Green bonds: A demographic study of Retail Investors in India

IF 3.1 3区经济学 Q1 ECONOMICS

Quarterly Review of Economics and Finance Pub Date : 2025-03-11 DOI:10.1016/j.qref.2025.101991

Shalini Aggarwal , Farhat Aziz Lone , Manisha Paliwal

{"title":"Green bonds: A demographic study of Retail Investors in India","authors":"Shalini Aggarwal , Farhat Aziz Lone , Manisha Paliwal","doi":"10.1016/j.qref.2025.101991","DOIUrl":null,"url":null,"abstract":"<div><div>The primary objective of this study is to investigate the impact of age, gender, education, occupation, investment experience, and income allocation on the perception of retail investor towards investment in green bond. Also, the study analyse the impact of three notable factors i.e. Environmental consciousness (EC), Concern for well being (CWB), Religious value and commitment (RVC) on Green bonds investor intention (GBII). Overall, the study used a descriptive research design, collected data from primary and secondary sources. Descriptive statistics, ANOVA, and the correlation test were used to investigate the factors influencing investors' perceptions of green bond investments. PLS SEM is used to analyse the impact of EC, CWB and RVC on GBII. It had a sample size of 406 respondents. The findings indicate a significant gender disparity among green bond investors. The majority of investors are men (343), while only a small percentage of women (63) participate in this market. This gender bias calls for targeted initiatives to encourage greater female participation and ensure a more inclusive and diverse investor base. The present study will help fund managers, brokers, companies, and policymakers in understanding retail investors' perceptions of GBs. It will also provide valuable insights for policymakers to make informed decisions about GB regulations and strategies.</div></div>","PeriodicalId":47962,"journal":{"name":"Quarterly Review of Economics and Finance","volume":"102 ","pages":"Article 101991"},"PeriodicalIF":3.1000,"publicationDate":"2025-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Quarterly Review of Economics and Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1062976925000328","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}

引用次数: 0

Abstract

The primary objective of this study is to investigate the impact of age, gender, education, occupation, investment experience, and income allocation on the perception of retail investor towards investment in green bond. Also, the study analyse the impact of three notable factors i.e. Environmental consciousness (EC), Concern for well being (CWB), Religious value and commitment (RVC) on Green bonds investor intention (GBII). Overall, the study used a descriptive research design, collected data from primary and secondary sources. Descriptive statistics, ANOVA, and the correlation test were used to investigate the factors influencing investors' perceptions of green bond investments. PLS SEM is used to analyse the impact of EC, CWB and RVC on GBII. It had a sample size of 406 respondents. The findings indicate a significant gender disparity among green bond investors. The majority of investors are men (343), while only a small percentage of women (63) participate in this market. This gender bias calls for targeted initiatives to encourage greater female participation and ensure a more inclusive and diverse investor base. The present study will help fund managers, brokers, companies, and policymakers in understanding retail investors' perceptions of GBs. It will also provide valuable insights for policymakers to make informed decisions about GB regulations and strategies.

查看原文本刊更多论文

绿色债券：印度散户投资者的人口统计研究

本研究的主要目的是探讨年龄、性别、教育程度、职业、投资经验和收入分配对散户投资者绿色债券投资认知的影响。此外，研究还分析了环境意识（EC）、福祉关怀（CWB）、宗教价值和承诺（RVC）三个显著因素对绿色债券投资者意向（GBII）的影响。总体而言，本研究采用描述性研究设计，从一手和二手来源收集数据。运用描述性统计、方差分析及相关检验，探讨影响投资者对绿色债券投资认知的因素。利用PLS扫描电镜分析了EC、CWB和RVC对GBII的影响。该调查的样本量为406人。研究结果表明，绿色债券投资者存在显著的性别差异。大多数投资者是男性（343人），而只有一小部分女性（63人）参与这个市场。这种性别偏见要求采取有针对性的举措，鼓励更多女性参与，确保投资者基础更加包容和多样化。本研究将有助于基金经理、经纪人、公司和政策制定者理解散户投资者对国债的看法。它还将为决策者就GB法规和战略做出明智的决策提供有价值的见解。

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

Quarterly Review of Economics and Finance ECONOMICS-

CiteScore

6.00

自引率

2.90%

发文量

118

期刊介绍： The Quarterly Review of Economics and Finance (QREF) attracts and publishes high quality manuscripts that cover topics in the areas of economics, financial economics and finance. The subject matter may be theoretical, empirical or policy related. Emphasis is placed on quality, originality, clear arguments, persuasive evidence, intelligent analysis and clear writing. At least one Special Issue is published per year. These issues have guest editors, are devoted to a single theme and the papers have well known authors. In addition we pride ourselves in being able to provide three to four article "Focus" sections in most of our issues.