Since the global financial crisis in 2007, social banks have been flooded with deposits. Previous studies have indicated that customers hold deposits with social banks due to social banks' special placement of assets. However, to date it has been far from clear how social banks select their investments, and consequently to what extent the placement of assets meets depositors' preferences. The purpose of this paper is, therefore, to investigate whether the characteristics of social banks’ placement of assets are relevant to depositors’ choice of social banks. A two-stage study is conducted, using data collected via a document analysis of social banks' investment criteria, a survey of social banks, and an online survey of 609 depositors. The results imply that the characteristics of social banks' placement of assets are indeed relevant to depositors' choice of social banks, but do not explain customer behaviour entirely. Furthermore, the findings indicate that a relevant proportion of customers hold deposits with social banks to avoid “evil” rather than necessarily creating “good.” Based on the findings, a theoretical framework of depositors' choice of social banks is presented that goes far beyond previous explanations by considering various types of social depositors, banks, and borrowers.

中文翻译：

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影响力投资、邪恶投资以及介于两者之间：比较社会银行的投资标准和策略与储户的投资偏好

自 2007 年全球金融危机以来，社会银行充斥着存款。以往的研究表明，由于社会银行对资产的特殊配置，客户持有社会银行存款。然而，迄今为止，社会银行如何选择投资，以及资产配置在多大程度上满足储户的偏好，目前还远未明确。因此，本文的目的是调查社会银行资产配置的特征是否与存款人选择社会银行有关。使用通过社会银行投资标准文件分析、社会银行调查和 609 名储户在线调查收集的数据进行了两阶段研究。结果表明，社会银行的特征 资产配置确实与存款人选择社会银行有关，但不能完全解释客户行为。此外，调查结果表明，相关比例的客户在社会银行持有存款是为了避免“邪恶”，而不是一定要创造“善良”。基于研究结果，通过考虑各种类型的社会存款人、银行和借款人，提出了一个远远超出先前解释的存款人选择社会银行的理论框架。