	have	AUX
abrj-305	204	19	uncovered	uncover	VERB
abrj-305	204	20	several	several	ADJ
abrj-305	204	21	important	important	ADJ
abrj-305	204	22	relationships	relationship	NOUN
abrj-305	204	23	between	between	ADP
abrj-305	204	24	fund	fund	NOUN
abrj-305	204	25	attributes	attribute	NOUN
abrj-305	204	26	and	and	CCONJ
abrj-305	204	27	esg	esg	NOUN
abrj-305	204	28	risk	risk	NOUN
abrj-305	204	29	profiles	profile	NOUN
abrj-305	204	30	.	.	PUNCT
abrj-305	205	1	our	our	PRON
abrj-305	205	2	findings	finding	NOUN
abrj-305	205	3	have	have	VERB
abrj-305	205	4	substantial	substantial	ADJ
abrj-305	205	5	implications	implication	NOUN
abrj-305	205	6	for	for	ADP
abrj-305	205	7	investment	investment	NOUN
abrj-305	205	8	decision	decision	NOUN
abrj-305	205	9	-	-	PUNCT
abrj-305	205	10	making	make	VERB
abrj-305	205	11	and	and	CCONJ
abrj-305	205	12	portfolio	portfolio	NOUN
abrj-305	205	13	management	management	NOUN
abrj-305	205	14	in	in	ADP
abrj-305	205	15	the	the	DET
abrj-305	205	16	context	context	NOUN
abrj-305	205	17	of	of	ADP
abrj-305	205	18	sustainable	sustainable	ADJ
abrj-305	205	19	finance	finance	NOUN
abrj-305	205	20	.	.	PUNCT
abrj-305	206	1	the	the	DET
abrj-305	206	2	analysis	analysis	NOUN
abrj-305	206	3	reveals	reveal	VERB
abrj-305	206	4	that	that	SCONJ
abrj-305	206	5	fund	fund	NOUN
abrj-305	206	6	size	size	NOUN
abrj-305	206	7	significantly	significantly	ADV
abrj-305	206	8	impacts	impact	VERB
abrj-305	206	9	governance	governance	NOUN
abrj-305	206	10	risk	risk	NOUN
abrj-305	206	11	,	,	PUNCT
abrj-305	206	12	with	with	ADP
abrj-305	206	13	larger	large	ADJ
abrj-305	206	14	funds	fund	NOUN
abrj-305	206	15	experiencing	experience	VERB
abrj-305	206	16	greater	great	ADJ
abrj-305	206	17	challenges	challenge	NOUN
abrj-305	206	18	in	in	ADP
abrj-305	206	19	managing	manage	VERB
abrj-305	206	20	governance	governance	NOUN
abrj-305	206	21	-	-	PUNCT
abrj-305	206	22	related	relate	VERB
abrj-305	206	23	issues	issue	NOUN
abrj-305	206	24	.	.	PUNCT
abrj-305	207	1	this	this	DET
abrj-305	207	2	finding	finding	NOUN
abrj-305	207	3	suggests	suggest	VERB
abrj-305	207	4	that	that	SCONJ
abrj-305	207	5	as	as	SCONJ
abrj-305	207	6	funds	fund	NOUN
abrj-305	207	7	grow	grow	VERB
abrj-305	207	8	,	,	PUNCT
abrj-305	207	9	they	they	PRON
abrj-305	207	10	may	may	AUX
abrj-305	207	11	need	need	VERB
abrj-305	207	12	to	to	PART
abrj-305	207	13	implement	implement	VERB
abrj-305	207	14	more	more	ADV
abrj-305	207	15	sophisticated	sophisticated	ADJ
abrj-305	207	16	governance	governance	NOUN
abrj-305	207	17	structures	structure	NOUN
abrj-305	207	18	and	and	CCONJ
abrj-305	207	19	risk	risk	NOUN
abrj-305	207	20	management	management	NOUN
abrj-305	207	21	frameworks	framework	NOUN
abrj-305	207	22	.	.	PUNCT
abrj-305	208	1	however	however	ADV
abrj-305	208	2	,	,	PUNCT
abrj-305	208	3	the	the	DET
abrj-305	208	4	relationship	relationship	NOUN
abrj-305	208	5	between	between	ADP
abrj-305	208	6	fund	fund	NOUN
abrj-305	208	7	size	size	NOUN
abrj-305	208	8	and	and	CCONJ
abrj-305	208	9	environmental	environmental	ADJ
abrj-305	208	10	or	or	CCONJ
abrj-305	208	11	social	social	ADJ
abrj-305	208	12	risks	risk	NOUN
abrj-305	208	13	appears	appear	VERB
abrj-305	208	14	to	to	PART
abrj-305	208	15	be	be	AUX
abrj-305	208	16	less	less	ADV
abrj-305	208	17	pronounced	pronounce	VERB
abrj-305	208	18	,	,	PUNCT
abrj-305	208	19	indicating	indicate	VERB
abrj-305	208	20	that	that	SCONJ
abrj-305	208	21	these	these	DET
abrj-305	208	22	dimensions	dimension	NOUN
abrj-305	208	23	of	of	ADP
abrj-305	208	24	esg	esg	PROPN
abrj-305	208	25	risk	risk	NOUN
abrj-305	208	26	may	may	AUX
abrj-305	208	27	be	be	AUX
abrj-305	208	28	more	more	ADV
abrj-305	208	29	influenced	influence	VERB
abrj-305	208	30	by	by	ADP
abrj-305	208	31	other	other	ADJ
abrj-305	208	32	factors	factor	NOUN
abrj-305	208	33	.	.	PUNCT
abrj-305	209	1	our	our	PRON
abrj-305	209	2	investigation	investigation	NOUN
abrj-305	209	3	of	of	ADP
abrj-305	209	4	fund	fund	NOUN
abrj-305	209	5	categories	category	NOUN
abrj-305	209	6	yields	yield	VERB
abrj-305	209	7	notable	notable	ADJ
abrj-305	209	8	insights	insight	NOUN
abrj-305	209	9	,	,	PUNCT
abrj-305	209	10	particularly	particularly	ADV
abrj-305	209	11	regarding	regard	VERB
abrj-305	209	12	the	the	DET
abrj-305	209	13	distribution	distribution	NOUN
abrj-305	209	14	of	of	ADP
abrj-305	209	15	esg	esg	PROPN
abrj-305	209	16	risks	risk	NOUN
abrj-305	209	17	across	across	ADP
abrj-305	209	18	different	different	ADJ
abrj-305	209	19	investment	investment	NOUN
abrj-305	209	20	vehicles	vehicle	NOUN
abrj-305	209	21	.	.	PUNCT
abrj-305	210	1	global	global	ADJ
abrj-305	210	2	emerging	emerge	VERB
abrj-305	210	3	market	market	NOUN
abrj-305	210	4	and	and	CCONJ
abrj-305	210	5	equity	equity	NOUN
abrj-305	210	6	funds	fund	NOUN
abrj-305	210	7	demonstrate	demonstrate	VERB
abrj-305	210	8	higher	high	ADJ
abrj-305	210	9	governance	governance	NOUN
abrj-305	210	10	and	and	CCONJ
abrj-305	210	11	environmental	environmental	ADJ
abrj-305	210	12	risks	risk	NOUN
abrj-305	210	13	compared	compare	VERB
abrj-305	210	14	to	to	ADP
abrj-305	210	15	their	their	PRON
abrj-305	210	16	allocation	allocation	NOUN
abrj-305	210	17	and	and	CCONJ
abrj-305	210	18	usa	usa	PROPN
abrj-305	210	19	-	-	PUNCT
abrj-305	210	20	focused	focus	VERB
abrj-305	210	21	counterparts	counterpart	NOUN
abrj-305	210	22	.	.	PUNCT
abrj-305	211	1	conversely	conversely	ADV
abrj-305	211	2	,	,	PUNCT
abrj-305	211	3	fixed	fixed	ADJ
abrj-305	211	4	income	income	NOUN
abrj-305	211	5	and	and	CCONJ
abrj-305	211	6	european	european	ADJ
abrj-305	211	7	funds	fund	NOUN
abrj-305	211	8	generally	generally	ADV
abrj-305	211	9	exhibit	exhibit	VERB
abrj-305	211	10	lower	low	ADJ
abrj-305	211	11	esg	esg	NOUN
abrj-305	211	12	risk	risk	NOUN
abrj-305	211	13	profiles	profile	NOUN
abrj-305	211	14	,	,	PUNCT
abrj-305	211	15	suggesting	suggest	VERB
abrj-305	211	16	that	that	SCONJ
