Why finance professionals hold green and brown assets? A lab-in-the-field experiment

Pourquoi investir dans le vert et le brun ? Une expérience sur des professionnels de la finance

Sébastien Duchêne (), Adrien Nguyen-Huu, Dimitri Dubois () and Marc Willinger
Additional contact information
Sébastien Duchêne: CEE-M - Centre d'Economie de l'Environnement - Montpellier - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro - Montpellier SupAgro - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement
Dimitri Dubois: CEE-M - Centre d'Economie de l'Environnement - Montpellier - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro - Montpellier SupAgro - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement

Working Papers from HAL

Abstract: We assess the impact of environmental externalities on portfolio decisions in a lab-inthe-field experiment on finance professionals and students. Subjects show pro-environmental preferences, with a strong asymmetry because of the sign of the externality. They are prone to accept lower return for positive environmental impact, but not to bear increased risk. Finance professionals are more pro-environmental than students, particularly regarding negative externalities, and less influenced by a ranking signal about environmental performance. Additional control tasks show that pro-social and pro-environmental preferences have much less influence on portfolio composition than market practices for finance professionals, but they are significant predictors for students.

Date: 2021-07-13
New Economics Papers: this item is included in nep-env, nep-exp and nep-isf
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
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:hal:wpaper:hal-03285376

Access Statistics for this paper

More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().