Intergenerational Transmission of Pro-Social Values: Socially Responsible Investment Among Parents and Adult Children

30 Pages Posted: 7 Oct 2015

See all articles by Jörgen Hellström

Jörgen Hellström

Umeå University - Umeå School of Business and Economics

Nicha Lapanan

University of Umea

Rickard Olsson

University of Umea

Date Written: October 5, 2015

Abstract

Novel evidence on the transmission of pro-social values from parents to individuals is provided by the finding of a positive correlation between parental and individuals subsequent investments in socially responsible mutual funds. Although captured parental-individual correlations reflect contemporary relationships, they reveal potentially important insight into the origin of heterogeneity in individuals’ pro-social behavior. Consistent with research on socialization, the results imply an influence from both parents, stronger for mothers, and reinforced for parents agreeing in pro-social values, i.e. for individuals’ with both parents investing in socially responsible mutual funds. Parental resources during individuals’ adolescent (financial and parental life experience) are further found to significantly explain individuals’ adult pro-social investment behavior. The results are robust towards conditioning upon a number of alternative explanations.

Keywords: Social preferences, individual investor behavior, socialization, sustainable investing, socially responsible mutual funds

Suggested Citation

Hellström, Jörgen and Lapanan, Nicha and Olsson, Rickard, Intergenerational Transmission of Pro-Social Values: Socially Responsible Investment Among Parents and Adult Children (October 5, 2015). Available at SSRN: https://ssrn.com/abstract=2669483 or http://dx.doi.org/10.2139/ssrn.2669483

Jörgen Hellström

Umeå University - Umeå School of Business and Economics ( email )

Umea, 90187
Sweden
+46-90-7866987 (Phone)

HOME PAGE: http://www.usbe.umu.se/english/about/staff/?languageId=1&uid=johe0001

Nicha Lapanan (Contact Author)

University of Umea ( email )

Rickard Olsson

University of Umea ( email )

Samhallsvetarhuset, Plan 2
Umea University
Umeå, SE 901 87
Sweden
+46 907865166 (Phone)
+46 907866674 (Fax)

Register to save articles to
your library

Register

Paper statistics

Downloads
32
Abstract Views
294
PlumX Metrics