Investment Motives Research Articles

Institutional Investors, CSR Report Readability and the Moderating Role of ESG Performance

This study examines the impact of institutional investors on the readability of corporate social responsibility (CSR) reports in the Chinese polluting industry. All available CSR reports in the listed polluting industries in China from 2010 to 2019 are analyzed to develop a readability score for each company. To differentiate the heterogenous motivation of institutional investors, we classify institutional investors into long-term and short-term investors based on their holding purpose and trading frequency. The results show that long-term institutional investors with long-term horizons have strong motivation to engage in the CSR reports disclosure. However, short-term institutional investors pursue near-term interests and they may have weak incentives to participate in the corporate governance and improve CSR report readability. Furthermore, we also find that the positive relationship between long-term institutional investors and CSR readability is stronger in polluting firms with higher environmental, social, and governance (ESG) performance. The significant role of institutional investors in promoting CSR reporting highlights the importance for polluting firms to acknowledge the needs of large and influential investors.

Do International Trade Frictions Influence the Competitiveness of Entity Enterprises? Evidence from the Perspective of Financialization

International trade frictions have changed the business environment of enterprises. However, how do these changes influence the behavioral decisions of enterprises, and will this further affect enterprise competitiveness? Exploring these questions will help determine the influencing mechanism of external negative impacts, such as international trade frictions, on the competitiveness of entity enterprises. In this study, the influences of China-U.S. trade friction, which served as an exogenous research event, on the competitiveness of entity enterprises were empirically analyzed via a difference-in-difference (DID) model with semiannual report information of Chinese nonfinancial A-share listed companies in 2016 to 2020 as research samples. Research results show that the China-U.S. trade friction promotes enterprises to enlarge their financial asset investment by changing the business environment of enterprises. Moreover, this friction further weakens the enterprise competitiveness, an essential element of industrial investments. As revealed by further heterogeneity analysis, the China-U.S. trade friction has generated heterogenous influences on enterprise competitiveness in the aspects of investment motives, industry, competition status, and internal governance mechanism. In this study, two types of enterprise competitiveness elements—environment and resources—were included into the same research framework, and the category of theoretical research on the connotation of enterprise competitiveness was expanded. Moreover, this research provided new scenes and evidence for identifying the causal relationships of the impacts of exogenous negative events with the financial behaviors and competitiveness of entity enterprises, Furthermore, it rendered countermeasure paths and policy suggestions for scientifically coping with international trade frictions and enhancing the competitiveness of entity enterprises. Subject Classification Codes: F51; G31; G32; L25

Determinan Minat Mahasiswa Berinvestasi di Pasar Modal

This study aims to determine the effect of income, investment knowledge, investment benefits, capital market training, and motivation on students' interest in investing in the capital market, this study uses Multiple Linear Regression Analysis. The type of research used is a type of quantitative research. The population in this study is students in the Yogyakarta area. The sampling technique in this study used snowballs. The sample size was 110 respondents. Data was collected through questionnaires. The results of this study show that investment benefits and investment motivation have a positive and significant effect on students' interest in investing in the capital market. Meanwhile, income, investment knowledge, and capital market training do not affect students' interest in investing in the capital market.

Determinants of IPO´s underpricing: A systematic review

In an Initial Public Offering (IPO) process, it is expected that there will be different share price valuations by professionals, due to market flaws, meaning information asymmetry among investors. For stockholders – who previously formed the corporate structure of the company – an IPO opens up possibilities of immediate gains, as they can purchase at prices lower than established by the structuring agent. On the other hand, underpricing is an indirect cost for the company, as, part of the offer is not collected. Identifying these determinants thus becomes relevant, as this information may be essential for defining the most appropriate share price. Consequently, the purpose of this study is to perform a bibliometric analysis (including the Zipf, Bradford and Lotka Laws), followed by a systematic review of papers analyzing this theme. This analysis uses the VOSviewer and Biblioshiny software packages. As a result, informational asymmetry is confirmed as the main theory clarifying the underpricing event. Noteworthy among the determinants are the reputations of the underwriter and share issuer, the presence of corporate governance mechanisms, and the offering size. Among the knowledge gaps opening up opportunities for further studies on this topic are: investigation of the phenomenon in companies in Latin America or comparatively in emerging countries worldwide, use of a behavioral approach to analyze investor motivations, and the presence of institutional investors as IPO inducers.

