Crowdfunded Microfinance
Crowdfunded Microfinance
Using a novel dataset from Ant Forest, a mini-app within AlibabaÃÂs flagship fintech platform Alipay, we examine how gamified social interactions influence usersÃÂ green investment decisions. We find that the usersÃÂ green preference, measured by daily low-carbon activities, is enhanced when they engage more in gamified social interactions designed for environmental education, thereby increasing their investment proportion in green mutual funds. We also provide suggestive, but only suggestive, evidence that green education may play a role in shaping usersÃÂ green preferences through gamification. Our findings are stronger among male and younger users and those less involved in environmental conservation actions. Our study provides the first mechanism in which gamified social interactions facilitate green investments by enhancing individualsÃÂ green preferences.
Using a novel dataset from Ant Forest, a mini-app within AlibabaÃÂs flagship fintech platform Alipay, we examine how gamified social interactions influence usersÃÂ green investment decisions. We find that the usersÃÂ green preference, measured by daily low-carbon activities, is enhanced when they engage more in gamified social interactions designed for environmental education, thereby increasing their investment proportion in green mutual funds. We also provide suggestive, but only suggestive, evidence that green education may play a role in shaping usersÃÂ green preferences through gamification. Our findings are stronger among male and younger users and those less involved in environmental conservation actions. Our study provides the first mechanism in which gamified social interactions facilitate green investments by enhancing individualsÃÂ green preferences.

Keynote: "Lessons from fintech-academic collaborations"
25-27 August 2025
25/08/2025
Antonio Gargano
Keynote

Keynote: "Lessons from fintech-academic collaborations"
25-27 August 2025
25/08/2025
Antonio Gargano
Keynote

Keynote: "Leadership for finance professionals: A CEO-turned-leadership-scholar perspective"
25-27 August 2025
25/08/2025
Emilia Bunea
Keynote

Keynote: "Leadership for finance professionals: A CEO-turned-leadership-scholar perspective"
25-27 August 2025
25/08/2025
Emilia Bunea
Keynote

Keynote: "The promise of digital finance: Greater transparency, enhanced efficiency, and more effective and less burdensome regulation"
25-27 August 2025
26/08/2025
Allan Mendelowitz
Keynote

Keynote: "The promise of digital finance: Greater transparency, enhanced efficiency, and more effective and less burdensome regulation"
25-27 August 2025
26/08/2025
Allan Mendelowitz
Keynote

Keynote: "What we can learn today about the markets of tomorrow: Crypto, crashes and credible research"
25-27 August 2025
27/08/2025
Albert Menkveld
Keynote

Keynote: "What we can learn today about the markets of tomorrow: Crypto, crashes and credible research"
25-27 August 2025
27/08/2025