A Comparison of Socially Responsible and Conventional Investors

Socially responsible investment is a rapidly emerging phenomenon within the field of personal investment. However, the factors that lead investors to choose socially responsible investment products are not well understood, especially in an Australian context. This study provides a comparative examin...

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Bibliographic Details
Published in:Journal of business ethics 2004-06, Vol.52 (1), p.11-25
Main Authors: McLachlan, Jonathan, Gardner, John
Format: Article
Language:English
Subjects:
Australia
Business ethics
Business studies
Comparative analysis
Consumer behavior
Consumers
Corporate responsibility
Decision making
Demographics
Ethical banking
Ethics
Factor analysis
Financial investments
Investment
Investment companies
Investment decisions
Investment policy
Investment strategies
Investors
Morality
Personal finance
Portfolio management
Social ethics
Social investing
Social responsibility
Socially responsible investing
Stockholders
Stocks
Studies
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Summary:Socially responsible investment is a rapidly emerging phenomenon within the field of personal investment. However, the factors that lead investors to choose socially responsible investment products are not well understood, especially in an Australian context. This study provides a comparative examination of conventional and socially responsible investors, with the aim of identifying such factors. A total of 55 conventional investors and 54 ethical investors participated in the study by completing mailed questionnaires about their investment and general behaviour and their attitudes and beliefs. Results indicated some important differences between socially responsible and conventional investors in their beliefs of the importance of ethical issues, their investment decision-making style, and their perceptions of moral intensity. These results support the notion that socially responsible investors differ in critical ways to conventional investors, and are discussed in terms of theoretical and practical implications.
ISSN:0167-4544
1573-0697
DOI:10.1023/b:busi.0000033104.28219.92