Abstract We perform a choice experiment modeled on equity fund savings, to estimate preferences for sustainable and responsible investments and conventional fund attributes among private investors in Sweden (n = 559). We find that sustainability strategies, as well as an environmental focus, were more important than other fund characteristics. Moreover, negative affect in relation to SRI contributed as an observable factor to explain variance heterogeneity while experience in fund savings, positive product involvement as well as positive affect were not significant. Our main finding is, however, that latent behavioral characteristics of the investors are strong predictors of latent class membership thereby contributing to distinguish nontrivial investor sub-groups. We find no support for the contribution of sociodemographic characteristics. These results can serve to identify market segments so that equity fund offerings, including those related to SRI, can be mobilized, optimized and tailored to meet the demand for SRI among private investors.

中文翻译：

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可持续发展和负责任的股票基金的偏好-与瑞典私人投资者进行的选择实验

摘要我们进行了一个以股票基金储蓄为模型的选择实验，以评估瑞典（n = 559）私人投资者对可持续和负责任投资的偏好以及常规基金的属性。我们发现，可持续发展战略以及对环境的关注比其他基金特征更为重要。此外，与SRI相关的负面影响可作为解释方差异质性的一个可观察因素，而在资金节省，积极的产品参与以及正面影响方面的经验并不显着。然而，我们的主要发现是，投资者的潜在行为特征是潜在类别成员资格的有力预测指标，从而有助于区分非平凡的投资者子群体。我们不支持社会人口统计学特征的贡献。