This study examines the role of digital financial literacy (DFL) in shaping sustainable investment behaviour (SIB), with a particular emphasis on the mediating effects of financial attitude (FA) and risk-taking propensity (RTP). It further explores the moderating influence of age, gender and work experience.
Using a cross-sectional survey design, data were collected from 771 individual investors in India. The study is also equipped with measurement scales adapted from established sources, and the hypothesised relationships were tested using partial least squares structural equation modelling in SmartPLS 4.
The findings of the study show that DFL has a significant positive effect on SIB, with FA and RTP acting as important mediating mechanisms. Demographic factors moderate selected relationships, indicating heterogeneity in sustainable investment decision-making. Overall, the model demonstrates satisfactory predictive capability.
This study extends the sustainable finance literature by empirically linking DFL to SIB through behavioural and demographic mechanisms, offering insights relevant for emerging market contexts.
