Do as you say - Say as you do: Measuring the actual use of environmental information in investment decisions

Pall Rikhardsson () and Claus Holm ()
Additional contact information
Pall Rikhardsson: Department of Business Studies, Postal: The Aarhus School of Business, Fuglesangs Allé 4, 8210 Aarhus V, Denmark, http://www.asb.dk/staff/bs/par.aspx?page=%7B803EFF10-69F7-4C0F-AEE3-F7F410E4B6F2%7D
Claus Holm: Department of Business Studies, Postal: The Aarhus School of Business, Fuglesangs Allé 4, 8210 Aarhus V, Denmark, http://www.asb.dk/staff/bs/hoc.aspx?page=%7B803EFF10-69F7-4C0F-AEE3-F7F410E4B6F2%7D

No M-2005-02, Management Accounting Research Group Working Papers from University of Aarhus, Aarhus School of Business, Department of Business Studies

Abstract: This paper focuses on the use of environmental information in investment decision making. The research approach employed was based on an experiment where three groups were asked to allocate investment funds between two companies based on financial accounts and information material from these companies. The overall con-clusion of the paper is that even though environmental information is not enough in itself to shift decision preferences, it seems to have some impact on decision mak-ing. However, there seems to be a discrepancy between what decision makers say they do and what they actually do. First, environmental information apparently has greater impact on decision making in the short run than the long run despite deci-sion makers saying that they value environmental information more regarding long-run investments. Second, decision makers downplay the value of environmental information in corporate information material but this information seems to affect their decision making just the same. Third, qualitative information seems to affect decision making regarding short-run investments more than the combination of qualitative and quantitative information

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Pages: 28 pages
Date: 2005-04-26
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Citations: View citations in EconPapers (1)

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