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AuthorRooh, Samina
AuthorEl-Gohary, Hatem
AuthorKhan, Imran
AuthorAlam, Sayyam
AuthorShah, Syed Mohsin Ali
Available date2024-04-04T05:54:26Z
Publication Date2023
Publication NameJournal of Risk and Financial Management
ResourceScopus
ISSN19118074
URIhttp://dx.doi.org/10.3390/jrfm16120500
URIhttp://hdl.handle.net/10576/53891
AbstractThe present study investigates the decision-making process of investors on the Pakistan Stock Exchange with regard to portfolio construction, explicitly focusing on the incorporation of ESG concerns. A quantitative research approach has been implemented for this paper. The hypotheses have been developed and tested through the adapted questionnaires. The data were collected from individual Pakistani investors. The present study employed SmartPLS-SEM to quantitatively assess data received from a sample of 421 out of 500 respondents. Based on the available data, investors participating in the Pakistan Stock Exchange are notably impacted by ESG aspects. The findings of this study hold significance for emerging economy firms, regulators, and investors, in terms of both theoretical and practical ramifications. The study's findings demonstrate a clear indication of investors' significant emphasis on ESG matters. This research made a significant contribution to the field of behavioural finance with a focus on ESG-related issues. This work contributes to the literature on ESG elements by using the Theory of Planned Behaviour (TPB) to adapt the ESG components from the United Nations Global Compact (UNGC) and Thomson Reuters Corporate Responsibility Index (TRCRI). Furthermore, it provides valuable insights for stakeholders who are involved in the ever-evolving realm of sustainable finance within developing countries.
Languageen
PublisherMultidisciplinary Digital Publishing Institute (MDPI)
SubjectEnvironmental, Social, and Governance (ESG)
individual investor's behavioural factors
Theory of Planned Behaviour (TPB)
TitleAn Attempt to Understand Stock Market Investors' Behaviour: The Case of Environmental, Social, and Governance (ESG) Forces in the Pakistani Stock Market
TypeArticle
Issue Number12
Volume Number16
dc.accessType Open Access


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