abrj-305	211	17	these	these	DET
abrj-305	211	18	categories	category	NOUN
abrj-305	211	19	may	may	AUX
abrj-305	211	20	be	be	AUX
abrj-305	211	21	more	more	ADV
abrj-305	211	22	effective	effective	ADJ
abrj-305	211	23	at	at	ADP
abrj-305	211	24	managing	manage	VERB
abrj-305	211	25	sustainability	sustainability	NOUN
abrj-305	211	26	-	-	PUNCT
abrj-305	211	27	related	relate	VERB
abrj-305	211	28	challenges	challenge	NOUN
abrj-305	211	29	.	.	PUNCT
abrj-305	212	1	these	these	DET
abrj-305	212	2	findings	finding	NOUN
abrj-305	212	3	highlight	highlight	VERB
abrj-305	212	4	the	the	DET
abrj-305	212	5	importance	importance	NOUN
abrj-305	212	6	of	of	ADP
abrj-305	212	7	considering	consider	VERB
abrj-305	212	8	fund	fund	NOUN
abrj-305	212	9	category	category	NOUN
abrj-305	212	10	when	when	SCONJ
abrj-305	212	11	constructing	construct	VERB
abrj-305	212	12	sustainable	sustainable	ADJ
abrj-305	212	13	investment	investment	NOUN
abrj-305	212	14	portfolios	portfolio	NOUN
abrj-305	212	15	.	.	PUNCT
abrj-305	213	1	the	the	DET
abrj-305	213	2	geographical	geographical	ADJ
abrj-305	213	3	focus	focus	NOUN
abrj-305	213	4	of	of	ADP
abrj-305	213	5	funds	fund	NOUN
abrj-305	213	6	emerges	emerge	VERB
abrj-305	213	7	as	as	ADP
abrj-305	213	8	a	a	DET
abrj-305	213	9	crucial	crucial	ADJ
abrj-305	213	10	determinant	determinant	NOUN
abrj-305	213	11	of	of	ADP
abrj-305	213	12	esg	esg	PROPN
abrj-305	213	13	risk	risk	NOUN
abrj-305	213	14	exposure	exposure	NOUN
abrj-305	213	15	.	.	PUNCT
abrj-305	214	1	funds	fund	NOUN
abrj-305	214	2	invested	invest	VERB
abrj-305	214	3	in	in	ADP
abrj-305	214	4	asian	asian	ADJ
abrj-305	214	5	and	and	CCONJ
abrj-305	214	6	global	global	ADJ
abrj-305	214	7	emerging	emerge	VERB
abrj-305	214	8	markets	market	NOUN
abrj-305	214	9	show	show	VERB
abrj-305	214	10	elevated	elevated	ADJ
abrj-305	214	11	environmental	environmental	ADJ
abrj-305	214	12	and	and	CCONJ
abrj-305	214	13	social	social	ADJ
abrj-305	214	14	risks	risk	NOUN
abrj-305	214	15	,	,	PUNCT
abrj-305	214	16	while	while	SCONJ
abrj-305	214	17	those	those	PRON
abrj-305	214	18	focused	focus	VERB
abrj-305	214	19	on	on	ADP
abrj-305	214	20	european	european	ADJ
abrj-305	214	21	and	and	CCONJ
abrj-305	214	22	global	global	ADJ
abrj-305	214	23	markets	market	NOUN
abrj-305	214	24	generally	generally	ADV
abrj-305	214	25	demonstrate	demonstrate	VERB
abrj-305	214	26	lower	low	ADJ
abrj-305	214	27	social	social	ADJ
abrj-305	214	28	risk	risk	NOUN
abrj-305	214	29	profiles	profile	NOUN
abrj-305	214	30	.	.	PUNCT
abrj-305	215	1	this	this	DET
abrj-305	215	2	geographic	geographic	ADJ
abrj-305	215	3	variation	variation	NOUN
abrj-305	215	4	in	in	ADP
abrj-305	215	5	esg	esg	PROPN
abrj-305	215	6	risk	risk	NOUN
abrj-305	215	7	exposure	exposure	NOUN
abrj-305	215	8	underscores	underscore	VERB
abrj-305	215	9	the	the	DET
abrj-305	215	10	need	need	NOUN
abrj-305	215	11	for	for	SCONJ
abrj-305	215	12	investors	investor	NOUN
abrj-305	215	13	to	to	PART
abrj-305	215	14	carefully	carefully	ADV
abrj-305	215	15	consider	consider	VERB
abrj-305	215	16	regional	regional	ADJ
abrj-305	215	17	factors	factor	NOUN
abrj-305	215	18	when	when	SCONJ
abrj-305	215	19	making	make	VERB
abrj-305	215	20	allocation	allocation	NOUN
abrj-305	215	21	decisions	decision	NOUN
abrj-305	215	22	.	.	PUNCT
abrj-305	216	1	the	the	DET
abrj-305	216	2	implications	implication	NOUN
abrj-305	216	3	of	of	ADP
abrj-305	216	4	our	our	PRON
abrj-305	216	5	findings	finding	NOUN
abrj-305	216	6	extend	extend	VERB
abrj-305	216	7	beyond	beyond	ADP
abrj-305	216	8	academic	academic	ADJ
abrj-305	216	9	interest	interest	NOUN
abrj-305	216	10	to	to	ADP
abrj-305	216	11	practical	practical	ADJ
abrj-305	216	12	application	application	NOUN
abrj-305	216	13	in	in	ADP
abrj-305	216	14	investment	investment	NOUN
abrj-305	216	15	management	management	NOUN
abrj-305	216	16	.	.	PUNCT
abrj-305	217	1	for	for	ADP
abrj-305	217	2	institutional	institutional	ADJ
abrj-305	217	3	investors	investor	NOUN
abrj-305	217	4	and	and	CCONJ
abrj-305	217	5	fund	fund	NOUN
abrj-305	217	6	managers	manager	NOUN
abrj-305	217	7	,	,	PUNCT
abrj-305	217	8	our	our	PRON
abrj-305	217	9	results	result	NOUN
abrj-305	217	10	suggest	suggest	VERB
abrj-305	217	11	the	the	DET
abrj-305	217	12	importance	importance	NOUN
abrj-305	217	13	of	of	ADP
abrj-305	217	14	implementing	implement	VERB
abrj-305	217	15	robust	robust	ADJ
abrj-305	217	16	esg	esg	NOUN
abrj-305	217	17	risk	risk	NOUN
abrj-305	217	18	management	management	NOUN
abrj-305	217	19	frameworks	framework	NOUN
abrj-305	217	20	,	,	PUNCT
abrj-305	217	21	particularly	particularly	ADV
abrj-305	217	22	in	in	ADP
abrj-305	217	23	larger	large	ADJ
abrj-305	217	24	funds	fund	NOUN
abrj-305	217	25	and	and	CCONJ
abrj-305	217	26	those	those	PRON
abrj-305	217	27	with	with	ADP
abrj-305	217	28	exposure	exposure	NOUN
abrj-305	217	29	to	to	ADP
abrj-305	217	30	emerging	emerge	VERB
abrj-305	217	31	markets	market	NOUN
abrj-305	217	32	.	.	PUNCT
abrj-305	218	1	the	the	DET
abrj-305	218	2	study	study	NOUN
abrj-305	218	3	also	also	ADV
abrj-305	218	4	provides	provide	VERB
abrj-305	218	5	valuable	valuable	ADJ
abrj-305	218	6	insights	insight	NOUN
abrj-305	218	7	for	for	ADP
abrj-305	218	8	regulatory	regulatory	ADJ
abrj-305	218	9	bodies	body	NOUN
abrj-305	218	10	and	and	CCONJ
abrj-305	218	11	policymakers	policymaker	NOUN
abrj-305	218	12	,	,	PUNCT
abrj-305	218	13	highlighting	highlight	VERB
abrj-305	218	14	areas	area	NOUN
abrj-305	218	15	where	where	SCONJ
abrj-305	218	16	additional	additional	ADJ
abrj-305	218	17	oversight	oversight	NOUN
abrj-305	218	18	or	or	CCONJ
abrj-305	218	19	guidance	guidance	NOUN
abrj-305	218	20	may	may	AUX
abrj-305	218	21	be	be	AUX
abrj-305	218	22	beneficial	beneficial	ADJ
abrj-305	218	23	in	in	ADP
abrj-305	218	24	promoting	promote	VERB
abrj-305	218	25	sustainable	sustainable	ADJ
abrj-305	218	26	investment	investment	NOUN
abrj-305	218	27	practices	practice	NOUN
