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Conform to the norm. Peer information and sustainable investments

SSRN Electronic Journal
2023
  • 0
    Citations
  • 211
    Usage
  • 0
    Captures
  • 0
    Mentions
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Metric Options:   Counts1 Year3 Year

Metrics Details

  • Usage
    211
    • Abstract Views
      177
    • Downloads
      34

Article Description

We conduct a field experiment with clients of a German universal bank to explore the impact of peer information on sustainable retail investments. Our results show that information about peers’ inclination towards sustainable investing raises the amount allocated to stock funds labeled sustainable, when communicated during a buying decision. This effect is primarily driven by participants initially underestimating peers’ propensity to invest sustainably. Further, treated individuals indicate an increased interest in additional information on sustainable investments, primarily on risk and return expectations. However, when analyzing account-level portfolio holding data over time, we detect no spillover effects of peer information on later sustainable investment decisions.

Bibliographic Details

Max Grossmann; Andreas Hackethal; Marten Laudi; Thomas Pauls

Elsevier BV

Household Finance; Sustainable Finance; Experimental Finance; Financial Advice.

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