When, If Ever, Does ESG Matter Among Retail Investors? Best-Worst Choices by Americans, Chinese, Germans, and Brazilians
Research about how retail- vs professional investors (RIs vs PIs) respond to corporate social performance (CSP) when making investment decisions remains elusive. This study investigates how RI groups from China, Germany, Brazil, and U.S (n=452) prioritize CSP when making investment decisions. The study investigates investment decisions based on environmental, social, and governance (ESG) activities and their corresponding performance scores. We find ESG preference homogeneity among RIs in general to be equally important, and heterogenic preference regarding ESG item desirability specifically (the āSā category being the most important), when making investment decisions. We find for example that firms having female board members or collaborates with labor unions (a value add among PIs) are in contrast not valued ESG activities among RIs. The research further finds that paying fair wages, ensuring safe working conditions, and combating child labor in supply chains are most important to retail investors
Year of publication: |
[2023]
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Authors: | Isaksson, Lars ; Mathews, Shane |
Publisher: |
[S.l.] : SSRN |
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