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This study aims to investigate the relationship between stock markets, environmental, social and governance (ESG) factors and Shariah-compliant in an integrated framework.

The authors employ the multivariate factor stochastic volatility (mvFSV) framework to extract the volatility of the different sectoral indices. Based on this evidence, the authors employ the quantile vector autoregressive (QVAR) approach to examine the dynamic spillover connectedness among the aforementioned indices.

The study emphasizes the following major findings: (1) significant time-varying spillover connectedness across quantiles, (2) bidirectional and asymmetric spillover effect among the ESG index and the other sectoral indices, (3) the strength of spillover connectedness is time-varying across quantiles, (4) based on the perspective of portfolio optimization, ESG market is a significant strong forecasting contributor to conventional and Shariah-compliant markets, (5) overall, the findings point out serious quantile pass-through effect among ESG index and the other sectoral indices during the COVID-19 health crisis.

This study extends the previous literature in the following ways. First, to the best of the researchers’ knowledge, none of the existing studies have investigated the relationship between stock markets, ESG factors and Shariah-compliant in an integrated framework. Second, this study extends the previous scholarships by applying the mvFSV. Third, the authors propose a new rolling version to estimate dynamic spillovers, namely the rolling-window quantile VAR method. This approach provides a great advantage in computing the dynamics of return and variance spillover between variables in terms not only of the overall factor but also of the net (pairwise) aspect.

Ethnic entrepreneurship is, and always has been, a means of survival. However, there is limited literature on ethnic entrepreneurship in Australia and therefore, an understanding of ethnic entrepreneurs’ motivations to become self-employed. The purpose of this paper is to report the influential factors in the decision to engage in self-employment through case studies of members of Melbourne’s Sri Lankan community informed by the mixed embeddedness approach.

The mixed embeddedness approach frames the study where the authors examine the motivations for business of five Sri Lankan entrepreneurs. Narratives are used to construct individual case studies, which are then analyzed in terms of the motivations for, resources used and challenges faced on the entrepreneurial journey.

For these ethnic entrepreneurs, their entrepreneurial activity results from a dynamic match between local market opportunities and the specific ethnic resources available to them at the time of founding. The self-employment decision was not prompted by a lack of human capital but an inability to use that human capital in alternative means of employment at specific points in time. Moreover the authors highlight the importance of social and cultural capital as resources used to overcome challenges on the entrepreneurial journey.

In this community, entrepreneurship was not a result of a lack of human capital but how it was utilized in combination with social and cultural capitals in the given opportunity structure. The mixed embeddedness approach enables the uncovering of how ethnic network ties were used in light of the opportunities available to build entrepreneurial activity.

Socially responsible investment (SRI) is now a well established part of equities investment. Questions are now being raised over property investment and whether similar attempts to be “socially responsible” should be incorporated into investment practice. This paper aims to examine the investment practices of large fund managers for both equities and property in order to identify products and activities which are contributing to the progress of SRPI.

Analysis was conducted of equities SRI, and potential SRPI activities, for the top ten UK property fund management using publicly available company literature. This was analysed using simple matrices to understand common activities, industry application, and market‐leading innovations. Relationships between progress in SRI and SRPI, are also explored, along with the consideration of SRPI actions in the context of SRI concepts.

Market leaders were established in terms of their equities SRI products and services, though this did not necessarily equate to progress in the field of SRPI. Only one potentially SPRI product was identified. However this does not represent the overall consideration of sustainability issues in relation to property investment practices. Half of the companies studied were found to be taking actions which demonstrate attempts to consider the impacts associated with property investment.

This paper reflects a call from key SRPI thinkers to assess the current extent of SRPI practices, which will be a useful starting point for further analysis/debate of the most appropriate SRPI methods. It should therefore be of interest to both SRI and general property investors alike.

This paper aims to examine and compare the export performance and competitiveness of Indian and Chinese textile and clothing industry in post-multifibre arrangement (MFA) era.

Balassa’s revealed comparative advantage Index is used to assess the competitiveness of Indian and Chinese textile and clothing exports.

The results indicate that China’s textiles and garments sector holds a greater proportion of the global market compared with India. India has a robust comparative advantage in silk, carpets and cotton post-MFA. Vegetable textile fibers, paper yarn and woven fabrics of paper yarn are also competitive. China had a strong comparative advantage in silk and fabrics; special woven fabrics, tafted textile fabrics, lace, tapestries, trimmings and embroidery in 2005. China also recorded comparative advantage in silk, man-made filaments: strip and the like of man-made textile materials, fabrics; special woven fabrics, tafted textile fabrics, lace, tapestries, trimmings and embroidery and fabrics; knitted or crocheted in 2021.

This study’s results and recommendations could assist the Indian and Chinese Governments develop policies to upgrade their garment industries.

Though vast literature reviews are available for textile and apparel export performance in India and China separately, there are few studies on comparisons. This study is a significant attempt to evaluate India and China’s competitiveness in the global market.

Ecosystem-based livelihood diversification (ESLD) approaches have been identified as one of the best solutions to alleviate poverty and improve living standards in rural communities in developing nations. This study aims to elucidate the motivations that drive Sri Lankan women in rural agri-based community to adopt ESLD activities.

