The Adoption of Socially Responsible Investments: Gen-Y Perspectives
‘Ismah Osman, Geetha Subramaniam, Saadiah Mohamad
Faculty of Business and Management, Universiti Teknologi MARA
Azlina Hanif, Faridah Hassan, Salmiza Yaakob
Arshad Ayub Graduate Business School, Universiti Teknologi MARA
Socially responsible investment (SRI) in Malaysia is still at its infancy stage since not many investors have been exposed to this type of investment. It is an investment that considers social justice, environmental sustainability, as well as the incorporation of ethical substances of business and trade. This study attempts to identify factors influencing Generation Y’s (Gen-Y) intention to adopt socially responsible investment. The theory of planned behaviour (TPB) framework is adopted and constructs which encompass attitude, subjective norms and perceived behavioural control are incorporated to examine how these variables sequentially influence the adoption of socially responsible investment. More importantly, the socially responsible consumption, as well as perceived moral obligation are also included utilizing developing an extended theory of planned behaviour research framework. The data was collected through a survey, employing a self-administered questionnaire using a 6-point Likert Scale among 390 respondents in Klang Valley. Findings show that all hypotheses are supported, except for the relationship between subjective norms and the adoption towards socially responsible investment (SRI). The findings provide useful information to the providers of investment products and services, especially in expanding their market towards promoting socially responsible investment particularly among Gen-Y.
Keywords: Gen-Y, Socially Responsible Investment (SRI), Theory of Planned Behaviour