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Brodback, Daniel, Guenster, Nadja, Pouget, Sébastien
ORCID: https://orcid.org/0000-0002-8764-2043 and Wang, Ruichen
(2025)
Investor Valuation for Socially Responsible Assets: A Willingness to Pay Experiment.
Management Science.
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Abstract
We present an experimental study of investors’ willingness to pay for socially
responsible assets. In our initial public offering experiment, various assets share identical financial risk-return profiles but differ in the intensity and timing of societal benefits, represented by charitable donations. We find that subjects value societal benefits positively and prefer a positive correlation between financial returns and these societal benefits. We offer implications for the design of corporate social responsibility policies and for the pricing of responsible assets.
| Item Type: | Article |
|---|---|
| Language: | English |
| Date: | 13 October 2025 |
| Refereed: | Yes |
| Place of Publication: | Hanover |
| Uncontrolled Keywords: | Socially Responsible Investing, Investment Decisions, ESG Preferences, Experimental Finance |
| JEL Classification: | A13 - Relation of Economics to Social Values C91 - Laboratory, Individual Behavior |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse), TSM Research (Toulouse) |
| Site: | UT1 |
| Date Deposited: | 23 Oct 2025 07:37 |
| Last Modified: | 28 Oct 2025 08:18 |
| OAI Identifier: | oai:tse-fr.eu:131053 |
| URI: | https://publications.ut-capitole.fr/id/eprint/51574 |
Available Versions of this Item
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Investor Valuation for Socially Responsible Assets: A Willingness to Pay Experiment. (deposited 24 Oct 2025 07:16)
- Investor Valuation for Socially Responsible Assets: A Willingness to Pay Experiment. (deposited 23 Oct 2025 07:37) [Currently Displayed]
