Is knowledge alone enough for socially responsible investing? A moderation of religiosity and serial mediation analysis

Mehta, Pooja; Singh, Manjit; Mittal, Manju; Singla, Himanshu

doi:10.1108/qrfm-11-2020-0218

Cited by 11 publications

(4 citation statements)

References 82 publications

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“…Religious people include their belief system in their investment decisions as well. (Mehta et al, 2021) Further, Sreekumar Nair & Ladha (2014 in their study articulated that religiosity and belief that one's actions could bring about change in society were two important determinants in pursuing non-economic investment goals in India.…”

Section: Discussionmentioning

confidence: 99%

Factors Influencing Muslim Investors to Invest in Sharia Stocks during the Covid-19 Pandemic

Shohiha

Pusparini

Pinasti

2022

J. Islam. Econ. Lariba

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There had been a notable increase in the number of capital market investors in 2020 and 2021 as compared to previous years. In 2020, the number of investors increased by 56.21% from that of the previous year in 2019, and in 2021 it increased to 92.99% as compared to the number in 2020. Such considerable increase was surprising despite the outbreak of Covid pandemic throughout those years, which had an impact on the downturn of community's economy, as seen from an increase in the amount of unemployment by 7.07%, and a poverty rate of 9.8%. Likewise, Indonesia experienced negative economic growth in the quarter II and III of 2020. This study aims to find the factors that influence investors in making investment decisions amidst pandemic conditions that took place in 2020 and 2021 with the variables of Financial Literacy, Influencer’s Influence, Social Media Influence, social environment, and religiosity. It was obvious that these 5 factors had an influence on investment decisions, with the Financial Literacy factor as the factor that had the greatest influence and significance with a regression coefficient of 0.721.

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Section: Discussionmentioning

confidence: 99%

Factors Influencing Muslim Investors to Invest in Sharia Stocks during the Covid-19 Pandemic

Shohiha

Pusparini

Pinasti

2022

J. Islam. Econ. Lariba

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“…The same perspective was suggested by (Berry & Junkus, 2013) when they studied the investor perspective of socially responsible investment. In Indian context, the knowledge of socially responsible investing (Mehta, Singh, Mittal, & Singla, 2021) and the performance of various ESG funds (Tripathi & Bhandari, 2015) have been studied. It was realised that further studies need to identify the level of awareness about these indices and investment in these ESG funds or socially responsible investing through other avenues in financial markets.…”

Section: Theoretical Reviewmentioning

confidence: 99%

A Study on the Level of Awareness and Perception of Investors Regarding Socially Responsible Investing in Sikkim

Chhetri

Sharma

2022

EAJMR

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SRI also refers to ethical investing and explains the combination of Environment, Social and Governance (ESG) aspects into the process of investment process. The concept of socially responsible investment which originated mostly from North American and European countries is now spread to other developed and developing countries. There has been increasing awareness with respect to SRI in the context of developed countries as evidenced by different social responsibility indices that have been framed like FTSE KLD 400 index. These indices also include companies from developing and emerging countries. In Indian context there are indices like NIFTY 100 ESG index, NIFTY 100 enhanced ESG index which is based on the ESG score of the company and has base year of April 2011. In this regard this study aims to study the awareness and perception level of investors in the context of a small state of Sikkim regarding Socially responsible Investment.

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“…Meanwhile, Sabri and Falahati (2014) discovered that financial knowledge has a greater effect on improving financial management among Muslims than among non-Muslims. There is also a significant direct effect of knowledge on socially responsible investing, in which the knowledge-efficacy relationship is stronger for the investors having religiosity beliefs than those who are nonreligious (Mehta et al, 2022). This may be because a person with high religiosity beliefs is a selfless being, whose actions are guided by his/her principles that strive for the betterment of society.…”

Section: The Connections Between Islamic Financial Knowledge and Isla...mentioning

confidence: 99%

Conceptualizing the Influence of Religiosity and Islamic Financial Knowledge on Islamic Financial Behaviours

Nawi¹,

Aziz²,

Shahwan³

2022

IJARBSS

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Studies of human behaviours have been conducted extensively and continuously in order to gain better understanding on how people make decisions. For Muslims, the behaviour must not deviate from the principles, demands, and standards set by Shari'ah. In the context of financial behaviour, Muslims are significantly influenced by their religious belief, particularly in distinguishing between halal (permissible) and haram (impermissible), as well as restrictions in financial dealings. Hence, Muslims are required to have a meticulous understanding of the subjects, as Shari'ah has established distinct guiding principles in financial arrangements. This paper aims to analyse the existing Islamic financial literacy literature by conceptualizing the influence of religiosity and Islamic financial knowledge on Muslim's financial behaviours. A literature review has been undertaken for the conceptual development. The association between Islamic financial knowledge, religiosity, and Islamic financial behaviour has been established, laying the groundwork for future research. Islamic financial knowledge and religiosity have both been demonstrated to be significant in capturing Islamic financial behaviours and are therefore indispensable components of Islamic financial literacy. This paper expands the literature by increasing our understanding of Islamic financial literacy among Muslims. The findings of this study could offer the related bodies in financial knowledge and literacy like the Organisation for Economic Co-operation and Development (OECD) for international level and local agency in Malaysia like the Credit Counselling and Debt Management Agency (AKPK) with a new perspective on Muslims' financial behaviour, by considering the role of religion and Islamic financial knowledge in order to develop effective and relevant strategies to improve financial literacy among Muslims.

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Is knowledge alone enough for socially responsible investing? A moderation of religiosity and serial mediation analysis

Cited by 11 publications

References 82 publications

Factors Influencing Muslim Investors to Invest in Sharia Stocks during the Covid-19 Pandemic

Factors Influencing Muslim Investors to Invest in Sharia Stocks during the Covid-19 Pandemic

A Study on the Level of Awareness and Perception of Investors Regarding Socially Responsible Investing in Sikkim

Conceptualizing the Influence of Religiosity and Islamic Financial Knowledge on Islamic Financial Behaviours

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