Environmental-Social-Governance Preferences and the Holding of Crypto-Assets
Pirmin Fessler () and
EERI Research Paper Series from Economics and Econometrics Research Institute (EERI), Brussels
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 â€“ mainly on grounds of the energy-intensive crypto mining and their use for illegal activities â€“ offer an interesting object of inquiry. Leveraging a unique representative survey for the Austrian population, we examine whether investorsâ€™ 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 investorsâ€™ 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)
New Economics Papers: this item is included in nep-ene, nep-env and nep-pay
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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)
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Persistent link: https://EconPapers.repec.org/RePEc:eei:rpaper:eeri_rp_2022_07
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