Integration of ESG Metrics into a Student-Managed Fund: <i>Creating Sustainable Student-Managed Funds</i>

Ascioglu, Asli; Saatcioglu, Kemal; Smith, Adam M.

doi:10.3905/jot.2018.13.1.059

Cited by 5 publications

(5 citation statements)

References 8 publications

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“…Further, ESG inclusion may also be useful for risk mitigation (G€ orgen et al, 2019). Ascioglu et al (2017) provide insight on its own inclusion of an ESG framework for its SMIF program, and Ascioglu and Maloney (2019) expand on this insight by describing the management of the stock selection process and the ESG integration along with its other asset consideration. In addition, Brune and Files (2019) discuss ESG integration into their portfolio as a method of positive screening for biblical values.…”

Section: Stream 3: Innovations and Trendsmentioning

confidence: 99%

Student-managed investment funds: a review and research agenda

Abukari

Oldford

Willcott

2021

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PurposeIn recent years, student-managed investment funds (SMIFs), experiential learning programs at an increasing number of universities, have attracted significant scholarly interest. In this article, we review the academic literature on this pedagogy.Design/methodology/approachWe use the systematic review method to assess a sample of 85 articles published in 30 journals during the period 1975 to 2020.FindingsOur literature review reveals four streams of research: best practices and challenges, investment management, innovation and trends and SMIFs in a research setting. We also propose future research directions, including specific gaps in the literature, a focus on innovations to traditional programs, systematic investment performance and expansion into behavioral finance issues.Originality/valueWe contribute a comprehensive view of the body of scholarship on SMIFs, identifying existing streams of research and future research directions that will help guide the development of SMIF research into a cohesive and productive space.

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Section: Stream 3: Innovations and Trendsmentioning

confidence: 99%

Student-managed investment funds: a review and research agenda

Abukari

Oldford

Willcott

2021

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“…However, each of these studies also describes how students use ESG rankings or screens to make investment decisions. For example, Ascioglu et al (2017) discusses how their SMIF, Archway Investment Fund, uses the Sustainalytics database data for ESG rankings and scores and, to supplement ESG rankings, compares them to benchmarks for industry holdings. While these programs are making progress, the use of rankings and screens described by these studies circumvents the development of a student's analytical skills related to ESG analysis.…”

Section: A Pathway Forward: Smifs As a Venue For Teaching Esg Skillsmentioning

confidence: 99%

“…Existing research that discusses ESG within SMIF analysis and decision-making is small but growing. Clinebell (2013), Ascioglu et al (2017), Ascioglu and Maloney (2019), Saunders (2015), Ghosh et al (2019), and Brune and Files (2019) each discuss how ESG integration into a SMIF has permitted students to achieve risk-adjusted returns, to mitigate risk and to adhere to an ethical consideration within their organizations. Further, Saunders (2015) engages students in the process of attending shareholder meetings and getting students to practice shareholder advocacy and engagement through socially responsible investing (SRI).…”

mentioning

confidence: 99%

Can student managed investment funds (SMIFs) narrow the environmental, social and governance (ESG) skills gap?

Oldford

Willcott

Kennie

2021

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PurposeThe purpose of this paper is twofold. First, it endeavors to document the current state of environmental, social and governance (ESG) pedagogy within undergraduate finance courses of business schools, and second, it seeks to show how business schools can leverage student managed investment funds (SMIFs) to swiftly integrate ESG pedagogy.Design/methodology/approachThe study is comprised of two sections that use different methodologies. The first part of the study involves a manual content analysis of undergraduate finance course textbooks, and related instructor materials are used to estimate the average coverage of ESG-related topics. Next, a case study of a SMIF that has recently integrated an ESG framework is provided to illustrate how this pedagogical innovation is effective in teaching ESG skills.FindingsThe findings of the content analysis of the three most commonly used textbooks in a sample of 17 Canadian universities, as well as associated instructor material, provide evidence that the primary emphasis in traditional curriculum remains on the shareholder, with little attention paid to ESG factors. The case study of an existing SMIF clearly demonstrates how a student-led development of an ESG framework provides the setting for effective, experiential learning.Originality/valueThis study shows that while traditional teaching settings, like lectures, may be slow to adapt to the rapidly changing needs of industry, nontraditional teaching venues, such as SMIFs, can be leveraged to meet industry demand for ESG skills, thereby closing the skills gap, enhancing student employability and increasing the relevance of business school education.

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“…Although there are case studies that show off benchmark-beating returns by SMIFs (e.g. Ascioglu et al, 2018), it is hard to have a comprehensive investigation of SMIF performance. The data are just not available.…”

Section: Studentmanaged Investment Fundsmentioning

confidence: 99%

Student-managed investment funds: seven mismatches and three recommendations

Lin

2021

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PurposeThe purpose of this paper is to investigate the embedded challenges of student-managed investment funds (SMIFs) and provide recommendations to work with these issues.Design/methodology/approachThe paper analyzes and critiques the ways SMIFs are structured and operated and makes several suggestions.FindingsThe paper details seven unique challenges of SMIFs compared to professionally managed investment funds. The source of these challenges is that SMIFs are set up for educational purposes, which makes the operation and management different from performance-focused investment funds. The paper proposes several recommendations on how to align the educational focus with fund performance.Originality/valueThe paper is original and based on primary research.

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Integration of ESG Metrics into a Student-Managed Fund: Creating Sustainable Student-Managed Funds

Cited by 5 publications

References 8 publications

Student-managed investment funds: a review and research agenda

Student-managed investment funds: a review and research agenda

Can student managed investment funds (SMIFs) narrow the environmental, social and governance (ESG) skills gap?

Student-managed investment funds: seven mismatches and three recommendations

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