Exploring the Impact of Financial Literacy on ESG Fund Investments among Indian Millennials : The Moderating Role of FinTech Adoption

Key Points

• The study aims to examine how financial literacy affects investments in ESG funds among Indian millennials and the influence of fintech adoption.
• Conducted a randomized trial among Indian millennials to analyze investment patterns.
• Evaluated the moderating effect of fintech adoption on the relationship between financial literacy and ESG fund investments.
• Collected data through surveys and analyzed using statistical methods.
• Increased financial literacy significantly boosted the likelihood of purchasing ESG funds among participants.
• For millennials with high fintech adoption, the effect of financial literacy on ESG fund investments was stronger (OR 2.3, 95% CI 1.5-3.4, p=0.002).
• Participants with a modicum of financial literacy showed a 45% increase in ESG fund investments with fintech tools.

Abstract