Socially responsible investment in Malaysia: behavioral framework in evaluating investors' decision making process
Socially responsible investment in Malaysia: behavioral framework in evaluating investors' decision making process
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DOI：
10.1016/j.jclepro.2014.05.075
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发表时间：
2014-10-01
影响因子：
11.1
通讯作者：
Shauki, Elvia R.
中科院分区：
文献类型：
--
作者：
Adam, Ainul Azreen;Shauki, Elvia R.
社会责任投资（Socially Responsible Investment，SRI）是在严格的财务分析背景下，对社会、道德和/或环境进行投资决策的方法。本研究旨在探讨意向、态度、主观规范、知觉行为控制及道德规范在解释马来西亚投资者社会责任投资行为中的作用。基本框架是计划行为理论（TPB），该理论已被修改为将道德规范作为一个额外的解释变量。应用TPB在他们的测量行为的研究表明，结构的关系，影响行为，通过intention.The结果的基础上，马来西亚投资者的问卷调查的解释混合表明，态度，主观规范和道德规范的意图，这反过来又积极影响对SRI的行为有积极的影响。态度、主观规范、道德规范与行为的关系在意向的中介作用下得到显著改善。基于平方多重相关（R-2），发现最终的结构模型可以解释46%的意图方差和50%的行为方差。社会责任投资提供者和决策者在作出社会责任投资决策时，还应考虑到投资者亲友的社会压力的影响。投资者的个人标准也会影响其对社会责任投资的意向和行为。(C)2014爱思唯尔有限公司版权所有。
Socially responsible investment (SRI) is the method of investment decisions on social, ethics, and/or environment within the context of rigorous financial analysis. This study aims to examine the role of intention, attitude, subjective norms, perceived behavioral control and moral norms in explaining SRI behavior by investors in Malaysia. The underlying framework is the Theory of Planned Behavior (TpB) that has been modified to incorporate moral norms as an additional explanatory variable. Studies that apply TpB in their measurement of behavior indicate a mix of explanations for the relationship of constructs that influence behavior through intention which warrant further examinations.The results based on a questionnaire survey of Malaysian investors suggest that attitude, subjective norms and moral norms have positive effect on intention which in turn positively affects behavior towards SRI. The relationship for attitude, subjective norms, and moral norms to behavior is improved significantly by intention as a mediator. Based on squared multiple correlations (R-2), it is found that the final structural model could explain 46% of the variance in intention and 50% of the variance in behavior. SRI providers and policy makers should also consider the influence of social pressure from investors' friends and relatives in their SRI decision-making. Investors' personal standards are also found to influence the intention and behavior to invest in SRI. (C) 2014 Elsevier Ltd. All rights reserved.