PENGARUH PENGETAHUAN INVESTASI, MODAL MINIMAL, DAN MOTIVASI INVESTASI TERHADAP MINAT MAHASISWA BERINVESTASI DI PASAR MODAL SYARIAH

This research was conducted with the aimed of knowing the effect of investment knowledge, minimum capital, and investment motivation on the interest of Islamic Financial Management students class of 2019-2021 at UIN Sayyid Ali Rahmatullah Tulungagung to invest in the Islamic capital market. The research approach with probability sampling. The result of the data were obtained by distributing a questionnarire with a slovin calculation of 90 respondets. Data analysis technique using multiple regression analysis. With the result of the test on the effect of investmen knowledge has a positive and significant effect on investment interest. Minimum capital has a positive and significant effect on investment interest. And investment motivation has a positive and significant effect on investment interest in the Islamic capital market.

A growth pattern of foreign investment motivations by individuals

PurposeThis paper aims to introduce a growth comprehensive pattern to explain the phenomenon of individual foreign investment, first at the global level and then at the regional level. The patterns are developed based on a number of main theories with grounded theory (GT) as the foundation, distributed on the two pull and push forces of international business theory and migration theory; simultaneously, it is classified on the three levels (attribute–consequence–value [ACV]) of means-end theory.Design/methodology/approachAn embedded method is applied to generate two complementary datasets from two approaches: in-depth interviews and secondary data analysis.FindingsIn this structure, the investor plays a central role as the decision-maker based on the entrepreneur's motives for internationalization (economics-driven and psychology-driven factors) and the householders' motives for emigration (aspiration and access capabilities). The external forces considered are a push from the home country (structures) and pull from the host country (immigrant investment programs [IIPs]), in which the factor of (dis)trust/misconception as a moderator has an additional impact on this mobility. Demographic factors such as gender, region, generation/age, level of education, religion and occupation generally describe the characteristics of each specific target group.Research limitations/implicationsThis paper is to develop a conceptual framework.Originality/valueThe results of this study, in addition to fulfilling its own objectives, will also serve as the foundation for further research in several scientific fields such as economics, sociology and politics.Peer reviewThe peer review history for this article is available at https://publons.com/publon/10.1108/IJSE-12-2022-0786

Analysis of Green Bonds Market in China in Terms of PEST Model

Green finance has grown as a strategy in recent years for attaining sustainable development and resolving the tension between economic growth and climate change. Today, green bonds dominate the ESG (Environment, Social and Governance) themed bond market, and in this new era of green development, China's green bond market is becoming increasingly influential in the international arena. However, the development of green bonds in China is immature, and despite the existence of unified principles in policy this year, the Chinas green bond market is still relatively inactive compared to foreign countries, and the motivation of issuers and investors needs to be evoked. The PEST model is used to analyze the macro environment of a market or an enterprise, focusing on the four most influential external factors, namely Politics, Economy, Society and Technology, to analyze the macro environment of the Chinese green bond market. This paper therefore applies the PEST model to analyze the domestic green bond market environment and make recommendations for green bonds market in China to reach a higher level of development. By analyzing four major factors in the green bond market - political, economic, social and technological - this thesis is known to show that the current green bond policy tends to improve, the market is growing at a faster rate and the participation of private enterprises in society is low. Therefore, the analysis of the green bond market gives difficulties faced by the advancement and the ways to solve them.

Role of Green Bonds in Promoting Sustainability and their Effects on Public Policy

Objective: During the last decade, the launch of green bonds has been one of the most important breakthroughs in sustainable financing. The effect of environmental labels on bond yields has been a common topic. Green bonds have become increasingly common, particularly in sectors where environmental factors are economically significant for businesses. Green bonds have been taken for consideration to boost environmental performance, indicating their efficacy in reducing businesses' ecological impact.
 
 Result: These findings are specific to green bonds that have been independently confirmed, demonstrating the need of authorization as a control instrument in the green bond market. The investors have a favorable reaction to the news of issuance, with a stronger reaction for initial suppliers and securities certified by independent organizations. After the issuance, the issuers' environmental performance improves (in the form of higher environmental ratings and reduced Co-2 emissions), and long-term and green investors get a greater stake in the companies.
 
 Method: Overall, the results are consistent with a signaling argument, suggesting that issuing green bonds is a credible way for businesses to demonstrate their dedication to environmental protection by developing Green Bonds in Business for Sustainable Growth [GB-BSG] to meet the challenges mentioned above.
 
