Investor Valuation for Socially Responsible Assets: A Willingness to Pay Experiment
Zusammenfassung
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.
Schlüsselwörter
Socially Responsible Investing; Investment Decisions; ESG Preferences; Experimental Finance
Zitieren als
Guenster, N., Brodback, D., Pouget, S., & Wang, R. (2025). Investor Valuation for Socially Responsible Assets: A Willingness to Pay Experiment. Management Science, 2025, 1–17.Details
Publikationstyp
Forschungsartikel (Zeitschrift)
Begutachtet
Ja
Publikationsstatus
Veröffentlicht
Jahr
2025
Fachzeitschrift
Management Science
Band
2025
Erste Seite
1
Letzte Seite
17
Sprache
Englisch
ISSN
NNNNN-NNN
DOI
Gesamter Text