Title: Emerging patterns in socially responsible investment: an empirical study of Indian IT workers' behavioural intention

Authors: Sagarika Mohanty; Manoranjan Dash; Lingam Naveen; Ajitav Acharya; Debabrata Sharma; Kamalakanta Muduli

Addresses: KIIT School of Management, Campus-7, KIIT University, Chandaka Industrial Estate, Bhubaneswar, Odisha 751024, India ' Faculty of Management Sciences, Siksha O Anusandhan (Deemed to be University), Bhubaneswar, India ' Biju Patnaik Institute of Information Technology and Management Studies (BIITM), Bhubaneswar, India ' Biju Patnaik Institute of Information Technology and Management Studies (BIITM), Bhubaneswar, India ' Biju Patnaik Institute of Information Technology and Management Studies (BIITM), Bhubaneswar, India ' Department of Mechanical Engineering, Papua New Guinea University of Technology, Lae, PMB 411, Morobe Province, Papua New Guinea

Abstract: The present study intends to investigate the behavioural intention of Indian IT workers in socially responsible securities investments. Additionally, it analyses the effectiveness of the theory of reasoned action (TRA) model to forecast the investment behaviour of IT workers in this context. Four variables have been added to the TRA, namely, financial literacy, perceived risk, financial return, and environmental concern. Using a self-administered questionnaire, IT workers from different states of India were surveyed and their responses were analysed with respect to the chosen variables through structural equation modelling (SEM). This study indicates that investors' behaviour intention towards SRI is influenced by attitude, subjective norms, financial literacy, perceived risks, financial return, and environmental concern. Apart from attitude and subjective norms, the financial decision of investors also impacted by risk and return factors. In the case of SRI investment, financial literacy and environmental concern also plays a prominent role. As a result, it can be inferred that investors' judgements towards SRI are influenced by impressions from their social networks as well as by financial rationale.

Keywords: socially responsible investment; SRI; behavioural intention; investment; theory of reasoned action; TRA model; SRI investors.

DOI: 10.1504/IJICBM.2025.148412

International Journal of Indian Culture and Business Management, 2025 Vol.36 No.1, pp.30 - 55

Received: 03 Sep 2023
Accepted: 06 Sep 2023
Published online: 04 Sep 2025 *

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