中文摘要
本文考察了全球10,000名资本所有者对绿色股东投票与撤资的偏好,其中近3,000名来自全球最大的主权财富基金。研究发现,股东参与和绿色投票获得了大量支持(53%–72%),且比撤资更受欢迎、政治分歧更小。对绿色投票的偏好随绿色结果得以实施的可能性的提高而上升,但63%的收益可归因于表达性收益。这些结果表明,股东参与和绿色投票可能在更广泛的气候战略组合中发挥核心作用。本文由 Caroline Flammer(可持续发展领域)接受。基金资助:本研究得到挪威金融市场基金(Finansmarkedsfondet)的支持。补充材料:在线附录与数据文件可在 https://doi.org/10.1287/mnsc.2024.08186 获取。
Abstract
This paper examines the preferences of 10,000 capital owners worldwide, including nearly 3,000 from the world’s largest sovereign wealth fund, regarding green shareholder voting and divestment. Findings indicate substantial support (53%–72%) for shareholder engagement and green voting, which is more popular and less politically divisive than divestment. Preferences for green voting increase with the likelihood of green outcomes being implemented though 63% of the payoff is attributed to expressive benefits. These results suggest that shareholder engagement and green voting could play a central role in a broader climate strategy portfolio. This paper was accepted by Caroline Flammer, sustainability. Funding: This work was supported by The Norwegian Finance Market Fund (Finansmarkedsfondet). Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mnsc.2024.08186 .