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Record number 535647
Title Examining socially responsible investment preferences : A discrete choice conjoint experiment
Author(s) Apostolakis, George; Dijk, Gert van; Kraanen, Frido; Blomme, Robert J.
Source Journal of Behavioral and Experimental Finance 17 (2018). - ISSN 2214-6350 - p. 83 - 96.
Department(s) Marketing and Consumer Behaviour
Publication type Refereed Article in a scientific journal
Publication year 2018
Keyword(s) Conjoint analysis - Impact investing - Institutional investors - Pension funds - Psychological distance - SRI
Abstract Using a hierarchical Bayesian estimation of a discrete choice conjoint model, this research examines preferences for different responsible investment characteristics from the perspective of pension beneficiaries. We conducted a choice-based conjoint experiment in which participants were invited to select a preferred investment portfolio among different options by combining attributes such as socially responsible investments and impact investments. Based on a sample of 334 respondents, the results show the utility and relative importance that members of the administrative organization of a Dutch pension fund with a cooperative structure attach to the socially responsible portfolio. Latent class analysis yielded three segments of pension beneficiaries with different levels of psychological distance toward socially responsible investments.
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