{"title":"气候恐惧与绿色投资需求","authors":"A. Anderson, D. Robinson","doi":"10.2139/ssrn.3490730","DOIUrl":null,"url":null,"abstract":"Linking a nationally representative survey to individual pension data, we show how environmental fears, manifesting in extreme beliefs about future climate calamities, are associated with individual portfolio rebalancing decisions. Extreme weather conditions in Sweden in 2014 stoked fears of future environmental calamities, especially in those living closer to the catastrophes. After this heat wave, but not before, investors who fear climate-related catastrophes rebalanced their retirement portfolios towards green investments. This aligns with other behaviors: they also report that they recycle more than their neighbors, think green investments outperform, and are willing to pay higher fees for green mutual funds.","PeriodicalId":187122,"journal":{"name":"Swedish House of Finance Research Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"6","resultStr":"{\"title\":\"Climate Fears and the Demand for Green Investment\",\"authors\":\"A. Anderson, D. Robinson\",\"doi\":\"10.2139/ssrn.3490730\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Linking a nationally representative survey to individual pension data, we show how environmental fears, manifesting in extreme beliefs about future climate calamities, are associated with individual portfolio rebalancing decisions. Extreme weather conditions in Sweden in 2014 stoked fears of future environmental calamities, especially in those living closer to the catastrophes. After this heat wave, but not before, investors who fear climate-related catastrophes rebalanced their retirement portfolios towards green investments. This aligns with other behaviors: they also report that they recycle more than their neighbors, think green investments outperform, and are willing to pay higher fees for green mutual funds.\",\"PeriodicalId\":187122,\"journal\":{\"name\":\"Swedish House of Finance Research Paper Series\",\"volume\":\"14 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2019-11-20\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"6\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Swedish House of Finance Research Paper Series\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.3490730\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Swedish House of Finance Research Paper Series","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3490730","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Linking a nationally representative survey to individual pension data, we show how environmental fears, manifesting in extreme beliefs about future climate calamities, are associated with individual portfolio rebalancing decisions. Extreme weather conditions in Sweden in 2014 stoked fears of future environmental calamities, especially in those living closer to the catastrophes. After this heat wave, but not before, investors who fear climate-related catastrophes rebalanced their retirement portfolios towards green investments. This aligns with other behaviors: they also report that they recycle more than their neighbors, think green investments outperform, and are willing to pay higher fees for green mutual funds.
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