Isolating the female agency‑driven development factor in external sovereign emerging market debt  

作　　者：Karim Henide Zaryab Ahmar 

机构地区：[1]London School of Economics,Houghton St,London WC2A 2AE,UK [2]iBoxx Fixed Income Indices,IHS Markit,Tower 185 Friedrich,Ebert‑Anlage 3537,60327 Frankfurt am Main,Germany

出　　处：《Financial Innovation》2023年第1期3064-3080,共17页金融创新（英文）

摘　　要：The underlying literature hypothesises and provides randomised evidence for the positive impact of promoting the broad-based inclusion,empowerment,and representation of women on regional ecosystems.This study seeks to isolate a female agencydriven development factor in external sovereign emerging market debt and finds evidence for superior risk-adjusted returns from tilting towards female agency leaders.We propose the female agency factor as an additional scope in the modern investor’s toolbox of holistic credit assessment,allowing investors to isolate the issuers which are the most effective sovereign transmission mechanisms of sustainable development capital.This contribution to the corpus supports the notion of integrating sustainability factors into portfolio construction and reinforces the argument for supporting femaleled development from a financial markets’perspective.

关 键 词：SOVEREIGN Fixed income Emerging markets SUSTAINABILITY Female agency 

分 类 号：F832[经济管理—金融学]