Advanced Search
MyIDEAS: Login

The demographic profile of socially responsible investors

Contents:

Author Info

  • Joan C. Junkus
  • Thomas C. Berry
Registered author(s):

    Abstract

    Purpose – Given the size and growing importance of socially responsible (SR)-related funds and investments, the purpose of this paper is to see if those who invest in socially responsible investments (SRIs) conform to a particular profile and if that profile is significantly different than that of a typical investor. Design/methodology/approach – This study surveyed a large group of US-based, well-informed, individual investors, members of the American Association of Individual Investors. The survey respondents included both those who invest according to SRI principles, and those with no interest in SRI, to determine if demographic differences exist. Findings – The paper finds that the typical SR investor is female and more likely to be single, younger, less wealthy, and better educated than their non-SR counterparts. Research limitations/implications – Further research is needed to determine if the higher risk aversion of women and their greater concern for the environment found in previous studies is responsible for the results. Practical implications – Given the statistically significant differences, additional efforts must be made to convince wealthier and male investors of the merits of socially responsible investing. Originality/value – This is the first paper to use individuals who have committed resources to SR to compare their demographic characteristics to investors who have not invested in SRI products as distinct groups. Second, this is the first study to compare these groups using US investor data and to measure the statistical significance of the demographic factors.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.emeraldinsight.com/journals.htm?issn=0307-4358&volume=36&issue=6&articleid=1863330&show=abstract
    Download Restriction: Cannot be freely downloaded

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Emerald Group Publishing in its journal Managerial Finance.

    Volume (Year): 36 (2010)
    Issue (Month): 6 (June)
    Pages: 474-481

    as in new window
    Handle: RePEc:eme:mfipps:v:36:y:2010:i:6:p:474-481

    Contact details of provider:
    Web page: http://www.emeraldinsight.com

    Order Information:
    Postal: Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
    Email:
    Web: http://www.emeraldinsight.com/mf.htm

    Related research

    Keywords: Consumer behaviour; Demographics; Investments; Investors; Social responsibility; United States of America;

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Beal, Diana & Goyen, Michelle, 1998. "'Putting Your Money Where Your Mouth Is' A Profile of Ethical Investors," Financial Services Review, Elsevier, vol. 7(2), pages 129-143.
    2. Diamantopoulos, Adamantios & Schlegelmilch, Bodo B. & Sinkovics, Rudolf R. & Bohlen, Greg M., 2003. "Can socio-demographics still play a role in profiling green consumers? A review of the evidence and an empirical investigation," Journal of Business Research, Elsevier, vol. 56(6), pages 465-480, June.
    3. Palsson, Anne-Marie, 1996. "Does the degree of relative risk aversion vary with household characteristics?," Journal of Economic Psychology, Elsevier, vol. 17(6), pages 771-787, December.
    4. Brad M. Barber & Terrance Odean, 2001. "Boys Will Be Boys: Gender, Overconfidence, And Common Stock Investment," The Quarterly Journal of Economics, MIT Press, vol. 116(1), pages 261-292, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Miwa Nakai & Tomonori Honda & Nariaki Nishino & Kenji Takeuchi, 2013. "An Experimental Study on Motivations for Socially Responsible Investment," Discussion Papers 1314, Graduate School of Economics, Kobe University.
    2. Thomas Berry & Joan Junkus, 2013. "Socially Responsible Investing: An Investor Perspective," Journal of Business Ethics, Springer, vol. 112(4), pages 707-720, February.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:eme:mfipps:v:36:y:2010:i:6:p:474-481. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Louise Lister).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.