Risk-return trade-offs in the context of environmental impact: a lab-in-the-field experiment with finance professionals

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

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Abstract: We assess the impact of environmental externalities on port folio decisions in a lab-in-the-field experiment on finance professionals and students. Participants are prone to accept lower returns for positive environmental impact but will not bear increased risk. They show a symmetric pro-environmental preferences depending on the sign of the externality. Finance professionals are more pro-environment than students, particularly regarding positive externalities, and less influenced by a ranking signal about environmental performance. Control tasks show that experimental measures of pro-social and environmental preferences have less influence on port folios than market practices for professionals but are significant predictors for students.

Date: 2022-12-02
New Economics Papers: this item is included in nep-agr, nep-env and nep-exp
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Working Paper: Risk-return trade-offs in the context of environmental impact: a lab-in-the-field experiment with finance professionals (2022)
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