Do Values Predict Socially Responsible Investment Decisions? Measuring the Moderating Effects of Gender. (June 2023)

• Record Type: Journal Article
• Authors: Raut, Rajdeep Kumar; Kumar, Rohit
• Is Part Of: Journal of emerging market finance. Volume 22:Number 2(2023)
• Page Start: 189
• Page End: 214
• Publication Date: 2023-06
• Subjects: Values -- socially responsible investment -- gender -- stock market -- investment decision; Banks and banking -- Developing countries -- Periodicals; Financial institutions -- Developing countries -- Periodicals; Securities -- Developing countries -- Periodicals; 332.09172405
• DOI: 10.1177/09726527231160861
• Languages: English
• ISSNs: 0972-6527

Abstract

This study examines investors' pro-environmental investment intentions by measuring the effect of economic concern (egoistic value) and environmental concern (altruistic value) on attitudes toward socially responsible investment (SRI). A self-administered structured questionnaire was used to collect data from 469 investors using a purposive sampling technique and analyzed using two-step structural equation modeling. Results show that both altruistic and egoistic values were significant predictors of a positive attitude toward SRI, portraying the greater environmental concern of investors. Additionally, male investors motivated to invest in SRI are more concerned about environmental well-being than their counterparts, that is, female investors. By analyzing values as antecedents of attitudes toward SRI, the findings of this study add a new dimension to the belief system of young investors. JEL Codes: A13; D19; G1; G4