期刊
ORGANIZATION & ENVIRONMENT
卷 32, 期 1, 页码 62-82出版社
SAGE PUBLICATIONS INC
DOI: 10.1177/1086026618771669
关键词
low-carbon economy; sustainable investing; retail investors; nudge; cognitive reflection; climate information; choice experiment; conjoint analysis
资金
- Climate-KIC - EIT, European Union
Financial markets play a decisive role in the transition to a low-carbon economy. This study investigates the role of climate information presentation for climate-friendly investing among retail investors. We conduct a choice experiment in which we vary the presentation format of climate information by means of three label designs to test their influence on investment practices. We provide empirical evidence for the effectiveness of climate labeling as a potential nudge for climate-friendly investing. Furthermore, we find heterogeneity in the influence of climate information across different label designs and cognitive characteristics of investors. Intuitive (reflective) decision makers tend to place significantly more (less) weight on funds' climate performance compared with financial performance-irrespective of a participant's environmental preference.
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