Psychological Drivers of ESG Investment in the Polymer Sector

Notice

This is an unedited manuscript accepted for publication and provided as an Article in Press for early access at the author’s request. The article will undergo copyediting, typesetting, and galley proof review before final publication. Please be aware that errors may be identified during production that could affect the content. All legal disclaimers of the journal apply.

Year : 2026 | Volume : 14 | 04 | Page :
By

Moupiya Bose,

Suparna Biswas Goswami,

  1. Assistant Professor, Department of Management, Brainware University, West Bengal, India
  2. Assistant Professor, Department of Management, Brainware University, West Bengal, India

Abstract

This research will delve into the mentalities of investors concerning investments in polymer ESG projects. Sustainable investing has become very popular in recent times across the globe. At the same time, the polymer or plastic industry is encountering numerous environmental issues. Plastics make up some 3.3–4.5% of global emissions of greenhouse gases (≈1.8 billion tonnes per year, TPI), and only about 9% of the total production of 400 million tonnes is recycled. These obstacles make it very “feared” for investors to ESG-profile polymer firms. Using the theories of behavioral finance and the theory of planned behavior, the study comes up with the above-listed six constructs to describe investor psychology: environmental concern, social responsibility orientation, ethical beliefs, risk perception, trust in ESG information, and financial literacy. The influence of these variables on the construct of investment intention in ESG investments was examined by using survey-based SEM. The findings demonstrate that environmental concern, social responsibility, trust in ESG information, ethical beliefs, and financial literacy positively affected the ESG investment intention, and perceived risk has a negative impact on ESG investment intention. Practical implications involve tips for both investors and policymakers and polymer This research will delve into the mentalities of investors concerning investments in polymer ESG projects.companies on how to take advantage of the psychological motivators for sustainable finance. -profile.

Keywords: ESG Investment, Psychological Drivers, Polymer Sector, Structural Equation Modeling (SEM), Investor Behaviour, Sustainable Finance

How to cite this article: Moupiya Bose, Suparna Biswas Goswami. Psychological Drivers of ESG Investment in the Polymer Sector. Journal of Polymer & Composites. 2026; 14(04):-.
How to cite this URL: Moupiya Bose, Suparna Biswas Goswami. Psychological Drivers of ESG Investment in the Polymer Sector. Journal of Polymer & Composites. 2026; 14(04):-. Available from: https://journals.stmjournals.com/jopc/article=2026/view=251948

