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
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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|
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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.
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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.
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