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Fuzzy confrontations of models of ESG investing versus non-ESG investing based on artificial intelligence algorithms

Author

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  • Stanislav Škapa
  • Nina Bočková
  • Karel Doubravský
  • Mirko Dohnal

Abstract

ESG (Environmental, social, and corporate governance) parameters are involved in investing-related decision-making. DESG (Dominantly ESG) related investing represents a complex tasks studied under severe information shortages. NESG (Non-dominantly ESG) investing either ignores ESG parameters completely or it takes it as less important. ESG investing is partially DESG and partially NESG. A very simple fuzzy reasoning algorithm is used to find out the similarity between DESG and NESG in this paper. A similarity graphs is generated. An edge represents a fuzzy similarity between two nodes / conditional statements. Each statement specifies fuzzy conditions under which some DESG/NESG tools are mutually similar or totally dissimilar. Examples of investing tools are Developed Markets, Emerging Markets Small Caps, Sustainability Index and Environmental Social Governance Index. The following five parameters of investing tools are Risk, Cost, Return, Drop, and Correlation. Low pairwise fuzzy similarities between DESG and NESG are detected.

Suggested Citation

  • Stanislav Škapa & Nina Bočková & Karel Doubravský & Mirko Dohnal, 2023. "Fuzzy confrontations of models of ESG investing versus non-ESG investing based on artificial intelligence algorithms," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 13(1), pages 763-775, January.
    • Handle: RePEc:taf:jsustf:v:13:y:2023:i:1:p:763-775
    DOI: 10.1080/20430795.2022.2030666
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    Cited by:

    1. Trotta, Annarita & Rania, Francesco & Strano, Eugenia, 2024. "Exploring the linkages between FinTech and ESG: A bibliometric perspective," Research in International Business and Finance, Elsevier, vol. 69(C).
    2. Roberto Moro-Visconti & Salvador Cruz Rambaud & Joaquín López Pascual, 2023. "Artificial intelligence-driven scalability and its impact on the sustainability and valuation of traditional firms," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-14, December.

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