Investor Valuation for Socially Responsible Assets: A Willingness to Pay Experiment

Sébastien Pouget, Daniel Brodback, Nadja Guenster and Ruichen Wang

No 2025-1683, TSE Working Papers from Toulouse School of Economics (TSE)

Abstract: We present an experimental study of investors’ willingness to pay for socially responsible assets. In our initial public offering experiment, various assets share identical financial risk-return profiles but differ in the intensity and timing of societal benefits, represented by charitable donations. We find that subjects value societal benefits positively and prefer a positive correlation between financial returns and these societal benefits. We offer implications for the design of corporate social responsibility policies and for the pricing of responsible assets.

Keywords: Socially Responsible Investing; Investment Decisions; ESG Preferences; Experimental Finance (search for similar items in EconPapers)
JEL-codes: A13 C91 G41 (search for similar items in EconPapers)
Date: 2025-10-23
New Economics Papers: this item is included in nep-dcm, nep-env and nep-exp
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.tse-fr.eu/sites/default/files/TSE/docu ... 2025/wp_tse_1683.pdf Full Text (application/pdf)

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:tse:wpaper:131057

Access Statistics for this paper

More papers in TSE Working Papers from Toulouse School of Economics (TSE) Contact information at EDIRC.
Bibliographic data for series maintained by ().