INFORMATIONAL ASYMMETRY NEUTRALIZATION OF THE RESPONSIBLE INVESTMENT MARKETS: WORLD EXPERIENCE
Abstract
Responsible investment markets are an important source of funding for sustainable development initiatives and a dynamic segment of the financial market, which, incidentally, is not deprived of information asymmetry. The presence of unfavorable selection mechanisms and opportunistic behavior of managers in the responsible investment markets distorts market mechanism and transparency of the market environment. In the context of increasing information transparency of responsible investment markets, global rating practices are summarized as a method of neutralizing information asymmetry in responsible investment markets and its key instruments are disclosed. The analysis of rating status in the markets for responsible investment in terms of rating products, the structure of rating issuers, target audience – stakeholders and key ESG-criterions allowed us to conclude that the importance of this method of neutralizing information asymmetry.
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