PT - JOURNAL ARTICLE AU - Soohun Kim AU - Aaron S. Yoon TI - United Nations Principles for Responsible Investment Signatories: Evangelists or Hypocrites? AID - 10.3905/jesg.2022.1.050 DP - 2022 Aug 31 TA - The Journal of Impact and ESG Investing PG - 134--139 VI - 3 IP - 1 4099 - https://pm-research.com/content/3/1/134.short 4100 - https://pm-research.com/content/3/1/134.full AB - Kim and Yoon (2021) assess whether active US mutual funds exhibit ESG implementation after they sign the United Nations Principles for Responsible Investment (PRI). In a stark contrast to the fact that PRI signatories attract a large fund inflow, we do not observe improvements in fund-level ESG scores or fund returns. Furthermore, PRI signatories are not likely to be superior in ESG issues prior to signing relative to non-PRI funds. Given these findings, a reasonable reader may perceive PRI signatories as hypocrites rather than evangelists.