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

Hellström, Jörgen (author)
Umeå universitet,Företagsekonomi,Finance
Lapanan, Nicha, 1987- (author)
Umeå universitet,Företagsekonomi,Finance
Olsson, Rickard (author)
Umeå universitet,Företagsekonomi,Finance
 (creator_code:org_t)
English.
  • Other publication (other academic/artistic)
Abstract Subject headings
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  • 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.

Subject headings

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
SOCIAL SCIENCES  -- Economics and Business -- Business Administration (hsv//eng)

Keyword

social preferences
individual investor
socialization
socially responsible investing
mutual funds

Publication and Content Type

vet (subject category)
ovr (subject category)

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