The sustainable livelihood approach (SLA) five pillars were used as a theoretical framework. This study was carried out with women living in farmer families located in Anuradhapura District, Sri Lanka. A purposive sampling technique was used, and semistructured interviews were performed with 46 women in a noncontrived setting. Deductive content analysis approach was used for answering research questions.

Making handcrafts using different plants, composting and home gardening are the major sources of ESLD of women in the study areas. Under the SLA factors, human resources include family size, education, vocational training, age and attitude. Social resources like participation in community work, family support received and becoming members in cooperatives encourage the women to partake in ESLD. Nonagriculture natural resources were considered as an incentive to engage in ESLD. Satisfaction with the income generated by the livelihood, other income sources and loans from the informal sector were the vital financial resources. Regarding the physical resources, the respondents were profound with infrastructure, marketplaces, training centers and tools/equipment.

Knowing the existing ESLD strategies and pointing out the determinant factors affecting women in practicing ESLD activities are unquestionably important in the provision of information to formulate an appropriate strategy for the development of the rural agri-based community.

Little is known about the ESLD efforts and the extent of adoption of ESLD practices by women in rural communities. The findings based on the SLA framework help to understand what is happening in livelihood diversifications in agri-based community and suggest important implications for the development of ESLD for the future.

Socially responsible property investment (SRPI) has taken on increased significance in recent years, as property investors have given an increased priority to environmental, social and governance issues in their property investment decision making. The purpose of this paper is to establish SRPI performance indices for UK property companies and empirically benchmark their risk‐adjusted performance and portfolio diversification benefits over recent years.

Using five socially responsible investment (SRI) performance eligibility criteria, the UK property companies contributing to these SRI measures are identified. These UK property companies are used to establish a number of SRPI market cap‐weighted performance indices over 2003‐2008. These SRPI performance indices are used to assess the risk‐adjusted performance and portfolio diversification benefits of UK SRPI property companies.

This paper objectively identifies the UK property companies actively involved in SRPI and finds that the UK SRPI property companies delivered superior risk‐adjusted returns than the overall UK property companies sector, with this performance being achieved with no loss of portfolio diversification benefits.

Much of the previous SRPI research has focused on the broad concept of SRPI with no empirical analysis. This paper is the first attempt to rigorously and empirically assess the risk‐adjusted performance of UK SRPI property companies by establishing SRPI performance indices for UK property companies. Given the increasing significance of SRPI, this research enables empirically validated, more informed and practical investment decision making regarding the performance‐based supporting of the SRPI agenda by property investors.

The purpose of this paper is first to give an in-depth discussion of the criticism of socially responsible investment's (SRI) alleged incompatibility with the concept of rational investment constituting an inferiority to conventional investment so as to disprove unwarranted arguments and identify potential for improvement of SRI. The second objective is to propose a framework that places SRI and conventional investment on the same level of rationality.

The discussion is based on a literature study. The framework uses a previously published multidimensional optimization approach and embeds it into a new, integrated methodology for investment decisions in the presence of SRI objectives. The framework is empirically evaluated using historic stock market data.

The main findings show that SRI is not necessarily less rational than conventional investment; it can be implemented in an equally stringent and clearly defined methodology. The empirical results prove that investors can pursue SRI objectives without sacrificing performance.

Focus is on the German stock market; in the future, research will be expanded to cover international markets.

The results may contribute to enhance the SRI methodology.

Investors may be encouraged to consider SRI, strengthening the concept of sustainability.

In the literature, the question of SRI’s compatibility with rational investment has often been cited but seldom scrutinized. An in-depth analysis combined with a framework to exploit of the learnings has yet been missing.

The purpose of this paper is to test the dynamic linkages among the stock markets of four South Asian countries (India, Pakistan, Bangladesh and Sri Lanka) in the backdrop of trade interdependency.

Listed indices are used to serve the proxy of stock markets of four countries for the period: January 2000–December 2018. The study uses the autoregressive distributed lag model and Granger causality techniques in multivariate frameworks while focusing on intraregional trade as an exogenous factor for testing the long- and short-run causality in the given data set, hence raising the quality of statistical inference.

The results highlight that India and Pakistan are net exporters to the South Asian region, while Bangladesh and Sri Lanka are net importers from the region. While testing the stock markets linkages, the expanded intraregional trade volumes (exports plus imports) have occurred with the significant cointegration of stock markets of India and Pakistan with the other stock markets in the long run. In the short run, the stock markets of India, Pakistan and Sri Lanka report bidirectional causality without having significant spillovers of intraregional trade on the stock prices.

The study relies on the multivariate techniques with stock prices and regional trade share as the exogenous variables. Further the regulatory, political and economic conditions of sample countries are fundamentally different which in turn affect their degree of trade interdependency and integration between the stock markets.

Nonsignificant cointegration of the stock markets of Sri Lanka and Bangladesh highlights the possibility of portfolio diversification in the long run, while the significant bidirectional causalities between the stock markets highlight the lesser degree of portfolio diversifications in the short run.

Pioneer efforts are made to examine the dynamic linkages between the South Asian stock markets while focusing on regional trade interdependency. The results provide new insight in the dynamics of stock returns of South Asian stock markets in the backdrop of intraregional trade.