Knowledge that Transforms

To make high-quality research more accessible and easier to explore.

Fields:
1768 results ✕ Clear filters

The impact of sustainable finance literacy on investment decisions

Massimo Filippini; Markus Leippold; Tobias Wekhof
Journal of Banking & Finance 2026 187, 107687 open access
This paper examines the effects of an educational program on Sustainable Finance Literacy (SFL) and its influence on sustainable investment decisions. Through a randomized controlled trial and an incentivized choice experiment, we found that our SFL program significantly improves literacy. The program also increased the probability of investing in a highly sustainable fund by 6 percentage points on the extensive margin and decreased allocations between 3.2% and 2.7% for the less sustainable funds on the intensive margin. Among participants who already held pro-sustainability attitudes, the treatment additionally led to more investments in the highly sustainable fund on the intensive margin. Higher SFL further led to more critical sustainability assessments of mid-tier funds and reduced tendencies to chase past high returns.

Crowding-Out Innovation

Julian Atanassov; Vikram Nanda
Journal of Financial and Quantitative Analysis 2026
An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content.