Spanish investors' characterization: the influence of socially responsible investment

In this study a proposal is presented in order to analyze the individual investors' behaviour with regard to the investment decision based on social responsibility criteria, establishing a classification of investors in Rational, Universal and Social investors. Specifically, the paper deals with the relative influence of risk and financial performance, taking into account the investors' socio-demographic characteristics. From an online survey conducted in Spain in 2009 and the results of a Multiple Factor Analysis, a characterization of the profile of Spanish socially responsible investors is obtained: young men with higher education, with family responsibilities, religious, and with a middle income level.