Am Dienstag, den 07.05.2024, findet ein Vortrag im Rahmen des Finance and Insurance Seminars statt. Das Seminar beginnt um 16:15 h und findet im JUR 253, Universitätsstraße 14-16 statt. Im Sommersemester 24 wird das Finance and Insurance Seminar in Präsenz durchgeführt. Für Interessenten wird ein Zoom Meeting angeboten. Die Zugangsdaten werden auf Anfrage mitgeteilt. Bitte senden Sie hierfür eine Nachricht bis zum 07.05.2024, 12:00 h an alvia.runge@wiwi.uni-muenster.de.

Prof. Dr. Christoph Merkle, Associate Professor für Finanzen, Aarhus Universität, hält einen Vortrag zum Thema: Nudging Investors towards Sustainability – A Field Experiment with a Robo - Advisor.

In a field experiment with a German robo-advisor, we manipulate default investment settings including whether the investment follows sustainability principles or not. 1,629 new customers complete the manipulated onboarding and invest real money. 50% invest sustainably when sustainable investing is the default, but only 22% invest sustainably when the conventional investment is the default. In a survey with a subset of these investors (response rate 30%), we find that beliefs strongly depend on the selected investment. Almost all conventional investors expect higher returns and a better risk-return trade-off from the conventional investment in line with financial theory. However, a majority of sustainable investors believes that the sustainable investment will outperform. While sustainability preferences also predict investment behavior, the strong return focus contradicts the view that investors are willing to forgo substantial returns for a sustainable investment.