{"version":"1.0","provider_name":"Fortune Insight","provider_url":"https:\/\/prime.fortuneinsight.com\/web","author_name":"\u9322\u741b","author_url":"https:\/\/prime.fortuneinsight.com\/web\/posts\/author\/chinshun","title":"\u5f9e\u7d71\u8a08\u5957\u6225\u5230\u91d1\u878d\u6297\u722d - Fortune Insight","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\"><a href=\"https:\/\/prime.fortuneinsight.com\/web\/posts\/482778\">\u5f9e\u7d71\u8a08\u5957\u6225\u5230\u91d1\u878d\u6297\u722d<\/a><\/blockquote>\n<script type='text\/javascript'>\n<!--\/\/--><![CDATA[\/\/><!--\n\t\t!function(c,d){\"use strict\";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var r,a,i,s=d.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),n=d.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),o=0;o<n.length;o++)n[o].style.display=\"none\";for(o=0;o<s.length;o++)if(r=s[o],e.source===r.contentWindow){if(r.removeAttribute(\"style\"),\"height\"===t.message){if(1e3<(i=parseInt(t.value,10)))i=1e3;else if(~~i<200)i=200;r.height=i}if(\"link\"===t.message)if(a=d.createElement(\"a\"),i=d.createElement(\"a\"),a.href=r.getAttribute(\"src\"),i.href=t.value,i.host===a.host)if(d.activeElement===r)c.top.location.href=t.value}}},e)c.addEventListener(\"message\",c.wp.receiveEmbedMessage,!1),d.addEventListener(\"DOMContentLoaded\",t,!1),c.addEventListener(\"load\",t,!1);function t(){if(!n){n=!0;for(var e,t,r=-1!==navigator.appVersion.indexOf(\"MSIE 10\"),a=!!navigator.userAgent.match(\/Trident.*rv:11\\.\/),i=d.querySelectorAll(\"iframe.wp-embedded-content\"),s=0;s<i.length;s++){if(!(e=i[s]).getAttribute(\"data-secret\"))t=Math.random().toString(36).substr(2,10),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t);if(r||a)(t=e.cloneNode(!0)).removeAttribute(\"security\"),e.parentNode.replaceChild(t,e)}}}}(window,document);\n\/\/--><!]]>\n<\/script><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/prime.fortuneinsight.com\/web\/posts\/482778\/embed\" width=\"600\" height=\"338\" title=\"&#8220;\u5f9e\u7d71\u8a08\u5957\u6225\u5230\u91d1\u878d\u6297\u722d&#8221; &#8212; Fortune Insight\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe>","thumbnail_url":"https:\/\/prime.fortuneinsight.com\/web\/wp-content\/uploads\/2020\/04\/Hong-Kong-Umbrella-Movement.jpg","thumbnail_width":1200,"thumbnail_height":675,"description":"\u8981\u52a0\u901f\u91d1\u878d\u6297\u722d\uff0c\u5fc5\u5b9a\u8981\u6709\u7d93\u6fdf\u8a98\u56e0\uff0c\u5426\u5247\u96e3\u4ee5\u6210\u4e8b\u3002\u7b46\u8005\u807d\u904e\u4e0d\u5c11\u6709\u5fc3\u4eba\u63d0\u53ca\u4e0d\u5c11\u5efa\u8b70\uff0c\u00a0\u552f\u90e8\u4efd\u5efa\u8b70\u8a98\u56e0\u4e0d\u8db3\u3002\u601d\u524d\u60f3\u5f8c\uff0c\u767c\u73fe\u5c07\u7d71\u8a08\u5957\u6225\uff08statistical