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Competitio

Vol. 24 No. 1-2 (2025)
Papers

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

Published:
2025-06-07
DOI Linkhttps://doi.org/10.21845/comp/2025/1-2/5
Authors
Orsolya Lili Lengyel,
Gábor Harangozo
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pdf (Hungarian)
Keywords
sustainability ESG investments theory of planned behaviour structural equation modelling (PLS-SEM)
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Copyright (c) 2025 Orsolya Lili Lengyel, Gábor Harangozó

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This work is licensed under a Creative Commons Attribution 4.0 International License.

How To Cite
Selected Style: APA
Lengyel, O. L., & Harangozo, G. (2025). Sustainability-focused investors? - Exploring the determinants of individual ESG investment intentions using structural equation modelling. Competitio, 24(1-2). https://doi.org/10.21845/comp/2025/1-2/5
Received 2025-02-24
Accepted 2025-04-04
Published 2025-06-07
Abstract

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.

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