... that is economically significant for institutional investors. Our findings indicate that ESG investing cannot achieve its goals when confined to a limited set of firms and initiatives for more companies to participate in embedding ESG into their business should come together. This reinforces the argument...

... as the number of investors increases due to the increased investor attention. Next, we examine how the degree of attention of institutional, individual, and foreign investors affects each other. The analysis reveals that the attention of individual investors affects the attention of institutional investors...