FACTORS THAT ENCOURAGE MILLENNIALS TO INVEST IN SUSTAINABLE INVESTMENTS IN MALAYSIA
List of Authors
  • , FARAH NUR SHAHIRAH KOLEK, FARAH NUR SHAHIRAH KOLEK , NURASYIKIN JAMALUDIN, NURASYIKIN JAMALUDIN , WAN ZALANI @ ZANANI WAN ABDULLAH

Keyword
  • Sustainable investment, theory of planned behaviour, millennials

Abstract
  • Sustainable investment, also known as socially responsible investment, has received growing attention in recent years as a process of integrating non-financial approaches like environment, social and governance (ESG) into investment decisions. The aim of this study is to investigate factors that encourage millennials (those born between 1980 and 1996) to invest in sustainable investments. Independent variables from the Theory of Planned Behaviour (attitude, subjective norms and perceived behavioural control), together with financial knowledge and religious values, are utilised. Using a convenience sampling method, an online survey was conducted among 150 respondents aged between 21 and 40. Regression analysis showed that attitude has significant effect on the millennials’ sustainable investment behaviour. Meanwhile, subjective norms, perceived behavioural control, religious values and financial knowledge are not significant in encouraging millennials to participate in sustainable investments. The study suggests that fund managers might want to embrace strategies that integrate ESG aspects to attract the younger generation in pursuing financial returns and bringing a positive impact to society.

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