Work

Exploring the psychology behind sustainable investment choices in ESG markets

Year: 2026

Type: article

Abstract: This study examines psychological determinants of sustainable investment behavior among Indonesian ESG investors. Survey data from 180 individual investors were analyzed using PLS-SEM to test the relationships between investor attitude, belief, and perception with perceived return and sustainable investment behavior. Results show that perception and belief significantly influence perceived return and investment behavior, while attitude does not. Perceived return mediates the link between cognitive factors and behavior, highlighting the role of rational expectations and belief-based confidence in ESG investment. The findings emphasize the importance of transparent ESG disclosure for bridging the attitude–behavior gap in practice.

Source: Discover Sustainability

DOI: 10.1007/s43621-026-03393-5

Authors: Anna Sofia Atichasari, Rudi Zulfikar, Lia Uzliawati, Windu Mulyasari

Institution: Sultan Ageng Tirtayasa University

Language: English

Topic: Sustainable Finance and Green Bonds

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: gold

Estimated APC paid: $1,390

OpenAlex ID: W7171308638

FWCI:

Cites:

Cited by:

Related to: