Drivers of Corporate Social Responsibility Attitudes: The Demography of Socially Responsible Investors

Which proportion of SR investments is enough? A survey-based approach

“…The generally accepted view is that welleducated and less wealthy women or young adults are concerned about SR issues in the investment decision to a higher degree. Several studies such as Beal and Goyen (1998), Rosen et al (1991), Tippet and Leung (2001), Beal et al (2005), Schueth (2003), Haigh (2008), Nilsson (2008), Nilsson (2009), Junkus and Berry (2010), Cheah et al (2011) and Pérez-Gladish et al (2012) confirm this point of view. On the contrary, McLachlan and Gardner (2004) and Williams (2007) find little evidence that ethical investors differ in demographics compared to their conventional counterparts.…”

“…Generally, there is no valid approach on how to differentiate between SR and conventional investors. Since SR investments may also attract conventional investors, it does not mean that the involvement of SR investment products in one's individual portfolio signalizes an SR investor (Cheah et al 2011). Different from Wins and Zwergel (2014), who compare ethical investors, conventional investors and those who are generally interested in SRI, we are primarily interested in whether the respondents are driven by social, ecological or ethical principles in their decision-making process.…”

Investor Attitudes, Investment Screen Use, and Socially Responsible Investment Behavior

“…These findings are consistent with the first perspective described by Moser and Martin (2012), namely, that companies engage in socially responsible activities in order to maximize shareholder value. It is also in agreement with a third view of SRI described by Cheah et al (2011), which is that socially responsible companies are more profitable than socially irresponsible companies.…”

“…The hegemony of the Western DSP, however, suggests that investors may be slow to accept this worldview. Thus, it appears that both perspectives on socially responsible corporate activities described by Moser and Martin (2012), as well as the divergent investor views on SRI described by Cheah et al (2011), indicate that investors' reliance on SRI screens and their SRI choices will depend on their attitudes.…”

“…Writing from a management research perspective, Cheah et al (2011) describe two investor 'views' which also suggest that attitudes are important in the decision to choose SRIs.…”