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2 Pages Posted: 1 Aug 2022 Last revised: 19 Oct 2022
Date Written: July 24, 2022
Abstract
New generations of investors, specifically Millennials and GenZ’ers, adopt a “throwing caution
to the wind” attitude to causing social and environmental change. They know that they can
make an impact on the Planet and on the life of people. They know that they can achieve that
only if they act collectively, not as stand-alone individuals. They know how to coordinate their
collective action online. These new generations of investors are aware of the benefits and the
risks that the corporate sector generates. They are aware of the power of business corporations.
They are increasingly aware that they can leverage on the corporate sector and on the power of
business corporations to bring change in society and protect the planet. Millennials and
GenZ’ers know that they only have one life span to make change happen. This article discusses
how Millennials and GenZ’ers can accomplish their goal and cause a social norm shift with
respect to investing and corporate governance.
Keywords: retail investors, Millennials, GenZ, social norms, corporate governance, ESG, investing, YOLO, corporate purpose, stakeholders
JEL Classification: K2, K20, K22
Suggested Citation: Suggested Citation