Environmental and Social Preferences and Investments in Crypto-Assets
Pavel Ciaian,
Andrej Cupak (),
Pirmin Fessler and
d'Artis Kancs
Additional contact information
Andrej Cupak: National Bank of Slovakia and University of Economics in Bratislava
No JRC129919, JRC Research Reports from Joint Research Centre
Abstract:
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
Date: 2022-11
New Economics Papers: this item is included in nep-ban, nep-env, nep-fmk and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
https://publications.jrc.ec.europa.eu/repository/handle/JRC129919 (application/pdf)
Related works:
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) 
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:ipt:iptwpa:jrc129919
Access Statistics for this paper
More papers in JRC Research Reports from Joint Research Centre Contact information at EDIRC.
Bibliographic data for series maintained by Publication Officer ().