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Risk-return trade-offs in the context of environmental impact: a lab-in-the-field experiment with finance professionals

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Abstract

We assess the impact of environmental externalities on port folio decisions in a lab-in-the-field experiment on finance professionals and students. Participants are prone to accept lower returns for positive environmental impact but will not bear increased risk. They show a symmetric pro-environmental preferences depending on the sign of the externality. Finance professionals are more pro-environment than students, particularly regarding positive externalities, and less influenced by a ranking signal about environmental performance. Control tasks show that experimental measures of pro-social and environmental preferences have less influence on port folios than market practices for professionals but are significant predictors for students.
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Dates and versions

hal-03883121 , version 1 (02-12-2022)

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  • HAL Id : hal-03883121 , version 1

Cite

Sébastien Duchêne, Adrien Nguyen-Huu, Dimitri Dubois, Marc Willinger. Risk-return trade-offs in the context of environmental impact: a lab-in-the-field experiment with finance professionals. 2022. ⟨hal-03883121⟩
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