Managerial Finance

, volume 49 , issue 1 , pages 66-87

How does an investor prioritize ESG factors in India? An assessment based on fuzzy AHP

Kirti Sood ¹

Prachi Pathak ¹

Jinesh Jain ²

Sanjay Gupta ²

Hide authors affiliations Show authors affiliations: 2 affiliations

Department of School of Management, Doon University, Dehradun, India |

Department of Commerce and Management, Sri Aurobindo College of Commerce and Management, Ludhiana, India |

Publication type: Journal Article

Publication date: 2022-08-09

Emerald

Managerial Finance

scimago Q2

wos Q2

SJR: 0.546

CiteScore: 4.1

Impact factor: 2.2

ISSN: 03074358, 17587743

DOI: 10.1108/mf-04-2022-0162

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Finance

Business, Management and Accounting (miscellaneous)

Abstract

Purpose

The primary objective of the study is to discover the most prominent criteria and sub-criteria among environmental issues, social dimensions and corporate governance factors that may impact individual equity investors' investment decisions.

Design/methodology/approach

The present study collected data from 438 individual equity investors from the North Indian region. To achieve the objectives of the study, a fuzzy analytic hierarchy process (Fuzzy AHP) was applied. The key considerations of the study were environmental, social and governance (ESG) factors.

Findings

The governance criterion was discovered to be the most significant factor influencing individual equity investors' investment decisions among the three ESG factors, followed by environmental criteria, while social criteria were shown to be the least influential.

Research limitations/implications

The present study solely looked at ESG issues as drivers of stock investors' investment decisions. In the current world, however, many other factors, including behavioral biases, accounting information, ownership structure and fundamental analysis, can have a substantial influence on investors' investment decisions.

Practical implications

The study's findings widen the theoretical contribution in the field of responsible investment by asserting how ESG factors influence investors' investment decisions in the equity market. From a practical standpoint, this study applies to retail and institutional investors, portfolio managers, financial advisors, market regulators, corporations and society at large.

Originality/value

To the best of authors knowledge, no attempt has been made to prioritize the ESG issues that impact the investment decisions of individual equity investors. Ergo, this study contributes to the existing literature on socially responsible investment.

Found

2 citations

Gupta Sanjay

51 publications, 847 citations, 136 reviews

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GOST |

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GOST Copy

Sood K. et al. How does an investor prioritize ESG factors in India? An assessment based on fuzzy AHP // Managerial Finance. 2022. Vol. 49. No. 1. pp. 66-87.

GOST all authors (up to 50) Copy

Sood K., Pathak P., Jain J., Gupta S. How does an investor prioritize ESG factors in India? An assessment based on fuzzy AHP // Managerial Finance. 2022. Vol. 49. No. 1. pp. 66-87.

RIS |

Cite this

RIS Copy

TY - JOUR

DO - 10.1108/mf-04-2022-0162

UR - https://www.emerald.com/insight/content/doi/10.1108/MF-04-2022-0162/full/html

TI - How does an investor prioritize ESG factors in India? An assessment based on fuzzy AHP

T2 - Managerial Finance

AU - Sood, Kirti

AU - Pathak, Prachi

AU - Jain, Jinesh

AU - Gupta, Sanjay

PY - 2022

DA - 2022/08/09

PB - Emerald

SP - 66-87

IS - 1

VL - 49

SN - 0307-4358

SN - 1758-7743

ER -

BibTex |

Cite this

BibTex (up to 50 authors) Copy

@article{2022_Sood,

author = {Kirti Sood and Prachi Pathak and Jinesh Jain and Sanjay Gupta},

title = {How does an investor prioritize ESG factors in India? An assessment based on fuzzy AHP},

journal = {Managerial Finance},

year = {2022},

volume = {49},

publisher = {Emerald},

month = {aug},

url = {https://www.emerald.com/insight/content/doi/10.1108/MF-04-2022-0162/full/html},

number = {1},

pages = {66--87},

doi = {10.1108/mf-04-2022-0162}

}

MLA

Cite this

MLA Copy

Sood, Kirti, et al. “How does an investor prioritize ESG factors in India? An assessment based on fuzzy AHP.” Managerial Finance, vol. 49, no. 1, Aug. 2022, pp. 66-87. https://www.emerald.com/insight/content/doi/10.1108/MF-04-2022-0162/full/html.

Publisher

Emerald

Journal

Managerial Finance

scimago Q2

wos Q2

SJR

0.546

CiteScore

4.1

Impact factor

2.2

ISSN

03074358 (Print)

17587743 (Electronic)

Profiles

Sanjay Gupta