24 février 2026
🕓9h00
🚩MEGA (3e étage, plot 2).
Lucrezia Fattobene (University of Rome ‘Tor Vergata’)
"ESG Labels, Investor Attention, and Cost Sensitivity in Mutual Fund Evaluation: An Eye-Tracking Experiment"
Abstract :
We investigate how the format through which ESG information is displayed in mutual fund disclosure documents affects investors’ sensitivity to management fees and performance, and the attentional processes underlying fund evaluation. Via an eye-tracking laboratory experiment, participants evaluate mutual funds whose sustainability characteristics are disclosed either through text or through a salient ESG label. We find that higher management fees reduce perceived attractiveness for conventional funds and ESG funds under textual disclosure, whereas sensitivity to fees is significantly lower when ESG information is conveyed through a label. Eye-tracking data reveals that ESG labels increase visual attention to financially relevant information, suggesting greater cognitive effort and conflict in integrating sustainability and cost information. Additional analyses indicate that this effect does not depend on financial or sustainable financial knowledge, being significantly weaker among individuals with higher cognitive reflection. Overall, the findings suggest that ESG labels suppress cost sensitivity by affecting attentional and cognitive processes, with important implications for ESG disclosure practices and investor protection.
Elle nous présentera en outre les notions utiles en neurofinance et l'utilisation du eye-tracking à la base des méthodologies utilisées dans ses travaux.
20 janvier 2026
🕓10h30
🚩MEGA (3e étage, plot 2).
Sébastien Duchêne - Montpellier Business School -
"Beyond the Basket: Do Socially Responsible Consumers Build Sustainable Portfolios?"
Abstract: Growing evidence suggests that individuals integrate ethical considerations into their consumption and investment choices. However, the empirical link between socially responsible consumption (SRC) and socially responsible investment (SRI) at the individual level remains underexplored. We investigated the alignment between SRC and SRI using a combination of survey data and administrative records from a major French bank, including retail client portfolio holdings and card-level transaction data. We found a consistent positive relationship between sustainable consumption and sustainable investment, both in stated preferences and real extensive and intensive margin decisions. Among categories of consumption, green mobility spending and lower energy consumption shares predicted higher SRI portfolio proportions. These findings highlight the relevance of sustainability preferences in consumption for promoting retail engagement with SRI.
24 février
🕓9h00
🚩MEGA (3e étage, plot 2).