Article thumbnail

Putting your money where your mouth is: a profile of ethical investors

By Diana Beal and Michelle Goyen


This research sougth to determine why people chose to invest in Earth Sanctuaries Limted (ESL), which conserves ecosystems and breeds endangered species as its corporate mission, an unequivocally ethical objective. Investors were surveyed to assess the relative importance of financial versus econlogical considerations. Demographic and investor behavior attributes of ESL shareholders were compared with those of Australian shareholders as reported by an Australian Stock Exchange survey. The results showed that the environmental mission of ESL took pre-eminence over financial considerations for these investors. Comparison of the two groups revealed significant differences in most variables

Topics: 350399 Banking, Finance and Investment not elsewhere classified
Publisher: Academy of Financial Services
Year: 1998
OAI identifier:

Suggested articles


  1. (1988). A descriptive study of social responsibility mutual funds. doi
  2. (1992). An exploration of ethical investment in the UK. doi
  3. (1997). Australian Ethical Trusts (AET).
  4. (1992). Bridging the gap between green accounting and black ink. doi
  5. (1997). Business research methods (Sth ed.). Fort Worth:
  6. (1995). Corporations' misguided obsession with shareholder wealth.
  7. (1997). Earth Sanctuaries Limited (ESL).
  8. (1990). Ethical funds--No bar to profit. Accountancy,
  9. (1984). Ethical investing. doi
  10. (1997). Ethical investment.
  11. (1997). Exchange (ASX) doi
  12. (1994). Factors influencing individual investor behaviour. doi
  13. (1996). Is there a cost in being socially responsible in investing? accessed 13/4/1998.
  14. (1997). Is there anything special about the social disclosures of ethical trust investees in Australia ?
  15. (1988). Methods towards a science of behaviour and experience.
  16. (1956). Nonparametric statistics for the behavioural sciences. Tokyo: McGraw-Hill Kogakusha.
  17. (1992). Paying to be good? U.K. ethical investments. doi
  18. (1997). report on responsible investing trends in the United States. http.// accessed 2/2/1998.
  19. (1991). Statistics for business: Data Analysis and modelling. doi
  20. (1996). The behaviour of agency costs relevant to visitation at national parks of southwestern Queensland. Economic Analysis and Policy,
  21. (1993). The ethical investor: Exploring dimensions of investment behaviour. doi
  22. (1995). The financial performance of ethical investment funds. doi
  23. (1989). The financial performance of ethical investments.
  24. (1997). The materiality of environmental information to users of annual reports. doi
  25. (1994). The performance of ethical unit trusts: Choosing an appropriate benchmark. doi
  26. (1995). The private cost of socially responsible investing. doi
  27. (1994). The role of accounting in ideological conflict: Lessons from the South African divestment movement. doi
  28. (1987). Thefield of social investment. doi
  29. (1974). Toward the development of client-specified valuation models. doi
  30. (1990). Towards a theory of social investment: A review essay. doi
  31. (1988). Towards ethical investment. Gateshead: Traidcraft Exchange.
  32. (1990). Using demographic and lifestyle analysis to segment individual investors. doi
  33. (1997). Vivisecting the anti-vivisectionist movement.
  34. (1998). What is ethical investment? -dei/what/html accessed 5/1/1998.

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.