Thesis

Factoring socially responsible investment strategy preferences: an investigation based on Chinese individual investors

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Awarding institution
  • University of Strathclyde
Date of award
  • 2024
Thesis identifier
  • T17121
Person Identifier (Local)
  • 202085966
Qualification Level
Qualification Name
Department, School or Faculty
Abstract
  • This thesis examines the factors that influence individual investors' preferences for socially responsible investment (SRI) strategies. The study focuses on the Chinese market and collected 693 responses from various provinces in China through a questionnaire. The questionnaire aims to understand individuals' perceptions of SRI from ethical, financial, and practical viewpoints. A multinomial logistic regression based on the responses reveals how individuals’ perceptions regarding SRI, demographics, and investment features explain their preferences for different ways to incorporate socially responsible information into investing. This study finds that individual investors with ethical considerations are more likely to incorporate SR information into their investment decision-making process through positive and negative screens. Their self-rated SRI knowledge level is essential in differentiating their preferences for positive and negative screening strategies. Young females prefer the positive screening strategy compared with other socio-demographical groups. The study further examines whether provincial cultural values influence individuals’ SRI strategy preferences. This study finds no significant relationship between cultural values and SRI strategies either directly or indirectly when interacting with individuals’ knowledge levels. The study contributes both to academic literature and practice by exploring different factors behind individuals’ preferences for SRI strategies. Evidence indicates that investors are heterogeneous when considering SRI, and individual differences are more prominent in explaining their preferences for different SRI strategies.
Advisor / supervisor
  • McColgan, Patrick
  • Smith, Julia
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