IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxivy2021i3-part1p335-348.html
   My bibliography  Save this article

Acceptance of Sustainability Concept by Polish Individual Investors

Author

Listed:
  • Danuta Dziawgo

Abstract

Purpose: Currently, we can observe legislative pressure for sustainable changes that also includes sustainable finance. As a result, sustainable investment from subsidiary trend, will become dominating one. Therefore, the subject of this study is acceptance of sustainable development concept in Poland, especially among individual investors. Design/Methodology/Approach: In the article, the following research methods were used, analysis of the literature of the subject with the legal acts and desk research as well. The theory was complemented with survey on individual investors sample. Findings: The research has demonstrated that there is social acceptance for activities undertaken in the field of sustainable development. The respondents accepted the transformation toward sustainable society. Nevertheless, its current level is unsatisfactory. Investors considered the information on CSR as having the lowest informative usefulness. As many as 21% of respondents found them completely useless (0% useful) and 43% as very unhelpful (1-10% information usefulness). Practical Implications: The discussion should focus around so improve the usefulness of various parts of the financial statements for external stakeholders, especially investors. Particular attention should be paid to the part presenting non-financial data, which is currently perceived as very useless by individual investors. Originality/value: Analysis of the following issues: Are Polish individual investors taking into consideration corporate social responsibility during investment decision. Research carried out on the individual investors should be considered valuable, because there is a lack of research on the important elements for sustainable development activities within that group of participants on the capital market. Hence, the research made has a unique character.

Suggested Citation

  • Danuta Dziawgo, 2021. "Acceptance of Sustainability Concept by Polish Individual Investors," European Research Studies Journal, European Research Studies Journal, vol. 0(3 - Part ), pages 335-348.
    • Handle: RePEc:ers:journl:v:xxiv:y:2021:i:3-part1:p:335-348
    as

