Environmental-social-governance preferences and the holding of crypto-assets

Arbeitspapier

Individuals invest in ESG-assets not only because of higher expected returns but also for ethical and social considerations. Controversies surrounding the ESG footprint of crypto-assets - mainly on grounds of the energy-intensive crypto mining and their use for illegal activities - offer an interesting object of inquiry. Leveraging a unique representative survey for the Austrian population, we examine whether investors' ESG preferences can explain cross-sectional differences in individual portfolio exposure to crypto-assets. While we find no statistically significant relationship between ESG concerns of investors and the probability of holding bonds or shares, in contrast, we find a strong association between investors' ESG preferences and crypto-investment exposure.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: EERI Research Paper Series ; No. 07/2022

Classification and Topics

• Classification: Wirtschaft ; Household Saving; Personal Finance ; Portfolio Choice; Investment Decisions ; Behavioral Finance: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets‡
• Subject: Crypto-assets ; financial behaviour ; environmental-social-governance preferences

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Ciaian, Pavel ; Cupak, Andrej ; Fessler, Pirmin ; Kancs, D'Artis
• Event: Veröffentlichung
• (who): Economics and Econometrics Research Institute (EERI)
• (where): Brussels
• (when): 2022

Further information

• Handle: http://hdl.handle.net/10419/273050
• Last update: 10.03.2025, 11:44 AM CET