Showing 1 - 10 of 60
This paper tests whether very diversified and patient investors, also known as universal owners, tend to vote in favor of shareholder resolutions instructing corporations to reduce or communicate on the negative externalities they produce. Our sample includes 213 US fund families that voted on...
Persistent link: https://www.econbiz.de/10012868539
Persistent link: https://www.econbiz.de/10014249549
We present an experimental study of investors’ willingness to pay for socially responsible assets. We design an initial public offering experiment in which various assets may be issued with an identical financial risk and return profile but with different intensity and timing of social...
Persistent link: https://www.econbiz.de/10014238854
Persistent link: https://www.econbiz.de/10003983814
Persistent link: https://www.econbiz.de/10012807668
In an experiment on investors' financial decisions, we find variations in information can induce distinct signals-beliefs-decisions chains within agents. Subjects observe the time series of a risky index and of an additional signal, which helps predict returnsin some randomly chosen rounds, and...
Persistent link: https://www.econbiz.de/10013311994
Persistent link: https://www.econbiz.de/10003710350
We study the introduction of robo-advising on a large representative sample of Employee Saving Plans. Differently from many services that fully automate portfolio decisions, our robo-advisor proposes investment and rebalancing strategies, leaving investors free to follow or ignore them. We focus...
Persistent link: https://www.econbiz.de/10013242297
The exceptional rise in government deficits following the subprime crisis, the recent commodity price spikes and the increase in inflation volatility have revived the debate on medium to long-term resurgence of inflation. Using a vector-autoregressive model, this paper investigates the...
Persistent link: https://www.econbiz.de/10013067267
This paper addresses management of sovereign wealth from the perspective of the theory of contingent claims. Starting with the sovereign's balance sheet, we frame sovereign fund management as an asset-liability management (ALM) problem, covering all public entities and taking explicit account of...
Persistent link: https://www.econbiz.de/10013073978