Consumers’ sustainable investing: A systematic literature review and research agenda

IF 3.7 Q2 ENVIRONMENTAL SCIENCES
{"title":"Consumers’ sustainable investing: A systematic literature review and research agenda","authors":"","doi":"10.1016/j.clrc.2024.100215","DOIUrl":null,"url":null,"abstract":"<div><p>This systematic literature review addresses a critical gap in the existing literature by providing one of the first comprehensive syntheses of retail investors' decision-making processes within the sustainable investment context, analyzing 70 empirical articles published in top-tier journals from 2014 to 2023. Utilizing the Antecedents-Decisions-Outcomes and the Theories-Contexts-Methods (ADO-TCM) organizing framework and integrating a consumer behavior perspective, we reveal intricate dynamics influencing investment choices. Notably, while behavioral intentions (60% of articles) and actual investment decisions (23%) are frequently studied, the literature lacks focus on post-investment behavior and decision consequences.</p><p>Despite growing research interest in consumer sustainable investing, the literature predominantly focuses on high-income economies (63%). Interestingly, current research utilizes diverse theories but often concentrates on a few dominant ones. This review extends the ADO-TCM framework to the specific context of retail sustainable investing, highlighting the interaction of the consumer behavior lens with existing financial theories. This review offers a comprehensive overview and identifies research gaps to guide future explorations in this field. Moreover, the results provide actionable insights for policymakers and financial service providers, highlighting the potential of choice architecture to influence consumers’ sustainable investment decision-making.</p></div>","PeriodicalId":34617,"journal":{"name":"Cleaner and Responsible Consumption","volume":null,"pages":null},"PeriodicalIF":3.7000,"publicationDate":"2024-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2666784324000482/pdfft?md5=e2f96b534974e989e83d88ae665b0c55&pid=1-s2.0-S2666784324000482-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Cleaner and Responsible Consumption","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2666784324000482","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ENVIRONMENTAL SCIENCES","Score":null,"Total":0}
引用次数: 0

Abstract

This systematic literature review addresses a critical gap in the existing literature by providing one of the first comprehensive syntheses of retail investors' decision-making processes within the sustainable investment context, analyzing 70 empirical articles published in top-tier journals from 2014 to 2023. Utilizing the Antecedents-Decisions-Outcomes and the Theories-Contexts-Methods (ADO-TCM) organizing framework and integrating a consumer behavior perspective, we reveal intricate dynamics influencing investment choices. Notably, while behavioral intentions (60% of articles) and actual investment decisions (23%) are frequently studied, the literature lacks focus on post-investment behavior and decision consequences.

Despite growing research interest in consumer sustainable investing, the literature predominantly focuses on high-income economies (63%). Interestingly, current research utilizes diverse theories but often concentrates on a few dominant ones. This review extends the ADO-TCM framework to the specific context of retail sustainable investing, highlighting the interaction of the consumer behavior lens with existing financial theories. This review offers a comprehensive overview and identifies research gaps to guide future explorations in this field. Moreover, the results provide actionable insights for policymakers and financial service providers, highlighting the potential of choice architecture to influence consumers’ sustainable investment decision-making.

消费者的可持续投资:系统文献综述和研究议程
本系统性文献综述分析了 2014 年至 2023 年发表在顶级期刊上的 70 篇实证文章,首次对散户投资者在可持续投资背景下的决策过程进行了全面综述,填补了现有文献中的一个重要空白。利用 "前因-决策-结果 "和 "理论-背景-方法"(ADO-TCM)组织框架,并结合消费者行为视角,我们揭示了影响投资选择的复杂动态。值得注意的是,虽然行为意图(60% 的文章)和实际投资决策(23%)经常被研究,但文献缺乏对投资后行为和决策后果的关注。尽管对消费者可持续投资的研究兴趣与日俱增,但文献主要关注高收入经济体(63%)。有趣的是,目前的研究采用了多种理论,但往往集中在少数几种主要理论上。本综述将 ADO-TCM 框架扩展到零售业可持续投资的具体环境中,强调消费者行为视角与现有金融理论的相互作用。本综述提供了一个全面的概述,并指出了研究空白,以指导该领域未来的探索。此外,研究结果还为政策制定者和金融服务提供商提供了可操作的见解,强调了选择架构影响消费者可持续投资决策的潜力。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
Cleaner and Responsible Consumption
Cleaner and Responsible Consumption Social Sciences-Social Sciences (miscellaneous)
CiteScore
4.70
自引率
0.00%
发文量
40
审稿时长
99 days
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信