Heterogeneity in investment behavior in sustainable products: the case of thematic funds
DOI:
https://doi.org/10.17811/ebl.12.2.2023.115-120Palabras clave:
sustainable investment, SDGs, Willingness to pay, heterogeneityResumen
The market and distribution of investment products that contribute to the achievement of the Sustainable Development Goals (SDGs), as a paradigm of the 2030 Agenda, are instruments that investors should incorporate into their financial portfolios. This paper analyses investors' preferences for investment funds that contribute in their investment policy to the achievement of SDG 6. Choice experiment methodology has been applied to try to obtain a valuation by Spanish investors. A survey was carried out in which a total of 456 valid observations were obtained. The results show that there is a high valuation of funds whose portfolios include investments that contribute to SDG 6 and that there is also heterogeneity in preferences.
Citas
Apostolakis, G., van Dijk, G., Kraanen, F., & Blomme, R. J. (2018). Examining socially responsible investment preferences: A discrete choice conjoint experiment. Journal of Behavioral and Experimental Finance, 17, 83-96.
Carlsson, F., & Martinsson, P. (2003). Design techniques for stated preference methods in health economics. Health economics,12(4), 281-294.
Gutsche, G., & Ziegler, A. (2019). Which private investors are willing to pay for sustainable investments? Empirical evidence from stated choice experiments. Journal of Banking & Finance, 102, 193-214.
Jiang, Y. (2022). Financing water investment for global sustainable development: Challenges, innovation, and governance strategies. Sustainable Development.
Lancaster, K. J. (1966). A new approach to consumer theory. Journal of political economy, 74(2), 132-157.
Lagerkvist, C. J., Edenbrandt, A. K., Tibbelin, I., & Wahlstedt, Y. (2020). Preferences for sustainable and responsible equity funds-A choice experiment with Swedish private investors. Journal of Behavioral and Experimental Finance,28, 100406.
McFadden, D. (1974) Conditional logit analysis of qualitative variables in econometrics Frontiers in Econometrics, (Ed.) P. Zarembka, Academic Press, New York, pp. 105–42.
Train, K. E. (2009). Discrete choice methods with simulation. Cambridge university press.
United Nations.The SDG Investment Case. An Investor Initiative in Partnership with UNEP Finance Initiative, UN Global Compact and Price Water Hose Coopers. 12 October 2017. Available online: https://www.unpri.org/sdgs/ investors-and-the-sustainable-development-goals/304.article
Descargas
Publicado
Cómo citar
Número
Sección
Licencia
The works published in this journal are subject to the following terms:
1. Oviedo University Press (the publisher) retains the property rights (copyright) of published works, and encourages and enables the reuse of the same under the license specified in paragraph 2.
© Ediuno. Ediciones de la Universidad de Oviedo / Oviedo University Press
2. The works are published in the online edition of the journal under a Creative Commons Attribution-Non Commercial-Non Derives 3.0 Spain (legal text). You can copy, use, distribute, transmit and publicly display, provided that: i) you cite the author and the original source of publication (journal, publisher and URL of the work), ii) they are not used for commercial purposes, iii) mentions the existence and specifications of this license.
3. Conditions of self-archiving. The author can archive the post-print version of the article (publisher’s version) on the author’s personal website and/or on the web of the institution where he belong, including a link to the page of the journal and putting the way of citation of the work. Economics and Business Letters and its URL https://reunido.uniovi.es/index.php/EBL/index are the only authorized source for correctly giving the reference of the publisher’s version in every mention of the article.