The Influence of the COVID-19 Pandemic on the Consideration of Corporate Social Irresponsibility by Sovereign Wealth Funds
The Influence of the COVID-19 Pandemic on the Consideration of Corporate Social Irresponsibility by Sovereign Wealth Funds
Author(s): Marty Jörn Klein, Gabriela Chmelíková, Jozef PalkovičSubject(s): Supranational / Global Economy, Business Economy / Management, Energy and Environmental Studies, Financial Markets, Business Ethics, Socio-Economic Research
Published by: Vysoká škola ekonomická v Praze - Fakulta podnikohospodářská
Keywords: Corporate social irresponsibility; corporate social responsibility; ESG; reputation risk; sovereign wealth funds;
Summary/Abstract: Sovereign wealth funds (SWFs) significantly influence global financial markets, holding over USD 11.2 trillion in assets. This study examines the impact of the COVID-19 pandemic on SWFs' investment decisions concerning corporate social responsibility (CSR) and irresponsibility (CSI), analyzing 72% of their total public equity holdings from 2019 to 2023. Findings show SWFs prioritize company self-reported environmental, social, and governance (ESG) metrics over public CSI information. Public equity holding CSI data more significantly influence SWFs in countries with greater sustainability transparency. The study emphasizes the need for increased ESG integration into SWFs' investment strategies to promote sustainable investing practices. The implications for Central Europe include encouraging broader ESG integration and focusing on CSI development in target investments. Future research will compare SWF investment behavior with other major investors.
Journal: Central European Business Review
- Issue Year: 14/2025
- Issue No: 2
- Page Range: 45-73
- Page Count: 29
- Language: English
