The effect of ESG criteria on investment decisions

L’effet des critères ESG sur les décisions d’investissement

Ahmed Outouzzalt (), Abdelkbir Elouidani and Rania Elouidani
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Ahmed Outouzzalt: Université Ibn Zohr = Ibn Zohr University [Agadir]
Abdelkbir Elouidani: Université Ibn Zohr = Ibn Zohr University [Agadir]
Rania Elouidani: Université Ibn Zohr = Ibn Zohr University [Agadir]

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Abstract: Sustainable investment, unlike other approaches, does not require rejecting investments based on their sector of activity or investing in specialized instruments. It simply entails taking environmental, social and governance criteria into account when making investment decisions. Environmental, social and governance issues are considered the three pillars of sustainability, and their integration into investment decisions is growing worldwide. In Morocco, the Casablanca Stock Exchange introduced a stock market index in 2018 called "Casablanca ESG 10". This index calculates the stock price performance of socially responsible companies based on environmental, social and governance criteria. It is a device for recognizing and taking into account social and environmental commitments, which leads to a promoting research field. Therefore, this study allowed us to identify environmental, social and corporate governance factors that influence the investment decision among Moroccan individual investors. The results showed that social and governance criteria is among the factors deemed significant by our research model that directly affects investment intention and indirectly affects participation in the stock market.

Keywords: Sustainable investment; Investor’s behavior; ESG; Stock market.; Investissement durable; Comportement des investisseurs; Marché boursier; Investor's behavior (search for similar items in EconPapers)
Date: 2022-07-23
New Economics Papers: this item is included in nep-ara and nep-env
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Published in Revue des Etudes Multidisciplinaire en Sciences Economiques et Sociales, 2022, ⟨10.48375/IMIST.PRSM/remses-v7i2.32119⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03739144

DOI: 10.48375/IMIST.PRSM/remses-v7i2.32119

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