abrj-305	218	28	.	.	PUNCT
abrj-305	219	1	looking	look	VERB
abrj-305	219	2	ahead	ahead	ADV
abrj-305	219	3	,	,	PUNCT
abrj-305	219	4	several	several	ADJ
abrj-305	219	5	avenues	avenue	NOUN
abrj-305	219	6	for	for	ADP
abrj-305	219	7	future	future	ADJ
abrj-305	219	8	research	research	NOUN
abrj-305	219	9	emerge	emerge	VERB
abrj-305	219	10	from	from	ADP
abrj-305	219	11	our	our	PRON
abrj-305	219	12	findings	finding	NOUN
abrj-305	219	13	.	.	PUNCT
abrj-305	220	1	first	first	ADV
abrj-305	220	2	,	,	PUNCT
abrj-305	220	3	investigating	investigate	VERB
abrj-305	220	4	the	the	DET
abrj-305	220	5	temporal	temporal	ADJ
abrj-305	220	6	dynamics	dynamic	NOUN
abrj-305	220	7	of	of	ADP
abrj-305	220	8	esg	esg	PROPN
abrj-305	220	9	risks	risk	NOUN
abrj-305	220	10	across	across	ADP
abrj-305	220	11	different	different	ADJ
abrj-305	220	12	fund	fund	NOUN
abrj-305	220	13	characteristics	characteristic	NOUN
abrj-305	220	14	could	could	AUX
abrj-305	220	15	provide	provide	VERB
abrj-305	220	16	insights	insight	NOUN
abrj-305	220	17	into	into	ADP
abrj-305	220	18	how	how	SCONJ
abrj-305	220	19	these	these	DET
abrj-305	220	20	relationships	relationship	NOUN
abrj-305	220	21	evolve	evolve	VERB
abrj-305	220	22	over	over	ADP
abrj-305	220	23	time	time	NOUN
abrj-305	220	24	.	.	PUNCT
abrj-305	221	1	second	second	ADV
abrj-305	221	2	,	,	PUNCT
abrj-305	221	3	examining	examine	VERB
abrj-305	221	4	the	the	DET
abrj-305	221	5	interaction	interaction	NOUN
abrj-305	221	6	between	between	ADP
abrj-305	221	7	fund	fund	NOUN
abrj-305	221	8	management	management	NOUN
abrj-305	221	9	strategies	strategy	NOUN
abrj-305	221	10	and	and	CCONJ
abrj-305	221	11	esg	esg	NOUN
abrj-305	221	12	performance	performance	NOUN
abrj-305	221	13	could	could	AUX
abrj-305	221	14	yield	yield	VERB
abrj-305	221	15	valuable	valuable	ADJ
abrj-305	221	16	insights	insight	NOUN
abrj-305	221	17	for	for	ADP
abrj-305	221	18	optimizing	optimize	VERB
abrj-305	221	19	sustainable	sustainable	ADJ
abrj-305	221	20	investment	investment	NOUN
abrj-305	221	21	approaches	approach	NOUN
abrj-305	221	22	.	.	PUNCT
abrj-305	222	1	finally	finally	ADV
abrj-305	222	2	,	,	PUNCT
abrj-305	222	3	exploring	explore	VERB
abrj-305	222	4	the	the	DET
abrj-305	222	5	relationship	relationship	NOUN
abrj-305	222	6	between	between	ADP
abrj-305	222	7	esg	esg	NOUN
abrj-305	222	8	risks	risk	NOUN
abrj-305	222	9	and	and	CCONJ
abrj-305	222	10	financial	financial	ADJ
abrj-305	222	11	performance	performance	NOUN
abrj-305	222	12	at	at	ADP
abrj-305	222	13	the	the	DET
abrj-305	222	14	portfolio	portfolio	NOUN
abrj-305	222	15	level	level	NOUN
abrj-305	222	16	could	could	AUX
abrj-305	222	17	further	far	ADV
abrj-305	222	18	enhance	enhance	VERB
abrj-305	222	19	our	our	PRON
abrj-305	222	20	understanding	understanding	NOUN
abrj-305	222	21	of	of	ADP
abrj-305	222	22	the	the	DET
abrj-305	222	23	risk	risk	NOUN
abrj-305	222	24	-	-	PUNCT
abrj-305	222	25	return	return	NOUN
abrj-305	222	26	trade	trade	NOUN
abrj-305	222	27	-	-	PUNCT
abrj-305	222	28	offs	off	NOUN
abrj-305	222	29	in	in	ADP
abrj-305	222	30	sustainable	sustainable	ADJ
abrj-305	222	31	investing	investing	NOUN
abrj-305	222	32	.	.	PUNCT
abrj-305	223	1	this	this	DET
abrj-305	223	2	study	study	NOUN
abrj-305	223	3	advances	advance	VERB
abrj-305	223	4	understanding	understanding	NOUN
abrj-305	223	5	of	of	ADP
abrj-305	223	6	the	the	DET
abrj-305	223	7	complex	complex	ADJ
abrj-305	223	8	relationship	relationship	NOUN
abrj-305	223	9	between	between	ADP
abrj-305	223	10	fund	fund	NOUN
abrj-305	223	11	characteristics	characteristic	NOUN
abrj-305	223	12	and	and	CCONJ
abrj-305	223	13	esg	esg	NOUN
abrj-305	223	14	risks	risk	NOUN
abrj-305	223	15	,	,	PUNCT
abrj-305	223	16	providing	provide	VERB
abrj-305	223	17	a	a	DET
abrj-305	223	18	foundation	foundation	NOUN
abrj-305	223	19	for	for	ADP
abrj-305	223	20	more	more	ADV
abrj-305	223	21	effective	effective	ADJ
abrj-305	223	22	sustainable	sustainable	ADJ
abrj-305	223	23	investment	investment	NOUN
abrj-305	223	24	strategies	strategy	NOUN
abrj-305	223	25	.	.	PUNCT
abrj-305	224	1	as	as	SCONJ
abrj-305	224	2	the	the	DET
abrj-305	224	3	importance	importance	NOUN
abrj-305	224	4	of	of	ADP
abrj-305	224	5	esg	esg	PROPN
abrj-305	224	6	considerations	consideration	NOUN
abrj-305	224	7	continues	continue	VERB
abrj-305	224	8	to	to	PART
abrj-305	224	9	grow	grow	VERB
abrj-305	224	10	in	in	ADP
abrj-305	224	11	the	the	DET
abrj-305	224	12	investment	investment	NOUN
abrj-305	224	13	industry	industry	NOUN
abrj-305	224	14	,	,	PUNCT
abrj-305	224	15	these	these	DET
abrj-305	224	16	insights	insight	NOUN
abrj-305	224	17	become	become	VERB
abrj-305	224	18	increasingly	increasingly	ADV
abrj-305	224	19	valuable	valuable	ADJ
abrj-305	224	20	for	for	ADP
abrj-305	224	21	stakeholders	stakeholder	NOUN
abrj-305	224	22	seeking	seek	VERB
abrj-305	224	23	to	to	PART
abrj-305	224	24	balance	balance	VERB
abrj-305	224	25	financial	financial	ADJ
abrj-305	224	26	returns	return	NOUN
abrj-305	224	27	with	with	ADP
abrj-305	224	28	sustainability	sustainability	NOUN
abrj-305	224	29	objectives	objective	NOUN
abrj-305	224	30	.	.	PUNCT
abrj-305	225	1	the	the	DET
abrj-305	225	2	findings	finding	NOUN
abrj-305	225	3	not	not	PART
abrj-305	225	4	only	only	ADV
abrj-305	225	5	contribute	contribute	VERB
abrj-305	225	6	to	to	ADP
abrj-305	225	7	the	the	DET
abrj-305	225	8	academic	academic	ADJ
abrj-305	225	9	discourse	discourse	NOUN
abrj-305	225	10	on	on	ADP
abrj-305	225	11	sustainable	sustainable	ADJ
abrj-305	225	12	finance	finance	NOUN
abrj-305	225	13	but	but	CCONJ
abrj-305	225	14	also	also	ADV
abrj-305	225	15	offer	offer	VERB
abrj-305	225	16	practical	practical	ADJ
abrj-305	225	17	guidance	guidance	NOUN
abrj-305	225	18	for	for	ADP
abrj-305	225	19	investment	investment	NOUN
abrj-305	225	20	professionals	professional	NOUN
abrj-305	225	21	navigating	navigate	VERB
