Institutional Investors and Esg-Transformation of Finance Market
https://doi.org/10.21686/2413-2829-2026-2-125-132
Abstract
The article studies standing of institutional investors on finance market during ESG-transformation. Focus is made on two types of finance intermediaries representing capital to participants of finance market corporate sector: investment funds and credit organizations. The authors found that institutional investors act as a link between finance market regulators and other participants of economic relations in the process of ESG-transformation. It was proved that active ESG-transformation of finance market started after 2015, when regulation documents of fiduciary responsibilities of institutional investors with regard to ESG-indicators came into being. At the same time the authors provide reasons why institutional investors prefer incorporate issuers’ securities that meet ESG criteria. The authors also explain why institutional investors take an active part in ESG-transformation of finance market, promoting, firstly, creating the trend for long-term investment to strengthen financial stability and secondly, reducing the necessity to elaborate and adopt modal legislation supporting the current rate of freedom of economic relation acceptance.
About the Authors
R. O. Voskanian
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
Roza O. Voskanian - PhD, Associate Professor, Associate Professor of the Department for Finance of Sustainable Development
36 Stremyanny Lane, Moscow, 109992, Russian Federation
K. V. Ekimova
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
Ksenia V. Ekimova - Doctor of Economics, Professor, Professor of the Department for Finance of Sustainable Development
36 Stremyanny Lane, Moscow, 109992, Russian Federation
E. B. Shuvalova
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
Elena B. Shuvalova - Doctor of Economics, Professor, Professor of the Department for Finance of Sustainable Development
36 Stremyanny Lane, Moscow, 109992, Russian Federation
References
1. Vashchenko T. V., Dokhoyan Z. M., Shubina T. V. Vliyanie povedencheskikh faktorov na finansovo-investitsionnye resheniya v sisteme tsennostno orientirovannogo upravleniya kompaniey [The Influence of Behavioral Factors on Financial and Investment Decisions in the Company's Value-Based Management System]. Tallinn, Open European Academy of Public Sciences OÜ, 2022. (In Russ.).
2. Konstantinov K. B., Lisovskaya I. A. KSO-otchetnost i razvitie investitsionnogo rynka v Rossii [CSR-Reporting and Investment Market Development in Russia]. Vestnik Povolzhskogo gosudarstvennogo tekhnologicheskogo universiteta. Seriya: Ekonomika i upravlenie [Bulletin of the Volga State Technological University. Series: Economics and Management], 2023, No. 4 (59), pp. 43–53. (In Russ.).
3. Mizes L. Chelovecheskaya deyatelnost: traktat po ekonomicheskoy teorii [Human Activity: a Treatise on Economic Theory]. Chelyabinsk, Sotsium, 2012. (In Russ.).
4. Natocheeva N. N., Foshkin A. E. Metody upravleniya bankovskimi ESG-riskami [Methods of Bank ESG Risk Management]. Bankovskoe delo [Banking], 2023, No. 2, pp. 63–67. (In Russ.).
5. Khmyz O. V. Ustoychivye investitsii i divestitsii institutsionalnykh investorov globalnogo urovnya [Sustainable Investments and Divestments of Global Institutional Investors]. Finansoviy zhurnal [Financial Magazine], 2024, Vol. 16, No. 1, pp. 96–108. (In Russ.).
6. Chernyshova M. V. ESG i otvetstvennoe institutsionalnoe investirovanie [ESG and Responsible Institutional Investment]. Nauchnye trudy Volnogo ekonomicheskogo obshchestva Rossii [Scientific Works of the Free Economic Society of Russia], 2021, Vol. 229, No. 3, pp. 98–120. (In Russ.).
7. Yagov A. O., Gordienko M. S. Mekhanizmy i kanaly vliyaniya zelenoy ekonomiki na razvitie korporativnykh finansov v SShA i ES [Mechanisms and Channels of Influence of the Green Economy on the Development of Corporate Finance in the USA and the EU]. Nauchnye issledovaniya i razrabotki. Ekonomika firmy [Scientific Research and Development. Economics of the Firm], 2023, Vol. 12, No. 3, pp. 55–62. (In Russ.).
Review
For citations:
Voskanian R.O., Ekimova K.V., Shuvalova E.B. Institutional Investors and Esg-Transformation of Finance Market. Vestnik of the Plekhanov Russian University of Economics. 2026;(2):125-132. (In Russ.) https://doi.org/10.21686/2413-2829-2026-2-125-132
Views:
176
JATS XML
Email this article 