TY - JOUR
T1 - Drivers of Socially Responsible Investing
T2 - A Case Study of Four Nordic Countries
AU - Scholtens, Bert
AU - Sievänen, Riikka
PY - 2013/7
Y1 - 2013/7
N2 - In this study, we try to establish what determines the substantial differences in the Nordic countries' size and composition of socially responsible investing (SRI). We investigate if these differences between Denmark, Finland, Norway, and Sweden can be associated with key characteristics in economics, finance, culture, and institutions. We find that in particular economic openness, the size of the pension industry, and cultural values of masculinity (femininity) and uncertainty avoidance can be associated with the differences in SRI in the four countries. On basis of these findings, we lay foundations for an international theory of SRI.
AB - In this study, we try to establish what determines the substantial differences in the Nordic countries' size and composition of socially responsible investing (SRI). We investigate if these differences between Denmark, Finland, Norway, and Sweden can be associated with key characteristics in economics, finance, culture, and institutions. We find that in particular economic openness, the size of the pension industry, and cultural values of masculinity (femininity) and uncertainty avoidance can be associated with the differences in SRI in the four countries. On basis of these findings, we lay foundations for an international theory of SRI.
KW - Culture
KW - Economics
KW - Finance
KW - Institutions
KW - Nordic countries
KW - Socially responsible investments
UR - http://www.scopus.com/inward/record.url?scp=84880057219&partnerID=8YFLogxK
U2 - 10.1007/s10551-012-1410-7
DO - 10.1007/s10551-012-1410-7
M3 - Article
AN - SCOPUS:84880057219
SN - 0167-4544
VL - 115
SP - 605
EP - 616
JO - Journal of Business Ethics
JF - Journal of Business Ethics
IS - 3
ER -