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1 – 10 of over 1000
Article
Publication date: 30 August 2022

Peterson K. Ozili

Financial inclusion washing has not been considered to be a crime although it should be. This paper aims to present a discussion about financial inclusion washing. It was argued…

Abstract

Purpose

Financial inclusion washing has not been considered to be a crime although it should be. This paper aims to present a discussion about financial inclusion washing. It was argued that financial inclusion washing is the deliberate or unintentional use of exaggerated claims or misleading claims to describe an entity’s commitment to increase the level of financial inclusion.

Design/methodology/approach

This paper used the conceptual discourse analysis methodology.

Findings

This paper showed that many entities are at risk of practicing financial inclusion washing such as international development organizations, aid organizations, government agencies, central banks, financial institutions, financial inclusion support groups and associations, among others. This paper also highlighted the manifestations, motivations and consequences of financial inclusion washing. This paper also identified ways through which entities can avoid financial inclusion washing.

Originality/value

The literature has not examined how exaggerated claims about financial inclusion efforts mislead people.

Details

Journal of Financial Crime, vol. 30 no. 5
Type: Research Article
ISSN: 1359-0790

Keywords

Open Access
Article
Publication date: 25 May 2023

Peterson K. Ozili

This paper examines the association between corporate governance and financial inclusion in terms of correlation. This paper examines whether countries that have a strong…

1036

Abstract

Purpose

This paper examines the association between corporate governance and financial inclusion in terms of correlation. This paper examines whether countries that have a strong corporate governance environment also experience better financial inclusion outcomes.

Design/methodology/approach

The indicators of financial inclusion are automated teller machines (ATMs) per 100,000 adults, bank accounts per 1,000 adults and bank branches per 100,000 adults, while the indicators of corporate governance are extent of corporate transparency index, the extent of director liability index, the extent of disclosure index, the extent of ownership and control index, the extent of shareholder rights index, minority investors protection index and ease of shareholder suits index. The association was analyzed using Pearson correlation analysis and granger causality test.

Findings

Strong corporate governance is significantly associated or correlated with better financial inclusion outcomes. The regional analyses show that corporate governance has a significant positive association with financial inclusion in Asian countries and in Middle East countries. However, a positive and negative association was observed between some indicators of corporate governance and financial inclusion in European countries, North American countries, South American countries, African countries and in Middle East and North Africa (MENA) countries, implying that strong corporate governance has a positive and negative association with financial inclusion depending on the indicators of corporate governance and financial inclusion used. There is also evidence of uni-directional granger causality between corporate governance and financial inclusion.

Originality/value

Little is known about the association between corporate governance and financial inclusion. This paper is the first to examine this association.

Details

Journal of Money and Business, vol. 3 no. 1
Type: Research Article
ISSN: 2634-2596

Keywords

Open Access
Article
Publication date: 12 March 2024

Nanna Gillberg

The article aims to investigate how washing practices focused on appeasing sceptics of diversity work in for-profit organizations play out in corporate online communication of…

Abstract

Purpose

The article aims to investigate how washing practices focused on appeasing sceptics of diversity work in for-profit organizations play out in corporate online communication of diversity and inclusion efforts, and how these enable communication to a wide audience that includes social equity advocates.

Design/methodology/approach

Online corporate communication data of diversity and inclusion themes were compiled from the websites of eight Swedish-based multinational corporations. The data included content from the companies’ official websites and annual reports and sustainability reports as well as diversity and inclusion-themed blog posts. A thematic analysis was conducted on the website content.

Findings

The study showcases how tensions between conflicting external demands are navigated by keeping the communication open to several interpretations and thereby achieving multivocality. In the studied corporate texts on diversity and inclusion, this is achieved by alternating between elements catering to a business case audience and those that appeal to a social justice audience, with some procedures managing to appease both audiences at the same time.