arbitrage\/StatArb\uff09\u914d\u5408\u5916\u570b\u6d41\u884c\u7684ESG\u6295\u8cc7\u6982\u5ff5\uff0c\u53ef\u80fd\u53ef\u4ee5\u52a0\u901f\u6297\u722d\u9032\u7a0b\u3002 \u5148\u8ac7\u80cc\u666f\u8cc7\u6599\u5427\u3002\u7d71\u8a08\u5957\u6225\u70ba\u4e00\u7a2e\u4ea4\u6613\u7b56\u7565\uff0c\u6982\u5ff5\u4e0a\u662f\u4f7f\u7528\u67d0\u7a2e\u65b9\u6cd5\u627e\u51fa\u88ab\u4f4e\u4f30\u53ca\u88ab\u9ad8\u4f30\u7684\u8cc7\u7522\uff0c\u7136\u5f8c\u540c\u6642long\u524d\u8005\u53cashort\u5f8c\u8005\u3002\u8a73\u7d30\u64cd\u4f5c\u8f03\u70ba\u6df1\u5967\uff0c\u7b46\u8005\u5728\u4ea4\u6613\u8ab2\u7a0b\u4e0a\u6709\u66f4\u591a\u89e3\u91cb\uff0c\u5728\u6b64\u4e0d\u8d05\u3002\u81f3\u65bcESG\u6295\u8cc7\u5247\u662f\u4e00\u7a2e\u6295\u8cc7\u7406\u5ff5\uff0c\u5927\u81f4\u4e0a\u662f\u8a8d\u70ba\u6703\u7167\u9867\u6240\u6709\u6301\u4efd\u8005\uff08\u5305\u62b1\u96c7\u54e1\u3001\u74b0\u5883\u4fdd\u8b77\u8005\u7b49\uff09\u4e4b\u4f01\u696d\u7684\u5167\u5728\u503c\u6703\u4e0a\u5347\uff0c\u53cd\u4e4b\u4ea6\u7136\u3002\u653f\u5e9c\/\u76e3\u7ba1\u6a5f\u69cb\u5c0dESG\u4e4b\u63aa\u65bd\uff0c\u4ea6\u6703\u5f71\u97ff\u5e02\u5834\u5728\u9019\u5c64\u9762\u7684\u6548\u7387\uff0c\u6709\u4e0d\u5c11\u5916\u570b\u4f8b\u5b50\u53ef\u4ee5\u8a0e\u8ad6\uff0c\u4e4b\u5f8c\u8a73\u8ac7\u3002 \u672c\u6e2f\u5e02\u5834\u6bd4\u7f8e\u570b\u7406\u8ad6\u4e0a\u64c1\u6709\u8f03\u4f4e\u5e02\u5834\u6548\u7387\uff08market efficiency\uff09\uff0c\u6709\u826f\u597d\u8072\u671b\u3001\u4ee5\u6e2f\u4eba\u70ba\u5148\u7684\u4f01\u696d\u4f30\u503c\u53ef\u80fd\u6703\u88ab\u4f4e\u4f30\uff0c\u8072\u671b\u5dee\u3001\u80cc\u68c4\u6e2f\u4eba\u7684\u4f01\u696d\u4f30\u503c\u53c8\u53ef\u80fd\u88ab\u9ad8\u4f30\uff0c\u7d50\u679c\u4ee4\u524d\u8005\u8ca1\u653f\u4e0a\u8655\u65bc\u52a3\u52e2\u3002\u597d\u6d88\u606f\u662f\uff0c\u5982\u679c\u6709\u4ea4\u6613\u7b56\u7565\u53ef\u4ee5\u5728\u6b64\u932f\u8aa4\u5b9a\u50f9\uff08mispricing\uff09\u4e2d\u7372\u5229\uff0c\u6295\u8cc7\u8005\u9ad8\u8208\u4e4b\u9918\uff0c\u512a\u8cea\u8207\u5dee\u52a3\u7684\u4f01\u696d\u4ea6\u80fd\u88ab\u5408\u7406\u4f30\u503c\uff0c\u4f01\u696d\u7684\u826f\u5fc3\u53ef\u4ee5\u53cd\u6620\u5728\u5e02\u503c\u4e0a\uff0c\u63d0\u9ad8\u6574\u9ad4\u5e02\u5834\u6548\u7387\uff0c\u4e00\u8209\u591a\u5f97\u3002 \u8070\u660e\u7684\u8b80\u8005\u61c9\u8a72\u77e5\u9053\uff0c\u9019\u7a2e\u4ea4\u6613\u7b56\u7565\u5c31\u662f\u7d71\u8a08\u5957\u6225\u3002\u7528\u4ee5\u56de\u6e2c\uff08backtesting\uff09\u7684\u7b56\u7565\u908f\u8f2f\u975e\u5e38\u7c21\u55ae\uff0c\u5c31\u662f\u6bcf\u5929\u70ba\u4e00\u7c43\u5b50\u6e2f\u80a1\u5b9a\u7acbESG\u5206\u6578\uff0c\u5206\u6578\u8d8a\u9ad8\uff0c\u516c\u53f8ESG\u8868\u73fe\u8d8a\u597d\u3002\u7136\u5f8c\uff0clong\u6574\u500b\u7c43\u5b50\u7684