| 41. |
- Hedesström, Martin, 1969, et al.
(författare)
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Stock investors' preference for short-term vs. long-term bonuses
- 2012
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Ingår i: Journal of Socio-Economics. - : Elsevier BV. - 1053-5357. ; 41:2, s. 137-142
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Tidskriftsartikel (refereegranskat)abstract
- Bonuses in the finance sector may be based on too short time intervals for environmental and social factors to be taken into account in investment decisions. We report two experiments to investigate whether investors prefer short-term to long-term bonuses. In Experiment 1 employing 27 undergraduates, preferences were measured for four short-term certain bonuses, evenly distributed across a time interval, and one certain long-term bonus at the end of the time interval. A majority chose the short-term bonuses, and in order for the long-term bonus to be equally preferred it had to be about 40% higher than the four added short-term bonuses. Experiment 2 employing another 36 undergraduates introduced outcome uncertainty that more accurately reflects the choices stock investors face. The participants again choose between a long-term bonus and four distributed short-term bonuses. It was shown that uncertainty made more participants prefer the long-term bonus to the added short-term bonuses than when the outcome was certain. A smaller increase of the long-term bonus of about 20% was now required to make it equally attractive as the four added short-term bonuses. © 2011 Elsevier Inc.
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| 42. |
- Hedesström, Martin, 1969, et al.
(författare)
-
Stock investors' preferences for short-term versus long-term bonuses
- 2011
-
Ingår i: Journal of Socio-Economics. ; 41, s. 137-142
-
Tidskriftsartikel (refereegranskat)abstract
- Bonuses in the finance sector may be based on too short time intervals for environmental and social factors to be taken into account in investment decisions. We report two experiments to investigate whether investors prefer short-term to long-term bonuses. In Experiment 1 employing 27 undergraduates, preferences were measured for four short-term certain bonuses, evenly distributed across a time interval, and one certain long-term bonus at the end of the time interval. A majority chose the short-term bonuses, and in order for the long-term bonus to be equally preferred it had to be about 40% higher than the four added short-term bonuses. Experiment 2 employing another 36 undergraduates introduced outcome uncertainty that more accurately reflects the choices stock investors face. The participants again choose between a long-term bonus and four distributed short-term bonuses. It was shown that uncertainty made more participants prefer the long-term bonus to the added short-term bonuses than when the outcome was certain. A smaller increase of the long-term bonus of about 20% was now required to make it equally attractive as the four added short-term bonuses.
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| 43. |
- Hedesström, Ted Martin, 1969, et al.
(författare)
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Framtidsanalyser av miljöprestanda
- 2011
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Ingår i: Hållbar utveckling - från risk till värde / L. G. Hassel, L.-O. Larsson & E. Nore (red.). - 9789144075327 ; , s. 65-72
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Bokkapitel (övrigt vetenskapligt/konstnärligt)
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| 44. |
- Jansson, Magnus, 1970, et al.
(författare)
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Investment institutions' beliefs about and attitudes toward Socially Responsible Investment (SRI): A comparison between SRI and Non-SRI management
- 2014
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Ingår i: Sustainable Development. - : Wiley. - 0968-0802 .- 1099-1719. ; 22:1, s. 33-41
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Tidskriftsartikel (refereegranskat)abstract
- This paper investigates psychological drivers and financial motives that may influence major Swedish investments institutions to adopt socially responsible investment (SRI). Based on an instrument that captures concepts in the Value-Belief-Norm theory, and potential financial beliefs that may influence the SRI intentions of investors, a survey was addressed to all major Swedish investments institutions. Fifty-eight respondents from 17 different investment institutions participated in the survey of whom 31 were conventional (non-SRI) investors and 27 were socially responsible investors. Our results show that conventional and SRI investors share similar beliefs about short-term and long-term performance on SRI investments in that SRI gives less return in the short term but slightly more than conventional investments in the longer term. However, SRI investors express significantly more interest in increasing their future SRI investments than conventional investors do. We discover that future SRI is not influenced by social and environmental concerns. Rather, financial beliefs about risk and beliefs about increased market shares drive SRI forward. The business case for SRI seems therefore to be the only reason for major investment institutions to adopt SRI. © 2011 John Wiley & Sons, Ltd and ERP Environment.
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| 45. |
- Jansson, Magnus, 1970, et al.
(författare)
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Investment style and perceived drivers of adoption of socially responsible investment among Swedish institutional investors
- 2011
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Ingår i: The Journal of Investing. - : Pageant Media US. - 1068-0896 .- 2168-8613. ; 20:3, s. 118-123
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Tidskriftsartikel (refereegranskat)abstract
- A survey was conducted to investigate investment style and drivers of socially responsible investment (SRI) among institutional investors. Respondents were 60 professionals working as SRI or non-SRI investors in 19 different Swedish banks, pension funds, or mutual fund companies. The results showed that non-SRI investors perceived market regulations to be a strong driver of SRI, while SRI investors perceived others’ behavior to be a strong driver. No differences were found between SRI and non-SRI investors with respect to short-term versus long-term or active versus passive investment styles.
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| 46. |
- Jansson, Magnus, 1970, et al.
(författare)
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Motives to engage in sustainable investment: A comparison between institutional and private investors
- 2011
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Ingår i: Sustainable Development. - : Wiley. - 0968-0802. ; 19:2, s. 135-142
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Tidskriftsartikel (refereegranskat)abstract
- The current study compares motives to invest in accordance with socially responsible criteria among different groups of investors. In total, 60 employees from 19 investment institutions, 453 private investors and 71 institutional investors participated in a questionnaire study. While socially responsible investment (SRI) among private and institutional investors was guided by self-transcendent values (environmental and social values), this was not the case among fund managers working in investment institutions. Fund managers in investment institutions were affected by beliefs about long-term returns of SRI. Private investors were, in addition, influenced by beliefs about long-term returns, whereas institutional investors were motivated by an effort to reduce financial risks. Finally, investment institutions tended to overrate the importance of financial returns among their beneficiaries (private and institutional beneficiaries) and underestimate the importance of ethical, environmental and social aspects for beneficiaries. The results indicate that private and institutional investors/beneficiaries give a wider interpretation of fiduciary duty than investment institutions do.
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| 47. |
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| 48. |
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| 49. |
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| 50. |
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