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Zoltán Nagy

Zoltán Nagy
Executive Director, MSCI Research

About the Contributor

Zoltán Nagy is a member of the Equity Core Research team. In this role, he focuses on questions related to the integration of factors and ESG considerations into the equity portfolio management process. Zoltan joined MSCI in 2008, and first worked on the development of new index methodologies and on other index-related research. Prior to entering finance, Zoltan was a post-doctoral researcher at the University of Algarve, Faro, Portugal, where his area of research was Quantum Integrable Systems. Zoltan holds a PhD degree in Theoretical Physics from the University of Cergy-Pontoise, France, and an engineering degree from the Ecole Polytechnique, France. He is also a CFA® charterholder.

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Blog posts by Zoltán Nagy

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  1. BLOG

    ESG Ratings: How the Weighting Scheme Affected Performance 

    Jun 29, 2020 Zoltán Nagy , Linda-Eling Lee , Guido Giese

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    Our recent research suggests that environmental and social issues were more industry specific and tended to show up in financial measures over a longer time frame compared to governance issues. How can E, S and G issues be combined?

  2. BLOG

    Which ESG Issues Mattered Most? Defining Event and Erosion Risks 

    Jun 22, 2020 Guido Giese , Zoltán Nagy , Linda-Eling Lee

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    Very different ESG issues can be material for different industries. Our research suggests that risks can be divided into two main types: “event” risks and “erosion” risks to companies’ long-term competitiveness. Which ones mattered most for E, S and G?

  3. BLOG

    Is ESG All About the ‘G’? That Depends on Your Time Horizon. 

    Jun 15, 2020 Linda-Eling Lee , Guido Giese , Zoltán Nagy

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    The conventional wisdom has it that governance is the most dominant of the three E, S and G pillars. But our analysis finds different results when looking at contribution to performance over different time horizons.

  4. BLOG

    Quitting tobacco stocks without going through withdrawal 

    Oct 15, 2018 Zoltán Nagy

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    Despite strong headwinds, including renewed divestment pressure,1 the tobacco industry has proved quite resilient financially and outperformed the stock market over the past 18-1/2 years. So much so, that some institutional investors are now thinking of lifting tobacco bans in their investment policies. We found that most of the gains associated with holding tobacco stocks over this period were not specific to the tobacco industry, and could have been obtained in other ways. We also show it would have been possible to divest from tobacco without taking a hit to portfolio performance during our sample period.

  5. BLOG

    Investing for the Long Run: ESG and Performance Drivers 

    Sep 4, 2017 Zoltán Nagy

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    We see a growing number of institutional investors seeking to avoid financial risks associated with environmental, social and governance (ESG) factors, or even to enhance returns by investing in companies that have strong ESG track records. As we wrote in an earlier blog post, these investors are typically looking to limit the number of companies excluded from their portfolios, both to avoid sacrificing diversification and to be active owners able to engage with corporate management.

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