Analysis of the predictive variables of the intention to invest in a socially responsible manner

Palacios-González, M. Manuela; Mera, Antonio Chamorro

doi:10.1016/j.jclepro.2018.06.066

Cited by 48 publications

(20 citation statements)

References 54 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…There is a growing trend towards incorporating sustainability issues in investment decisions by institutional investors (Revelli and Viviani 2015;Reverte 2016;Palacios-González and Chamorro-Mera 2018;Utz 2019). Extant studies find evidence for a positive relationship between institutional ownership and invested firms' environmental, social and governance (ESG) performance (Faller and Knyphausen-Aufseß 2018).…”

Section: Introductionmentioning

confidence: 99%

Do sustainable institutional investors contribute to firms’ environmental performance? Empirical evidence from Europe

Kordsachia¹,

Focke

Velte

2021

Rev Manag Sci

View full text Add to dashboard Cite

In light of current climate change discussions, this paper analyzes the effect of ownership structure on a firm’s environmental performance with a subsequent focus on corporate emission reduction. Based on a cross-national European sample consisting of 7384 firm-year observations between 2008 and 2017, this study explores the relationship between sustainable institutional investors and environmental performance. In line with prior research and embedded in an agency theoretical framework, the nature of institutional investors may act as a stimulating driver towards green business practices. Sustainable institutional investors are defined based on their signatory status to the UN Principles for Responsible Investment and their (long-term) investment horizons. The first classification stems from a content-driven sustainability perspective, while the second is derived from temporal sustainability. The results indicate that sustainable institutional ownership is positively associated with a firm’s environmental performance. Further investigations reveal that sustainable institutional investor ownership is also positively associated with firms’ willingness to respond to the Carbon Disclosure Project. These results indicate a higher carbon-risk awareness in firms with greater sustainable institutional investor ownership. Our paper significantly contributes to prior empirical research on institutional ownership and environmental performance and offers useful theoretical and practical implications. It focusses on a still-underdeveloped research area, namely organizations and their relationships with the natural environment, including institutional equity ownership as a driver towards greener practices on a corporate level.

show abstract

Section: Introductionmentioning

confidence: 99%

Do sustainable institutional investors contribute to firms’ environmental performance? Empirical evidence from Europe

Kordsachia¹,

Focke

Velte

2021

Rev Manag Sci

View full text Add to dashboard Cite

show abstract

“…Socially capable utilization practices and the aim to invest resources in a socially mindful way affirms that investors have socially dependable utilization, and obtaining these propensities is the most alluring aspect to financial institutions that attract socially capable venture investment. A model to which the intention to invest in an SRI is explained by the investor's perception, the perception of the personal gain, and the effectiveness of the action on decision-making [10]. However, investor perception of SRI is always on qualitative information.…”

Section: Introductionmentioning

confidence: 99%

Sustainable Investment: Interrelated among Corporate Governance, Economic Performance and Market Risks Using Investor Preference Approach

et al. 2019

View full text Add to dashboard Cite

Prior studies are lacking on the drivers of sustainable investment. Hence, this study examines the relationship between the social aspects, environmental aspects, economic benefits, market conditions, and corporate governance issues on sustainable investment. Sustainable investment has been rising since the last decade. However, sustainable investment is preceded by ethical investment, green investment, and socially responsible investment. In order to understand the sustainability of an investment before decision-making, it proposed a set of attributes to measure its sustainability using investor’s linguistics preferences. The proposed attributes are interrelated and based on investor’s linguistic preferences. The study employs the fuzzy set theory to handle the uncertainty resulting from the vagueness of linguistic terms and applies decision making trial and evaluation laboratory (DEMATEL) to determine the nature of interrelationships among sustainable investment attributes. The result indicates that corporate governance, economic performance, and market risks are the causal aspects of sustainable investment. In addition, this study found that transparency, anti-corruption, and board diversity were the two most important criteria of corporate governance. Furthermore, the three most important criteria of economic performance presented the model were excess return, market value, and shareholder loyalty. The theoretical and practical implications of sustainable investment are discussed.

show abstract

“…Hanss and Doran (2019) further argued that an individual’s PCE will boost sustainable development-related outcomes and will hence promote sustainable consumption. Palacios-González and Chamorro-Mera (2018) also examined the factors affecting SRI intention and hypothesized the perception of the efficacy of the action as one of the significant variables explaining SRI intention. The result of the study also revealed a significant and positive impact of PCE on the intentions to carry out socially responsible behaviour.…”

Section: Proposed Integrated Conceptual Framework For Sri Intentionmentioning

confidence: 99%

It is not an investment if it is destroying the planet

Mehta

Singh

Mittal³

2019

MEQ

View full text Add to dashboard Cite

Purpose The purpose of this paper is to critically examine the existing literature on sustainable investments and propose an integrated conceptual framework for measuring socially responsible investment intention of investors. Design/methodology/approach Based on the theory of planned behaviour, the study discusses an integrated conceptual framework by thoroughly analysing the empirical studies of last 18 years, from 2001 to 2018. Some of the important measures of these studies have been reviewed, such as country of study, research methodology applied, sample size and respondents selected, model/theory applied, variables selected and significant findings of the study. Findings The study posits that collectivism, knowledge about sustainable investment, pro-environmental attitude and perceived risk will have a positive impact on attitude (ATT) towards SRI. Moreover, attitude (ATT) and subjective norms (SN) will be positively related to intention (INT) along with the mediating effect of social investing efficacy (SIE) and moderating effects of religiosity beliefs. Practical implications Besides implications for financial managers, various government bodies, prospective investors and other stakeholders, the study will provide impetus to companies for designing more sustainable funds that can promulgate the values and beliefs of investors. Originality/value The study incrementally contributes to the literature by way of suggesting a conceptual framework that can be empirically tested by future researchers.

show abstract

Analysis of the predictive variables of the intention to invest in a socially responsible manner

Cited by 48 publications

References 54 publications

Do sustainable institutional investors contribute to firms’ environmental performance? Empirical evidence from Europe

Do sustainable institutional investors contribute to firms’ environmental performance? Empirical evidence from Europe

Sustainable Investment: Interrelated among Corporate Governance, Economic Performance and Market Risks Using Investor Preference Approach

It is not an investment if it is destroying the planet

Contact Info

Product

Resources

About