abrj-305	225	22	the	the	DET
abrj-305	225	23	evolving	evolve	VERB
abrj-305	225	24	landscape	landscape	NOUN
abrj-305	225	25	of	of	ADP
abrj-305	225	26	responsible	responsible	ADJ
abrj-305	225	27	investing	investing	NOUN
abrj-305	225	28	.	.	PUNCT
abrj-305	226	1	data	datum	NOUN
abrj-305	226	2	statement	statement	NOUN
abrj-305	226	3	:	:	PUNCT
abrj-305	226	4	the	the	DET
abrj-305	226	5	datasets	dataset	NOUN
abrj-305	226	6	generated	generate	VERB
abrj-305	226	7	during	during	ADP
abrj-305	226	8	and/or	and/or	CCONJ
abrj-305	226	9	analysed	analyse	VERB
abrj-305	226	10	during	during	ADP
abrj-305	226	11	the	the	DET
abrj-305	226	12	current	current	ADJ
abrj-305	226	13	study	study	NOUN
abrj-305	226	14	are	be	AUX
abrj-305	226	15	available	available	ADJ
abrj-305	226	16	from	from	ADP
abrj-305	226	17	the	the	DET
abrj-305	226	18	corresponding	corresponding	ADJ
abrj-305	226	19	author	author	NOUN
abrj-305	226	20	on	on	ADP
abrj-305	226	21	reasonable	reasonable	ADJ
abrj-305	226	22	request	request	NOUN
abrj-305	226	23	.	.	PUNCT
abrj-305	227	1	references	reference	NOUN
abrj-305	227	2	alessandrini	alessandrini	PROPN
abrj-305	227	3	,	,	PUNCT
abrj-305	227	4	f.	f.	PROPN
abrj-305	227	5	,	,	PUNCT
abrj-305	227	6	&	&	CCONJ
abrj-305	227	7	jondeau	jondeau	PROPN
abrj-305	227	8	,	,	PUNCT
abrj-305	227	9	e.	e.	PROPN
abrj-305	227	10	(	(	PUNCT
abrj-305	227	11	2020	2020	NUM
abrj-305	227	12	)	)	PUNCT
abrj-305	227	13	.	.	PUNCT
abrj-305	228	1	esg	esg	PROPN
abrj-305	228	2	investing	investing	PROPN
abrj-305	228	3	:	:	PUNCT
abrj-305	228	4	from	from	ADP
abrj-305	228	5	sin	sin	NOUN
abrj-305	228	6	stocks	stock	NOUN
abrj-305	228	7	to	to	ADP
abrj-305	228	8	smart	smart	ADJ
abrj-305	228	9	beta	beta	NOUN
abrj-305	228	10	.	.	PUNCT
abrj-305	229	1	journal	journal	PROPN
abrj-305	229	2	of	of	ADP
abrj-305	229	3	portfolio	portfolio	PROPN
abrj-305	229	4	management	management	PROPN
abrj-305	229	5	,	,	PUNCT
abrj-305	229	6	46(3	46(3	NOUN
abrj-305	229	7	)	)	PUNCT
abrj-305	229	8	,	,	PUNCT
abrj-305	229	9	75–94	75–94	X
abrj-305	229	10	.	.	PUNCT
abrj-305	230	1	https://doi.org/10.3905/jpm.2020.46.3.075	https://doi.org/10.3905/jpm.2020.46.3.075	PROPN
abrj-305	230	2	amel	amel	PROPN
abrj-305	230	3	-	-	PUNCT
abrj-305	230	4	zadeh	zadeh	PROPN
abrj-305	230	5	,	,	PUNCT
abrj-305	230	6	a.	a.	PROPN
abrj-305	230	7	,	,	PUNCT
abrj-305	230	8	&	&	CCONJ
abrj-305	230	9	serafeim	serafeim	PROPN
abrj-305	230	10	,	,	PUNCT
abrj-305	230	11	g.	g.	PROPN
abrj-305	230	12	(	(	PUNCT
abrj-305	230	13	2018	2018	NUM
abrj-305	230	14	)	)	PUNCT
abrj-305	230	15	.	.	PUNCT
abrj-305	231	1	why	why	SCONJ
abrj-305	231	2	and	and	CCONJ
abrj-305	231	3	how	how	SCONJ
abrj-305	231	4	investors	investor	NOUN
abrj-305	231	5	use	use	VERB
abrj-305	231	6	esg	esg	PROPN
abrj-305	231	7	information	information	NOUN
abrj-305	231	8	:	:	PUNCT
abrj-305	231	9	evidence	evidence	NOUN
abrj-305	231	10	from	from	ADP
abrj-305	231	11	a	a	DET
abrj-305	231	12	global	global	ADJ
abrj-305	231	13	survey	survey	NOUN
abrj-305	231	14	.	.	PUNCT
abrj-305	232	1	financial	financial	ADJ
abrj-305	232	2	analysts	analyst	NOUN
abrj-305	232	3	journal	journal	NOUN
abrj-305	232	4	,	,	PUNCT
abrj-305	232	5	74(3	74(3	NOUN
abrj-305	232	6	)	)	PUNCT
abrj-305	232	7	,	,	PUNCT
abrj-305	232	8	87–103	87–103	PROPN
abrj-305	232	9	.	.	PUNCT
abrj-305	232	10	https://doi.org/10.2469/faj.v74.n3.2	https://doi.org/10.2469/faj.v74.n3.2	PROPN
abrj-305	232	11	bauer	bauer	PROPN
abrj-305	232	12	,	,	PUNCT
abrj-305	232	13	r.	r.	PROPN
abrj-305	232	14	,	,	PUNCT
abrj-305	232	15	&	&	CCONJ
abrj-305	232	16	hann	hann	PROPN
abrj-305	232	17	,	,	PUNCT
abrj-305	232	18	d.	d.	PROPN
abrj-305	232	19	(	(	PUNCT
abrj-305	232	20	2010	2010	NUM
abrj-305	232	21	)	)	PUNCT
abrj-305	232	22	.	.	PUNCT
abrj-305	233	1	corporate	corporate	ADJ
abrj-305	233	2	environmental	environmental	ADJ
abrj-305	233	3	management	management	NOUN
abrj-305	233	4	and	and	CCONJ
abrj-305	233	5	credit	credit	NOUN
abrj-305	233	6	risk	risk	NOUN
abrj-305	233	7	.	.	PUNCT
abrj-305	234	1	ssrn	ssrn	PROPN
abrj-305	234	2	electronic	electronic	ADJ
abrj-305	234	3	journal	journal	PROPN
abrj-305	234	4	.	.	PUNCT
abrj-305	235	1	https://doi.org/10.2139/ssrn.1660470	https://doi.org/10.2139/ssrn.1660470	ADJ
abrj-305	235	2	asian	asian	ADJ
abrj-305	235	3	business	business	NOUN
abrj-305	235	4	research	research	NOUN
abrj-305	235	5	journal	journal	NOUN
abrj-305	235	6	,	,	PUNCT
abrj-305	235	7	2025	2025	NUM
abrj-305	235	8	,	,	PUNCT
abrj-305	235	9	10(3	10(3	NUM
abrj-305	235	10	):	):	PUNCT
abrj-305	235	11	33	33	NUM
abrj-305	235	12	-	-	SYM
abrj-305	235	13	44	44	NUM
abrj-305	235	14	44	44	NUM
abrj-305	235	15	©	©	PROPN
abrj-305	235	16	2025	2025	NUM
abrj-305	235	17	by	by	ADP
abrj-305	235	18	the	the	DET
abrj-305	235	19	authors	author	NOUN
abrj-305	235	20	;	;	PUNCT
abrj-305	235	21	licensee	licensee	NOUN
abrj-305	235	22	eastern	eastern	ADJ
abrj-305	235	23	centre	centre	NOUN
abrj-305	235	24	of	of	ADP
abrj-305	235	25	science	science	NOUN
abrj-305	235	26	and	and	CCONJ
abrj-305	235	27	education	education	NOUN
abrj-305	235	28	,	,	PUNCT
abrj-305	235	29	usa	usa	PROPN
abrj-305	235	30	bauer	bauer	PROPN
abrj-305	235	31	,	,	PUNCT
abrj-305	235	32	r.	r.	PROPN
abrj-305	235	33	,	,	PUNCT
abrj-305	235	34	ruof	ruof	NOUN
abrj-305	235	35	,	,	PUNCT
abrj-305	235	36	t.	t.	PROPN
abrj-305	235	37	,	,	PUNCT
abrj-305	235	38	&	&	CCONJ
abrj-305	235	39	smeets	smeet	NOUN
abrj-305	235	40	,	,	PUNCT
abrj-305	235	41	p.	p.	NOUN
abrj-305	235	42	(	(	PUNCT
abrj-305	235	43	2021	2021	NUM
abrj-305	235	44	)	)	PUNCT
abrj-305	235	45	.	.	PUNCT
abrj-305	236	1	get	get	VERB
abrj-305	236	2	real	real	ADJ
abrj-305	236	3	!	!	PUNCT
abrj-305	237	1	individuals	individual	NOUN
abrj-305	237	2	prefer	prefer	VERB
abrj-305	237	3	more	more	ADV
abrj-305	237	4	sustainable	sustainable	ADJ
abrj-305	237	5	investments	investment	NOUN
abrj-305	237	6	.	.	PUNCT
abrj-305	238	1	review	review	NOUN
abrj-305	238	2	of	of	ADP
