Wealth transfer intentions, family decision-making style and sustainable investing: The case of millionaires
Year: 2024
Type: article
Study design: Observational Study
Abstract: With an abundance of wealth and a long-standing tradition of philanthropic giving, millionaires are well-positioned to aid the transition towards sustainable finance. Yet, little is known about how the wealthy make sustainable investment decisions. Using unique survey data from 402 millionaires, we document the importance of future wealth transfer intentions and family decision-making style. Our results show that funds are more likely to be channeled towards sustainable causes in families that are society-oriented and adopt democratic decision-making styles compared to families whose decision-making style is autocratic and intend for future generations to inherit their wealth.
Source: Finance research letters
Authors: Ylva Baeckström, Jeanette Carlsson Hauff
Institutions: King's College London, University of Gothenburg
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $3,350
OpenAlex ID: W4403001185