Abstract
Abstract In this paper, we present the results of an online questionnaire among private German mutual fund investors. In an exploratory nature, we empirically analyze the differences between three groups: sustainable investors, conventional investors that are either generally interested or those that are not interested at all to invest in socially responsible (SR) funds. We provide evidence on motives and attitudes of these three investor groups, showing that SR fund investors are quite similar to those interested in investing sustainably and very different from those who only consider investing conventionally. All three groups agree that sustainable actions of a company affect its stock price positively. Yet, they all believe that SR funds perform worse than conventional funds. Nevertheless, some still invest in SR funds. Consequently, different motives and attitudes are the determining factors when it comes to making an investment decision. These differences will be extensively discussed on the following pages.
Highlights
During the last two decades the area of socially responsible investments (SRI) has grown substantially
In this paper, we present the results of an online questionnaire among private German mutual fund investors
According to Nilsson (2008) pro-social attitudes (PSA) towards the SEE issues addressed by Sustainable fund investors (SR) funds, trust in SR funds and the perceived consumer effectiveness (PCE) regarding the ability of SR funds to solve the issues addressed in SRI
Summary
During the last two decades the area of socially responsible investments (SRI) has grown substantially. Whereas Junkus and Berry (2010), Tippet and Leung (2001), and Rosen et al (1991) characterize SR investors to be ‘‘less affluent’’ or/and having ‘‘lower median household (...) incomes’’, McLachlan and Gardner (2004), Nilsson (2008), as well as Cheah et al (2011) assume that better earning and/or wealthier investors ‘‘may be more willing to tolerate ‘ethical penalty’’’ Following this reasonable assumption, we suppose: H1d The proportion of investors with a higher income level rises with the respondents’ involvement to SR investing (from CONV to INT to SR fund investors). H2d PCE with regard to SRI will affect consumer behavior for SR funds in a positive way
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
