Comment expliquer la décision de création d’un fond éthique ?

Despite the rapid growth in the number of ethical funds on the market, the question of why asset management companies create this type of financial product has remained unexplored. Thus, we examine the main factors behind the decision of asset management companies to launch ethical funds. Our estimates show that the creation of an ethical fund is undertaken by financial companies with significant economic and human resources in order to communicate on their activity, to reinforce their CSR strategy, or to divert the attention of investors from their bad financial performance. Concerns related to the reputation of the financial company then appear to be essential in explaining the decision to create an ethical fund.