Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Aslan, Aydin | - |
dc.contributor.author | Posch, Peter N. | - |
dc.date.accessioned | 2022-12-12T10:50:46Z | - |
dc.date.available | 2022-12-12T10:50:46Z | - |
dc.date.issued | 2022-11-30 | - |
dc.identifier.uri | http://hdl.handle.net/2003/41155 | - |
dc.identifier.uri | http://dx.doi.org/10.17877/DE290R-23002 | - |
dc.description.abstract | We investigate how an investor’s preference for sustainable assets in the portfolio varies for differing levels of risk aversion. Using a sample of 411 publicly listed firms in the S&P 500, we calculate financial and sustainability returns, on which the investor’s utility depends. We approximate the investor’s preference by the exponential and s-shaped utility function and optimize with regard to the sustainability preference. We find that with increasing levels of risk aversion, both minimum-variance and maximum Sharpe ratio type investors seek to incorporate sustainable assets in the portfolio. | en |
dc.language.iso | en | de |
dc.relation.ispartofseries | Sustainability;2022, 14(23), 15963 | - |
dc.rights.uri | http://creativecommons.org/licenses/by/4.0/ | - |
dc.subject | ESG | de |
dc.subject | Socially responsible investing | en |
dc.subject | Expected utility theory | en |
dc.subject | Portfolio theory | en |
dc.subject.ddc | 330 | - |
dc.title | How do investors value sustainability? | en |
dc.title.alternative | A utility-based preference optimization | en |
dc.type | Text | de |
dc.type.publicationtype | article | de |
dc.subject.rswk | Corporate Social Responsibility | de |
dc.subject.rswk | Investitionsentscheidung | de |
dc.subject.rswk | Nachhaltigkeit | de |
dc.subject.rswk | Erwarteter Nutzen | de |
dc.subject.rswk | Moderne Portfoliotheorie | de |
dc.subject.rswk | Investitionsrisiko | de |
dcterms.accessRights | open access | - |
eldorado.secondarypublication | true | de |
eldorado.secondarypublication.primaryidentifier | https://doi.org/10.3390/su142315963] | de |
eldorado.secondarypublication.primarycitation | Sustainability. Vol. 14. 2022, Issue 23, Art.No 15963 | de |
Appears in Collections: | Professur Finance |
Files in This Item:
File | Description | Size | Format | |
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sustainability-14-15963.pdf | 337.18 kB | Adobe PDF | View/Open |
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