00000nam a22000004a 4500 UP-8027258850631495449 Buklod 20240715113633.0 m |o d | cr ||||||||||| 240715s2024 xxu u eng d 23136545 (electronic) DECON rda eng Gao, Zhenyu author. Green preference, green investment Zhenyu Gao, Yan Luo, Shu Tian, and Hao Yang. Mandaluyong City, Metro Manila Asian Development Bank 2024. 1 online resource; 42 pages text rdacontent txt other (Electronic resource) rdacarrier cz ADB Economics Working Paper Series No. 722 Based on Alibaba’s renowned “green” initiative, the Ant Forest program, we develop a novel measure to reveal an individual investor’s nonpecuniary green preference and link it to an individual’s investment actions. We present compelling evidence that supports nonfinancial incentives for investing in green mutual funds while divesting from “brown” funds. Concerns over climate physical and regulatory risks further reinforce this influence. Individuals’ green preferences do not lead to financial gains from trading. Moreover, we mitigate the endogeneity issue by employing the development of a local subway network as a source of variations in green preferences. Economics. Finance sector development. Financial markets and institutions. Luo, Yan author. Tian, Shu author. Yang, Hao author. Electronic Resource Click here to access https://www.adb.org/publications/green-preference-green-investment ADB FO UPD DECON Electronic Resource