Title: Are Indian investors really concerned about socially responsible investments? A mediation and moderation model

Authors: Tanya Soni; Rashmi Chaudhary

Addresses: Department of Commerce, Kurukshetra University, Kurukshetra, Haryana, India ' Department of Commerce, Kurukshetra University, Kurukshetra, Haryana, India

Abstract: Market participants from all around the globe are becoming more and more interested in socially responsible investments. This study intends to examine the mediating effect of social investing efficacy, in conjunction with the moderating effect of investors' gender, in the association between attitude towards socially responsible investments (SRI) and SRI intentions. Data for the research are gathered from 424 stock market individual investors in North India using questionnaire. This research utilises CB SEM and process macro model 5 to assess the mediation and moderation model. Environmental concern is shown to have the greatest influence on attitude towards SRI. Furthermore, the association between attitude towards SRI and SRI investment intention is considerably mediated by social investing efficacy. Gender did not, however, have a moderating influence, demonstrating that male and female investors have the same perception of socially responsible funds. The findings might greatly assist policymakers in understanding the individual investors' psychology.

Keywords: attitude; environmental concern; investment intention; social investing efficacy; SIE; socially responsible investment; SRI.

DOI: 10.1504/IJICBM.2026.155443

International Journal of Indian Culture and Business Management, 2026 Vol.38 No.3, pp.277 - 300

Received: 08 Sep 2023
Accepted: 12 May 2024
Published online: 03 Aug 2026 *

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