Investigating the Impact of Financial Literacy on Sustainable Investment in India

Authors

  • Nitish Singhal Research Scholar, NICE School of Business Studies, Shobhit Institute of Engineering & Technology, Deemed to-be-University, Meerut
  • Dr. Anuj Goel Professor, NICE School of Business Studies, Shobhit Institute of Engineering & Technology, Deemed to-be-University, Meerut

Keywords:

Financial Literacy, Sustainable Investment, Investor Behavior, Economic Development

Abstract

a burgeoning area of interest in a rapidly evolving economic landscape. Employing a mixed-method research approach, including surveys and data analysis, we aim to uncover the extent to which financial literacy influences individual and institutional investment decisions towards sustainable ventures. Preliminary findings suggest a significant correlation between financial literacy levels and the propensity to engage in sustainable investments. This study not only sheds light on the critical role of financial education in shaping sustainable investment behaviors but also underscores the potential of informed investing in driving India's sustainable development goals. The implications of this research are far-reaching, offering valuable insights for investors, policymakers, and educators, as they collaboratively seek to enhance financial literacy and promote environmentally and socially responsible investment practices in India.

References

Ahamed, Dr. G. T., & Ahammed, T. Md. I. (2023). Revolutionizing investment: Exploring investor perceptions and attitudes towards impact investing in Hyderabad, India. International Journal of Research in Management, 5(2), 42–48. https://doi.org/10.33545/26648792.2023.v5.i2a.92

Cucinelli, D., & Soana, M. G. (2023). Investor preferences, financial literacy and intermediary choice towards sustainability. Research in International Business and Finance, 66, 102027. https://doi.org/10.1016/j.ribaf.2023.102027

D.A.T., K., Azam S. M., F., & Khalidah, S. (2020). The Impact of Financial Literacy on Women’s Economic Empowerment in Developing Countries: A Study Among the Rural Poor Women in Sri Lanka. Asian Social Science, 16(2), 31. https://doi.org/10.5539/ass.v16n2p31

Haleem, A. (2022). EXPLORING THE CRITICAL EFFECT OF FINANCIAL LITERACY ON SUSTAINABLE BUSINESS PERFORMANCE IN THE CONTEXT OF FIRM PERFORMANCE OF SMES IN SRI LANKA. 35.

Lotto, J. (2020). Towards Improving Households’ Investment Choices in Tanzania: Does Financial Literacy Really Matter? International Journal of Financial Studies, 8(2), 29. https://doi.org/10.3390/ijfs8020029

Pandey, A., Kiran, R., & Sharma, R. K. (2022). Investigating the Impact of Financial Inclusion Drivers, Financial Literacy and Financial Initiatives in Fostering Sustainable Growth in North India. Sustainability, 14(17), 11061. https://doi.org/10.3390/su141711061

Rana, P., Sarva, M., & Verma, B. (2023). Will Prosocial Behavior influence Intentions of Indian Investors to join Socially Responsible Investment? [Preprint]. In Review. https://doi.org/10.21203/rs.3.rs-3424983/v1

Raza, A., Tong, G., Erokhin, V., Bobryshev, A., Chaykovskaya, L., & Malinovskaya, N. (2023). Sustaining Performance of Wheat–Rice Farms in Pakistan: The Effects of Financial Literacy and Financial Inclusion. Sustainability, 15(9), 7045. https://doi.org/10.3390/su15097045

Sharma, A., & Johri, A. (2014). Learning and empowerment: Designing a financial literacy tool to teach long-term investing to illiterate women in rural India. Learning, Culture and Social Interaction, 3(1), 21–33. https://doi.org/10.1016/j.lcsi.2013.10.003

Thakur, D. S. (2022). AN EVALUATION OF THE IMPACT OF FINANCIAL LITERACY PROGRAMMES ON FINANCIAL DECISION-MAKING AND INVESTMENT DECISION-MAKING AMONG PARTICIPANTS. 20(2).

Thanki, H., Shah, S., Rathod, H. S., Oza, A. D., & Burduhos-Nergis, D. D. (2022). I Am Ready to Invest in Socially Responsible Investments (SRI) Options Only If the Returns Are Not Compromised: Individual Investors’ Intentions toward SRI. Sustainability, 14(18), 11377. https://doi.org/10.3390/su141811377

Ye, J., & Kulathunga, K. (2019). How Does Financial Literacy Promote Sustainability in SMEs? A Developing Country Perspective. Sustainability, 11(10), 2990. https://doi.org/10.3390/su11102990

Yucel, O., Celik, G., & Yilmaz, Z. (2023). Sustainable Investment Attitudes Based on Sustainable Finance Literacy and Perceived Environmental Impact. Sustainability, 15(22), 16026. https://doi.org/10.3390/su152216026

Downloads

Published

31-12-2023

How to Cite

Nitish Singhal, & Dr. Anuj Goel. (2023). Investigating the Impact of Financial Literacy on Sustainable Investment in India. International Journal for Research Publication and Seminar, 14(5), 112–1`21. Retrieved from https://jrps.shodhsagar.com/index.php/j/article/view/457