Intergenerational transmission of prosocial values : socially responsible investment among parents and adult children

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

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Business Administration (hsv//eng)

Nyckelord

social preferences

individual investor

socialization

socially responsible investing

mutual funds

Publikations- och innehållstyp

vet (ämneskategori)

ovr (ämneskategori)