The ethical investor: Exploring dimensions of investment behaviour

Paul Anand, Christopher Cowton

Research output: Contribution to journalArticlepeer-review

62 Citations (Scopus)


Finance theory conventionally focuses on risk and return as the factors relevant to the construction of investment portfolios. But there is evidence of a growing number of investors who wish to incorporate moral or social concerns in their decision-making. Using principal components analysis, this paper attempts to infer possible ‘non-financial’ dimensions of utility functions by considering the preferences of 125 ‘ethical investors’.
Original languageEnglish
Pages (from-to)377-385
JournalJournal of Economic Psychology
Issue number2
Publication statusPublished - 1993
Externally publishedYes


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