| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29288 |
| 来源ID | Working Paper 29288 |
| The Asymmetry in Responsible Investing Preferences | |
| Jacquelyn Humphrey; Shimon Kogan; Jacob Sagi; Laura Starks | |
| 发表日期 | 2021-09-27 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We design an experiment to understand how social preferences affect investment decisions through stock allocations and probability assessments. The major preference channel is asymmetric in social outcomes – although negative and positive responsible investment (RI) externalities have the same magnitudes, negative externalities have greater impact on investment choices. The effect is persistent, but heterogenous. We also find asymmetries in belief formation and learning constitute a secondary channel. Overall, our results are consistent with important stylized empirical facts and the predictions of recent RI theories that social preferences lead to different investment choices, but our analyses also suggest important future modeling directions. |
| 主题 | Econometrics ; Experimental Design ; Financial Economics ; Portfolio Selection and Asset Pricing ; Behavioral Finance |
| URL | https://www.nber.org/papers/w29288 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586962 |
| 推荐引用方式 GB/T 7714 | Jacquelyn Humphrey,Shimon Kogan,Jacob Sagi,et al. The Asymmetry in Responsible Investing Preferences. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29288.pdf（658KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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