Environmental and Social Preferences and Investments in Crypto-Assets
Andrej Cupak (),
Pirmin Fessler () and
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Andrej Cupak: National Bank of Slovakia and University of Economics in Bratislava
Pirmin Fessler: Oesterreichische Nationalbank, Economic Microdata Lab
No JRC129919, JRC Research Reports from Joint Research Centre (Seville site)
Individuals invest in Environmental-Social-Governance (ESG)-assets not only because of (higher) expected returns but also driven by ethical and social considerations. Less is known about ESG-conscious investor subjective beliefs about crypto-assets and how these compare to traditional assets. Controversies surrounding the ESG footprint of certain crypto-asset classes – mainly on grounds of their energy-intensive crypto mining – offer a potentially informative object of inquiry. Leveraging a unique representative household finance survey for the Austrian population, we examine whether investors’ environmental and social preferences can explain cross- sectional differences in individual portfolio exposure to crypto-assets. We find a strong association between investors’ environmental and social preferences and the crypto-investment exposure but no significant relationship for the benchmarks of traditional asset classes such as bonds and shares.
Keywords: Crypto-assets; investment portfolio; financial behaviour; financial literacy; environmental and social preferences (search for similar items in EconPapers)
JEL-codes: D14 G11 G41 (search for similar items in EconPapers)
Pages: 41 pages
New Economics Papers: this item is included in nep-ban, nep-env, nep-fmk and nep-pay
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Working Paper: Environmental-Social-Governance Preferences and Investments in Crypto-Assets (2022)
Working Paper: Environmental-Social-Governance Preferences and the Holding of Crypto-Assets (2022)
Working Paper: Environmental-Social-Governance Preferences and Investments in Crypto-Assets (Pavel Ciaian, Andrej Cupak, Pirmin Fessler, d’Artis Kancs) (2022)
Working Paper: Environmental and Social Preferences and Investments in Crypto-Assets (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:ipt:iptwpa:jrc129919
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