بررسي تاثير اجراي مولفه‌هاي مديريت سبز (ESG) در صندوق‌هاي سرمايه‌گذاري بر تمايل و اقبال سرمايه‌گذاران به سرمايه‌گذاري در صندوق

investigating the impact of implementing green managment component in investment funds on the willingness and luck of investors to invest in the fund

اﻣﺮوزه، ﻣﻮﺿﻮﻋﺎت مربوط به محيط زيست و جامعه سالم ، و همچنين اﻗﺪام در ﺟﻬﺖ ﺗﻮﺳﻌﻪ اﻗﺘﺼﺎدي ﻫﻤﺮاه ﺑﺎ ﺑﻬﺒﻮد شرايط زيست محيطي دﺮ ﻣﻘﯿﺎﺳﯽ وﺳﯿﻊﺗﺮ ﯾﻌﻨﯽ همزيستي با طبيعت ﻣﺘﻤﺮﮐﺰ ﻣﯽﺷﻮﻧﺪ. در ﻧﺘﯿﺠﻪ ﺑﻨﮕﺎهﻫﺎي اقتصادي، اﻫﺪاف و اﺳﺘﺮاﺗﮋي ﺧﻮد را ﺑﻪﮔﻮﻧﻪاي ﺑﺮﻧﺎﻣﻪرﯾﺰي ﻣﯽﻧﻤﺎﯾﻨﺪ ﮐﻪ اﺛﺮات ﻣﺜﺒﺘﯽ ﺑﺮ محيط زيست توامان با توسعه اﺟﺘﻤﺎعي و اقتصادي ﺑﻪ ﻫﻤﺮاه داﺷﺘﻪ ﺑﺎﺷﺪ.در سالهاي اخير ﺑﺮﺧﯽ ﺷﺮﮐﺖﻫﺎ پا را فراتر گذاشته و ﺑﺎ بكارگيري تاكتيكهاي مرتبط با (ESG) در كنار ﻣﺴﺌﻮﻟﯿﺖاﺟﺘﻤﺎﻋﯽ خود در ﭘﯽ اﯾﺠﺎد و ﺣﻔﻆ ﯾﮏ ﺗﺼﻮر ﺧﻮب و ﺟﻠﺐ اﻋﺘﻤﺎد ﺑﺎزار ﻫﺴﺘﻨﺪ. با توجه به اين موضوع ﻫﺪف از اﻧﺠﺎم ﭘﮋوﻫﺶ ﺣﺎﺿﺮ ﺑﺮرﺳﯽ ﺗﺎﺛﯿﺮ ﻫﻤﺰﻣﺎن مديريت سبز (ESG) در صندوق‌هاي سرمايه‌گذاري و تمايل ﺳﺮﻣﺎﯾﻪﮔﺬاران به سرمايه‌گذاري در صندوق‌ها ﻣﯽﺑﺎﺷﺪ . در اين پژوهش تعداد 130 صندوق سرمايه‌گذاري فعال در بازار بورس اوراق بهادار تهران به عنوان حجم نمونه مورد مطالعه انتخاب شد و اطلاعات مربوط به متغيرهاي مورد نياز آن از سالهاي 1395 الي 1400 جمع آوري گرديد . ﺟﻬﺖ آزﻣﻮن ﻓﺮﺿﯿﻪﻫﺎي ﭘﮋوﻫﺶ از روش ﻣﻌﺎدﻻت ﻫﻤﺰﻣﺎن و نرم افزار ايويوز نسخه (Eviews 9) اﺳﺘﻔﺎده ﺷﺪه اﺳﺖ. ﻧﺘﺎﯾﺞ حاكي از آن بود كه مديريت سبز (ESG) ﺑﺮ تمايل ﺳﺮﻣﺎﯾﻪﮔﺬاران به سرمايه‌گذاري در اين صندوق‌ها ، ﺗﺎﺛﯿﺮ ﻣﺜﺒﺖ، ﻣﻌﻨﺎدار و ﻫﻤﺰﻣﺎن دارد. اين بدان معناست كه درصورتي كه صندوق‌هاي سرمايه‌گذاري به سمت استفاده از تكنيك‌هاي مديريت سبز (ESG) پيش بروند اﯾﻦ اﻣﺮ واﮐﻨﺶ ﻣﺜﺒﺖ ﺑﺎزار ﺳﺮﻣﺎﯾﻪ را ﻧﺴﺒﺖ ﺑﻪ ارزش ﺳﻬﺎم اﯾﻨﮕﻮﻧﻪ ﺷﺮﮐﺖﻫﺎ در ﭘﯽ داشته و موجب اقبال سرمايه‌گذاران به سرمايه‌گذاري در اين صندوق‌هاي ميشود.

The issues related to the environment and healthy society, as well as actions for economic development along with the improvement of environmental conditions on a larger scale, that is, coexistence with nature, have been given more attention in today s world. For this reason, economic enterprises plan their goals and strategies in a way that has positive effects on the environment along with social and economic development. In recent years, some companies have gone further and by using tactics related to (ESG) along with their social responsibility, they are seeking to create and maintain a good image and attract the trust of the market. Considering this issue, the aim of this research is to investigate the simultaneous effect of green management (ESG) in investment funds and the willingness of investors to invest in funds. In this research, 130 active investment funds in the Tehran Stock Exchange market were selected as the sample size for the study and the information related to the required variables was collected from 1395 to 1400 (2016-2022). To measure the hypotheses of the research, the method of simultaneous equations and Eviews software version (Eviews 9) have been used. The results indicated that green management (ESG) has a positive, significant and simultaneous effect on investors willingness to invest in these funds. In this research, it was shown that if the investment funds move towards the use of green management techniques (ESG), this will result in a positive reaction of the capital market to the value of the shares of such companies.