Do Values Predict Socially Responsible Investment Decisions? Measuring the Moderating Effects of Gender

Rajdeep Kumar Raut and Rohit Kumar

Journal of Emerging Market Finance, 2023, vol. 22, issue 2, 189-214

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

Keywords: Values; socially responsible investment; gender; stock market; investment decision (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:sae:emffin:v:22:y:2023:i:2:p:189-214

DOI: 10.1177/09726527231160861

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