Investor behavior and the demand for conventional and socially responsible mutual funds

Matallín‐Sáez, Juan Carlos; Soler‐Domínguez, Amparo; Navarro-Montoliu, Salvador; Mingo‐López, Diego Víctor de

doi:10.1002/csr.2172

Cited by 9 publications

(1 citation statement)

References 74 publications

(87 reference statements)

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“…They highlight the need to create awareness about environmental, social and governance and socially responsible investment indices, funds, and returns, which are important for driving investment decisions. However, Matallín-Sáez et al. (2022) argue that fund performance is the primary driver of fund flows and that socially responsible investment funds are no exception.…”

Section: Content Analysismentioning

confidence: 99%

Mutual funds marketing: a hybrid review and framework development

Thakker,

Kalro,

Joshipura

et al. 2023

IJBM

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PurposeThis study examines current dynamics, consolidates current knowledge, elicits trends, identifies and analyzes primary research clusters, and offers future research directions for mutual fund marketing.Design/methodology/approachUsing bibliographic information from the SCOPUS database, this study used sequential bibliometric (143 documents) and content analyses (37 documents). Bibliometric analysis aids descriptive analysis and science mapping, while content analysis facilitates identifying and analyzing research clusters and provides future research directions.FindingsThe study identifies publication trends, the most relevant authors, and journal articles and unveils the knowledge structures of the field. Analysis of bibliographic coupling reveals the following significant clusters: (1) socially responsible investing and investor preferences, (2) investor factors and traits and investment decisions; (3) external factors, mutual funds' performance and proxy information; (4) the role of disclosures and ratings in shaping investment choices, and (5) cognitive biases, information processing errors and investor behavior. Finally, it offers future research directions.Research limitations/implicationsUsing different databases, bibliometric analysis tools, study periods or article screening criteria for the study might yield different results. However, this study's significant findings are robust to such alternatives.Practical implicationsThis study summarizes primary clusters and identifies gaps in the current literature, which helps scholars, practitioners, regulators and policymakers understand the nuances of mutual funds marketing. Future studies may focus on the role of online and offline integration, using neuroscience for data m and contemporary investment behavior models.Originality/valueThis is the first study to apply a two-stage sequential hybrid review of articles published over the last decade in high-quality journals, enabling an analysis of the depth and breadth of mutual funds marketing research.

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Section: Content Analysismentioning

confidence: 99%

Mutual funds marketing: a hybrid review and framework development

Thakker,

Kalro,

Joshipura

et al. 2023

IJBM

View full text Add to dashboard Cite

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One size does not fit all: Responsible investor motivation and investment performance

Scholtens,

Willard

2024

Corp Soc Responsibility Env

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Most research in socially responsible investing is about how it influences financial performance. Hardly any study investigates how it affects responsibility. We investigate how different motives of responsible investors affect portfolio design and financial and nonfinancial performance of investments. We study financial, deontological, consequentialist, and expressive motivated responsible investors. The first seek to achieve financial outperformance by relying on environmental, social, and governance (ESG) information. The second avoid investing in controversial issues. The third seek to influence the most sustainable firms. The fourth try to enhance their own social identity by investing responsibly. We find that the specific motivation for socially responsible investing does not significantly affect financial performance. However, the motivation does have a substantial influence on the responsibility score of the portfolio. In particular, deontological portfolios underperform the universe regarding responsibility performance. This might reflect the origin of responsibility scoring where controversial firms usually invest more in responsibility than less controversial ones. The other portfolios all outperform the market. This has important lessons for responsible investment funds: they will need to find out about the motives of their investors to modify portfolio design when investing responsibly. “One size for all” is no option when targeting responsible investors.

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