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Like daughter, like father: Female socialization and green equity investment

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  • Hervé, Fabrice
  • Marsat, Sylvain

Abstract

Are parents' decisions to invest in green equity funds influenced by their daughters? According to the recent literature on female socialization, parenting a daughter is expected to have a positive impact on parents' investment in green equity funds. Based on an original survey among 2288 French investors, we validate the female socialization in a retail investment context. Raising a daughter increases the likelihood of investing in green equity funds by about 3.87 % on average. Consistent with the female socialization hypothesis, this effect only stands for male parent investors, when daughters are still in the household and is not significant for separated fathers. Moreover, the amount invested is also significantly influenced by being a parent of a daughter. Our results support the need to better consider the influence of family members in investment in household finance decision-making and the side effects of education on environmental issues.

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  • Hervé, Fabrice & Marsat, Sylvain, 2024. "Like daughter, like father: Female socialization and green equity investment," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    • Handle: RePEc:eee:finana:v:96:y:2024:i:pa:s1057521924005593
    DOI: 10.1016/j.irfa.2024.103627
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    More about this item

    Keywords

    Green investment; Green equity funds; Daughters; Female socialization hypothesis; Intergenerational learning; Household finance; Individual investors; Sustainable finance;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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