Abstract
This study examines how providing peer information for evaluation of progressive firms changes individuals’ evaluations. From the large sample of two experimental surveys, it was found that providing peer information leads to a higher expectation of increasing stock prices and willingness to buy. The effect on willingness to buy is greater than the expected increase in stock prices. The effect on women is greater than on men. Individuals who prefer the environment (women’s empowerment) are more willing to buy pro-environment (gender-balanced) stocks when they have peer information. The effect of peer information is greater for individuals with warm-glow motivations.
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