Preferences of Individual Investors from
Different Generations in Poland in Terms
of Socially Responsible Investments
Dorota Krupa, Leszek Dziawgo, and Michal Buszko
Abstract The purpose of this chapter is to present the approach and attitude of
different generations of individual investors to socially responsible investments on
the financial market in Poland. We use critical analysis of literature, statistical data
analysis, as well as description and comparison methods. The study shows that there
are differences between individual investors with different generations (Baby
boomers, Generation X, and Generation Y) in their approach and attitude to social
responsibility in the financial market. The Baby Boomer Generation is more likely to
declare a socially responsible attitude when making investment decisions compared
to younger generations.
Keywords Behavioral finance · Corporate social responsibility · Socially
responsible investment · Individual investor · Generations · Financial market ·
Poland
1 Introduction
The issues of social responsibility in the context of the functioning of companies as
well as the investment in the financial market have become of particular interest after
the recent financial crisis in 2008. Both, Corporate Social Responsibility (CSR) and
Socially Responsible Investments (SRIs) have been the subject of research in recent
years. Fordham and Robinson (2018) underline that Corporate Social Responsibility
(CSR) can be applied as a theory, research agenda, or idea. According to Blowfield
(2005), CSR is a concept that captures the responsibility of business to the environ-
ment, its stakeholders, and to the broader society. The key impact on the develop-
ment of corporate social responsibility is the detection of dishonest practices among
companies that led to increased vigilance and greater sensitivity to corporate
D. Krupa (*) · L. Dziawgo · M. Buszko
Department of Finance Management, Nicolaus Copernicus University in Torun, Torun, Poland
e-mail: Dkrupa@umk.pl; Ldziawgo@umk.pl; Mibus@umk.pl
© The Editor(s) (if applicable) and The Author(s), under exclusive licence to
Springer Nature Switzerland AG 2020
M. H. Bilgin et al. (eds.), Eurasian Economic Perspectives, Eurasian Studies in
Business and Economics 14/1, https://doi.org/10.1007/978-3-030-53536-0_13
179