15:30 - 16:45
Zoom (email for link)
Dr Keer Yang
Lectures, talks and seminars
Essex Finance Centre
Dr Mehmet Furkan Karaca m.f.karaca@essex.ac.uk
The Essex Finance Centre (EFiC) warmly invites you to join the research seminar with Dr Keer Yang from University of California, Davis.
We use machine learning to classify U.S. mutual funds’ sustainable investment strategies. Among 1,523 funds managing $1.7T in 2023, 88% of assets are financially motivated, 10% morally driven, and just 2% impact focused.
Financial funds tilt toward already-green firms; moral funds use exclusionary screens and face low flow-performance sensitivity. Only impact funds target higher-emission sectors and are associated with reductions in carbon intensity. Despite criticism that ESG funds sacrifice returns for ideological goals, most do not aim for real-world impact.
As financial and moral funds dominate, most U.S. sustainable capital is unlikely to yield measurable environmental or social improvements.
Keer Yang’s research interests in fintech and machine learning in finance are inspired by the recent revolution in new technologies that affect both financial markets and academic finance research. Through his research, he seeks to understand how financial technologies could contribute to more efficient, equitable, and inclusive financial markets. Much of his work explores machine learning methods in finance research to improve the understanding of financial markets. He utilizes machine learning methods for causal inference, prediction, and big data analysis to explain financial behaviours that traditional methods fail to explain. His work has been published in leading journals such as Journal of Financial Economics.
Yang earned his Ph.D. in finance from University of Minnesota. He received his B.S. in mathematics and applied mathematics from Zhejiang University in China and earned his M.Res. in economic theory and econometrics from Toulouse School of Economics in France.