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Open Access
Article
Publication date: 28 August 2024

Leya Paulsy and Madhu Lal M

The study aims to identify the trends in the scholarly works on investors preference toward sustainable investments by synthesizing their knowledge structures.

Abstract

Purpose

The study aims to identify the trends in the scholarly works on investors preference toward sustainable investments by synthesizing their knowledge structures.

Design/methodology/approach

A systematic search approach using PRISMA protocol on the Scopus database was used to generate a sample of 403 publications for the purpose of bibliometric analysis. The study performed a range of analyses, including three-field plot analysis, thematic mapping and cluster analysis using the VOSviewer and Biblioshiny software.

Findings

The key findings comprise the identification of four clusters within the subject, namely, corporate social responsibility and environmental, social and governance (ESG) investing, ethical investing, green finance and socially responsible investments. This study offers a clear picture of the publishing advancement and research diversification of four selected clusters' research themes, and cluster subthemes.

Practical implications

The research reveals the social and intellectual structure of the field, which provides the future researchers an insights into emerging themes and provides them opportunities for collaboration as well. The outcomes of the research hold significance for policymakers, governing bodies, aspiring scholars, advocates for the environment and investors. It offers an insightful framework for implementing sustainable practices, balancing profits, and environmental risks and creating value from environmentally conscious research and practice.

Originality/value

The future direction and extensiveness of research work have been explored using the themes generated. To the best of the authors’ knowledge, this study, which combines the VOSviewer and Biblioshiny tools, is likely the first attempt to provide a thorough bibliometric analysis in the research sphere of investors preferences toward sustainable investments.

Details

Vilakshan - XIMB Journal of Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0973-1954

Keywords

Article
Publication date: 17 July 2024

Nejla Ould Daoud Ellili

This study aims to examine the impact of board gender diversity on sustainable growth by considering the mediating role of investment efficiency (INVEFF) in this relationship and…

Abstract

Purpose

This study aims to examine the impact of board gender diversity on sustainable growth by considering the mediating role of investment efficiency (INVEFF) in this relationship and the threshold effect between board gender diversity and INVEFF. This investigation focuses on the Gulf Cooperation Council (GCC) region, which is characterized by rapid socio-economic transformations and a recent emphasis on gender diversity.

Design/methodology/approach

Panel data regressions are applied to estimate the impact of board gender diversity on INVEFF using companies listed in the GCC in 2013–2022 as a sample. The estimations consider subsamples of underinvestment and overinvestment, as well as the pre- and post-COVID-19 pandemic periods.

Findings

The empirical results show a nonlinear impact of board gender diversity on INVEFF, a relationship that is more pronounced in the underinvestment subsample. The results indicate that INVEFF mediates the relationship between board gender diversity and corporate sustainable growth, which helps companies optimize their board composition to enhance their sustainable growth strategies.

Research limitations/implications

These findings could inform GCC regulators in mandating further increases in women’s presence on boards of directors to improve INVEFF. This study examined only GCC-listed companies. Future research should investigate other factors influencing INVEFF and conduct comparative studies across Middle Eastern and North African countries to consider different regulatory and economic contexts and to examine compliance with international standards.

Social implications

This study reveals the significant nonlinear impact of board gender diversity on INVEFF and the mediation of INVEFF in the relationship between board gender diversity and sustainable growth. These findings will help companies optimize their board of directors’ composition by increasing the presence of women on boards to improve their INVEFF and sustainable growth. This study aims to develop knowledge that will not only benefit companies regarding the potential impact of board gender diversity but also help international communities create better gender equality within companies.

Originality/value

To the best of the author’s knowledge, this study is the first to explore the relationship between board gender diversity and INVEFF in the emerging economies of the GCC region. It is also the first to examine the nonlinear relationship between board gender diversity and INVEFF and the mediating role of INVEFF in the relationship between board diversity and sustainable growth. This study contributes to the understanding of the financial impact of board gender diversity in improving corporate INVEFF and sustainable growth.

Details

Corporate Governance: The International Journal of Business in Society, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 13 September 2024

Stéphanie Giamporcaro and George Kuk

This study aims to make a distinction between actualized and claimed affordances of blockchain by examining how a specified user group interprets and translates the actualized…

Abstract

Purpose

This study aims to make a distinction between actualized and claimed affordances of blockchain by examining how a specified user group interprets and translates the actualized affordances from a known use context into their existing practices. This allows us to develop and advance the concept of affordances-in-practice as an enactment of action possibilities through practices in a specified use context.

Design/methodology/approach

We focus on the field of sustainable investment (SI) and its relation to emerging blockchain technologies in the pursuit of sustainable development goals (SDGs). We used a field study involving 29 interviews with SI practitioners and blockchain entrepreneurs in South Africa, supplemented with an analysis of 91 practitioner and industry documents.