abrj-305	238	3	financial	financial	ADJ
abrj-305	238	4	studies	study	NOUN
abrj-305	238	5	,	,	PUNCT
abrj-305	238	6	34(8	34(8	NUM
abrj-305	238	7	)	)	PUNCT
abrj-305	238	8	,	,	PUNCT
abrj-305	238	9	3976	3976	NUM
abrj-305	238	10	–	–	PUNCT
abrj-305	238	11	4043	4043	NUM
abrj-305	238	12	.	.	PUNCT
abrj-305	239	1	https://doi.org/10.1093/rfs/hhab032	https://doi.org/10.1093/rfs/hhab032	PROPN
abrj-305	239	2	berg	berg	PROPN
abrj-305	239	3	,	,	PUNCT
abrj-305	239	4	f.	f.	PROPN
abrj-305	239	5	,	,	PUNCT
abrj-305	239	6	koelbel	koelbel	PROPN
abrj-305	239	7	,	,	PUNCT
abrj-305	239	8	j.	j.	PROPN
abrj-305	239	9	f.	f.	PROPN
abrj-305	239	10	,	,	PUNCT
abrj-305	239	11	&	&	CCONJ
abrj-305	239	12	rigobon	rigobon	PROPN
abrj-305	239	13	,	,	PUNCT
abrj-305	239	14	r.	r.	PROPN
abrj-305	239	15	(	(	PUNCT
abrj-305	239	16	2022	2022	NUM
abrj-305	239	17	)	)	PUNCT
abrj-305	239	18	.	.	PUNCT
abrj-305	240	1	aggregate	aggregate	ADJ
abrj-305	240	2	confusion	confusion	NOUN
abrj-305	240	3	:	:	PUNCT
abrj-305	240	4	the	the	DET
abrj-305	240	5	divergence	divergence	NOUN
abrj-305	240	6	of	of	ADP
abrj-305	240	7	esg	esg	PROPN
abrj-305	240	8	ratings	rating	NOUN
abrj-305	240	9	.	.	PUNCT
abrj-305	241	1	review	review	NOUN
abrj-305	241	2	of	of	ADP
abrj-305	241	3	finance	finance	NOUN
abrj-305	241	4	,	,	PUNCT
abrj-305	241	5	26(6	26(6	NUM
abrj-305	241	6	)	)	PUNCT
abrj-305	241	7	,	,	PUNCT
abrj-305	241	8	1315–1344	1315–1344	NUM
abrj-305	241	9	.	.	PUNCT
abrj-305	242	1	https://doi.org/10.1093/rof/rfac033	https://doi.org/10.1093/rof/rfac033	PROPN
abrj-305	242	2	chava	chava	PROPN
abrj-305	242	3	,	,	PUNCT
abrj-305	242	4	s.	s.	PROPN
abrj-305	242	5	(	(	PUNCT
abrj-305	242	6	2014	2014	NUM
abrj-305	242	7	)	)	PUNCT
abrj-305	242	8	.	.	PUNCT
abrj-305	243	1	environmental	environmental	ADJ
abrj-305	243	2	externalities	externality	NOUN
abrj-305	243	3	and	and	CCONJ
abrj-305	243	4	cost	cost	NOUN
abrj-305	243	5	of	of	ADP
abrj-305	243	6	capital	capital	NOUN
abrj-305	243	7	.	.	PUNCT
abrj-305	244	1	management	management	NOUN
abrj-305	244	2	science	science	NOUN
abrj-305	244	3	,	,	PUNCT
abrj-305	244	4	60(9	60(9	NUM
abrj-305	244	5	)	)	PUNCT
abrj-305	244	6	,	,	PUNCT
abrj-305	244	7	2223–2247	2223–2247	NUM
abrj-305	244	8	.	.	PUNCT
abrj-305	245	1	https://doi.org/10.1287/mnsc.2013.1863	https://doi.org/10.1287/mnsc.2013.1863	PROPN
abrj-305	245	2	dimson	dimson	NOUN
abrj-305	245	3	,	,	PUNCT
abrj-305	245	4	e.	e.	PROPN
abrj-305	245	5	,	,	PUNCT
abrj-305	245	6	karakaş	karakaş	PROPN
abrj-305	245	7	,	,	PUNCT
abrj-305	245	8	o.	o.	PROPN
abrj-305	245	9	,	,	PUNCT
abrj-305	245	10	&	&	CCONJ
abrj-305	245	11	li	li	PROPN
abrj-305	245	12	,	,	PUNCT
abrj-305	245	13	x.	x.	PROPN
abrj-305	245	14	(	(	PUNCT
abrj-305	245	15	2015	2015	NUM
abrj-305	245	16	)	)	PUNCT
abrj-305	245	17	.	.	PUNCT
abrj-305	246	1	active	active	ADJ
abrj-305	246	2	ownership	ownership	NOUN
abrj-305	246	3	.	.	PUNCT
abrj-305	247	1	review	review	NOUN
abrj-305	247	2	of	of	ADP
abrj-305	247	3	financial	financial	ADJ
abrj-305	247	4	studies	study	NOUN
abrj-305	247	5	,	,	PUNCT
abrj-305	247	6	28(12	28(12	NUM
abrj-305	247	7	)	)	PUNCT
abrj-305	247	8	,	,	PUNCT
abrj-305	247	9	3225–3268	3225–3268	NUM
abrj-305	247	10	.	.	PUNCT
abrj-305	248	1	https://doi.org/10.1093/rfs/hhv044	https://doi.org/10.1093/rfs/hhv044	PROPN
abrj-305	248	2	dyck	dyck	PROPN
abrj-305	248	3	,	,	PUNCT
abrj-305	248	4	a.	a.	NOUN
abrj-305	248	5	,	,	PUNCT
abrj-305	248	6	lins	lin	NOUN
abrj-305	248	7	,	,	PUNCT
abrj-305	248	8	k.	k.	PROPN
abrj-305	248	9	v.	v.	PROPN
abrj-305	248	10	,	,	PUNCT
abrj-305	248	11	roth	roth	PROPN
abrj-305	248	12	,	,	PUNCT
abrj-305	248	13	l.	l.	PROPN
abrj-305	248	14	,	,	PUNCT
abrj-305	248	15	&	&	CCONJ
abrj-305	248	16	wagner	wagner	PROPN
abrj-305	248	17	,	,	PUNCT
abrj-305	248	18	h.	h.	PROPN
abrj-305	248	19	f.	f.	PROPN
abrj-305	248	20	(	(	PUNCT
abrj-305	248	21	2019	2019	NUM
abrj-305	248	22	)	)	PUNCT
abrj-305	248	23	.	.	PUNCT
abrj-305	249	1	do	do	AUX
abrj-305	249	2	institutional	institutional	ADJ
abrj-305	249	3	investors	investor	NOUN
abrj-305	249	4	drive	drive	VERB
abrj-305	249	5	corporate	corporate	ADJ
abrj-305	249	6	social	social	ADJ
abrj-305	249	7	responsibility	responsibility	NOUN
abrj-305	249	8	?	?	PUNCT
abrj-305	250	1	international	international	ADJ
abrj-305	250	2	evidence	evidence	NOUN
abrj-305	250	3	.	.	PUNCT
abrj-305	251	1	journal	journal	NOUN
abrj-305	251	2	of	of	ADP
abrj-305	251	3	financial	financial	ADJ
abrj-305	251	4	economics	economic	NOUN
abrj-305	251	5	,	,	PUNCT
abrj-305	251	6	131(3	131(3	NUM
abrj-305	251	7	)	)	PUNCT
abrj-305	251	8	,	,	PUNCT
abrj-305	251	9	693–714	693–714	NUM
abrj-305	251	10	.	.	PUNCT
abrj-305	252	1	https://doi.org/10.1016/j.jfineco.2018.08.013	https://doi.org/10.1016/j.jfineco.2018.08.013	PROPN
abrj-305	252	2	eccles	eccles	PROPN
abrj-305	252	3	,	,	PUNCT
abrj-305	252	4	r.	r.	PROPN
abrj-305	252	5	g.	g.	PROPN
abrj-305	252	6	,	,	PUNCT
abrj-305	252	7	&	&	CCONJ
abrj-305	252	8	klimenko	klimenko	PROPN
abrj-305	252	9	,	,	PUNCT
abrj-305	252	10	s.	s.	PROPN
abrj-305	252	11	(	(	PUNCT
abrj-305	252	12	2019	2019	NUM
abrj-305	252	13	)	)	PUNCT
abrj-305	252	14	.	.	PUNCT
abrj-305	253	1	the	the	DET
abrj-305	253	2	investor	investor	NOUN
abrj-305	253	3	revolution	revolution	NOUN
abrj-305	253	4	.	.	PUNCT
abrj-305	254	1	harvard	harvard	PROPN
abrj-305	254	2	business	business	PROPN
abrj-305	254	3	review	review	PROPN
abrj-305	254	4	,	,	PUNCT
abrj-305	254	5	97(3	97(3	NUM
abrj-305	254	6	)	)	PUNCT
abrj-305	254	7	,	,	PUNCT
abrj-305	254	8	106–116	106–116	NUM
abrj-305	254	9	.	.	PUNCT
abrj-305	255	1	el	el	PROPN
abrj-305	255	2	ghoul	ghoul	PROPN
abrj-305	255	3	,	,	PUNCT
abrj-305	255	4	s.	s.	PROPN
abrj-305	255	5	,	,	PUNCT
abrj-305	255	6	&	&	CCONJ
abrj-305	255	7	karoui	karoui	ADV
abrj-305	255	8	,	,	PUNCT
abrj-305	255	9	a.	a.	NOUN
abrj-305	255	10	(	(	PUNCT
abrj-305	255	11	2021	2021	NUM
abrj-305	255	12	)	)	PUNCT
abrj-305	255	13	.	.	PUNCT
