Sustainable Investment Attitudes Based on Sustainable Finance Literacy and Perceived Environmental Impact

Oyku Yucel (), Gizem Celik and Zafer Yilmaz
Additional contact information
Oyku Yucel: Faculty of Economics and Administrative Sciences, Department of Business Administration, TED University, Ziya Gokalp Caddesi No:48 Kolej-Cankaya, Ankara 06420, Türkiye
Gizem Celik: Faculty of Economics and Administrative Sciences, Department of Business Administration, TED University, Ziya Gokalp Caddesi No:48 Kolej-Cankaya, Ankara 06420, Türkiye
Zafer Yilmaz: Faculty of Economics and Administrative Sciences, Department of Business Administration, TED University, Ziya Gokalp Caddesi No:48 Kolej-Cankaya, Ankara 06420, Türkiye

Sustainability, 2023, vol. 15, issue 22, 1-20

Abstract: The aim of this study is to examine whether sustainable finance literacy and the perceived environmental impact of sustainable finance instruments exert substantial influence over the sustainable investment attitudes of investors within the developing country setting of Ankara, Türkiye. Following a systematic literature review, an online survey was designed and conducted. Multivariate regression models were used for the analysis. The findings illustrate that individuals with a greater level of sustainable finance literacy and a positive perception of the favorable environmental effects of sustainable finance instruments tend to exhibit a positive investment stance and are more likely to invest in sustainable finance instruments. Among the questions related to sustainable finance literacy, the most significant factor in explaining sustainable investment attitude is the knowledge of how sustainable finance instruments can be utilized for risk diversification. In addition, it is depicted that individuals with higher income levels exhibit a favorable disposition toward sustainable finance instruments. The results of our study imply that, to stimulate sustainable investments in developing countries, regulatory authorities and sustainable fund issuers such as financial corporations can enhance promotional campaigns and workshops aimed at increasing awareness and understanding of sustainable finance literacy, sustainable financial instruments, and their positive impact on the environment.

Keywords: sustainability; financial literacy; sustainable finance literacy; environmental literacy; sustainable finance instruments (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/15/22/16026/pdf (application/pdf)
https://www.mdpi.com/2071-1050/15/22/16026/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:15:y:2023:i:22:p:16026-:d:1281798

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().