\u4e00\u5c0f\u7d44\u64c1\u6709\u6700\u9ad8ESG\u5206\u6578\u7684\u80a1\u7968\uff0cshort\u4e00\u5c0f\u7d44\u64c1\u6709\u6700\u4f4eESG\u5206\u6578\u7684\u80a1\u7968\u3002\u518d\u8005\uff0c\u5c07\u6b64\u908f\u8f2f\u61c9\u7528\u5728\u6e2f\u80a1\u7684\u6b77\u53f2\u6578\u64da\u4e2d\uff0c\u6aa2\u67e5\u7b56\u7565\u8868\u73fe\uff0c\u518d\u56e0\u61c9\u8868\u73fe\u6539\u5584\u7b56\u7565\uff0c\u5b8c\u6210\u56de\u6e2c\u3002\u4f46\u7b56\u7565\u6709\u6a5f\u6703\u7372\u5229\u55ce\uff1fSimon Glossner\u57282017\u5e74\u7684\u7814\u7a76\u6307\u51fa\uff0c\u8072\u671b\u98a8\u96aa\uff08reputation risk\uff09\u8f03\u9ad8\u7684\u4f01\u696d\uff0c\u5728\u56de\u6e2c\u4e2d\u64c1\u6709negative alpha\uff0c\u53ef\u898b\u7b56\u7565\u7684\u6f5b\u5728\u56de\u5831\u3002 \u6700\u91cd\u8981\u7684\u554f\u984c\u662f\uff1a\u5982\u4f55\u91cf\u5ea6ESG\u5206\u6578\uff1f\u5148\u770b\u770b\u5916\u570bresearch paper\u7684\u7d50\u679c\u5427\u3002Glossner\u7684\u7814\u7a76\u4e2d\u91cf\u5ea6\u8072\u671b\u98a8\u96aa\u7684\u6578\u64da\u6e90\u65bc\u4e00\u500b\u540d\u70baRepRisk\u7684\u6578\u64da\u5eab\u3002\u6578\u64da\u5eab\u6703\u6839\u64da\u4e00\u500b\u6708\u5167\u7684\u65b0\u805e\u5167\u5bb9\uff0c\u70ba\u4e0d\u540c\u4f01\u696d\u5236\u5b9a\u4e00\u500bRepRisk\u5206\u6578\u3002\u61c9\u7528\u985e\u4f3c\u908f\u8f2f\u7684\u8a71\uff0c\u4f7f\u7528\u81ea\u7136\u8a9e\u8a00\u8655\u7406\uff08natural language processing\/NLP\uff09\u7a0b\u5f0f\u5206\u6790\u6bcf\u5929\u7684\u4f01\u696d\u65b0\u805e\uff0c\u5c31\u53ef\u4ee5\u91cf\u5316\u6bcf\u9593\u4f01\u696d\u6bcf\u5929\u7684ESG\u5206\u6578\u3002\u91cf\u5316ESG\u8868\u73fe\u5f8c\uff0c\u66f4\u53ef\u5275\u9020rating effect\uff0c\u8b93ESG\u70ba\u4e3b\u984c\u7684\u57fa\u91d1\u589e\u6301\u512a\u8ceaESG\u4f01\u696d\uff0c\u63a8\u9ad8\u5176\u5e02\u503c\u3002 \u7b46\u8005\u4e0d\u60f3\u64d4\u7576\u751a\u9ebc\u300c\u51b7\u6c23\u8ecd\u5e2b\u300d\uff0c\u53ea\u6c42\u300c\u505a\u96bb\u5352\u4ed4\u300d\uff0c\u904b\u7528\u81ea\u5df1\u4f5c\u70ba\u8a08\u91cf\u5206\u6790\u54e1\u7684\u7d93\u9a57\uff0c\u70ba\u9019\u500bNLP\u5de5\u5177\u51fa\u4e00\u5206\u529b\u3002\u6709\u7de8\u7a0b\u80cc\u666f\u7684\u670b\u53cb\uff0c\u4e0d\u59a8\u53ef\u4ee5\u7814\u7a76\u4e00\u4e0b\uff0c\u500b\u4eba\u8a8d\u70ba\u8981\u5165\u624b\uff0cpython\u4e2d\u7684gensim\u53caNLTK\u662f\u4e0d\u932f\u9078\u64c7\uff0c\u5176\u4e2dgensim\u7684documentation\u66f4\u975e\u5e38user-friendly\uff0c\u6613\u5b78\u6613\u660e\u3002\u80fd\u8a2d\u7acb\u4e0a\u8ff0\u7cfb\u7d71\uff0c\u7cbe\u6e96\u5730\u8a08\u7b97\u6bcf\u9593\u516c\u53f8\u7684ESG\u5206\u6578\uff0c\u4ee4\u4e0d\u540c\u57fa\u91d1\u7684\u7b56\u7565profitable\u7684\u8a71\uff0c\u8981\u8cc7\u91d1\u7559\u9032\u300c\u771f\u00b7\u9999\u6e2f\u4f01\u696d\u300d\u5c31\u4e0d\u662f\u5922\u3002"}