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Socially Responsible Investments Among Parents and Adult Children
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.
(English)In: European Economic Review, ISSN 0014-2921, E-ISSN 1873-572XArticle in journal (Refereed) Accepted
Abstract [en]

Novel evidence is provided of a positive correlation between parents’ and their children’s socially responsible mutual fund investment behavior. Although captured parent-child correlations reflect contemporary relationships, they reveal potentially important insight into the origin of heterogeneity in individuals’ prosocial behavior. Consistent with research on socialization, the results suggest an influence from both parents, stronger for mothers, and reinforced for parents both investing in socially responsible mutual funds. Parental resources during an individual’s adolescence (financial and parental life experience) are further found to significantly explain individuals’ adult prosocial investment behavior. The results are robust to conditioning on a number of alternative explanations.

Place, publisher, year, edition, pages
Elsevier.
Keywords [en]
Social responsible investment, intergenerational, socialization, mutual funds
National Category
Business Administration Economics
Research subject
Business Studies
Identifiers
URN: urn:nbn:se:umu:diva-164107OAI: oai:DiVA.org:umu-164107DiVA, id: diva2:1360967
Funder
The Jan Wallander and Tom Hedelius Foundation, P2015-0223:1Available from: 2019-10-14 Created: 2019-10-14 Last updated: 2019-10-14

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Hellström, JörgenLapanan, NichaOlsson, Rickard

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