Examining socially responsible investment preferences: A discrete choice conjoint experiment

George Apostolakis, Gert van Dijk, Frido Kraanen and Robert J. Blomme

Journal of Behavioral and Experimental Finance, 2018, vol. 17, issue C, 83-96

Abstract: Using a hierarchical Bayesian estimation of a discrete choice conjoint model, this research examines preferences for different responsible investment characteristics from the perspective of pension beneficiaries. We conducted a choice-based conjoint experiment in which participants were invited to select a preferred investment portfolio among different options by combining attributes such as socially responsible investments and impact investments. Based on a sample of 334 respondents, the results show the utility and relative importance that members of the administrative organization of a Dutch pension fund with a cooperative structure attach to the socially responsible portfolio. Latent class analysis yielded three segments of pension beneficiaries with different levels of psychological distance toward socially responsible investments.

Keywords: Conjoint analysis; Impact investing; SRI; Institutional investors; Pension funds; Psychological distance (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:beexfi:v:17:y:2018:i:c:p:83-96

DOI: 10.1016/j.jbef.2018.01.001

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