Originality/value

The article complements previously described forms of washing by introducing an additional type of washingbusiness case washing – an articulation of the business case rhetoric that characterizes the diversity management discourse. While much has been written about washing to satisfy advocates of social change and equity, washing to appease shareholders and boardroom members, who are focused on profit and economic growth, has received less attention. The article suggests that online corporate communication on diversity and inclusion, by appeasing diverse audiences, can be seen as aspirational talk.

Details

Equality, Diversity and Inclusion: An International Journal, vol. 43 no. 9
Type: Research Article
ISSN: 2040-7149

Keywords

Article
Publication date: 12 December 2023

Cristina del Río, Karen González-Álvarez and Francisco José López-Arceiz

The purpose of this study is to examine the existence of greenwashing and sustainable development goal (SDG)-washing processes by comparing ex ante (SDG Compass) and ex post (SDG…

1157

Abstract

Purpose

The purpose of this study is to examine the existence of greenwashing and sustainable development goal (SDG)-washing processes by comparing ex ante (SDG Compass) and ex post (SDG Compliance) indicators and investigating whether the limitations associated with these indicators encourage companies to engage in washing processes.

Design/methodology/approach

The authors use a sample of 1,154 companies included in the S&P Sustainability Yearbook (formerly the RobecoSAM Yearbook). The authors test for the presence of greenwashing by comparing ex ante and ex post indicators for each SDG, whereas to test for SDG-washing, the authors compare the two ex ante and ex post approaches considering the full set of SDGs.

Findings

The results show that there is no consistency between the two types of indicators to measure the level of SDG implementation in organisations. This lack of consistency may facilitate both greenwashing and SDG-washing processes, which is due to the design and limitations of these measurement tools.

Practical implications

Companies may choose those indicators that paint their commitment to the SDGs in the best light, but they may also select indicators based on the SDGs they want to report on. These two options would combine greenwashing and SDG-washing.

Social implications

The shift towards improved standards and regulations for measuring SDG achievement is the result of several social factors such as investor scrutiny, regulatory reform, consumer awareness and increased corporate accountability.

Originality/value

Few previous studies have analysed in detail the interaction between greenwashing and SDG-washing. They focus on the use of ex ante or ex post indicators separately, with samples composed of local companies, and without considering the whole set of SDGs.

Details

Sustainability Accounting, Management and Policy Journal, vol. 15 no. 2
Type: Research Article
ISSN: 2040-8021

Keywords

Article
Publication date: 14 September 2023

Josephine Ofosu-Mensah Ababio, Eric B. Yiadom, John K.M. Mawutor, Joseph K. Tuffour and Edward Attah‐Botchwey

This study aims to use 67 developing countries to examine the role of financial inclusion as an “empowering tool” for renewable energy uptake and to improve environmental…

Abstract

Purpose

This study aims to use 67 developing countries to examine the role of financial inclusion as an “empowering tool” for renewable energy uptake and to improve environmental sustainability in developing countries.

Design/methodology/approach

Using a battery of econometric models, including the generalized method of moment-panel vector autoregression (GMM-PVAR), impulse response function, Granger causality, fully modified ordinary least squares and dynamic ordinary least squares, the study proposed and tested three hypotheses.

Findings

The results from various estimations indicate that financial inclusion has a positive effect on renewable energy consumption and environmental sustainability improvement in developing countries. The findings suggest that financial inclusion can improve environmental sustainability by increasing access to financing to fund renewable energy projects, support sustainable businesses and promote sustainable practices.

Originality/value

This study suggests that policymakers prioritize financial inclusion to promote renewable energy consumption and environmental sustainability. Policies should enhance access to financial services, offer financial incentives and subsidies, provide affordable loans through microfinance institutions and fintech companies and promote sustainable businesses and green technologies.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Open Access
Article
Publication date: 29 March 2022

Uduak Michael Ekong and Christopher Nyong Ekong

This study aims to empirically investigate the effect of digital currency development (digital finance) on financial inclusion in Nigeria for the period. Nigeria undertook her…

6268

Abstract

Purpose

This study aims to empirically investigate the effect of digital currency development (digital finance) on financial inclusion in Nigeria for the period. Nigeria undertook her digital currency development to rip the benefits of financial inclusion, safer remittances and exchange rate regularization among others.

