Socially responsible stocks: a boon for investors in India

Tripathi, Vanita; Bhandari, Varun

doi:10.1108/jamr-03-2014-0021

Cited by 35 publications

(36 citation statements)

References 9 publications

(14 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…There is a burgeoning interest in the concept of CSR in recent years. The wide popularity of CSR is attributable to global warming, environmental degradation, corporate frauds and global financial crisis (Tripathi and Bhandari, 2015). According to Aguinis and Glavas (2012), CSR means organizational endeavors that consider stakeholders' expectations in social, environmental and economic contexts.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Effect of transformational leadership on job performance: testing the mediating role of corporate social responsibility

Jnaneswar¹,

Ranjit²

2020

JAMR

View full text Add to dashboard Cite

PurposeEncouraging employees to bolster their performance in today's turbulent business environment is an important priority for all types of organizations. Even though few studies reported the impact of transformational leadership (TL) on job performance (JP), the role of mediators namely corporate social responsibility (CSR) in this relationship is not given due attention. The purpose of this paper is to assess the mediating role of CSR in the relationship between TL and JP in the Indian context.Design/methodology/approachData from 306 full time employees working in the manufacturing industry in India were collected through an online survey. The manufacturing organizations were selected on the basis of their active participation in CSR activities and robustness of HR practices. Three structured questionnaires were used for eliciting data from the employees, and AMOS software was used for testing the validity of the hypothesized model. PROCESS macro was used for testing the mediating role of CSR.FindingsTL impacted both JP and CSR. Additionally, CSR showed a positive relationship with JP of employees. The pivotal finding of the study is the partial mediation of CSR in the TL–JP relationship.Originality/valueBased on neo-charismatic paradigm theory, TL theory, stakeholder theory and social identity theory, this paper enriches the literature by demonstrating the mediation mechanism driving TL and JP relationship.

show abstract

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Effect of transformational leadership on job performance: testing the mediating role of corporate social responsibility

Jnaneswar¹,

Ranjit²

2020

JAMR

View full text Add to dashboard Cite

show abstract

“…This shows nothing but an indication of investors' positive attitude towards socially responsible companies. The positive performance by GREENEX and ESG (environment, social and governance) index reported during the crisis period (Tripathi and Bhandari, 2015) indicates the increasing demand for stocks of socially responsible companies in the Indian stock market. This indication supports that increasing the financial performance of socially responsible companies might attract even those investors who are not bothered about social or environmental issue (Lewis and Mackenzie, 2000).…”

Section: Introductionmentioning

confidence: 99%

“…As far as literary work is concerned, the importance of social responsibility can be traced in diverse contexts where different antecedents of social responsibility have been proposed. For example, studies on growth and performance of SRI funds vis-à-vis non-SRI funds (Kempf and Osthoff, 2007;Revelli and Viviani, 2015;Lewis and Mackenzie, 2000;Tripathi and Bhandari, 2015), the relationship between institutional settings and corporate social responsibility (Demirbag et al, 2017), the effect of religious belief and SRI on the cost of debt (Li et al, 2019), explanation on the adoption of similar supplier development (SD) to address the social issues faced by local supply chains of developing countries (Yawar and Kauppi, 2018), the relationship between demography of consumers and social responsibility (Singh, 2009) etc. are a few of the literature works which have attracted global attention on social well beings.…”

Section: Introductionmentioning

confidence: 99%

Individual investors’ intention towards SRI in India: an implementation of the theory of reasoned action

