Show simple item record

dc.contributor.advisorCheung, Zeerim
dc.contributor.authorToscano, Diana
dc.date.accessioned2021-08-23T05:44:42Z
dc.date.available2021-08-23T05:44:42Z
dc.date.issued2021
dc.identifier.urihttps://jyx.jyu.fi/handle/123456789/77443
dc.description.abstractImagine a student studying in his own country, is awarded a scholarship from a developed foreign country. To continue receiving a scholarship, the student is assessed by the sponsoring country’s education standards and needs to conform. What can we expect to ensue? There is a striking resemblance of this example to this research topic. Sovereign Wealth Funds (SWFs) have been at the center of discussions and controversies due to the capitalistic influence that they exert on portfolio companies and the immense financial space that they operate in. Often termed as activists, capitalists, shareholders, stakeholders, or sponsors, these financial intermediaries, with their heterogeneous motivations, patronize companies in developing countries. Several government-controlled SWFs have acquired stakes worldwide. (Lyons 2008) & (Fry, Mckibbin, and O’Brien 2011). SWFs have also been in the spotlight for the wrong reasons such as lack of accountability or transparency. (Stone and Truman 2016). From initially aiming at profit maximization at inception, SWF’s have evolved to gradually incorporate significant non-financial objectives in their investment strategies. Over the past decade, SWFs are increasingly focusing on socially responsible investing also known as ethical or impact investing. A literature review reveals a limited discussion about SRI implementation by SWFs and even fewer SWFs adopting SRI strategies. The Norwegian SWF hereafter referred to as GPFG, has been regarded as the torchbearer for its highly transparent, viable and successful fund management strategy. With open strategies it has produced results, enhanced market liquidity and acted as a stabilizing influence amongst other SWFs (IMF European Dept Delia Velculescu 2008). Since 2005, the GPFG has voluntarily engaged in socially responsible investing strategies concerning the portfolio companies that they invest in. As a combined effort of its financial and ethical arms, the GPFG evaluates companies according to its ethical guidelines and decides the further course of action of divesting or reinvesting in companies blacklisted by them. Taking into consideration a subset of companies that have been excluded or placed under observation by the GPFG, I aim to investigate the consequences of the GPFG’s strategies. The research involves examining individual company reactions following the GPFG decision. The patterns in the narratives and actions of the company, point towards the actual impact of the GPFG’s decision on the company. Without assuming any theory or phenomenon at the outset, I undertake an interpretative qualitative analysis of GPFG sources, data, along with company annual, sustainability, and governance reports, news articles. Empirical findings lean towards the two main theories – First, institutional decoupling and resource dependence. Besides the theoretical links, an intriguing phenomenon emerges – shareholder primacy prevails.en
dc.format.extent67
dc.language.isoen
dc.subject.othersocially responsible investing
dc.subject.otherscreening
dc.subject.otherenvironment-social-governance norms
dc.subject.otherdecoupling
dc.subject.otherresource dependency
dc.titleSocially responsible investment strategy of the Norwegian Wealth Fund
dc.identifier.urnURN:NBN:fi:jyu-202108234608
dc.type.ontasotMaster’s thesisen
dc.type.ontasotPro gradu -tutkielmafi
dc.contributor.tiedekuntaKauppakorkeakoulufi
dc.contributor.tiedekuntaSchool of Business and Economicsen
dc.contributor.laitosTaloustieteetfi
dc.contributor.laitosBusiness and Economicsen
dc.contributor.yliopistoJyväskylän yliopistofi
dc.contributor.yliopistoUniversity of Jyväskyläen
dc.contributor.oppiaineJohtaminenfi
dc.contributor.oppiaineManagement and Leadershipen
dc.rights.copyrightJulkaisu on tekijänoikeussäännösten alainen. Teosta voi lukea ja tulostaa henkilökohtaista käyttöä varten. Käyttö kaupallisiin tarkoituksiin on kielletty.fi
dc.rights.copyrightThis publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.en
dc.contributor.oppiainekoodi20424
dc.subject.ysoyritysstrategiat
dc.subject.ysoyritysvastuu
dc.subject.ysosijoitusyhtiöt
dc.subject.ysososiaalinen vastuu
dc.subject.ysostrategiat
dc.subject.ysoihmisoikeudet
dc.subject.ysocorporate strategies
dc.subject.ysocorporate responsibility
dc.subject.ysoinvestment companies
dc.subject.ysosocial responsibility
dc.subject.ysostrategies
dc.subject.ysohuman rights


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record