Design/methodology/approach

The researchers developed high-frequency quarterly data for the analysis from 2006:1 to 2020:4 in a weighted stepwise forward regression. A model similar to the one used by Demir et al. (2020) and Altunbas and Thornton (2019) with some modifications was developed.

Findings

Findings suggest that (1) a unit rise in the usage of automated teller machines by citizens spontaneously raised financial inclusion in a quarter in Nigeria by 0.012 units and were statistically significant; (2) a percentage rise in the use of point of sales transaction by citizens in the country also raised financial inclusion in Nigeria by approximately 1%; (3) a percentage increase by mobile payment users in Nigeria will spontaneously increase financial inclusion by at least 0.4%; (4) a percentage rise in web payment services reduces financial inclusion by 22% in Nigeria; (5) Cumulative positive effect of digital finances on financial inclusion in Nigeria was approximately 7%.

Practical implications

The researches show, using in-sample forecast, that while financial inclusion will grow in Nigeria, it will not be without systemic fluctuations. Based on the outcome, it is proposed that if the present digital currency penetration for the country is sustained at the present growth rate, the country may be more financially inclusive by 2% additionally by 2025 and 4% more by 2030.

Originality/value

Originally, it is found that digital currency development are positive derivatives for financial inclusion in Nigeria. Cumulatively, the effect of digital finances on financial inclusion in Nigeria is approximately 7% positive.

Details

Journal of Internet and Digital Economics, vol. 2 no. 1
Type: Research Article
ISSN: 2752-6356

Keywords

Article
Publication date: 21 November 2018

Suzanne Findlay and Michael Moran

As an emerging field of financing, impact investing is under-institutionalised and is in a legitimacy building phase. In an attempt to unpack how impact investing is deployed in…

2962

Abstract

Purpose

As an emerging field of financing, impact investing is under-institutionalised and is in a legitimacy building phase. In an attempt to unpack how impact investing is deployed in global markets, the key elements of its definition (intentionality, returns and measurement) are examined through a review of academic and practitioner literature. A refined definition is developed which emphasises the key elements of intentionality and measurement as separating impact investment from the established field of socially responsible investment (SRI).

Design/methodology/approach

Funds and products from a publicly available database are systematically analysed against the refined definition to determine the rigour with which intentionality and measurement are applied by self-identified market participants. These elements are used as a proxy to determine “purpose-washing” – a process where funds are presented as impact investments but do not satisfy a tightly applied definition. Purpose-washing enables the possibility of “retrofitting”, where funds originally defined as other products (e.g. SRI) retrospectively claim to be impact investments.

Findings

Having found evidence of purpose-washing but not retrofitting, actions are identified to enhance impact investment’s integrity, focussing on intentionality, measurement and transparency. Clarity of definition and purpose are important for a field in the market-building phase, as a lack of clarity could have negative implications for integrity and growth. The authors postulate that purpose-washing may be attributed to twin but distinctive motivations by market participants: interest in fee-generation among fund managers and attempts to bolster field legitimacy by demonstrating sector growth among impact investing proponents.

Originality value

This paper represents a unique analysis of impact investments against a robust and refined definition. By doing so, it offers a systematic appraisal of impact investments and an overall assessment of market integrity in its field-building phase.

Details

Social Responsibility Journal, vol. 15 no. 7
Type: Research Article
ISSN: 1747-1117

Keywords

Article
Publication date: 21 October 2013

Stephen Sinclair

The article aims to discuss findings from a knowledge exchange review of financial inclusion in Britain and compare these to key features of financial exclusion evident from…

1586

Abstract

Purpose

The article aims to discuss findings from a knowledge exchange review of financial inclusion in Britain and compare these to key features of financial exclusion evident from European analyses.

