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September 30, 2025Social Responsibility Journal

On the limits of altruistic investor preferences: implications for ESG and responsible investments

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Authors

KSKristian J. SundJDJohannes Kabderian Dreyer

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Overview

This review discusses the impact of altruistic preferences on ESG outcomes, suggesting these preferences may not guarantee the green transition.

Key Points

  • Warm-glow theory explains why investors may pay more for high ESG assets despite market risks, yet uncertainties can diminish this willingness.
  • Evidence shows that perceived greenwashing can reduce altruistic investor preferences, impacting their willingness to invest responsibly.
  • A general literature review was conducted to explore the implications of warm-glow theory on investment practices and ESG scores.
  • The findings highlight that managers must consider investor perceptions to foster responsible investments and mitigate scandals.

Cite This Study

Sund et al. (2025) studied this question.

synapsesocial.com/papers/68dc12cc8a7d58c25ebb0ce4https://doi.org/10.1108/srj-11-2024-0818
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