Determinants of Intent to Invest in Esg: A Behavioral Finance and Technology Based Approach

Abstract

Purpose: The purpose of the study is to evaluate key drivers of intention to invest in ESG integrating a behavioral finance and technology-based approach. The research aimed to investigate how behavioral biases influence ESG investment decisions.

Design/Methodology/Approach: Structural Equation Model using SPSS26. A deductive approach and quantitative data have been used in the current study.

Findings: The findings of the study indicated that there is a significant impact of Attitude towards ESG Investments, social influence, perceived behavioral control, risk perception, and perceived financial return on intention to invest in ESG investments

Practical Implications: Advocating for ESG investments can enhance environmental conservation, social justice, and ethical governance. The study reveals the main elements affecting ESG investment intention, thereby providing information that can help digital investment platforms, policymakers, and financial institutions create effective plans to support ethical investing. Improved participation in ESG investments aids in fostering fair society and sustainable growth of the economy.

Originality Values: This study holds a lot of significance since, it has combined three theories TPB, UTAUT, and Behavioural Finance Theory. This research has assessed the ESG investing determinants. This varied strategy advances and offers insightful analysis of sustainable investing strategies by bridging the technical, behavioural and psychological aspects of investing.