Stefano Ramelli
Title
Prof. Dr.
Last Name
Ramelli
First name
Stefano
Email
stefano.ramelli@unisg.ch
Phone
071 224 7029
3 results
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Item type:Publication, Responsible Investing and Stock Allocation(2021-01-01); Marie BrièreWe analyze the portfolio choices of approximately 913,000 active participants in employee saving plans in France. Looking at the cross-section of equity exposure, we find that the inclusion of responsible equity options in the menu of available funds is associated with a 2.1% higher equity allocation by plan participants. Compared to an average equity asset allocation of 12.1%, it represents a material increase (17% in relative terms). Difference-in-differences analyses confirm that the introduction of a responsible equity option to a saving plan is followed by an increase of 7.2% in participants' appetite for stocks, contrary to what happens with conventional equity funds.Type:conference paper - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Climate Transition Beliefs(2024); Marco CeccarelliWe study expectations about the trajectory of the energy transition (climate transition beliefs) as drivers of "green'' investment decisions and return expectations. In a survey of U.S. retail investors (N=1,007), we document considerable heterogeneity in climate transition beliefs at different horizons. Climate transition optimism positively correlates with expected green financial performance and preferences for green investments, especially for investors without strong pro-environmental preferences. A pre-registered information provision experiment (N=3,003) provides causal evidence on the link between climate transition beliefs and investment behavior. By influencing investments in green projects, the prevailing beliefs around the energy transition can have important self-fulfilling tendencies.Type:working paper - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Sustainable Investing and Political Behavior(2023-06-15); ; Vasileva AnnaA first-order concern regarding sustainable finance is that it may crowd out individual support for more effective, policy-driven approaches to address societal challenges. We test the validity of this concern in a pre-registered experiment in the context of a real referendum on a climate law with a representative sample of the Swiss population (N=2,051). We find that the opportunity to invest in a climate-conscious fund does not erode individuals’ support for climate regulation. While sustainable finance resembles a placebo in the sense that participants seem to overestimate its impact, it is not a dangerous placebo that crowds out political engagement.Type:working paper