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• Sustainability-focused investors? - Exploring the determinants of individual ESG investment intentions using structural equation modelling

  Orsolya Lili Lengyel

  Gábor Harangozo

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  The aim of this study is to examine the determinants of individual ESG investment intentions. The own research model was developed by complementing Ajzen's theory of planned behaviour with literature-based approaches and adapting it to the topic. Based on the model, the relationships and the hypotheses were tested on a Hungarian sample of 228 participants using partial least squares structural equation modelling (PLS-SEM). Both the research model and the methodology used are novel in the context of this study.

  The results suggest that both general and sustainability-focused investment attitudes positively influence ESG investment intentions. Subjective norms related to ESG investment and a sense of self-efficacy also support ESG investment intention. Moreover, it can be said that women's ESG investment attitudes and intentions are higher than in case of men. The results can contribute to the better understanding of the factors underlying individual ESG investment intentions, especially in the domestic context.

  JEL codes: D12, Q56, Q58.