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Article
Publication date: 3 July 2017

Olaf Weber

This paper analyzes the connection between the sustainability performance of Chinese banks and their financial indicators to explore whether sustainability regulations can…

Abstract

Purpose

This paper analyzes the connection between the sustainability performance of Chinese banks and their financial indicators to explore whether sustainability regulations can be implemented without decreasing the financial performance of the banking sector.

Design/methodology/approach

The study examined reports and websites of Chinese banks, categorized different corporate sustainability aspects and conducted panel regression and Granger causality to analyze cause and effect variables.

Findings

The environmental and social performance of Chinese banks increased significantly between 2009 and 2013. Furthermore, a bi-directional causality between financial performance and sustainability performance of Chinese banks has been found. Based on institutional theory, this interaction may be influenced by the Chinese Green Credit Policy.

Research limitations/implications

The findings suggest that corporate sustainability performance and financial performance are not a trade-off but correlate positively. Further research is needed to analyze the effect of financial regulations, such as the Chinese Green Credit Policy.

Practical implications

According to the good management theory by Waddock and Graves (1997) that claims a positive impact of corporate social performance on financial performance, Chinese banks can invest in corporate sustainability to increase their financial success and re-invest parts of the additional returns – also called slack resources – in sustainability activities.

Social implications

Chinese banks are able to influence the economy to become greener and less polluting without sacrificing financial returns.

Originality/value

This is the first study to explore the sustainability performance of Chinese banks, including their products and services.

Details

Sustainability Accounting, Management and Policy Journal, vol. 8 no. 3
Type: Research Article
ISSN: 2040-8021

Keywords

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Article
Publication date: 3 January 2018

Wei Rong Ang and Olaf Weber

This paper aims to analyze the market efficiency of socially responsible investment in Korea. The authors used the daily price of the Dow Jones Sustainability Index Korea…

Abstract

Purpose

This paper aims to analyze the market efficiency of socially responsible investment in Korea. The authors used the daily price of the Dow Jones Sustainability Index Korea between January 2006 and December 2015.

Design/methodology/approach

To analyze the unpredictability of the returns, the authors conducted runs tests, such as the Dickey–Fuller test, the Philip–Perron test, the variance ratio test and autocorrelation tests. These tests investigate whether the future price of socially responsible investment in Korea is dependent on its previous price. If the relationship is dependent, this will violate the theory of weak form of efficient market hypothesis which explains that the past price movements and data do not affect stock prices. Therefore, investors cannot gain any abnormal return by extrapolating the historical data.

Findings

The results suggest that the weak form of the efficient market hypothesis is not valid for the Dow Jones Sustainability Index Korea. This implies that the future price of the index is correlated with past prices. Hence, the future movement of socially responsible investment in Korea can be predicted and enables socially responsible investors to gain abnormal returns.

Originality/value

This is the first study to investigate the market efficiency of socially responsible investment in Korea.

Details

Journal of Global Responsibility, vol. 9 no. 1
Type: Research Article
ISSN: 2041-2568

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Article
Publication date: 12 February 2021

Amr Elalfy, Olaf Weber and Sean Geobey

We investigate the integration of the United Nation's Sustainable Development Goals (SDGs) into the Global Reporting Initiative (GRI)– based reporting thus exploring the…

Abstract

Purpose

We investigate the integration of the United Nation's Sustainable Development Goals (SDGs) into the Global Reporting Initiative (GRI)– based reporting thus exploring the factors that influence the adoption of the SDGs by organizations.

Design/methodology/approach

We analyzed the GRI dataset provided by the GRI data secretariat. We analyzed 14,308 reports provided by 9,397 organizations between 2016 and 2017.

Findings

Larger organizations are more likely to integrate the SDGs into their reporting than smaller organizations. Secondly, publicly listed firms are more likely to address the SDGs. Thirdly, industries with higher sustainability impacts are more likely to address the SDGs in their reporting. Fourthly, our data confirm a regional effect with regard to SDG reporting. Moreover, organizations that follow international sustainability guidelines and standards such as becoming a member of the GRI Gold Community or using the GRI Content Index services and having external assurance are more likely to report on the SDGs.

Research limitations/implications

Corporations play an essential role in the achievement of the SDGs, which shape the future of the world's sustainable development. Nevertheless, SDGs reporting needs more research to analyze the factors that can influence it. The study contributed to the academic literature on CSR and legitimacy theory by analyzing institutional and regional factors that impact SDGs reporting.

Practical implications

The study provides insights about the integration of the SDGs into organizational reporting and accounting, including the adoption of the SDGs by small and medium enterprises (SMEs) and the benefits of the SDGs as a framework for strategic corporate sustainability.

Social implications

A global sustainability framework, such as the SDGs can be integrated into organizations sustainability reporting and accounting in a meaningful way.

Originality/value

This is the first study that analyzes the integration of the SDGs into GRI-based reporting. The study contributes to legitimacy theory by highlighting the factors, which contribute to the legitimacy-based adoption of the SDGs, including organizational size, being publicly listed, being from high-impact industries and certain global regions, etc. SDG reporting can help firms increase their organizational legitimacy across their stakeholders.

Details

Journal of Applied Accounting Research, vol. 22 no. 3
Type: Research Article
ISSN: 0967-5426

Keywords

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Article
Publication date: 20 November 2017

Farhan Rahman, Ian Rowlands and Olaf Weber

It is becoming increasingly clear that as the pressures of climate change increase around the world, all nations must strive to lower their carbon footprint through…

Abstract

Purpose

It is becoming increasingly clear that as the pressures of climate change increase around the world, all nations must strive to lower their carbon footprint through conservation. If the growth trend of green building and infrastructure construction is to be continued and improved upon, then evidence must be collected as to the benefits they bring about, and the level of support they enjoy in the market. The purpose of this paper is to shed light on the economic performance of green buildings by evaluating whether LEED for Homes and BOMA-BEST properties capture higher market valuations and lower vacancy rates. These types of research questions have not been investigated to a great deal in the Canadian context. The primary analysis concerning municipal market valuation of green buildings was conducted using robust ordinary least squares and logistic regression models. Commercial vacancy rates were compared through the use of χ2 tests. Our analysis did not lead to conclusive evidence that there exists a “green” premium in the real estate market with respect to municipal market valuations. The authors argue that this may largely be due to municipal appraisal methods that currently do not incorporate sustainability factors. As such, they may not adequately reflect market tastes and trends. Furthermore, while the vacancy rates of green commercial buildings were, on the whole, lower than their non-green counterparts, the differences were not statistically significant. Given these results, the authors propose a set of research activities that the academic community should pursue.

Design/methodology/approach

Statistical techniques are utilized test whether green certification (LEED/BOMA-BEST) leads to higher municipal valuation for both commercial and residential green properties, using regression analysis. Furthermore, χ2 tests are conducted to evaluate whether certification leads to lower vacancy rates for commercial properties.

Findings

In terms of valuation, certification does not exert (on average) a positive role in terms of higher valuations for both commercial and residential properties. However, with respect to vacancy rates, there is a tendency towards lower vacancy rates for green properties, but the relationship is not statistically significant.

Research limitations/implications

The next set of research needs to gather greater amount of data with respect to how municipal evaluations are performed since the results are counter-intuitive. Greater tracking of the financial performance of green buildings should be conducted and made available for both public and private bodies. Particularly, rental and sale prices of green buildings need to be tracked in an organized manner.

Practical implications

The valuation techniques utilized by the municipal authorities need revision as green properties are being assessed without appropriate guidance from educational institutions. Furthermore, the limited amount of “green” valuation techniques in existence may not be applied.

Originality/value

This is the first Canadian-based research looking into the valuation of green certification using rigorous quantitative statistical techniques and original and publicly available data. Furthermore, it holds important lessons for municipal authorities with respect to green building valuation beyond Canada as the limitations of current practice go mostly likely beyond the North American context.

Details

Smart and Sustainable Built Environment, vol. 6 no. 4
Type: Research Article
ISSN: 2046-6099

Keywords

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Article
Publication date: 1 April 1999

Olaf Weber and René Beeler

While in recent years the aspect of operation ecology is already widely introduced into the daily business of many banks, the issue of considering environmental aspects in…

Abstract

While in recent years the aspect of operation ecology is already widely introduced into the daily business of many banks, the issue of considering environmental aspects in external business relations as a part of sustainable business practice is a rather new and more difficult task. While the incorporation of environmental issues in credit management and investment funds becomes practice in some European and US banks, guidelines for the consideration of sustainability aspects in structured trade and commodity finance are rather more rare. This paper is an attempt to evaluate the existing opportunities to include environmental concerns into these two business sectors and to analyse which environmental criteria might be practicable. Above all the study is based on the consideration of financing trade with unsustainable or environmentally harmful substances. Concerning the sustainability aspects of these substances we revealed four criteria which will render substances as unsustainable. These are substances that are not degradable or only degradable over a long period of time, substances that are harmful to the environment and human health, and those that appear on regulatory or recommended negative lists. To give practical advice for banks, we identified products containing problematic substances and production processes causing problematic emissions. As a result we derived substance and product lists that may be used to help the organisational philosophy towards sustainability. The implementation of these lists would be a good starting point for financial institutions entering into a new area of sustainable business.

Details

Journal of Applied Accounting Research, vol. 5 no. 1
Type: Research Article
ISSN: 0967-5426

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Article
Publication date: 12 November 2020

Zakariya Mustapha, Sherin Binti Kunhibava and Aishath Muneeza

The purpose of this paper is to review the literature on Islamic finance vis-à-vis legal and Sharīʿah non-compliance risks in its transactions and judicial dispute…

Abstract

Purpose

The purpose of this paper is to review the literature on Islamic finance vis-à-vis legal and Sharīʿah non-compliance risks in its transactions and judicial dispute resolution in Nigeria. This is with a view to putting forward direction for future studies on the duo of legal and Sharīʿah non-compliance risks and their impact in Islamic finance.

Design/methodology/approach

This review is designed as an exploratory study and qualitative methodology is used in examining relevant literature comprising of primary and secondary data while identifying legal risk and Sharīʿah non-compliance risks of Nigeria’s Islamic finance industry. Using the doctrinal approach together with content analysis, relevant Nigerian laws and judicial precedents applicable to Islamic finance practice and related publications were examined in determining the identified risks.

Findings

Undeveloped laws, the uncertainty of Sharīʿah governance and enforceability issues are identified as legal gaps for Islamic finance under the Nigerian legal system. The gaps are inimical to and undermine investor confidence in Nigeria’s Islamic finance industry. The review reveals the necessity of tailor-made Sharīʿah-based regulations in addition to corresponding governance and oversight for a legally safe and Sharīʿah-compliant Islamic finance practice. It brings to light the imperative for mitigating the legal and Sharīʿah non-compliance risks associated with Islamic finance operations as crucial for Islamic finance businesses, Islamic finance institutions and their sustainable development.

Research limitations/implications

Based on content analysis, the review is wholly doctrinal and does not involve empirical data. Legal safety and Sharīʿah compliance are not to be compromised in Islamic finance operations. The review would assist relevant regulators and investors in Islamic financial enterprises to understand and determine the impact and potential ramifications of legal safety and Sharīʿah non-compliance on Islamic Finance Institutions.

Practical implications

This study provides an insight into the dimensions and ramifications of legal and Sharīʿah non-compliance risks of Nigeria’s Islamic finance industry. This study is premised on the imperative for research studies whose outcome would inform regulations that strike a balance between establishing Islamic financial institution/business and ensuring legal certainty and Sharīʿah compliance of their operations. This study paves way for this kind of research studies.

Originality/value

The findings and discussions provide a guide for regulators and researchers on the identification and mitigation of legal and Sharīʿah non-compliance risks in Islamic finance via a literature review. This study, the first of its kind in Nigeria, advances the idea that research into legal and Sharīʿah non-compliance risks of Islamic financial entities is key to mitigating the risks and fostering the entities and their businesses.

Details

International Journal of Law and Management, vol. 63 no. 2
Type: Research Article
ISSN: 1754-243X

Keywords

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Article
Publication date: 2 January 2020

Shagun Bansal and Anjani Kumar Singh

Microfinance is seen as the tool for poverty elimination. It provides loan to that particular section of the society which is not included in the mainstream financial…

Abstract

Purpose

Microfinance is seen as the tool for poverty elimination. It provides loan to that particular section of the society which is not included in the mainstream financial system. The purpose of this paper is to study the impact of Microfinance on the lifestyle of women. The study is undertaken to address the question whether the Microfinance actually reach to the root of poverty and improve the standard of living for women who are considered to be the poorest of poor. This paper also aims to acquire the deeper understanding of the entrepreneurial skills which may or may not be inculcated with the help of Microfinance.

Design/methodology/approach

The paper is based on empirical data. The data were collected through structured questionnaire and purposive sampling was used. The respondents were the women beneficiaries of the Microfinance Institutions in the National Capital Region. Total of 117 women were personally interviewed to obtain the response for the questionnaire.

