Open AccessResponsible Investing: A Study on Non-Economic Goals and Investors’ Characteristics
Author(s) -
Renuka Sharma,
Kiran Mehta,
Vishal Vyas
Publication year - 2020
Publication title -
applied finance letters
Language(s) - English
Resource type - Journals
eISSN - 2253-5802
pISSN - 2253-5799
DOI - 10.24135/afl.v9i2.245
Subject(s) - investment (military) , social responsibility , business , order (exchange) , socially responsible investing , investment management , impact investing , sustainable development , investment decisions , welfare , investment strategy , finance , economics , public economics , behavioral economics , market economy , public relations , political science , emerging markets , corporate governance , politics , market liquidity , law
The notion of rational investment is not attuned with the idea of socially responsible investment. Incongruence with conventional investments, the SRI/sustainable investment/ethical investment is pertained to ethical, environmental and social criteria (Eccles and Viviers,2011). All investors are not single-minded for an objective of wealth creation. The welfare of society and the environment are among the other drivers of investment. In certain cases, investors do prefer sustainable development to personal financial aspects (Beal et al., 2005). The present study has primarily focused on assessing the relationship between individual investors’ attributes and their noneconomic goal in order to comprehend their socially responsible investment behaviour specifically in Indian scenario. The findings of study are useful for fund managers, regulators and researchers as study has provided useful insights regarding behaviour of Indian investors for responsible investments.