Do we walk the talk?

: Analysing sustainable consumer behaviour and investment decisions through the lens of the theory of planned behaviour

Abstract

This thesis examines the relationship between sustainable consumer behaviour and sustainable investment behaviour, exploring whether individuals who show sustainable consumption habits also extend these behaviours to their investment choices. To examines this relationship, the study applies the Theory of Planned Behaviour (TPB), studying the mediating effects of TPB components and the moderating influences of expected returns and willingness to waive return. The research questions and hypotheses were developed based on the literature review. Quantitative research via an online survey and SPSS analysis were used to explore the relationship. The findings reveal that sustainable consumer behaviour significantly influences sustainable investment behaviour and intentions. The TPB components mediate this relationship, with Subjective Norm having the strongest influence. The study verifies the applicability of the TPB in explaining the link between sustainable consumer behaviour and
investment choices. Additionally, it exposes the absence of a gap between sustainable investment intentions and actions. These results have implications for companies and investment advisors, suggesting targeted marketing to sustainable consumers and the development of specialized sustainable investment products. The study also contributes to academic research by improving our understanding of the TPB in the context of sustainable
investments and shedding light on potential future research directions. Overall, this research underscores the potential impact of sustainable consumers in shaping a more sustainable financial future.

Date of Award	19 Oct 2023
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Nuno Moreira da Cruz (Supervisor)