Findings

Our findings show that when there is a lack of actual use cases in the field of SI, the claimed affordances of blockchain are subject to a sensemaking process, which considers how action possibilities can be enacted and transformed through practices and how institutional constraints and socio-cognitive barriers can determine the available action possibilities.

Research limitations/implications

A notable limitation relates to the relative novelty and emerging status of blockchain. As affordances are based on available information and experience, this leaves room for claimed affordances. We discuss the implications of the interplay of the actualized and claimed affordances in blockchain applications in the field of SI.

Practical implications

We discuss the practical implications of addressing claimed affordances and field opacity in the SI field.

Originality/value

To the best of the authors’ knowledge, this is the first study to examine blockchain affordances for good in the context of achieving SDGs through SI. Our affordances-in-practice framework holds theoretical promise to pinpoint and explain how practices can shape action possibilities despite having difficulties in evaluating the underlying technological potentialities.

Details

Information Technology & People, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 9 November 2023

Issam Tlemsani, Asif Zaman, Mohamed Ashmel Mohamed Hashim and Robin Matthews

This study examines the intersection of emerging Islamic economies and the digital economy in the context of the United Nations sustainable development goals (UN SDGs). This study…

Abstract

Purpose

This study examines the intersection of emerging Islamic economies and the digital economy in the context of the United Nations sustainable development goals (UN SDGs). This study aims to investigate the opportunities, challenges and barriers faced by emerging Islamic economies in the context of the digital economy. It specifically focuses on how these economies can contribute to the achievement of UN SDGs established in 2015. In addition, the study explores the prospects of Islamic digital finance and its potential to facilitate the adoption of the UN SDGs.

Design/methodology/approach

The following components outline the design, methods and approach of this study, identify and select specific UN SDGs that are relevant to the research aims. These selected goals serve as the basis for evaluating the impact of conventional and Islamic digital financial inclusion, gathered data from credible sources such as Bloomberg and Refinitiv Thomson Reuters to support the analysis. These sources provide comprehensive data on global indicators, progress and targets related to the UN SDGs, compare and evaluate the impact of both conventional and Islamic digital financial inclusion strategies on the selected UN SDGs; the study uses qualitative interpretation of the gathered data, which involves identifying patterns, themes and connections within the data to draw meaningful conclusions.

Findings

Results revealed that Islamic digital finance has the potential to contribute significantly to achieving the UN SDGs by promoting financial inclusion, encouraging ethical investments, supporting small and medium enterprises, promoting sustainable investments and leveraging technology to expand access to Islamic financial services and support sustainable investments.

Research limitations/implications

While there are many potential benefits of Islamic digital finance in helping to achieve the UN SDGs, there are also several limitations that should be considered in research, such as limited access to digital infrastructure, regulatory challenges, product offerings, scale, awareness and adoption. Addressing these limitations will be critical to maximizing the potential of Islamic digital finance to contribute to achieving the UN SDGs.

Practical implications

This study points to an important gap in the literature; for practitioners, this study has significant managerial consequences for achieving the UN SDGs in emerging economies by facilitating social impact investments and promoting ethical and sustainable investments.

Originality/value

This study’s uniqueness lies in its exploration of the limited exploration of connecting the implementation of digital financial systems to promote UN SDGs within emerging Islamic economies.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 27 May 2024

Pawan Kumar, Sanjay Taneja and Ercan Ozen

The purpose of this study to brought new dimensions by inserting market conditions and investor sentiments as independent variable measure their impact on government policy…

Abstract

Purpose

The purpose of this study to brought new dimensions by inserting market conditions and investor sentiments as independent variable measure their impact on government policy formulation and sustainable development. This research also measures the moderating effective stakeholder engagement. Previous research has focused on demystifying the relationship between green bonds and sustainable development.

Design/methodology/approach

The analysis part of the research is initiated by factor analysis on the sample size of 100. After the construction of appropriate statements matching the research objective, it was circulated to the respondents of northern region of India. The sampling technique was random in nature through which data analysis on 700 respondents was done. For meeting research objectives present research applies PLS algorithm on the conceptual model framed through review of literature.

Findings

Out of all independent variables green bond issuance is having statistically significant impact on government policy formulation and investors’ sentiment is having statistically significant impact on sustainable development. Rest all other pairs are statistically insignificant. For an investor, it is necessary to understand that how its sentiments impacts government policy formulation and the health of ecology.

Practical implications

The research produced results with management implications for practitioners and policy makers that are very significant to the fields of sustainability, green finance and environmental policy. Green bonds also influence government policy, illustrating how green financing may revolutionize environmental laws and regulations.