Raut

Kumar

Das

2020

SRJ

View full text Add to dashboard Cite

Purpose This study aims to explore and comprehend the reasons behind individual investors’ intention towards socially responsible investment (SRI) in the Indian stock market along with examining the validity of the theory of reasoned action (TRA) model to predict such phenomenon in the Indian context. Design/methodology/approach The TRA has been used as an underlying framework and has been extended by adding four variables, namely, moral norms, environmental concern, financial literacy and financial performance. The study used a self-administered questionnaire and adopted a convenience sampling method for a survey to collect the data from the individual investors from the capital cities of three states of India. Further, the collected data have been analysed using two-step structural equation modelling. Findings Results of this study indicate a significant impact of attitude, subjective norms, moral norms, financial literacy and financial performance on investors’ intention towards SRI; however, no significant relation was found between environmental concern and investors’ SRI intention. The multiple squared correlation (R2) shows that the final model could explain 71% of the variance in investors’ intention towards SRI, which signifies a successful implementation of TRA model along with new additions to predict investors’ decision-making behaviour for SRI. Moreover, investors are found to be highly concerned primarily about their financial goals and then for their personal obligation towards society as far as SRI is concerned. Practical implications This study reports significant and prominent importance of subjective norms in SRI which could be a strategic theme for the government and the policymakers to influence investors through their opinion leaders to promote SRI. The government should also increase its efforts to facilitate financial literacy among citizens. Originality/value Using the TRA model and four variables, namely, moral norms, environmental concern, financial literacy and financial performance addition to its original variables, this study extends the understandings of SRI which is perhaps the novelty of this paper because such examination of SRI has not been conducted, especially in the case of developing countries such as India.

show abstract

“…Chen ( 2008) compared the green core competence, green product innovation performance, green process innovation and green image of Taiwanese large enterprises with small and medium enterprises in information and electronic industry found that the influence of all these variables of SME's was significantly less than those of large enterprises in Taiwan. While comparing the socially responsible stocks with other portfolios, socially responsible stocks portfolios are found higher return with lower during crisis and post-crisis (Tripathi & Bhandari, 2015). In contraction to this (Jain et al, 2019) found that sustainable indices and conventional indices are integrated and there is no significant difference in the performance between sustainable indices and conventional indices.…”

Section: Sustainability Indicesmentioning

confidence: 71%

“…"Socially Responsible Investing, also known as sustainable, socially conscious, green or ethical investing, is any investment strategy which seeks to consider both financial return and social good" (Jain & Rohra, 2016). In recent years, the concept of Socially Responsible Investment has gained more popularity because of the increasing impact of global warming, climate change, environmental degradation, as a result, more investors making their investment by considering Environmental, Social, and Governance Factors (Tripathi & Bhandari, 2015). A socially responsible investor not only looks for return/wealth maximization but also encourages environmental, social, and governance practices of corporates, it has a long-term consequence on companies' financial performance (Jain & Rohra, 2016).…”

Section: Introductionmentioning

confidence: 99%

Carbon Reduction and Sustainable Investment: A Way to Sustainable Development

Neenu.¹,

Nishad²

2021

Energy Economics Letters

View full text Add to dashboard Cite

The present empirically examines the impact of five variables, namely Economic level, Population-level, Urbanization level, Industry proportion, Fossil fuel energy consumption, and Methane emission on Carbon intensity in India. It also evaluates the volatility and impact of news on asymmetric volatility of sustainable indices in the Indian stock market, S&P BSE CARBONEX, S&P BSE GREENEX, and S&P BSE 100 ESG against S&P BSE SENSEX as poxy for the market index. The data for the study was collected from the World Bank Database and the official website of the Bombay Stock Exchange. The study used OLS regression to evaluate the impact of five variables on Carbon intensity and econometrics tools like GARCH and EGARCH to measure the volatility and impact of the news. The study found that Economic level, Fossil fuel energy consumption, Population-level, urbanization level, and Methane emission have a significant positive impact on carbon intensity. There is a negative relationship between economic level and carbon intensity. The volatility of SENSEX is higher than that of sustainability indices. The study found that there is an asymmetric impact of positive and negative news on stock volatility, as parameter γ is negative and significant for all indices. Contribution/ Originality:The study is very significant, as it provides new insight in to factors influencing carbon emission and the role of sustainable indices in the promotion of sustainable development in India. The findings of the study are important to investors, portfolio managers, financial advisers, and other stakeholders of the financial market interested in promoting sustainable investment.

show abstract

Socially responsible stocks: a boon for investors in India

Cited by 35 publications

References 9 publications

Effect of transformational leadership on job performance: testing the mediating role of corporate social responsibility

Effect of transformational leadership on job performance: testing the mediating role of corporate social responsibility

Individual investors’ intention towards SRI in India: an implementation of the theory of reasoned action

Carbon Reduction and Sustainable Investment: A Way to Sustainable Development

Contact Info

Product

Resources

About