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In recent decades, academia has addressed a wide range of research topics in the field of ethical decision-making. Besides a great amount of research on ethical consumption, also the domain of ethical investments increasingly moves in the focus of scholars. While in this area most research focuses on whether socially or environmentally sustainable businesses outperform traditional investments financially or investigates the character traits as well as other socio-demographic factors of ethical investors, the impact of sustainable corporate conduct on the investment intentions of private investors still requires further research. Hence, we conducted two studies to shed more light on this highly relevant topic. After discussing the current state of research, in our first empirical study, we explore whether besides the traditional triad of risk, return, and liquidity, also sustainability exerts a significant impact on the willingness to invest. As hypothesized, we find that sustainability shows a clear and decisive impact in addition to the traditional factors. In a consecutive study, we investigate deeper into the sustainability-willingness to invest link. Here, our results show that improved sustainability might not pay off in terms of investment attractiveness, however and conversely, it certainly harms to conduct business in a non-sustainable manner, which cannot even be compensated by an increased return.

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Im Rahmen des Forschungsprojektes P881 “Nachhaltige Büro‐ und Verwaltungsgebäude in Stahl und Stahlverbundbauweise“ werden von einem interdisziplinären Forschungsteam Planungshilfsmittel und Methoden für den Entwurf und die Bewertung dieser Gebäude entwickelt. Neben ökologischen und ökonomischen werden auch architektonische, soziokulturelle und soziotechnologische Kriterien berücksichtigt. Der Nutzen der Flexibilität und deren Bewertung bilden einen besonderen Schwerpunkt, da sich hieraus wesentliche Konsequenzen für die Baukonstruktionen und die spätere Vermarktungsfähigkeit der Gebäude ergeben. Im folgenden Beitrag werden relevante Themen und Fragestellungen für den nachhaltigen Entwurf von Büro‐ und Verwaltungsgebäuden erörtert. Ausgehend von den verschiedenen Nutzungsformen, Entwicklungen und Trends der strukturellen Organisation von Bürogebäuden werden soziotechnologische und soziokulturelle Anforderungen formuliert. Es werden Strategien zur lebenszyklusorientierten ökonomischen Bewertung unter Einbeziehung der Wertschöpfungsrechnung beschrieben. Zu den baukonstruktiven Themenfeldern gehören die Einflüsse aus Fassade, Bauphysik, technischer Gebäudeausstattung und die Entwicklung nachhaltiger Tragstrukturen in Stahl‐ und Stahlverbundbauweise. Es werden die vorgesehenen Instrumente für die Planung von Tragwerksentwürfen und deren ökologische und ökonomische Bewertung vorgestellt. Sustainable office buildings in steel construction. Within the research project P881 “Sustainable office and administration buildings in steel and steel‐composite construction” planning tools and methods for the design and evaluation of such buildings are being developed by an interdisciplinary research team. In addition to ecological and economic issues, also architectural, socio‐cultural and socio‐technological criteria are being considered. The benefit from flexibility and its evaluation constitute main aspects influencing the structure and the future marketability of the buildings. Relevant topics and issues for sustainable design of office buildings are being discussed in this paper. Based on diverse ways of usage, development and trends in the structural organization of office buildings, socio‐technological and socio‐cultural requirements are formulated. Strategies for the life cycle‐oriented economic evaluation are being described including an added value assessment. Related research fields in building construction such as façade, building physics, technical building equipment as well as the development of sustainable structures in steel construction are being discussed. The intended instruments for the planning phase of design concepts and their ecological and economic evaluation are being introduced.