Will Prosocial Behavior Influence Intentions Of Indian Investors To Join Socially Responsible Investment?
Main Article Content
Abstract
Introduction and Background:
This study examines the impact of prosocial behavior on Indian investors' intentions to participate in Socially Responsible Investment (SRI). Given the increasing global concerns about sustainability, climate change, and social responsibility, SRI has gained significance in the investment arena. However, there is a gap in understanding how prosocial behavior, characterized by individuals' concerns for societal and environmental welfare, influences investment decisions in the Indian context.
Materials and Methods:
To explore this relationship, our study utilizes a comprehensive theoretical framework that combines elements of the Theory of Planned Behavior (TPB) with prosocial constructs, including perceived financial performance, perceived consumer effectiveness, and perceived behavioral control. We conducted empirical analysis and gathered survey data from a diverse sample of Indian investors. This research aims to clarify the extent to which prosocial behavior shapes their intentions to engage in SRI.
Results:
The study's findings have substantial implications for Indian investors, financial institutions, and policymakers. A deeper comprehension of the role of prosocial behavior in investment choices can inform the development of customized investment products, financial education initiatives, and regulatory policies that encourage socially responsible investing. Furthermore, this research contributes to the broader global discourse on SRI and underscores the significance of prosocial behavior in shaping investment intentions within a rapidly evolving financial landscape.
Conclusion and Recommendations:
In conclusion, this study highlights the vital connection between prosocial behavior and Indian investors' intentions to participate in SRI. To promote socially responsible investing in India, financial institutions and policymakers should consider designing investment products that align with investors' prosocial values. Additionally, educational initiatives can raise awareness about the impact of SRI on society and the environment. Policymakers should explore regulatory measures that encourage responsible investing and provide incentives for companies to adopt sustainable practices. This research emphasizes the global relevance of prosocial behavior in shaping investment intentions and calls for concerted efforts to advance SRI within the Indian context and beyond.