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

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  • Rajdeep Kumar Raut
  • Rohit Kumar

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

Suggested Citation

  • Rajdeep Kumar Raut & Rohit Kumar, 2023. "Do Values Predict Socially Responsible Investment Decisions? Measuring the Moderating Effects of Gender," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 22(2), pages 189-214, June.
    • Handle: RePEc:sae:emffin:v:22:y:2023:i:2:p:189-214
    DOI: 10.1177/09726527231160861
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    More about this item

    Keywords

    Values; socially responsible investment; gender; stock market; investment decision;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • D19 - Microeconomics - - Household Behavior - - - Other
    • G1 - Financial Economics - - General Financial Markets
    • G4 - Financial Economics - - Behavioral Finance

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