 Conclusion: Our research is among the first experimental inquiries into the effects of green bonds on the sustainability practices of businesses, the motivations of investors and issuers to enter the green bond market, and the significance of green bonds in redistributing capital to environmentally responsible endeavors.

THE INFLUENCE OF INVESTMENT MOTIVATION, INVESTMENT KNOWLEDGE, AND FINANCIAL LITERACY ON INVESTMENT INTEREST

The purpose of this study is to ascertain how investment motivation, investment knowledge, and financial literacy contribute to the millennial generation's interest in investing in Bandung. This study's sample consists of Bandung's millennials who are interested in stock investing. The purposive sampling method was used to select 220 respondents for the study's sample. Structural Equation Modelling (SEM) was used for data analysis techniques. Using the quantitative research method, a descriptive research design was used in this study. This study found that investment interest is influenced by investment motivation, investment knowledge, and financial literacy.

Captive markets and climate change: revisiting Edith Penrose’s analysis of the international oil firms in the era of climate change

ABSTRACT Edith Penrose’s analysis of the investments of the international oil companies (IOCs) stemmed from her interest in the economics of the large international firm and its implications for developing economies. Her approach highlights the endogenous factors shaping the growth of the large firm and cautions against viewing it as a neutral technocracy where investment automatically responds to price incentives. Drawing on Penrose’s concept of a captive market in oil products, this research develops Penrose’s ideas around motive, profit, self-financing and the international firm to explain why the IOC’s institutional environment still favours investment in fossil fuels. The study collected country and firm level data on investment and production in downstream petrochemical refining. The data show a connection between the captive market and the strategies of the large oil firms in expanding refining capacity as a strategic hedge against regulatory policies to limit climate change. This locks society into a carbon intensive infrastructure, reduces the motivation for investment and adds to global CO2 emissions. The findings indicate that the oil companies need to take greater risks on green investments with their retained earnings. Governments need to direct this investment towards socially useful purposes using coordinated regulatory pressure.

“All that glitters is not gold!”: The (Unexplored) Determinants of Equity Crowdfunding

Drawing from the rich literature in behavioural finance and extensive analysis of forum data from a UK equity crowdfunding platform, we present a comprehensive framework that delineates the investment decision-making process of equity crowdfunders. Our framework captures the utilitarian, emotional, and expressive investment motives that drive crowdfunders, their behaviours and actions during and after the campaign, as well as the challenges they encounter in fulfilling their investment goals. Our work highlights the crucial need to explore the extent to which entrepreneurs and crowdfunding platforms cater to the diverse investment motives and expectations of the crowd. We offer practical insights to entrepreneurs and platforms on how they can better align their strategies with the expectations and needs of equity crowdfunders.

Analisis Pengetahuan Investasi, Return Investasi dan Motivasi Investasi Terhadap Minat Investasi Mahasiswa Akuntansi Kota Batam

Investment is a preparatory action carried out by someone to prepare funds in the future. This preparation is done by investing, such as saving in the capital market, managing money to turn into a business, or buying property. In addition, by investing, the community has participated in building the country's economic development, this happens because with investment, the money circulating in the market can be monitored by the government. Investments can be made by all groups, especially students, right now everything become easier especially the requirement for starting an investment, many of securities investment only need IDR 100,000 to start an investment. The main purpose for doing this research is to know what kind of influence that come from effect knowledge of investment, investment returns and motivation of investment on the investment interest of accounting students in Batam City. The source of data used for research is using primari data, namely by distributing questionnaires to accounting students at Batam International University. The population used in this study was 609 students and then calculated using slovin technic with 5% margin of error. The application used to process questionnaire data is SPSS V26. The results of this research shown that knowledge of investment, investment returns and investment motivatiion have a significant effect on the investment interest of accountning students based in Batam City.

Digital real estate in the metaverse: An empirical analysis of retail investor motivations

This paper investigates retail investor motivations for digital real estate ownership in the crypto-metaverse. Utilizing a detailed financial behavior survey of metaverse landowners' intrinsic and extrinsic motivations, we apply principal components analysis to uncover four distinct motivational groups: (1) Aesthetics and Identity, (2) Social and Community, (3) Speculation and Investment, and (4) Innovation and Technology. Our findings reveal that age, education, investment knowledge, risk-taking, and impulsivity significantly influence investor group membership. This research provides valuable insights to investors and developers, underscoring the potential of a platform to attract retail investors with speculative intentions, engagement longevity, and passive or active trading characteristics, contingent on unique crypto-metaverse attributes.

