In response to Morningstar’s release of carbon risk (CR) scores in May 2018, (environmentally) sustainable mutual funds in the U.S. showed a greater reduction in their portfolio CR relative to conventional funds. The observed causal impact of this third-party disclosure is consistent with the funds’ primary investment objectives. Differences in fund names, potentially driven by marketing considerations, appear irrelevant to the behavior of sustainable funds. Conventional funds that are signatories to the UN’s Principles for Responsible Investment (PRI) or those with (...) secondary sustainability mandates behave more like other conventional funds rather than sustainable funds. These funds appear relatively insensitive to disclosures as their sustainability considerations are superseded by other primary investment criteria. Fiduciary and legal bonding influences fund managers’ response to sustainability disclosures. Sustainable funds lower their CR score by reducing exposure to fossil fuels, not by increasing exposure to renewables. (shrink)

Collaborative consumption activities like saving food and buying used clothes are an important and rapidly growing part of sustainable consumer behavior. Many political and commercial campaigns promote collaborative consumption practices by highlighting subsets of normative motives, such as sustainable, social, and ecological effects. Whether or not consumers can comprehend these claims and incorporate them into their decision-making process is, however, unclear. This article introduces a new experimental study design to ethical consumer research—an adapted version of the Defining Issues Test—that enables (...) to assess consumers’ ability to cognitively and intuitively understand moral arguments in collaborative consumption contexts. The experiment was conducted with N = 435 collaborative consumers from Germany. The findings indicate that in different collaborative consumption contexts, consumers consider different moral arguments as important. Furthermore, the findings also indicate that consumers can incorporate the provider’s point of view in their moral judgment. (shrink)

Fulfilling consumer expectations of corporate social responsibility can bring strategic advantage to firms. However, research on the topic is fragmented across disparate disciplines, and a comprehensive framework to connect CSR supply and demand is missing. As a result, firms often supply CSR that does not attract demand, as signified by pessimism about ethical consumerism in recent years and the inconclusive link between corporate financial and social performance. In this study, we propose a framework of strategic CSR management to define how (...) a company’s supply of CSR could meet consumer demand for ethical products by aligning managerial and consumer perspectives. We then investigate empirically whether such a strategic approach, which integrates potential demand in CSR management, would influence consumer choice of products with CSR components. Our hybrid choice modeling allows the inclusion of psychological biases caused by social desirability and cynicism to increase result validity. The findings support the explanatory power of the framework and reveal that consumers prefer some CSR elements while others adversely affect choices. This study advances the understanding of strategic CSR management and its impact on consumer choice and helps managers include the right mix of CSR characteristics in their products to satisfy ethical consumers. (shrink)

One sector that severely suffers from the outbreak of the coronavirus is carsharing. The downswing of the carsharing industry may not only experience negative economic consequences but also ecological ones. Carsharing has the potential to reduce emissions, occupied space, and congestion and hence can actively contribute to mitigating climate change. As Bill Gates strikingly states: “Covid-19 is awful. Climate change could be worse.” For this reason, it is important to understand which underlying mechanisms drive carsharing usage during the Covid-19 pandemic. (...) The current research has the overall objective to provide deeper insights into the mediating mechanisms that explain carsharing usage intention during the Covid-19 pandemic. In particular, we draw on signaling theory to explore how different claims that prompt two different opposing underlying processes influence carsharing usage intention. An online experiment employing a 3 × 2 between-subjects design with participants acquired by the online panel platform Clickworker was conducted in April 2020. Fictitious labels and fictitious advertisements served as stimulus material and constituted the five experimental conditions. The data were analyzed by a multicategorial moderated mediation analysis and a multivariate analysis of covariance. Results reveal that environmental claims can stimulate perceived ecological benefits, which, in turn, positively affect carsharing usage intention. Interestingly, our research demonstrates that safety claims cannot decrease perceived physical risk in the context of Covid-19 and carsharing. Nevertheless, perceived physical risk has a negative influence on carsharing usage intention and hence should not be discarded altogether. The findings of this article offer new insights into the mental processes that guide consumer decision-making during the coronavirus crisis and also offer important policy implications by highlighting the relevance of environmental claims during the Covid-19 pandemic. Furthermore, the negative influence of perceived physical risk on carsharing usage intention points to the need for alternative measures to reduce users' risk perceptions. (shrink)