Nudge in investor decision: a reflection on investment choices and ESG

This study aims to identify how Nudge influences investor decision-making in ESG (Environmental, Social, and Governance) companies. To achieve this, it is understood that both financial and nonfinancial aspects should be considered in investment decisions when evaluating a company. Nevertheless, it is believed that Nudges can influence decision-makers in the pursuit of investments that are sustainable and adhere to ESG practices. The quasi-experimental methodology proposed in this research involves the application of a questionnaire, comprising two market environments, to a population of 158 investors. The research was approved by the Research Ethics Committee (no. 5,246,628). Based on these scenarios, analyses of the investment choices of the research participants were conducted. The results demonstrate that when the Nudge was applied, the majority of respondents tended to opt for investments in companies with ESG practices. Furthermore, the regression model indicates a significant influence of certain variables, suggesting a higher likelihood of choosing more sustainable investments with ESG practices in Nudge environments. It was possible to observe that the presence of Nudges in investment decisions can increase the likelihood of choosing more sustainable investments.