abrj-305	256	1	does	do	AUX
abrj-305	256	2	corporate	corporate	ADJ
abrj-305	256	3	social	social	ADJ
abrj-305	256	4	responsibility	responsibility	NOUN
abrj-305	256	5	affect	affect	VERB
abrj-305	256	6	mutual	mutual	ADJ
abrj-305	256	7	fund	fund	NOUN
abrj-305	256	8	performance	performance	NOUN
abrj-305	256	9	and	and	CCONJ
abrj-305	256	10	flows	flow	NOUN
abrj-305	256	11	?	?	PUNCT
abrj-305	257	1	journal	journal	NOUN
abrj-305	257	2	of	of	ADP
abrj-305	257	3	banking	banking	NOUN
abrj-305	257	4	&	&	CCONJ
abrj-305	257	5	finance	finance	PROPN
abrj-305	257	6	,	,	PUNCT
abrj-305	257	7	124	124	NUM
abrj-305	257	8	,	,	PUNCT
abrj-305	257	9	106039	106039	NUM
abrj-305	257	10	.	.	PUNCT
abrj-305	258	1	https://doi.org/10.1016/j.jbankfin.2021.106039	https://doi.org/10.1016/j.jbankfin.2021.106039	NOUN
abrj-305	258	2	ferreira	ferreira	PROPN
abrj-305	258	3	,	,	PUNCT
abrj-305	258	4	m.	m.	NOUN
abrj-305	258	5	a.	a.	PROPN
abrj-305	258	6	,	,	PUNCT
abrj-305	258	7	keswani	keswani	PROPN
abrj-305	258	8	,	,	PUNCT
abrj-305	258	9	a.	a.	PROPN
abrj-305	258	10	,	,	PUNCT
abrj-305	258	11	miguel	miguel	PROPN
abrj-305	258	12	,	,	PUNCT
abrj-305	258	13	a.	a.	PROPN
abrj-305	258	14	f.	f.	PROPN
abrj-305	258	15	,	,	PUNCT
abrj-305	258	16	&	&	CCONJ
abrj-305	258	17	ramos	ramos	PROPN
abrj-305	258	18	,	,	PUNCT
abrj-305	258	19	s.	s.	PROPN
abrj-305	258	20	b.	b.	PROPN
abrj-305	258	21	(	(	PUNCT
abrj-305	258	22	2018	2018	NUM
abrj-305	258	23	)	)	PUNCT
abrj-305	258	24	.	.	PUNCT
abrj-305	259	1	the	the	DET
abrj-305	259	2	determinants	determinant	NOUN
abrj-305	259	3	of	of	ADP
abrj-305	259	4	mutual	mutual	ADJ
abrj-305	259	5	fund	fund	NOUN
abrj-305	259	6	performance	performance	NOUN
abrj-305	259	7	:	:	PUNCT
abrj-305	259	8	a	a	DET
abrj-305	259	9	cross	cross	ADJ
abrj-305	259	10	-	-	ADJ
abrj-305	259	11	country	country	ADJ
abrj-305	259	12	study	study	NOUN
abrj-305	259	13	.	.	PUNCT
abrj-305	260	1	review	review	NOUN
abrj-305	260	2	of	of	ADP
abrj-305	260	3	finance	finance	NOUN
abrj-305	260	4	,	,	PUNCT
abrj-305	260	5	17(2	17(2	NUM
abrj-305	260	6	)	)	PUNCT
abrj-305	260	7	,	,	PUNCT
abrj-305	260	8	483–525	483–525	NUM
abrj-305	260	9	.	.	PUNCT
abrj-305	261	1	https://doi.org/10.1093/rof/rfs013	https://doi.org/10.1093/rof/rfs013	PROPN
abrj-305	261	2	friede	friede	NOUN
abrj-305	261	3	,	,	PUNCT
abrj-305	261	4	g.	g.	PROPN
abrj-305	261	5	,	,	PUNCT
abrj-305	261	6	busch	busch	PROPN
abrj-305	261	7	,	,	PUNCT
abrj-305	261	8	t.	t.	PROPN
abrj-305	261	9	,	,	PUNCT
abrj-305	261	10	&	&	CCONJ
abrj-305	261	11	bassen	bassen	PROPN
abrj-305	261	12	,	,	PUNCT
abrj-305	261	13	a.	a.	NOUN
abrj-305	261	14	(	(	PUNCT
abrj-305	261	15	2015	2015	NUM
abrj-305	261	16	)	)	PUNCT
abrj-305	261	17	.	.	PUNCT
abrj-305	262	1	esg	esg	NOUN
abrj-305	262	2	and	and	CCONJ
abrj-305	262	3	financial	financial	ADJ
abrj-305	262	4	performance	performance	NOUN
abrj-305	262	5	:	:	PUNCT
abrj-305	262	6	aggregated	aggregate	VERB
abrj-305	262	7	evidence	evidence	NOUN
abrj-305	262	8	from	from	ADP
abrj-305	262	9	more	more	ADJ
abrj-305	262	10	than	than	ADP
abrj-305	262	11	2000	2000	NUM
abrj-305	262	12	empirical	empirical	ADJ
abrj-305	262	13	studies	study	NOUN
abrj-305	262	14	.	.	PUNCT
abrj-305	263	1	journal	journal	NOUN
abrj-305	263	2	of	of	ADP
abrj-305	263	3	sustainable	sustainable	ADJ
abrj-305	263	4	finance	finance	NOUN
abrj-305	263	5	&	&	CCONJ
abrj-305	263	6	investment	investment	NOUN
abrj-305	263	7	,	,	PUNCT
abrj-305	263	8	5(4	5(4	NUM
abrj-305	263	9	)	)	PUNCT
abrj-305	263	10	,	,	PUNCT
abrj-305	263	11	210–233	210–233	NUM
abrj-305	263	12	.	.	PUNCT
abrj-305	264	1	https://doi.org/10.1080/20430795.2015.1118917	https://doi.org/10.1080/20430795.2015.1118917	PROPN
abrj-305	264	2	gibson	gibson	PROPN
abrj-305	264	3	brandon	brandon	PROPN
abrj-305	264	4	,	,	PUNCT
abrj-305	264	5	r.	r.	PROPN
abrj-305	264	6	,	,	PUNCT
abrj-305	264	7	krueger	krueger	PROPN
abrj-305	264	8	,	,	PUNCT
abrj-305	264	9	p.	p.	NOUN
abrj-305	264	10	,	,	PUNCT
abrj-305	264	11	&	&	CCONJ
abrj-305	264	12	schmidt	schmidt	PROPN
abrj-305	264	13	,	,	PUNCT
abrj-305	264	14	p.	p.	PROPN
abrj-305	264	15	s.	s.	PROPN
abrj-305	264	16	(	(	PUNCT
abrj-305	264	17	2021	2021	NUM
abrj-305	264	18	)	)	PUNCT
abrj-305	264	19	.	.	PUNCT
abrj-305	265	1	esg	esg	NOUN
abrj-305	265	2	rating	rating	NOUN
abrj-305	265	3	disagreement	disagreement	NOUN
abrj-305	265	4	and	and	CCONJ
abrj-305	265	5	stock	stock	NOUN
abrj-305	265	6	returns	return	NOUN
abrj-305	265	7	.	.	PUNCT
abrj-305	266	1	financial	financial	ADJ
abrj-305	266	2	analysts	analyst	NOUN
abrj-305	266	3	journal	journal	NOUN
abrj-305	266	4	,	,	PUNCT
abrj-305	266	5	77(4	77(4	NUM
abrj-305	266	6	)	)	PUNCT
abrj-305	266	7	,	,	PUNCT
abrj-305	266	8	104–127	104–127	NUM
abrj-305	266	9	.	.	PUNCT
abrj-305	267	1	https://doi.org/10.1080/0015198x.2021.1959163	https://doi.org/10.1080/0015198x.2021.1959163	X
abrj-305	267	2	gibson	gibson	PROPN
abrj-305	267	3	,	,	PUNCT
abrj-305	267	4	r.	r.	PROPN
abrj-305	267	5	,	,	PUNCT
abrj-305	267	6	glossner	glossner	PROPN
abrj-305	267	7	,	,	PUNCT
abrj-305	267	8	s.	s.	PROPN
abrj-305	267	9	,	,	PUNCT
abrj-305	267	10	krueger	krueger	PROPN
abrj-305	267	11	,	,	PUNCT
abrj-305	267	12	p.	p.	NOUN
abrj-305	267	13	,	,	PUNCT
abrj-305	267	14	matos	matos	PROPN
abrj-305	267	15	,	,	PUNCT
abrj-305	267	16	p.	p.	NOUN
abrj-305	267	17	,	,	PUNCT
abrj-305	267	18	&	&	CCONJ
abrj-305	267	19	steffen	steffen	PROPN
abrj-305	267	20	,	,	PUNCT
abrj-305	267	21	t.	t.	PROPN
abrj-305	267	22	(	(	PUNCT
abrj-305	267	23	2020	2020	NUM
abrj-305	267	24	)	)	PUNCT
abrj-305	267	25	.	.	PUNCT
abrj-305	268	1	responsible	responsible	ADJ
abrj-305	268	2	institutional	institutional	ADJ
abrj-305	268	3	investing	invest	VERB
abrj-305	268	4	around	around	ADP
abrj-305	268	5	the	the	DET
abrj-305	268	6	world	world	NOUN
abrj-305	268	7	.	.	PUNCT
abrj-305	269	1	swiss	swiss	ADJ
abrj-305	269	2	finance	finance	PROPN
abrj-305	269	3	institute	institute	PROPN
abrj-305	269	4	research	research	PROPN
