An emulsion composition prepared by the emulsion polymerization of a polymerizable vinyl monomer in the presence of an emulsifier characterized in that the emulsifier is a neutralized copolymer of (A) a monomer prepared by being allowed at least one glycidyl ester of arcylic acid and methacrylic acid to react with at least one fatty acid of drying oil fatty acid and semi-drying oil fatty acid, (B) alpha , beta -ethylenically unsaturated acid and (C) an unsaturated monomer containing substantially no carboxyl group and having a Q value of at least 0.1 as determined by Q-e theory.
