Abstract
This report describes investors’ decision-making related to environmental Socially Responsible Investment (SRI) by administering a questionnaire with virtual stock-selection conditions and information related to both financial and environmental performance. Our findings are as follows: First, prospect theory is not valid with decision-making over environmental achievement. Second, a person’s level of environmental consciousness has little effect on decision-making related to environmental performance. Third, four clusters with each different decision-making property were found using cluster analysis. Finally, significant differences were found in behaviors related to negative and positive financial performance. These findings are expected to be an aid in managing SRI funds, which requires consideration of both financial and social objectives.
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© 2012 Springer Science+Business Media Dordrecht
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Kihara, K., Nishino, N., Honda, T., Inaba, A. (2012). Cluster Analysis of Investment Behavior to Companies’ Environmental Activities with Questionnaire. In: Matsumoto, M., Umeda, Y., Masui, K., Fukushige, S. (eds) Design for Innovative Value Towards a Sustainable Society. Springer, Dordrecht. https://doi.org/10.1007/978-94-007-3010-6_38
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DOI: https://doi.org/10.1007/978-94-007-3010-6_38
Publisher Name: Springer, Dordrecht
Online ISBN: 978-94-007-3010-6
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