ORCID
Anna Doś: 0000-0002-4749-4234
Monika Foltyn-Zarychta: 0000-0002-3507-2122
Matteo Medrini: 000-0002-3952-0455
Iryna Shkura: 000-0002-2337-6882
Abstract
The readiness to sacrifice profit while making socially responsible investments among millennials, as future investors and managers, was examined. Specifically, a multi-level perspective on willingness to pay for socially responsible investment was assumed to understand how nationality, personal values and investment knowledge affect millennials’ readiness to sacrifice profit to achieve sustainability goals. Using survey data of 521 business students from Italy, Poland and Ukraine, it is showed that a considerable share of millennials prefer social and environmental performance of investment over financial return and that their nationality is the most powerful factor in explaining willingness to pay for socially responsible investment along with their sensitivity to environmental issues that takes the leading role among all personal values motivating investors to accept lower rates of return. The results can be relevant for financial institutions aiming at developing socially responsible investment products. Policy implications of the results are insights into nationality-related tensions while Europe-wide regulation of socially responsible investment could enter into force.
Recommended Citation
Doś, A., Foltyn-Zarychta, M., Pedrini, M., & Shkura, I. (2024). Millennials’ willingness to payfor socially responsible investmentand its institutional and individual antecedents – evidence from Italy, Poland, and Ukraine. Journal of Banking and Financial Economics, 2023(19), 137-159. https://doi.org/10.7172/2353-6845.jbfe.2023.1.7
First Page
137
Last Page
159
Page Count
23
Received Date
23 September 2022
Revised Date
21 June 2023
Accept Date
30 August 202
Online Available Date
15 September 2023
DOI
10.7172/2353-6845.jbfe.2023.1.7
JEL Code
F36; G11; G41; Q56
Publisher
University of Warsaw