Socially responsible investment in Malaysia: behavioral framework in evaluating investors' decision making process

The results based on a questionnaire survey of Malaysian investors suggest that attitude, subjective norms and moral norms have positive effect on intention which in turn positively affects behavior towards SRI. The relationship for attitude, subjective norms, and moral norms to behavior is improved significantly by intention as a mediator. Based on squared multiple correlations (R2), it is found that the final structural model could explain 46% of the variance in intention and 50% of the variance in behavior. SRI providers and policy makers should also consider the influence of social pressure from investors' friends and relatives in their SRI decision-making. Investors' personal standards are also found to influence the intention and behavior to invest in SRI.