ESG and Investment Decisions of Household Investors: Evidence from an Emerging Economy
- 1. Jagan Institute of Management Studies, Rohini, Delhi, India
- 2. National Institute of Securities Markets, India
Description
Abstract: This study aims to investigate the impact of ESG factors on household investors' investment decisions. Using a panel data approach, this study investigates the relationship between ESG attributes and household shareholdings from 2014-2015 to 2019-2020. We find that household investors' investment decisions were primarily influenced by the governance factor, subsequent to the environmental factor, among the three elements of ESG. The social threshold was determined to have the lowest level of significance. The outcomes of this study demonstrate how ESG components influence the equity investment decisions of investors. This finding expands the theoretical contribution to the field of responsible investment. From a practical perspective, this study has relevance for a wide range of stakeholders, including investors of all kinds, financial advisors, investment bankers, business entities, regulatory bodies along with society as a whole.
Keywords: ESG Disclosure, Investment Decisions, Household Investors, Equity, Sustainability, Transparency, Responsible Investment
JEL Classification Numbers: Q00, E01, D25, Q56
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