IDEAS home Printed from https://ideas.repec.org/a/sae/globus/v27y2026i3p631-649.html

Understanding Impact Investment Intention Using the Extended Theory of Planned Behaviour

Author

Listed:
  • Prerna Rathee
  • Shalini Aggarwal

Abstract

Impact investing is ‘blended value proposition’ that generates a mix of financial, social and environmental values for the investor, organization and businesses. This study aims to explore the factors influencing the Indian investors’ intention towards impact investing (II) using the theory of planned behaviour (TPB), extended with two constructs, that is, risk perception and internal motivation, to predict such a phenomenon in the Indian context. The data has been collected from 338 Indian investors who primarily engage in impact investing. The collected data have been analysed using two-step structural equation modelling. The findings of this study indicate a positive and significant impact of attitude, subjective norms and perceived behavioural control on investors’ intention towards impact investing in India. Risk perception has been showed the least positive influence on the investors’ intention whereas internal motivation has a highly positive influence on investors’ intention to invest for impact. This is the first attempt to measure investors’ intentions towards impact investing from the Indian perspective using the TPB model with the extended constructs, that is, risk perception and internal motivation, which is the novelty of this study. This study will help policymakers to take important regulatory measures to build an effective ecosystem for impact investing in India.

Suggested Citation

  • Prerna Rathee & Shalini Aggarwal, 2026. "Understanding Impact Investment Intention Using the Extended Theory of Planned Behaviour," Global Business Review, International Management Institute, vol. 27(3), pages 631-649, June.
    • Handle: RePEc:sae:globus:v:27:y:2026:i:3:p:631-649
    DOI: 10.1177/09721509221115001
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/09721509221115001
    Download Restriction: no
    File URL: https://libkey.io/10.1177/09721509221115001?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:globus:v:27:y:2026:i:3:p:631-649. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://www.imi.edu/ .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.