References

  1. Afeef M, Kakakhel SJ. ESG factors and their influence on the investment behavior of individual investor: A case from Pakistan. Int J Bus Manag Sci. 2022;3(3):21-45.
  2. Ajzen I. The theory of planned behavior. Organ Behav Hum Decis Process. 1991;50(2):179-211.
  3. Akter S, Fosso Wamba S, Dewan S. Why PLS-SEM is suitable for complex modelling? An empirical illustration in big data analytics quality. Prod Plann Control. 2017;28(11-12):1011-1021.
  4. Chang X, Fu K, Jin Y, Liem PF. Sustainable finance: ESG/CSR, firm value, and investment returns. Asia Pac J Financ Stud. 2022;51(3):325-371.
  5. De Spiegeleer J, Höcht S, Jakubowski D, Reyners S, Schoutens W. ESG: A new dimension in portfolio allocation. J Sustain Finance Invest. 2023;13(2):827-867.
  6. Franz AW, Buchholz S, Albach RW, Schmid R. Towards greener polymers: Trends in the German chemical industry. Green Carbon. 2024;2(1):33-44.
  7. Freeman RE. Strategic management: A stakeholder approach. Boston (MA): Pitman; 1984.
  8. Giakoumelou A, Salvi A, Bertinetti GS, Micheli AP. 2008’s mistrust vs 2020’s panic: Can ESG hold your institutional investors? Manage Decis. 2022;60(10):2770-2785.
  9. Goel P, Mishra R, Kumar V. ESG investments, a sustainable option: A study of intention and behaviour of Indian retail investors. Pac Bus Rev Int. 2024;16(12).
  10. Goyal P, Gupta P, Yadav V. Antecedents to heuristics: Decoding the role of herding and prospect theory for Indian millennial investors. Rev Behav Finance. 2023;15(1):79-102.
  11. Hair JF, Risher JJ, Sarstedt M, Ringle CM. When to use and how to report the results of PLS-SEM. Eur Bus Rev. 2019;31(1):2-24.
  12. Jonwall R, Gupta S, Pahuja S. Socially responsible investment behavior: A study of individual investors from India. Rev Behav Finance. 2023;15(6):865-888.
  13. Kahneman D, Tversky A. Prospect theory: An analysis of decision under risk. In: Handbook of the fundamentals of financial decision making: Part I. Amsterdam: Elsevier; 2013. p. 99-127.
  14. Kräussl R, Oladiran T, Stefanova D. A review on ESG investing: Investors’ expectations, beliefs and perceptions. J Econ Surv. 2024;38(2):476-502.
  15. Kurowski Ł, Rutecka-Góra J, Smaga P. Promoting environmentally and socially responsible investing: Interplay between climate and financial literacy. Clim Policy. 2026;26(3):431-446.
  16. Paju S, Lievonen M. Beyond compliance: Strategic ESG communication and trust-building in investor relations [doctoral dissertation]. Jyväskylä (Finland): University of Jyväskylä; 2025.
  17. Rajmohan KVS, Ramya C, Viswanathan MR, Varjani S. Plastic pollutants: Effective waste management for pollution control and abatement. Curr Opin Environ Sci Health. 2019;12:72-84.
  18. Raut RK, Shastri N, Mishra AK, Tiwari AK. Investor’s values and investment decision towards ESG stocks. Rev Account Finance. 2023;22(4):449-465.
  19. Rounok N, Qian A, Alam MA. The effects of ESG issues on investment decision through corporate reputation: Individual investors’ perspective. Int J Res Bus Soc Sci. 2023;12(2).
  20. Sachse K, Jungermann H, Belting JM. Investment risk—The perspective of individual investors. J Econ Psychol. 2012;33(3):437-447.
  21. Samsuri A, Ismiyanti F, Narsa IM. Effects of risk tolerance and financial literacy to investment intentions. Int J Innov Creat Change. 2019;10(9):40-54.
  22. Senaya GM. Financial literacy and its role in promoting sustainable investment. World J Adv Res Rev. 2024;24(1):212-232.
  23. Sheehan NT, Vaidyanathan G, Fox KA, Klassen M. Making the invisible, visible: Overcoming barriers to ESG performance with an ESG mindset. Bus Horiz. 2023;66(2):265-276.
  24. Shefrin H. ESG and behavioral finance: Why ESG investing is primarily a psychological phenomenon. J Invest. 2024;33(5):7-33.
  25. Shoeib M, Soltani S, Shooshtari MT. From behavior to performance: Exploring the link between individual financial literacy, risk perception, and investment decisions. Int J Ind Eng Oper Res. 2025;7(1):71-89.
  26. Sood K, Pathak P, Jain J, Gupta S. How does an investor prioritize ESG factors in India? An assessment based on fuzzy AHP. Manag Finance. 2023;49(1):66-87.
  27. Thomas J, Patil RS, Patil M, John J. Addressing the sustainability conundrums and challenges within the polymer value chain. Sustainability. 2023;15(22):15758.
  28. Tversky A, Kahneman D. Advances in prospect theory: Cumulative representation of uncertainty. J Risk Uncertain. 1992;5(4):297-323.
  29. Zhang X, Huang CH. Investor characteristics, intention toward socially responsible investment (SRI), and SRI behavior in Chinese stock market: The moderating role of risk propensity. Heliyon. 2024;10(14).
  30. Md Husin M, Aziz S, Bhatti T. The impact of brand familiarity, perceived trust and attitude on investors’ decision-making in Islamic stock market. J Islam Mark. 2023;14(8):2009-2026.
  31. Ayrilmis N, Kanat G, Yildiz Avsar E, Palanisamy S, Ashori A. Utilizing waste manhole covers and fibreboard as reinforcing fillers for thermoplastic composites. J Reinf Plast Compos. 2025;44(17-18):1108-1118. doi:10.1177/07316844241238507.
  32. Almeshaal M, Palanisamy S, Murugesan TM, Palaniappan M, Santulli C. Physico-chemical characterization of Grewia monticola Sond fibers for prospective application in biocomposites. J Nat Fibers. 2022;19(17):15276-15290. doi:10.1080/15440478.2022.2123076.
  33. Palanisamy S, Mayandi K, Palaniappan M, Alavudeen A, Rajini N, Vannucchi de Camargo F, Santulli C. Mechanical properties of Phormium tenax reinforced natural rubber composites. Fibers. 2021;9(2):11. doi:10.3390/fib9020011.
  34. Ramasubbu R, Kayambu A, Palanisamy S, Ayrilmis N. Mechanical properties of epoxy composites reinforced with Areca catechu fibers containing silicon carbide. BioResources. 2024;19(2).
Ahead of Print Subscription Original Research
Volume 14
04
Received 10/06/2026
Accepted 18/07/2026
Published 08/08/2026
Publication Time 59 Days

Login

My IP

PlumX Metrics