---
title: Fundamentals-Based Material ESG Alpha
url: https://www.ml-quant.com/papers/ssrn/4684380/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4684380
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4684380
featured: 2024-01-09
citations: unknown
topic: Portfolio & Allocation
---


# Fundamentals-Based Material ESG Alpha

Firms with larger size, lower growth, and higher profitability are more likely to improve their ESG scores, but the portfolio doesn't generate alpha after considering its exposure to profitability and growth factors.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4684380
- Identifier: SSRN 4684380
- Released: 2024-01-04
- First featured: Quant Letter No. 32 (2024-01-09): https://www.ml-quant.com/issues/2024-01-09/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Portfolio & Allocation

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