Findings

Microfinance helped to develop entrepreneurial skills among the women as acquiring loan helped them start their own microenterprise and support themselves and their family. Microfinance enhanced the participation of women in the household decision-making. As a result, after obtaining Microfinance, women were found to be more socially developed and empowered. Also, the gender gap seemed to have narrowed as a result of Microfinance.

Research limitations/implications

The findings of the study are limited to the National Capital Region.

Practical implications

Microfinance will be beneficial for women and lead to their empowerment when they have control over the usage of the loan. Microfinance institutions play an important role in facilitating women to become self-reliant. With the help of this paper, one can understand the role of Microfinance in uplifting the marginalized section of the society.

Originality/value

The research work is authentic and original as per the understanding. This paper gives an insight into how Microfinance can not only eliminate poverty but also help women develop the entrepreneurial skills. The paper explores into the issue of how gender inequality can be addressed through Microfinance.

Details

Journal of Management Development, vol. 39 no. 4
Type: Research Article
ISSN: 0262-1711

Keywords

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Book part
Publication date: 15 December 2016

Mary Barbosa-Jerez, Kasia Gonnerman, Benjamin Gottfried and Jason Paul

The purpose of this case study is to demonstrate how a liberal arts college library has reimagined its spaces in response to the changes in higher education, particularly…

Abstract

Purpose

The purpose of this case study is to demonstrate how a liberal arts college library has reimagined its spaces in response to the changes in higher education, particularly integration of educational technology into research, teaching, and learning; changes in students’ information-seeking behaviors; and an increasingly important role of local special collections as a means to preserve and reinforce unique institutional identity.

Methodology/approach

This case study is built on the first-hand experience, as all contributors directly participated in each phase of the process, from formulating ideas to completion of the current stage.

Findings

Meaningful and high-impact space adjustments do not necessarily entail extensive budgetary investments. They do entail, however, developing comprehensive goals and directions and a level of collaboration among library departments and relevant academic units in order to deliver cohesive services, programming, and a creative, nimble response to the constantly changing needs of the patron.

Practical implications

We believe that these high-impact, cost-conscious improvements provide a useful model for other small academic libraries preparing to reconfigure or renovate their spaces. We offer a model for creating a dynamic, service-centered space on a limited budget.

Originality/value

The overwhelming majority of the literature related to library spaces focuses on large universities, and the treatment of space topics in small undergraduate colleges, and liberal arts colleges in particular, is strikingly negligent. This case study of a small liberal arts college will help fill the void by adding to the rare voices commenting on library spaces in liberal arts colleges.

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Article
Publication date: 5 January 2021

Ricardo Malagueño, Jacobo Gomez-Conde, Yannick de Harlez and Olaf Hoffmann

The authors examine the extent to which a controller's involvement in project functions (namely definition and scope, organization, constraints management and risk…

Abstract

Purpose

The authors examine the extent to which a controller's involvement in project functions (namely definition and scope, organization, constraints management and risk management) cascades down to project performance.

Design/methodology/approach

The authors test the study’s framework using survey data from a sample of project leaders in German and Swiss firms. Responses were analyzed using the partial least squares (PLS) technique.

Findings

The authors find that controllers contribute to project success via the previously described project functions. Further, the study reveals the crucial role of controllers in managing uncertainty and project risks.

Research limitations/implications

Although the arguments used in this research were not country specific and suggest that the findings of this study also apply to the controller professional in general, this study clearly acknowledges that further research is needed to address the effects of this role in different jurisdictions given the specific characteristics of controllers acting in German-speaking countries.

Practical implications

The authors provide insights on the role of controllers at an operational level, like project management, highlighting the need for controllers to support an effective project governance.

Originality/value

The authors add to the literature by examining the role of controllers in highly knowledge-intensive, highly pressured, task-driven, interdependent and dynamic operational settings, thus contributing to a better understanding of how controllers function at an operational level. The authors also strengthen a broader role of controllers in project management that goes beyond their historical controlling activities to include more modern functions, extending previous studies analyzing their professional identity.

Details

Journal of Applied Accounting Research, vol. 22 no. 2
Type: Research Article
ISSN: 0967-5426

Keywords

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Expert briefing
Publication date: 18 June 2019

Euro-area governance.

Details

DOI: 10.1108/OXAN-DB244589

ISSN: 2633-304X

Keywords

Geographic
Topical
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