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Do retail investors value environmental impact? : a lab-in-the-field experiment with crowdfunders

Siemroth, Christoph; Hornuf, Lars - 2021

Are investors willing to give up a higher return if the investment generates positive environmental impact? We investigate this question with a decision experiment among crowdfunders, where they choose between a higher return or environmental impact. Overall, 65% of investors choose...

Persistent link: https://www.econbiz.de/10012597881

What do you think about climate finance?

Stroebel, Johannes; Wurgler, Jeffrey - 2021

We survey 861 finance academics, professionals, and public sector regulators and policy economists about climate finance topics. They identify regulatory risk as the top climate risk to businesses and investors over the next five years, but they view physical risks as the top risk over the next...

Persistent link: https://www.econbiz.de/10012643549

"My name is Bond. Green Bond." : informational efficiency of climate finance markets

Gronwald, Marc; Wadud, Sania - 2024

This paper investigates the informational efficiency of green bond markets using a recently introduced quantitative measure for market inefficiency. The methodology assesses the deviation of observed asset price behavior from the Random Walk benchmark, which represents an efficient market. The...

Persistent link: https://www.econbiz.de/10014505807

Sustainable finance and climate change : wasteful but a political commitment device?

Fuest, Clemens; Meier, Volker - 2022

Promoting investment in low carbon "clean" sectors has gained popularity over the last years under the heading of sustainable finance, at the same time raising concerns about adverse welfare effects of such policies. We analyze the economic impact of subsidizing investment in "clean" industries...

Persistent link: https://www.econbiz.de/10012803762

The environmental and macroeconomic effects of socially responsible investment

Dam, Lammertjan (contributor); Heijdra, Ben J. (contributor) - 2008

We analyze the effects of socially responsible investment and public abatement on environmental quality and the economy in a continuous-time dynamic growth model featuring optimizing households and firms. Environmental quality is modelled as a renewable resource. Consumers can invest in...

Persistent link: https://www.econbiz.de/10003730310

The performance of socially responsible investments : a meta-analysis

Hornuf, Lars; Yüksel, Gülistan - 2022

In this article, we use a meta-analysis to examine the performance of socially responsible investing (SRI). After a thorough literature search, we review 153 empirical studies containing 1,047 observations of SRI performance. We find that, on average, SRI neither outperforms nor underperforms...

Persistent link: https://www.econbiz.de/10013186761

Social preferences and portfolio choice

Riedl, Arno; Smeets, Paul - 2013

This paper explores whether social preferences influence portfolio choices of retail investors. We use administrative investor trading records which we link to decisions of the same investors in experiments with real money at stake. We show that social preferences rather than return expectations...

Persistent link: https://www.econbiz.de/10010189840

Are sustainability-oriented investors different? : evidence from equity crowdfunding

Hornuf, Lars; Stenzhorn, Eliza; Vintis, Tim - 2020

compare the investment behavior of sustainability-oriented with ordinary crowd investors on six leading equity crowdfunding … the event and if investors experience more than two insolvencies. Moreover, we find that sustainability-oriented investors … sustainability-oriented crowd investors care about non-financial returns, as they react more sensitively after experiencing a default …

Persistent link: https://www.econbiz.de/10012226560

Prices versus quantities reassessed

Karp, Larry S.; Traeger, Christian - 2018

"Prices versus quantities" (Weitzman 1974), a hugely influential paper, is widely cited (and taught) in current debates about the best policy to reduce greenhouse gas emissions. The paper's criterion for ranking policies suggests that technological uncertainty favors taxes over cap and trade....

Persistent link: https://www.econbiz.de/10011927948

Economic analysis, sustainability and environmental commons

Musu, Ignazio - 2013

When confronted with market weaknesses and failures determining sustainability problems for environmental common … factors at work in determining the role of institutions to deal with sustainability issues and explores the implications of …

Persistent link: https://www.econbiz.de/10010223360

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