Investment with a conscience: Examining the impact of pro-social attitudes and perceived financial performance on socially responsible investment behavior [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 83 (2):307 - 325 (2008)
This article addresses the growing industry of retail socially responsible investment (SRI) profiled mutual funds. Very few previous studies have examined the final consumer of SRI profiled mutual funds. Therefore, the purpose of this study was to, in an exploratory manner, examine the impact of a number of pro-social, financial performance, and socio-demographic variables on SRI behavior in order to explain why investors choose to invest different proportions of their investment portfolio in SRI profiled funds. An ordinal logistic regression analysis on 528 private investors revealed that two of the three pro-social variables had a positive impact on how much the consumer invested in SRI profiled funds. Moreover, there was proof of a non-altruistic motive for investing in SRI as consumers who perceive that financial return of SRI is equal or better than "regular" mutual funds, invested a greater proportion of their portfolio in SRI profiled mutual funds. Furthermore, the results showed that women and better-educated investors were more likely to invest a greater proportion of their investment portfolio in SRI. Overall, the findings indicate that both financial perceptions and pro-social attitudes are connected to consumer investment in SRI
|Keywords||consumer investment behavior mutual funds private investors pro-social attitudes socially responsible investment|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
Joakim Sandberg (2011). Socially Responsible Investment and Fiduciary Duty: Putting the Freshfields Report Into Perspective. [REVIEW] Journal of Business Ethics 101 (1):143-162.
Rune Dahl Fitjar (2011). Little Big Firms? Corporate Social Responsibility in Small Businesses That Do Not Compete Against Big Ones. Business Ethics 20 (1):30-44.
Tjai M. Nielsen & Liesl Riddle (2009). Investing in Peace: The Motivational Dynamics of Diaspora Investment in Post-Conflict Economies. [REVIEW] Journal of Business Ethics 89 (4):435 - 448.
Petya Puncheva-Michelotti, Marco Michelotti & Peter Gahan (2010). The Relationship Between Individuals' Recognition of Human Rights and Responses to Socially Responsible Companies: Evidence From Russia and Bulgaria. [REVIEW] Journal of Business Ethics 93 (4):583 - 605.
Thomas C. Berry & Joan C. Junkus (2013). Socially Responsible Investing: An Investor Perspective. [REVIEW] Journal of Business Ethics 112 (4):707-720.
Similar books and articles
Peter Waring & John Lewer (2004). The Impact of Socially Responsible Investment on Human Resource Management: A Conceptual Framework. Journal of Business Ethics 52 (1):99-108.
Shuangge Wen (2009). Institutional Investor Activism on Socially Responsible Investment: Effects and Expectations. Business Ethics 18 (3):308-333.
Angeles Fernandez-Izquierdo & Juan Carlos Matallin-Saez (2008). Performance of Ethical Mutual Funds in Spain: Sacrifice or Premium? [REVIEW] Journal of Business Ethics 81 (2):247 - 260.
Matthew Haigh & James Hazelton (2004). Financial Markets: A Tool for Social Responsibility? [REVIEW] Journal of Business Ethics 52 (1):59-71.
Greig A. Mill (2006). The Financial Performance of a Socially Responsible Investment Over Time and a Possible Link with Corporate Social Responsibility. Journal of Business Ethics 63 (2):131 - 148.
Francisco Climent & Pilar Soriano (2011). Green and Good? The Investment Performance of US Environmental Mutual Funds. Journal of Business Ethics 103 (2):275-287.
Javier Gil-Bazo, Pablo Ruiz-Verdú & André A. P. Santos (2010). The Performance of Socially Responsible Mutual Funds: The Role of Fees and Management Companies. [REVIEW] Journal of Business Ethics 94 (2):243 - 263.
Christopher J. Cowton & Joakim Sandberg (2012). Socially Responsible Investment. In Ruth Chadwick (ed.), Encyclopedia of Applied Ethics, 2nd ed. Academic Press.
Karen L. Benson, Timothy J. Brailsford & Jacquelyn E. Humphrey (2006). Do Socially Responsible Fund Managers Really Invest Differently? Journal of Business Ethics 65 (4):337 - 357.
Josep M. Lozano, Laura Albareda & M. Rosario Balaguer (2006). Socially Responsible Investment in the Spanish Financial Market. Journal of Business Ethics 69 (3):305 - 316.
Added to index2009-01-28
Total downloads30 ( #68,171 of 1,679,387 )
Recent downloads (6 months)2 ( #111,749 of 1,679,387 )
How can I increase my downloads?