THE EFFECT OF FINANCIAL LITERACY, INVESTMENT KNOWLEDGE, FINANCIAL EFFICACY AND INVESTMENT MOTIVATION ON STUDENT INTEREST IN CAPITAL MARKET INVESTING (STUDY ON STUDENTS OF 2018 FACULTY OF ECONOMICS AND ISLAMIC BUSINESS UIN SUNAN AMPEL SURABAYA)

This study aims to determine the effect of financial literacy, investment knowledge, financial efficacy, and investment motivation on students' interest investing in the capital market. The approach in this study uses quantitative research using primary data through distributing questionnaires. The sampling technique was proportional random sampling with total sample of 187 respondents with the help of the SPSS program. The results of this study indicate that the financial literacy variable has a significant influence on students' interest investing in capital market. Investment knowledge variable has no significant effect. The financial efficacy variable has no significant effect. Investment motivation variables have a significant influence and investment motivation variables, investment knowledge, financial efficacy, and investment motivation have a simultaneous influence on students interest in investing in the capital market. Based on results,hoped that higher education institutions, especially in the Faculty of Islamic Economics and Business, UIN Sunan Ampel Surabaya, will be able to increase or improve financial efficiency and investment knowledge, so that students more willing to try and practice them and also conduct capital market training on regular basis. For further researchers, it hoped that they will look for other factors that influence students' interest in investing in the capital market.

Greenium: Bentuk Keberpihakan Investor pada Pembangunan Berkelanjutan

Objectives. The purpose of this research is to compile a systematic literature review (SLR) regarding green bond research on the topic of greenium.Design/method/approach. The design of this research is a Literature Study. The data are collected from journals published from 2018 to 2022 and analyzed using the Protocol Search Appraisal Synthesis Analysis and Report (PSALSAR) method.Results/findings. The results showed that there are inconsistencies in the results where greenium is found in some studies and not found in other studies. In addition, there are different methods used to identify greenium. For further research on topics such as finding the determination of the emergence of greenium is still open. Theoretical contribution. This research provides additional theoretical contributions and new discussions regarding the valuation of financial assets, where apart from economic factors, non-economic factors also influence the valuation of financial assets, including investor taste.Practical contribution. This research contributes mainly to research on greenium because it found differences in investment motivation of green bond investors, so that it can be an input for further research and policies that can be taken for the development of green bonds. Limitations. This research only uses articles originating from Scopus Elsevier so that in future research it will expand the source of other articles from sources that are credible and reliable

Knowledge creation capability under different innovation-investment motives abroad: The knowledge-based view of international innovation management

This paper focuses on knowledge creation capability and motives for international investment by emerging-market multinational enterprises (EMNEs) innovating in emerging markets. It analyses the motives for the relatively underresearched innovation-intensive investment by non-Chinese EMNEs in Central and Eastern Europe and offers new insights to the knowledge-based view of international innovation management. Building on interviews with senior managers from 11 EMNEs from India, Brazil, Russia, South Africa, Malaysia, and South Korea, this qualitative study develops, through a hybrid thematic analysis approach, a knowledge-based capability perspective on managing knowledge creation under different innovation-investment motives abroad, including knowledge seeking, market seeking, and dual motives. Knowledge creation capability includes knowledge integration, knowledge sharing, and knowledge cocreation. Both internal and external dimensions of knowledge creation capability are conceptualised, along with elements linking internal and external dimensions, namely managerial orchestration and innovation projects. The paper contributes to the knowledge-based view of firm innovation and global strategy by stressing the roles of international innovation-investment motives and organisational capabilities for creating and managing knowledge in EMNEs. It offers implications for managing subsidiaries of multinational enterprises involved in innovation in emerging markets, particularly regarding enhancing and linking the internal and external dimensions of subsidiaries’ knowledge creation capability via ambidexterity.

