Customer Satisfaction with Socially Responsible Investment Initiatives: The Influence of Perceived Financial and Non-Financial Quality
(English)In: Journal of Financial Services MarketingArticle in journal (Refereed) In press
During the last decade, socially responsible investment (SRI) initiatives have grown to become a mainstream financial service in many countries. However, to date, only a few studies focus on understanding the final investor of such initiatives. This paper focuses on one particularly overlooked aspect of socially responsible investment behavior; that of customer post-purchase satisfaction. A theoretical model of satisfaction with SRI profiled mutual funds is developed and tested. The results indicate that perceived financial performance of the SRI profiled mutual fund is the most important predictor of customer satisfaction. However, perceived environmental, social, and governance (ESG) performance also had a positive impact on satisfaction for the SRI mutual fund. Based on these results, it is argued that, although ESG quality is important to customers, marketers of SRI initiatives are advised to primarily focus on the conventional quality attributes such as financial performance, as a good ESG record alone is unlikely to generate customer satisfaction.
Customer satisfaction, perceived quality, socially responsible investment, mutual funds, financial performance
IdentifiersURN: urn:nbn:se:umu:diva-94783OAI: oai:DiVA.org:umu-94783DiVA: diva2:756271