Environmental-Social-Governance Preferences and the Holding of Crypto-Assets

Pavel Ciaian, Andrej Cupak, Pirmin Fessler and d'Artis Kancs

EERI Research Paper Series from Economics and Econometrics Research Institute (EERI), Brussels

Abstract: Individuals invest in ESG-assets not only because of higher expected returns but also for ethical and social considerations. Controversies surrounding the ESG footprint of crypto-assets – mainly on grounds of the energy-intensive crypto mining and their use for illegal activities – offer an interesting object of inquiry. Leveraging a unique representative survey for the Austrian population, we examine whether investors’ ESG preferences can explain cross-sectional differences in individual portfolio exposure to crypto-assets. While we find no statistically significant relationship between ESG concerns of investors and the probability of holding bonds or shares, in contrast, we find a strong association between investors’ ESG preferences and crypto-investment exposure.

Keywords: Crypto-assets; financial behaviour; environmental-social-governance preferences. (search for similar items in EconPapers)
JEL-codes: D14 G11 G41 (search for similar items in EconPapers)
Date: 2022-03-07
New Economics Papers: this item is included in nep-ene, nep-env and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.eeri.eu/documents/wp/EERI_RP_2022_07.pdf (application/pdf)

Related works:
Working Paper: Environmental-Social-Governance Preferences and Investments in Crypto-Assets (2022)
Working Paper: Environmental and Social Preferences and Investments in Crypto-Assets (2022)
Working Paper: Environmental-Social-Governance Preferences and Investments in Crypto-Assets (Pavel Ciaian, Andrej Cupak, Pirmin Fessler, d’Artis Kancs) (2022)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eei:rpaper:eeri_rp_2022_07

Access Statistics for this paper

More papers in EERI Research Paper Series from Economics and Econometrics Research Institute (EERI), Brussels Contact information at EDIRC.
Bibliographic data for series maintained by Julia van Hove ().