Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/298168 
Erscheinungsjahr: 
2024
Schriftenreihe/Nr.: 
ADB Economics Working Paper Series No. 722
Verlag: 
Asian Development Bank (ADB), Manila
Zusammenfassung: 
Based on Alibaba's renowned "green" initiative, the Ant Forest program, we develop a novel measure to reveal an individual investor's nonpecuniary green preference and link it to an individual's investment actions. We present compelling evidence that supports nonfinancial incentives for investing in green mutual funds while divesting from "brown" funds. Concerns over climate physical and regulatory risks further reinforce this influence. Individuals' green preferences do not lead to financial gains from trading. Moreover, we mitigate the endogeneity issue by employing the development of a local subway network as a source of variations in green preferences.
Schlagwörter: 
nonpecuniary preference
revealed preference
sustainable finance
FinTech
JEL: 
G11
G50
Q55
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Dokumentart: 
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