Assessing the Impact of Financial Literacy on Indian Retail Investors’ Intentions to Pursue Sustainable and Socially Responsible Investments: The Mediating Role of Social Self-Efficacy.

Namitha K Thambi; K Chandrasekar

doi:10.36948/ijfmr.2026.v08i04.83768

Assessing the Impact of Financial Literacy on Indian Retail Investors’ Intentions to Pursue Sustainable and Socially Responsible Investments: The Mediating Role of Social Self-Efficacy.

Author(s)	Ms. Namitha K Thambi, Dr. K Chandrasekar
Country	India
Abstract	In the framework of widening socio-economic inequalities and environmental concerns, this study examines the complex interlinkages between financial literacy (FL), social self-efficacy (SSE), and socially responsible investment (SRI) intentions. Following the theory of planned behaviour, a well-structured questionnaire was distributed among 397 Indian nationals to gather responses. Data was analysed using AMOS Structural Equation Modelling. The study also explores a number of salient issues such as how FL shapes positive attitudes toward IASRI and the mediating effect of SSE between FL and IASRI intention. The results indicate that FL affects significantly the creation of positive attitudes toward IASRI, which in turn influences investment behaviour. In addition, the current study provides evidence of dual mediation (processes) suggesting that SSE and IAISRI attitude exert a serial influence. Both fund managers and policy makers have the opportunity for beneficial outcomes from these results. That highlight the importance of tailoring communication to the cognitive and psychological disposition of the investor. Lastly, our study advances our understanding of the determinants of sustainable investment decisions and add to the overall debate of responsible investing.
Keywords	Financial Literacy, Retail Investors, Socially Responsible Investments, Social Self Efficacy, Sustainable Investments.
Field	Sociology > Banking / Finance
Published In	Volume 8, Issue 4, July-August 2026
Published On	2026-07-15
DOI	https://doi.org/10.36948/ijfmr.2026.v08i04.83768

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Assessing the Impact of Financial Literacy on Indian Retail Investors’ Intentions to Pursue Sustainable and Socially Responsible Investments: The Mediating Role of Social Self-Efficacy.

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