Design/methodology/approach

This paper is based on an innovative knowledge exchange project. Rapid research reviews analysed evidence on financial exclusion in Britain in relation to access to banking services; to credit; to household insurance; personal savings and assets; money advice provision; and financial capability. The findings from these reviews were discussed by stakeholders representing the private, government, community and civil society sectors in a series of evidence review forums. The results of these discussions were summarised and reconsidered at a national knowledge exchange conference. Throughout the project, stakeholders exchange opinions about the state of financial exclusion knowledge through an online discussion forum.

Findings

The research identified agreement among British stakeholders over several aspects of financial exclusion, in particular continuing problems of access to mainstream banking services for low income customers and a lack of appropriate and affordable credit provision. Areas of controversy included whether banks denied services to lower income customers or were withdrawing from deprived communities, and the necessity for further regulation of mainstream financial services.

Originality/value

Comparing these findings to research from other European countries raises questions about how financial inclusion should be defined, and whether existing indicators capture this adequately across contrasting social, institutional and regulatory contexts. The research raises challenges for policy transfer between countries.

Details

International Journal of Sociology and Social Policy, vol. 33 no. 11/12
Type: Research Article
ISSN: 0144-333X

Keywords

Book part
Publication date: 16 September 2014

Kristiano Raccanello

The research aimed at explaining women microcredit repayment delay when loans are not granted on any joint liability group nor any other scheme based on social capital or financial

Abstract

Purpose

The research aimed at explaining women microcredit repayment delay when loans are not granted on any joint liability group nor any other scheme based on social capital or financial collateral.

Design/methodology/approach

Previous research showed that greater female autonomy is associated with bearing fewer children and the former could be correlated to a higher loan repayment rate because of social and financial benefits for the household. Female autonomy proxied through the number of children and its square is regressed on the number of weeks of repayment delay in an OLS model as well as in a multilogit model that identifies borrowers according to their credit status (regular, delayed, and delinquent).

Findings

We found that more autonomous women, those bearing less than four children, repay credit more promptly and are less likely to switch into the delinquent credit status.

Research limitations/implications

Economic variables need to be complemented with some specific characteristics of the borrower, as they have a role in explaining women’s repayment delay.

Originality/value

The research provides an alternate explanation about why women repay loans when a microcredit institution does not rely on a lending methodology based on joint liability groups.

Details

Production, Consumption, Business and the Economy: Structural Ideals and Moral Realities
Type: Book
ISBN: 978-1-78441-055-1

Keywords

Article
Publication date: 9 November 2020

Habib Zaman Khan, Sudipta Bose, Abu Taher Mollik and Harun Harun

This study explores the quality of sustainability reporting (QSR) and the impact of regulatory guidelines, social performance and a standardised reporting framework (using the…

7492

Abstract

Purpose

This study explores the quality of sustainability reporting (QSR) and the impact of regulatory guidelines, social performance and a standardised reporting framework (using the Global Reporting Initiative [GRI] guidelines) on QSR in the context of banks in Bangladesh.

Design/methodology/approach

Using a sample of 315 banking firm-year observations over 13 years (2002–2014), a content analysis technique is used to develop the 11-item QSR index. Regression analysis is used to test the research hypotheses.

Findings

Initially, QSR evolved symbolically in Bangladesh's banks but, over our investigation period, with QSR indicators gradually improving, the trends became substantive. The influences on QSR were sustainable banking practice regulatory guidelines, social performance and use of the GRI guidelines. However, until banks improve reporting information, such as external verification and trends over time, QSR cannot be regarded as fully substantive.

Research limitations/implications

This study advances QSR research and debate among academic researchers. With regulatory agencies and stakeholders increasingly using sustainability reporting information for decision making, the information's quality is vital.

Originality/value

This study is the first on QSR in the banking industry context, with previous research mostly investigating the quantity of sustainability reporting. The current study also synthesises QSR with sustainability regulation and social performance factors which have rarely been used in the sustainability literature. To gain a holistic understanding of QSR, existing QSR measures are advanced by combining external reporting efforts with banks' internalisation initiatives.

Details

Accounting, Auditing & Accountability Journal, vol. 34 no. 2
Type: Research Article
ISSN: 0951-3574

Keywords

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