Title: Impact of business education of owners and financial support on investment in socially responsible ventures

Authors: Amarjit Gill; Harvinder S. Mand; Neil Mathur

Addresses: Edwards School of Business, Department of Finance and Management Science, University of Saskatchewan, 25 Campus Drive, Saskatoon, SK, V7N-5A7, Canada ' University College Benra (Dhuri), Constituent College of Punjabi University, Patiala; Department of Business Administration, District Sangrur, East Punjab, India ' College of Management and Technology, Walden University, 100 Washington Avenue, South Minneapolis, MN, 55401, USA

Abstract: This study tested the impact of business education of owners (BE_OWNERS) and foreign family members' financial support (FFM_FS) on investment in socially responsible ventures (INVEST_SRVs). Our survey research collected data from family business owners in India. As baseline methods, we used ordinary least square (OLS) and ordered logistic regressions to test hypotheses and two-stage least square regressions to reduce endogeneity issues. Our survey analysis shows that family business owners' education increases FFM_FS and INVEST_SRVs. FFM_FS, in turn, increases internal financing sources (IFS) and INVEST_SRVs. Foreign family members' financial support and IFS moderate the relationship between BE_OWNERS and INVEST_SRVs. The empirical survey analysis of this study contributes to the literature on the impact of BE_OWNERS and FFM_FS on INVEST_SRVs. Academia may find our research data analysis beneficial to develop further studies on the effects of BE_OWNERS and FFM_FS on investment in socially responsible ventures.

Keywords: business education of owners; foreign family members' financial support; investment in socially responsible ventures; India.

DOI: 10.1504/IJBAF.2024.139353

International Journal of Behavioural Accounting and Finance, 2024 Vol.7 No.2, pp.135 - 152

Received: 14 Jul 2023
Accepted: 29 Oct 2023
Published online: 01 Jul 2024 *

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