The winner of the 2017 FSI-PRI Scholarship for Best Research on Responsible Investment is Maxime Brochu from the University of Sherbrooke. He was awarded a $6,000 scholarship for his research paper on evaluating the impact of reputation (defined with ESG factors) on share price performance and on company risk for US listed companies (Vertueux vs. opportuniste, Analyse de l’effet réputation sur la performance des entreprises américaines short version).
The results confirm a correlation with reputation based on the performance of US listed companies between 2004 and 2014, where financial asset evaluation models that incorporated reputational risk factors showed superior performance.
Jacques Lussier, President of the Jury, presenting the prize.
From left to right: Milla Craig, Marie-Claude Provost, Philippe Bélanger, Maxime Brochu, Daniel Simard, Solène Hanquier, Frank Coggins (Supervisor, University of Sherbrooke), Ioana Circo (Jury Member, Université de Montréal)
The Co-leader of the Scholarship Steering Committee, Solène Hanquier, FSI Board Member and Sustainable Development Advisor at Groupe Desjardins opened the ceremony, welcoming the attendees and thanking the Scholarship sponsors.
Milla Craig, President and Co-Founder of FSI, and President and Co-Founder of Millani, set the table by presenting the latest statistics and trends in responsible investment. Daniel Simard, President of PRI Quebec Network and CEO of Bâtirente, highlighted the important contribution of university research to shared knowledge among professionals, followed by comments from Marie-Claude Provost of the Caisse de Caisse de dépôt et placement du Québec, an important sponsor of the Scholarship, who also thanked students for submitting their candidate research. The President of the jury, Jacques Lussier, Chief Executive Officer and Chief Investment Officer, Ipsol Capital, then presented the scholarship prize to Maxime, who outlined his research methods and key results.
More pictures are available on the FSI-IFD Facebook page.
The award was further highlighted at the PRI Quebec Network’s Colloque sur l’investissement responsable on October 26, 2017, where Jacques Lussier interviewed Maxime about his research.
The FSI and the PRI Quebec Network acknowledge the sponsors of the initiative: