Haigh, Matthew and Shapiro, Matthew (2013) 'Do Environmental Policy Instruments Influence Fiduciaries’ Decisions?' Environmental and Planning A, 45 (4). pp. 853-871.
This article examines the import for fiduciary investors (pension funds, insurance companies and mutual funds in O.E.C.D. countries) of companies’ environmental performance levels in light of existing and nascent energy-usage and environmental management policies. The study is based on an experiment using a sample of fiduciaries located mainly in Europe, North America and Australia. Subjects are allocated to one of two groups; one group invests with reference to environmental considerations, while the other tracks a conventional equities index. Responding participants indicate the frequency with which they use nominated sources of information and rate the importance of nominated types of information in their decisions concerning the portfolio. The results suggest that the wider population of fiduciaries considers existing policy measures to be of limited value, yet, on liquidity grounds, might be prepared to take environmental considerations into account in the portfolio construction process. Another contribution of this article is its framing and consolidating of literature on energy and environmental management policy, environmental investing, and decision psychology.
|Keywords:||environmental regulation, finance|
|SOAS Departments & Centres:||Faculty of Law and Social Sciences > Department of Financial and Management Studies
Faculty of Law and Social Sciences > Department of Financial and Management Studies > Centre for Development, Environment and Policy (CeDEP)
Faculty of Law and Social Sciences > School of Law > Centre of Law, Environment and Development
|Copyright Statement:||Moral rights are asserted by the authors.|
|Depositing User:||Matthew Haigh|
|Date Deposited:||10 Jul 2012 13:46|
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