abrj-305	269	5	paper	paper	NOUN
abrj-305	269	6	series	series	NOUN
abrj-305	269	7	,	,	PUNCT
abrj-305	269	8	20(13	20(13	PROPN
abrj-305	269	9	)	)	PUNCT
abrj-305	269	10	.	.	PUNCT
abrj-305	270	1	https://doi.org/10.2139/ssrn.3525530	https://doi.org/10.2139/ssrn.3525530	PROPN
abrj-305	270	2	hartzmark	hartzmark	PROPN
abrj-305	270	3	,	,	PUNCT
abrj-305	270	4	s.	s.	PROPN
abrj-305	270	5	m.	m.	PROPN
abrj-305	270	6	,	,	PUNCT
abrj-305	270	7	&	&	CCONJ
abrj-305	270	8	sussman	sussman	PROPN
abrj-305	270	9	,	,	PUNCT
abrj-305	270	10	a.	a.	PROPN
abrj-305	270	11	b.	b.	PROPN
abrj-305	270	12	(	(	PUNCT
abrj-305	270	13	2019	2019	NUM
abrj-305	270	14	)	)	PUNCT
abrj-305	270	15	.	.	PUNCT
abrj-305	271	1	do	do	AUX
abrj-305	271	2	investors	investor	NOUN
abrj-305	271	3	value	value	VERB
abrj-305	271	4	sustainability	sustainability	NOUN
abrj-305	271	5	?	?	PUNCT
abrj-305	272	1	a	a	DET
abrj-305	272	2	natural	natural	ADJ
abrj-305	272	3	experiment	experiment	NOUN
abrj-305	272	4	examining	examine	VERB
abrj-305	272	5	ranking	ranking	NOUN
abrj-305	272	6	and	and	CCONJ
abrj-305	272	7	fund	fund	NOUN
abrj-305	272	8	flows	flow	NOUN
abrj-305	272	9	.	.	PUNCT
abrj-305	273	1	the	the	DET
abrj-305	273	2	journal	journal	NOUN
abrj-305	273	3	of	of	ADP
abrj-305	273	4	finance	finance	NOUN
abrj-305	273	5	,	,	PUNCT
abrj-305	273	6	74(6	74(6	NUM
abrj-305	273	7	)	)	PUNCT
abrj-305	273	8	,	,	PUNCT
abrj-305	273	9	2789–2837	2789–2837	NUM
abrj-305	273	10	.	.	PUNCT
abrj-305	273	11	https://doi.org/10.1111/jofi.12841	https://doi.org/10.1111/jofi.12841	PROPN
abrj-305	273	12	henke	henke	PROPN
abrj-305	273	13	,	,	PUNCT
abrj-305	273	14	h.	h.	PROPN
abrj-305	273	15	m.	m.	PROPN
abrj-305	273	16	(	(	PUNCT
abrj-305	273	17	2016	2016	NUM
abrj-305	273	18	)	)	PUNCT
abrj-305	273	19	.	.	PUNCT
abrj-305	274	1	the	the	DET
abrj-305	274	2	effect	effect	NOUN
abrj-305	274	3	of	of	ADP
abrj-305	274	4	social	social	ADJ
abrj-305	274	5	screening	screening	NOUN
abrj-305	274	6	on	on	ADP
abrj-305	274	7	bond	bond	NOUN
abrj-305	274	8	mutual	mutual	ADJ
abrj-305	274	9	fund	fund	NOUN
abrj-305	274	10	performance	performance	NOUN
abrj-305	274	11	.	.	PUNCT
abrj-305	275	1	journal	journal	NOUN
abrj-305	275	2	of	of	ADP
abrj-305	275	3	banking	banking	NOUN
abrj-305	275	4	&	&	CCONJ
abrj-305	275	5	finance	finance	PROPN
abrj-305	275	6	,	,	PUNCT
abrj-305	275	7	67	67	NUM
abrj-305	275	8	,	,	PUNCT
abrj-305	275	9	69–84	69–84	PROPN
abrj-305	275	10	.	.	PUNCT
abrj-305	276	1	https://doi.org/10.1016/j.jbankfin.2016.01.010	https://doi.org/10.1016/j.jbankfin.2016.01.010	PROPN
abrj-305	276	2	hong	hong	PROPN
abrj-305	276	3	,	,	PUNCT
abrj-305	276	4	h.	h.	PROPN
abrj-305	276	5	,	,	PUNCT
abrj-305	276	6	&	&	CCONJ
abrj-305	276	7	kacperczyk	kacperczyk	PROPN
abrj-305	276	8	,	,	PUNCT
abrj-305	276	9	m.	m.	NOUN
abrj-305	276	10	(	(	PUNCT
abrj-305	276	11	2009	2009	NUM
abrj-305	276	12	)	)	PUNCT
abrj-305	276	13	.	.	PUNCT
abrj-305	277	1	the	the	DET
abrj-305	277	2	price	price	NOUN
abrj-305	277	3	of	of	ADP
abrj-305	277	4	sin	sin	NOUN
abrj-305	277	5	:	:	PUNCT
abrj-305	277	6	the	the	DET
abrj-305	277	7	effects	effect	NOUN
abrj-305	277	8	of	of	ADP
abrj-305	277	9	social	social	ADJ
abrj-305	277	10	norms	norm	NOUN
abrj-305	277	11	on	on	ADP
abrj-305	277	12	markets	market	NOUN
abrj-305	277	13	.	.	PUNCT
abrj-305	278	1	journal	journal	NOUN
abrj-305	278	2	of	of	ADP
abrj-305	278	3	financial	financial	ADJ
abrj-305	278	4	economics	economic	NOUN
abrj-305	278	5	,	,	PUNCT
abrj-305	278	6	93(1	93(1	NUM
abrj-305	278	7	)	)	PUNCT
abrj-305	278	8	,	,	PUNCT
abrj-305	278	9	15–36	15–36	NUM
abrj-305	278	10	.	.	PUNCT
abrj-305	279	1	https://doi.org/10.1016/j.jfineco.2008.09.001	https://doi.org/10.1016/j.jfineco.2008.09.001	NOUN
abrj-305	279	2	krueger	krueger	PROPN
abrj-305	279	3	,	,	PUNCT
abrj-305	279	4	p.	p.	NOUN
abrj-305	279	5	,	,	PUNCT
abrj-305	279	6	sautner	sautner	PROPN
abrj-305	279	7	,	,	PUNCT
abrj-305	279	8	z.	z.	PROPN
abrj-305	279	9	,	,	PUNCT
abrj-305	279	10	&	&	CCONJ
abrj-305	279	11	starks	starks	PROPN
abrj-305	279	12	,	,	PUNCT
abrj-305	279	13	l.	l.	PROPN
abrj-305	279	14	t.	t.	PROPN
abrj-305	279	15	(	(	PUNCT
abrj-305	279	16	2020	2020	NUM
abrj-305	279	17	)	)	PUNCT
abrj-305	279	18	.	.	PUNCT
abrj-305	280	1	the	the	DET
abrj-305	280	2	importance	importance	NOUN
abrj-305	280	3	of	of	ADP
abrj-305	280	4	climate	climate	NOUN
abrj-305	280	5	risks	risk	NOUN
abrj-305	280	6	for	for	ADP
abrj-305	280	7	institutional	institutional	ADJ
abrj-305	280	8	investors	investor	NOUN
abrj-305	280	9	.	.	PUNCT
abrj-305	281	1	the	the	DET
abrj-305	281	2	review	review	NOUN
abrj-305	281	3	of	of	ADP
abrj-305	281	4	financial	financial	ADJ
abrj-305	281	5	studies	study	NOUN
abrj-305	281	6	,	,	PUNCT
abrj-305	281	7	33(3	33(3	NOUN
abrj-305	281	8	)	)	PUNCT
abrj-305	281	9	,	,	PUNCT
abrj-305	281	10	1067–1111	1067–1111	NUM
abrj-305	281	11	.	.	PUNCT
abrj-305	282	1	https://doi.org/10.1093/rfs/hhz137	https://doi.org/10.1093/rfs/hhz137	PROPN
abrj-305	282	2	liang	liang	PROPN
abrj-305	282	3	,	,	PUNCT
abrj-305	282	4	h.	h.	PROPN
abrj-305	282	5	,	,	PUNCT
abrj-305	282	6	&	&	CCONJ
abrj-305	282	7	renneboog	renneboog	PROPN
abrj-305	282	8	,	,	PUNCT
abrj-305	282	9	l.	l.	PROPN
abrj-305	282	10	(	(	PUNCT
abrj-305	282	11	2017	2017	NUM
abrj-305	282	12	)	)	PUNCT
abrj-305	282	13	.	.	PUNCT
abrj-305	283	1	on	on	ADP
abrj-305	283	2	the	the	DET
abrj-305	283	3	foundations	foundation	NOUN
abrj-305	283	4	of	of	ADP
abrj-305	283	5	corporate	corporate	ADJ
abrj-305	283	6	social	social	ADJ
abrj-305	283	7	responsibility	responsibility	NOUN
abrj-305	283	8	.	.	PUNCT
abrj-305	284	1	the	the	DET
abrj-305	284	2	journal	journal	PROPN
abrj-305	284	3	of	of	ADP
abrj-305	284	4	finance	finance	NOUN
abrj-305	284	5	,	,	PUNCT
abrj-305	284	6	72(2	72(2	NOUN
abrj-305	284	7	)	)	PUNCT
abrj-305	284	8	,	,	PUNCT
abrj-305	284	9	853–910	853–910	NUM
abrj-305	284	10	.	.	PUNCT