Analisis Faktor Faktor Yang Mempengaruhi Keinginan Mahasiswa Dalam Berinvestasi Di Pasar Modal Di Era Pandemi Covid-19

This study aims to identify and analyze the effect of investment risk, level of income (capital), investment motivation and basic knowledge of investment on investment interest in students of the Faculty of Economics, University of West Sulawesi. The research design is quantitative. The sample in this study were 93 students from the accounting study program and management study program, the Faculty of Economics, University of West Sulawesi, in 2017 and 2020. Data collection in this study used the questionnaire method. Instrument trials were analyzed using validity and reliability tests. The data analysis technique used in this study is the classical assumption, simple linear regression analysis and multiple linear regression analysis. The results of this study indicate that t count with a value of x1 of 4,883, x2 of 5,703, x3 of 2,253 and x4 of 2,401 is greater than the value of t table with a value of 1.662. The significance value of variable x to variable y is below 0.05 so that H1, H2, H3 and H4 can be accepted and it can be concluded that all variables x, namely Investment Risk, Level of Income (Capital), Motivation and Basic Knowledge have an effect on variable y, namely Investment Interest. The ability of the independent variables to explain changes in the dependent variable is 57.40%.

The determinants of the use of process control mechanisms in FDI decisions in headquarters–subsidiary relationships

This study investigates the impact of foreign direct investment (FDI) motivations and technological resource commitment on headquarters’ employment of process control over subsidiaries, to better understand the process control mechanisms. Drawing on agency theory and the resource dependence perspective, a cross-sectional data model is developed among the 1541 Taiwanese manufacturing firms engaged in foreign investments, 1015 headquarters–subsidiary (HQ–Sub) relationships in China were selected from the database; in each of these relationships, the headquarters is located in Taiwan, while the subsidiary is located in China. Our findings reveal that the headquarters will use process control if the primary motivation for setting up a subsidiary in a host country is resource-seeking, but not use process control with market-seeking motivation. This control process relationship is enhanced/weakened/weakened by the headquarters’/subsidiaries’/partners’ technological resource commitment. Taiwanese multinational corporations (MNCs) from newly industrialized economies (NIEs) seeking to choose control mechanisms that fit their technological resources and FDI motivations in China are given guidelines. It adds to the use of control mechanisms with HQ-Sub literature. Both resource-seeking and market-seeking motivations shed light on technological resource commitment by various units of an MNC, to ward off information asymmetry.

The Influence Of Social Media And Education Level On Investment Motivation (Generation Z In Medan City)

Investasi merupakan sektor ekonomi yang sangat menguntungkan untuk membantu perekonomian. Namun, masyarakat Indonesia masih enggan berinvestasi karena kesadaran masyarakat akan pentingnya investasi masih lemah. Oleh karena itu, perlu diketahui faktor apa saja yang dianggap lebih mempengaruhi minat investasi, sehingga hasilnya dapat memperkuat posisi Indonesia dalam persaingan investasi. Dalam penelitian ini dirumuskan masalah apakah media sosial, tingkat Pendidikan berpengaruh secara parsial atau simultan terhadap motivasi investasi. Tujuan dari penelitian ini adalah untuk mengetahui pengaruh media sosial dan tingkat Pendidikan terhadap motivasi investasi (Generasi z kota Medan). Penelitian ini menggunakan metode kuantitatif yang mana data diperoleh dari kuesioner yang diisi oleh sampel dari populasi mahasiswa Febi Uinsu . Ini digunakan untuk berteori dan membandingkan interpretasi informasi dari sumber buku, surat kabar, internet, dan literatur tertulis lainnya.

Impact Factors of China’s Outward Foreign Direct Investment in Singapore

The sudden outbreak of COVID-19 pandemic led to a global recession, but China's OFDI remained on a steady rise, attracting global attention. By the end of 2020, Singapore was the second most developed country after the US in terms of receiving outward foreign direct investment (OFDI) flows from China. The investment cooperation between China and Singapore played an important role in promoting the high-quality development of the Belt and Road Initiative and enhancing the economic cooperation between China and ASEAN after the COVID-19 pandemic. This study delves into the influencing factors of Chinese OFDI to Singapore: home country institutions, host country institutions, and investment motives. This study takes Singapore as the research object and uses the data of China’s OFDI to Singapore from 2001 to 2020 to conduct an empirical analysis through a modified regression model to analyze the development of China’s OFDI to Singapore, so as to make contributions to: (1) providing empirical evidence for studying OFDI from developing to developed countries; (2) providing reference for investment cooperation in the post COVID period between China and Singapore.