    Download full text from publisher

    File URL: https://ersj.eu/journal/2357/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. repec:ers:journl:v:xxiv:y:2021:i:2:p:369-395 is not listed on IDEAS
    2. Lana Ollier & Marc Melliger & Johan Lilliestam, 2020. "Friends or Foes? Political Synergy or Competition between Renewable Energy and Energy Efficiency Policy," Energies, MDPI, vol. 13(23), pages 1-23, December.
    3. Piotr Misztal, 2021. "Sustainable development and quality of life in Poland compared to other OECD member countries," RIVISTA DI STUDI SULLA SOSTENIBILITA', FrancoAngeli Editore, vol. 0(1), pages 171-186.
    4. Jeremy Galbreath, 2013. "ESG in Focus: The Australian Evidence," Journal of Business Ethics, Springer, vol. 118(3), pages 529-541, December.
    5. Simone Colle & Jeffrey York, 2009. "Why Wine is not Glue? The Unresolved Problem of Negative Screening in Socially Responsible Investing," Journal of Business Ethics, Springer, vol. 85(1), pages 83-95, February.
    6. Brendan O'Dwyer & Jeffrey Unerman & Elaine Hession, 2005. "User needs in sustainability reporting: Perspectives of stakeholders in Ireland," European Accounting Review, Taylor & Francis Journals, vol. 14(4), pages 759-787.
    7. Magdalena Ziolo & Beata Zofia Filipiak & Iwona Bąk & Katarzyna Cheba & Diana Mihaela Tîrca & Isabel Novo-Corti, 2019. "Finance, Sustainability and Negative Externalities. An Overview of the European Context," Sustainability, MDPI, vol. 11(15), pages 1-35, August.
    8. Kamila Trochowska-Sviderok, 2021. "Sustainable Security: Revolution or Utopia?," European Research Studies Journal, European Research Studies Journal, vol. 0(2 - Part ), pages 369-395.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Danuta Dziawgo, 2024. "CSR as Factor Influencing Investment Decisions Made by Individual Investors," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 553-567.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:ers:journl:v:xxiv:y:2021:i:3:p:335-348 is not listed on IDEAS
    2. repec:ers:journl:v:xxiv:y:2021:i:2b:p:938-955 is not listed on IDEAS
    3. Leszek Dziawgo, 2021. "Energy Sectors on Capital Market – Financing the Process “Towards Sustainability”," European Research Studies Journal, European Research Studies Journal, vol. 0(2 - Part ), pages 938-955.
    4. Olivier Boiral & Marie‐Christine Brotherton & Léo Rivaud & David Talbot, 2022. "Comparing the uncomparable? An investigation of car manufacturers' climate performance," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 2213-2229, July.
    5. Zhang, Dongyang, 2023. "Does green finance really inhibit extreme hypocritical ESG risk? A greenwashing perspective exploration," Energy Economics, Elsevier, vol. 121(C).
    6. Agnieszka Strzelecka, 2021. "The Field of “Public Health” as a Component of Sustainable Development—Poland Compared to the European Union," Sustainability, MDPI, vol. 13(18), pages 1-20, September.
    7. Mitzi Cubilla‐Montilla & Ana‐Belén Nieto‐Librero & Ma Purificación Galindo‐Villardón & Ma Purificación Vicente Galindo & Isabel‐María Garcia‐Sanchez, 2019. "Are cultural values sufficient to improve stakeholder engagement human and labour rights issues?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(4), pages 938-955, July.
    8. Elbasha, Tamim & Avetisyan, Emma, 2018. "A framework to study strategizing activities at the field level: The example of CSR rating agencies," European Management Journal, Elsevier, vol. 36(1), pages 38-46.
    9. Adam Arian & John Sands & Stuart Tooley, 2023. "Industry and Stakeholder Impacts on Corporate Social Responsibility (CSR) and Financial Performance: Consumer vs. Industrial Sectors," Sustainability, MDPI, vol. 15(16), pages 1-21, August.
    10. Breeda Comyns, 2016. "Determinants of GHG Reporting: An Analysis of Global Oil and Gas Companies," Journal of Business Ethics, Springer, vol. 136(2), pages 349-369, June.
    11. Dela Cruz, Aeson Luiz & Patel, Chris & Ying, Sammy & Pan, Peipei, 2020. "The relevance of professional skepticism to finance professionals’ Socially Responsible Investing decisions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 26(C).
    12. Rowbottom, N. & Lymer, A., 2009. "Exploring the use of online corporate sustainability information," Accounting forum, Elsevier, vol. 33(2), pages 176-186.
    13. Emma Avetisyan & Kai Hockerts, 2017. "Consolidation of the ESG Rating Industry as an Enactment of Institutional Retrogression," Post-Print hal-01695693, HAL.
    14. Rui Coelho & Shital Jayantilal & Joao J. Ferreira, 2023. "The impact of social responsibility on corporate financial performance: A systematic literature review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1535-1560, July.
    15. Ellitsa Dalampoura & Michael Polemis, 2021. "On the Importance of Financial Instruments to Facilitate Growth," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 71(1-2), pages 73-91, January-J.
    16. Darren D. Lee & John Hua Fan & Victor S. H. Wong, 2021. "No more excuses! Performance of ESG‐integrated portfolios in Australia," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(S1), pages 2407-2450, April.
    17. Ataur Belal & Robin Roberts, 2010. "Stakeholders’ Perceptions of Corporate Social Reporting in Bangladesh," Journal of Business Ethics, Springer, vol. 97(2), pages 311-324, December.
    18. Jin Zhu & Fei Huang, 2023. "Transformational Leadership, Organizational Innovation, and ESG Performance: Evidence from SMEs in China," Sustainability, MDPI, vol. 15(7), pages 1-23, March.
    19. Hyuck Jin Lee, 2024. "Does corporate ESG, an essential factor for overcoming the climate crisis, affect sustainability: The effects of psychological distance and purchase intention," Business Strategy and the Environment, Wiley Blackwell, vol. 33(8), pages 8747-8758, December.
    20. Irene Wei Kiong Ting & Noor Azlinna Azizan & Rajesh Kumar Bhaskaran & Sujit K Sukumaran, 2019. "Corporate Social Performance and Firm Performance: Comparative Study among Developed and Emerging Market Firms," Sustainability, MDPI, vol. 12(1), pages 1-21, December.
    21. Xue, Qinyuan & Jin, Yifei & Zhang, Cheng, 2024. "ESG rating results and corporate total factor productivity," International Review of Financial Analysis, Elsevier, vol. 95(PA).
    22. Eunjoung Lee & Gunwoo Kim, 2022. "Analysis of Domestic and International Green Infrastructure Research Trends from the ESG Perspective in South Korea," IJERPH, MDPI, vol. 19(12), pages 1-18, June.

    More about this item

    Keywords

    Sustainable finance; CSR; individual investors; financial reporting.;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:journl:v:xxiv:y:2021:i:3-part1:p:335-348. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.