The information search process of socially responsible investors

Nilsson, Jonas; Nordvall, Anna-Carin; Isberg, Sofia

doi:10.1057/fsm.2010.5

Cited by 37 publications

(34 citation statements)

References 29 publications

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“…Many German retail investors invest their money in complex financial products and require support for their investment decision because they do not understand the financial products or lack the knowledge and practical experience [16][17][18]. Investment advisors are a prime information source for private investors, especially concerning sustainable investments [4,[16][17][18]. On the demand side, there are general information deficits in financial services, in particular with respect to ethical investment funds [12,19,20].…”

Section: The Role Of the Investment Advisormentioning

confidence: 99%

“…The main drivers of this development are institutional investors, but the market for private investors plays an increasingly important role in this development [2]. Yet, supply and demand for sustainable investments in Germany still lags behind markets such as the USA [3,4]. However, private investors are increasingly becoming interested in sustainable financial products that take ecological, social, and ethical aspects into account.…”

Section: Introductionmentioning

confidence: 99%

“…The purpose of this paper is to explore the discrepancy between supply and demand of sustainable financial products in German retail banking from a financial advisor's point of view. Specifically, we notice a gap between growing demand [2,[5][6][7][8] and a lack of suitable financial products from credit unions and co-operative banks [3,4,6]. A qualitative study based on an inductive research design aims to find possible moderators through interviews with financial advisors.…”

Section: Introductionmentioning

confidence: 99%

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Exploring the Supply-Demand-Discrepancy of Sustainable Financial Products in Germany from a Financial Advisor’s Point of View

et al. 2018

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Although retail investors' interest in sustainable investment is constantly increasing, German credit unions and cooperative banks offer few sustainable financial products. The purpose of the study is to explore the current gap between supply and demand of sustainable financial investments in German retail banking from a financial advisor's point of view. We use qualitative analysis of interviews with financial advisors based on a Grounded Theory approach with the aim to identify the key causation in the cause-effect relationship of the supply-demand-discrepancy. Our findings yield two explanations of the discrepancy. First, investment advisors attribute responsibility towards private investors, i.e., they ask for a clear signal whether private investors are interested in sustainable investment. Thereby, we refer to causal and responsibility attribution theory for grasping this phenomenon. Second, investors are risk-averse and therefore reluctant to invest in stocks, which represent the common form of sustainable investment in Germany. Accordingly, we propose risk averseness as a variable moderating the relationship between demand and supply of sustainable investment products within the frame of attribution theory. The study contributes towards the state-of-the-art by proposing an explanation for the mechanisms underlying the advisor-customer-relationship in the context of predominant risk-averse investment culture that currently hamper the expansion of the Socially Responsible Investment (SRI) segment of private investors in Germany. This paper outlines measures for promoting sustainable financial products in Germany, namely, among others, the creation of a more customizable offering of SRI products and the importance to inform customers about sustainable investment opportunities by advisors and banks.

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Section: The Role Of the Investment Advisormentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Exploring the Supply-Demand-Discrepancy of Sustainable Financial Products in Germany from a Financial Advisor’s Point of View

et al. 2018

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“…Several researchers (Elliott, 1994;Lin & Chen, 2006;Loibl & Hira, 2009;McColl-Kennedy & Fetter, 1999aMishra & Kumar, 2012;Nilsson et al, 2010) found a positive relationship between involvement levels and the extent of information search, but Pratt (1998) relationship in the context of holiday travel decisions. Perceived benefit of search is also positively related to the extent of information search.…”

Section: Relationships Of Constructs With the Extent Of Information Smentioning

confidence: 99%

Information search behaviour of service consumers: Review and future directions

Medhavi¹

2015

Mark. Rev.

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Though a series of articles have appeared in journals investigating information search behaviour, there has been no systematic review of literature which draws attention to the variables studied and their relationship with information search in services. To fill this gap, this study aims to review the research that has investigated factors influencing the external information search behaviour in the domain of services and to accentuate the important yet less studied factors. The review also aims to draw attention to the contrary findings in literature and proffer future research propositions. A detailed search for literature was conducted using different databases with different keywords. The variables affecting information search were classified into four categories, namely, behavioural factors, personal factors, product/service factors and situational factors, and it was found that a few factors need more focus by researchers. A set of propositions for future research has been offered.

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“…Another new feature of this research is the application of this technique to a medium‐term savings product: savings deposits. In the literature on SRI, there are studies focused on the purchasing of investment funds (Barreda‐Tarrazona, Matallín‐Sáez, & Balaguer‐Franch, ; Lewis & Mackenzie, ; Nilsson, ; Nilsson, ; Nilsson, Nordvall, & Isberg, ; Sandberg & Nilsson, ; Tippet, ; Wins & Zwergel, ) and the purchase of shares (Beal & Goyen, ; Clark‐Murphy & Soutar, ; Consolandi, Innocenti, & Vercelli, ; Nakai, Honda, Nishino, & Takeuchi, ). However, no studies using this approach and focussing on savings deposits have been found, despite this being one of the most popular financial products in the Spanish market (Bank of Spain, ; Valor et al, ).…”

Section: Introductionmentioning

confidence: 99%

Socially responsible investment: An analysis of the structure of preferences of savers

Mera

Palacios-González

2019

Corp Soc Responsibility Env

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Ethical and charity financial products can be considered as a tool that drives the corporate social responsibility of the financial institutions and, indirectly, that of the companies that try to capture financial resources through them. The objective of this study is to identify the structure of preferences of savers to identify the relative importance of those attributes linked to socially responsible investment. The results allow for an estimation of the market potential of a socially responsible savings deposit and ethical banking.A survey was conducted on 415 Spanish savers, and the analysis has been carried out using conjoint analysis technique.Taking into account the characteristics of their preferences, four groups of savers have been identified: "potential socially responsible savers," "charitable savers,""savers focused on financial return," and "conventional savers based on availability." Some socio-demographic variables are relevant when describing segments of savers: age, educational level, and income level.

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The information search process of socially responsible investors

Cited by 37 publications

References 29 publications

Exploring the Supply-Demand-Discrepancy of Sustainable Financial Products in Germany from a Financial Advisor’s Point of View

Exploring the Supply-Demand-Discrepancy of Sustainable Financial Products in Germany from a Financial Advisor’s Point of View

Information search behaviour of service consumers: Review and future directions

Socially responsible investment: An analysis of the structure of preferences of savers

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