在绿色,可持续性和蓝色债券中比较投资回报的意愿
1Graduate School of Humanities and Social Sciences, Saitama University, 255 Shimo-Okubo, Sakura-ku, Saitama, 338-8570, Japan.
Journal of environmental management
|June 14, 2024
概括
投资者更愿意投资环境和可持续性债券 (ESB),以环境为重点. 增加的知识和社会责任增强了这种意愿,强调教育对更广泛的影响.
科学领域:
- 环境金融 环境金融
- 可持续投资 可持续投资
- 行为经济学是一种行为经济学.
背景情况:
- 环保和可持续发展债券 (ESB) 是越来越多的金融工具.
- 了解投资者愿意投资回报率 (WTIR) 对ESB市场发展至关重要.
- 在ESB类型 (绿色,可持续性,蓝色) 中区分投资者偏好需要调查.
研究的目的:
- 调查ESB的范围如何影响投资者的投资意愿回报率 (WTIR).
- 在日本零售投资者中估计绿色,可持续性和蓝色债券的WTIR.
- 在ESB的背景下,确定影响WTIR的因素.
主要方法:
- 使用双边分类选择条件估值方法 (DBDC-CVM).
- 对日本零售投资者进行了调查.
- 在不同的ESB类别中分析了WTIR.
主要成果:
- 与可持续性债券相比,投资者对具有更强的环境重点的债券 (绿色,蓝色债券) 呈现较高的WTIR,收益率较低.
- 投资者对ESB的了解与WTIR的增加有积极的相关性.
- 投资者中较高的社会责任和利他主义水平与WTIR增加有关.
结论:
- 发行人应该清楚地定义ESB吸引投资的具体重点.
- 促进有关ESB的信息传播的政策至关重要.
- 环境和可持续发展教育可以促进投资者更大的兴趣和投资意愿.
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