Socially responsible investing in the European Union’s capital markets

Grażyna Michalczuk, Urszula Konarzewska



Motivation: The growing importance of the corporate social responsibility in the socio-economic sphere means that investors more and more often in their decision-making process include, alongside criteria of the effectiveness of invested capital, factors related to ecology, social development and corporate governance. This leads to diversification of the capital market in which, besides the traditional investing, socially responsible investing is becoming increasingly important.

Aim: The aim of the article is to identify the territorial diversification of socially responsible investments in the European Union’s capital markets in terms of value and investment strategies used, as well as to show the reasons for this diversity.

Results: The conducted analysis showed that more and more investors in the European Union base their decisions not only on financial parameters but also on social and environmental factors. However, this market is not homogenous. This applies to both the value and preferences regarding investments strategy. A significant impact on this diversity has the level of implementation of specific legislative solutions creating favourable conditions for the development of socially responsible investing.


socially responsible investing; socially responsible investing strategies; capital market

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