abrj-305	284	11	https://doi.org/10.1111/jofi.12487	https://doi.org/10.1111/jofi.12487	PROPN
abrj-305	284	12	margolis	margolis	PROPN
abrj-305	284	13	,	,	PUNCT
abrj-305	284	14	j.	j.	PROPN
abrj-305	284	15	d.	d.	PROPN
abrj-305	284	16	,	,	PUNCT
abrj-305	284	17	elfenbein	elfenbein	ADV
abrj-305	284	18	,	,	PUNCT
abrj-305	284	19	h.	h.	PROPN
abrj-305	284	20	a.	a.	PROPN
abrj-305	284	21	,	,	PUNCT
abrj-305	284	22	&	&	CCONJ
abrj-305	284	23	walsh	walsh	PROPN
abrj-305	284	24	,	,	PUNCT
abrj-305	284	25	j.	j.	PROPN
abrj-305	284	26	p.	p.	PROPN
abrj-305	284	27	(	(	PUNCT
abrj-305	284	28	2009	2009	NUM
abrj-305	284	29	)	)	PUNCT
abrj-305	284	30	.	.	PUNCT
abrj-305	285	1	does	do	AUX
abrj-305	285	2	it	it	PRON
abrj-305	285	3	pay	pay	VERB
abrj-305	285	4	to	to	PART
abrj-305	285	5	be	be	AUX
abrj-305	285	6	good	good	ADJ
abrj-305	285	7	?	?	PUNCT
abrj-305	286	1	a	a	DET
abrj-305	286	2	meta	meta	ADJ
abrj-305	286	3	-	-	PUNCT
abrj-305	286	4	analysis	analysis	NOUN
abrj-305	286	5	and	and	CCONJ
abrj-305	286	6	redirection	redirection	NOUN
abrj-305	286	7	of	of	ADP
abrj-305	286	8	research	research	NOUN
abrj-305	286	9	on	on	ADP
abrj-305	286	10	the	the	DET
abrj-305	286	11	relationship	relationship	NOUN
abrj-305	286	12	between	between	ADP
abrj-305	286	13	corporate	corporate	ADJ
abrj-305	286	14	social	social	ADJ
abrj-305	286	15	and	and	CCONJ
abrj-305	286	16	financial	financial	ADJ
abrj-305	286	17	performance	performance	NOUN
abrj-305	286	18	.	.	PUNCT
abrj-305	287	1	ssrn	ssrn	PROPN
abrj-305	287	2	electronic	electronic	ADJ
abrj-305	287	3	journal	journal	PROPN
abrj-305	287	4	.	.	PUNCT
abrj-305	288	1	https://doi.org/10.2139/ssrn.1866371	https://doi.org/10.2139/ssrn.1866371	PROPN
abrj-305	288	2	orlitzky	orlitzky	NOUN
abrj-305	288	3	,	,	PUNCT
abrj-305	288	4	m.	m.	NOUN
abrj-305	288	5	,	,	PUNCT
abrj-305	288	6	schmidt	schmidt	PROPN
abrj-305	288	7	,	,	PUNCT
abrj-305	288	8	f.	f.	PROPN
abrj-305	288	9	l.	l.	PROPN
abrj-305	288	10	,	,	PUNCT
abrj-305	288	11	&	&	CCONJ
abrj-305	288	12	rynes	ryne	NOUN
abrj-305	288	13	,	,	PUNCT
abrj-305	288	14	s.	s.	PROPN
abrj-305	288	15	l.	l.	PROPN
abrj-305	288	16	(	(	PUNCT
abrj-305	288	17	2003	2003	NUM
abrj-305	288	18	)	)	PUNCT
abrj-305	288	19	.	.	PUNCT
abrj-305	289	1	corporate	corporate	ADJ
abrj-305	289	2	social	social	ADJ
abrj-305	289	3	and	and	CCONJ
abrj-305	289	4	financial	financial	ADJ
abrj-305	289	5	performance	performance	NOUN
abrj-305	289	6	:	:	PUNCT
abrj-305	289	7	a	a	DET
abrj-305	289	8	meta	meta	ADJ
abrj-305	289	9	-	-	PUNCT
abrj-305	289	10	analysis	analysis	NOUN
abrj-305	289	11	.	.	PUNCT
abrj-305	290	1	*	*	PUNCT
abrj-305	290	2	organization	organization	NOUN
abrj-305	290	3	studies	study	NOUN
abrj-305	290	4	pastor	pastor	NOUN
abrj-305	290	5	,	,	PUNCT
abrj-305	290	6	l.	l.	PROPN
abrj-305	290	7	,	,	PUNCT
abrj-305	290	8	stambaugh	stambaugh	PROPN
abrj-305	290	9	,	,	PUNCT
abrj-305	290	10	r.	r.	PROPN
abrj-305	290	11	f.	f.	PROPN
abrj-305	290	12	,	,	PUNCT
abrj-305	290	13	&	&	CCONJ
abrj-305	290	14	taylor	taylor	PROPN
abrj-305	290	15	,	,	PUNCT
abrj-305	290	16	l.	l.	PROPN
abrj-305	290	17	a.	a.	PROPN
abrj-305	290	18	(	(	PUNCT
abrj-305	290	19	2021	2021	NUM
abrj-305	290	20	)	)	PUNCT
abrj-305	290	21	.	.	PUNCT
abrj-305	291	1	sustainable	sustainable	ADJ
abrj-305	291	2	investing	investing	NOUN
abrj-305	291	3	in	in	ADP
abrj-305	291	4	equilibrium	equilibrium	NOUN
abrj-305	291	5	.	.	PUNCT
abrj-305	292	1	journal	journal	NOUN
abrj-305	292	2	of	of	ADP
abrj-305	292	3	financial	financial	ADJ
abrj-305	292	4	economics	economic	NOUN
abrj-305	292	5	,	,	PUNCT
abrj-305	292	6	142(2	142(2	NUM
abrj-305	292	7	)	)	PUNCT
abrj-305	292	8	,	,	PUNCT
abrj-305	292	9	550	550	NUM
abrj-305	292	10	-	-	SYM
abrj-305	292	11	571	571	NUM
abrj-305	292	12	.	.	PUNCT
abrj-305	293	1	pedersen	pedersen	PROPN
abrj-305	293	2	,	,	PUNCT
abrj-305	293	3	l.	l.	PROPN
abrj-305	293	4	h.	h.	PROPN
abrj-305	293	5	,	,	PUNCT
abrj-305	293	6	fitzgibbons	fitzgibbon	NOUN
abrj-305	293	7	,	,	PUNCT
abrj-305	293	8	s.	s.	PROPN
abrj-305	293	9	,	,	PUNCT
abrj-305	293	10	&	&	CCONJ
abrj-305	293	11	pomorski	pomorski	PROPN
abrj-305	293	12	,	,	PUNCT
abrj-305	293	13	l.	l.	PROPN
abrj-305	293	14	(	(	PUNCT
abrj-305	293	15	2021	2021	NUM
abrj-305	293	16	)	)	PUNCT
abrj-305	293	17	.	.	PUNCT
abrj-305	294	1	responsible	responsible	ADJ
abrj-305	294	2	investing	investing	NOUN
abrj-305	294	3	:	:	PUNCT
abrj-305	294	4	the	the	DET
abrj-305	294	5	esg	esg	PROPN
abrj-305	294	6	-	-	PUNCT
abrj-305	294	7	efficient	efficient	ADJ
abrj-305	294	8	frontier	frontier	NOUN
abrj-305	294	9	.	.	PUNCT
abrj-305	295	1	journal	journal	PROPN
abrj-305	295	2	of	of	ADP
abrj-305	295	3	financial	financial	ADJ
abrj-305	295	4	economics	economic	NOUN
abrj-305	295	5	,	,	PUNCT
abrj-305	295	6	142(2	142(2	NUM
abrj-305	295	7	)	)	PUNCT
abrj-305	295	8	,	,	PUNCT
abrj-305	295	9	572	572	NUM
abrj-305	295	10	-	-	SYM
abrj-305	295	11	597	597	NUM
abrj-305	295	12	.	.	PUNCT
abrj-305	296	1	starks	stark	NOUN
abrj-305	296	2	,	,	PUNCT
abrj-305	296	3	l.	l.	PROPN
abrj-305	296	4	t.	t.	PROPN
abrj-305	296	5	,	,	PUNCT
abrj-305	296	6	venkat	venkat	PROPN
abrj-305	296	7	,	,	PUNCT
abrj-305	296	8	p.	p.	PROPN
abrj-305	296	9	,	,	PUNCT
abrj-305	296	10	&	&	CCONJ
abrj-305	296	11	zhu	zhu	PROPN
abrj-305	296	12	,	,	PUNCT
abrj-305	296	13	q.	q.	PROPN
abrj-305	296	14	(	(	PUNCT
abrj-305	296	15	2017	2017	NUM
abrj-305	296	16	)	)	PUNCT
abrj-305	296	17	.	.	PUNCT
abrj-305	297	1	corporate	corporate	ADJ
abrj-305	297	2	esg	esg	PROPN
abrj-305	297	3	profiles	profile	NOUN
abrj-305	297	4	and	and	CCONJ
abrj-305	297	5	investor	investor	NOUN
abrj-305	297	6	horizons	horizon	NOUN
abrj-305	297	7	.	.	PUNCT
abrj-305	298	1	ssrn	ssrn	PROPN
abrj-305	298	2	electronic	electronic	ADJ
abrj-305	298	3	journal	journal	PROPN
abrj-305	298	4	.	.	PUNCT
abrj-305	299	1	https://doi.org/10.2139/ssrn.3049943	https://doi.org/10.2139/ssrn.3049943	X
abrj-305	299	2	https://doi.org/10.2139/ssrn.3049943	https://doi.org/10.2139/ssrn.3049943	PROPN