Investors’ intention toward green investment: an extension of the theory of planned behavior

Author:

Hemdan WaleedORCID,Zhang Jian

Abstract

PurposeThis study investigates how to motivate behavioral intentions toward green investment (BIGI) with the moderating effect of social media platforms usage (SMPU) among individual investors in Egypt.Design/methodology/approachThe study used partial least squares structural equation modeling (PLS-SEM) to analyze the data and test hypotheses based on a sample of 550 individual investors with investment experience.FindingsThe results show that attitude, subjective norm (SN), and perceived behavioral control (PBC) have a significant relationship with investors' behavioral intention toward green investment. The moderating effect of (SMPU) supported the relationship between (SN), (PBC), and (BIGI), but (SMPU) does not support the relationship between attitude and (BIGI).Practical implicationsThis study provides some implications for investment providers, service providers, and policymakers.Originality/valueDespite the increasing global interest in climate change and its consequent opportunities and challenges for business, previous studies did not strongly emphasize green investment. So, based on the theory of planned behavior (TPB), this study sheds light on the motivational factors that may push investors' behavioral intentions toward green investment. With the increasing interest in digital transformation, the study also examined how digital platforms support (BIGI), especially in Egypt as a developing country.

Publisher

Emerald

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