Social implications

The social implications of this revelation are considerable. The research enhances knowledge about sustainable development by emphasizing the importance of green bonds in supporting environmentally friendly activities. It allows for transparent reporting, increasing social accountability and reputation while attracting environmentally conscious consumers and fostering community trust. According to the survey, investor sentiment and their enthusiasm for eco-friendly investments may push more money to efforts that are good for society and the environment. This study enhances consciousness about sustainable finance, which has the potential to inspire beneficial social shifts towards a more environmentally and socially equitable future.

Originality/value

These social ramifications manifest themselves in various socioeconomic and environmental issues of the society in addition to credit and public policy. Second, it is evident that green bond emissions are influencing government policy, demonstrating the power of financial instruments to encourage environmentally beneficial social outcomes by providing officials with an incentive to modify environmental regulations.

Details

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

Keywords

Article
Publication date: 25 June 2024

Jude Chidiebere Anago

This paper aims to examine the alternative financing available for sustainable infrastructure development in Nigeria’s sub-nations. Specifically, the study question is: what…

133

Abstract

Purpose

This paper aims to examine the alternative financing available for sustainable infrastructure development in Nigeria’s sub-nations. Specifically, the study question is: what financial vehicles do sub-nations seek most, and what are the underlying reasons for their preferences?

Design/methodology/approach

The study used a two-round Delphi method, using a questionnaire to gather data from high-ranking government officials in states that have localised sustainable development projects in Nigeria.

Findings

Results show that fundamental to sub-national sustainable infrastructure projects are federal allocations, pension funds, private equity, bonds and concessionary grants. Sub-nationals prefer these options, especially the emphasis on private equity, and the concessional funding through catalytic or blended finance because of their relatively lower or below-market interest rates.

Practical implications

The practical significance of this study is that the state’s policymakers can now identify appropriate strategies that enhance the shift towards these sustainable financing options, which will serve as a key catalyst in their 2030 and beyond vision to accelerate their state's infrastructure climate complaint. Equally, investors possessing funds with such attributes will gain an understanding of a prospective market within Nigeria’s sub-nation.

Social implications

This study aims to improve the development of sustainable infrastructure in Nigeria’s sub-nations, which would have a beneficial effect on society by mitigating the effects of climate change.

Originality/value

The recommendations of this study can contribute to the development of innovative financial models for sub-national infrastructure development, thereby reducing reliance on revenue generated from fossil fuels.

Details

Sustainability Accounting, Management and Policy Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8021

Keywords

Article
Publication date: 18 July 2024

Dylan Kirby, Cormac Hugh MacMahon and Sandra Thompson

In pursuit of objectives, under the European Green Deal, to channel capital flows to sustainable activities, the EU Taxonomy offers clarity, labelling real economic activities as…

Abstract

Purpose

In pursuit of objectives, under the European Green Deal, to channel capital flows to sustainable activities, the EU Taxonomy offers clarity, labelling real economic activities as “sustainable”, based on technical screening criteria. This study of disclosure experiences aims to explore the role of co-evolutionary relationships in the Taxonomy’s effectiveness.

Design/methodology/approach

Co-evolution theory implies a dynamic interplay among sustainable finance stakeholders (SFSs), through adjustment to, impact on and operationalisation of the Taxonomy. Corporate disclosure experiences, including those of financial institutions and related SFS experiences, may reveal co-evolutionary processes. With significant Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs), Irish SFSs provide contextual insight. Semi-structured interviews with a purposive sample of Irish SFSs capture inaugural corporate Taxonomy disclosure experiences.

Findings

A thematic analysis reveals six co-evolutionary processes that facilitate Taxonomy implementation in pursuit of policy objectives: [1] cross-functional reporting; [2] iterative pre-empting and addressing compliance issues; [3] regulation as a catalyst for co-evolution; [4] advanced capacity building; [5] stakeholder adaptation and [6] graduated use of ESG data. Implications for sustainability policy development and management are significant.

Practical implications

Whilst limited to just one EU jurisdiction, given limited prior empirical evidence for sustainable finance regulations from co-evolutionary perspectives, this study highlights a catalytic, yet precautionary role for co-evolution in their transformation effectiveness. As such, they must take account of their potential to stimulate co-evolution and to nurture it in pursuit of their policy objectives.

Social implications

The findings of this study add to a small, but growing body of academic literature on the Taxonomy Regulation, which suggests that a co-evolutionary lens is important for gaining a comprehensive understanding of its early-stage dynamics. From an implementation perspective, the qualitative data reveals actionable implications for regulators and policymakers, such as building capacity, better anticipation of outcomes and investment in data infrastructure.

Originality/value

Unlike existing analyses of disclosures, this study offers a co-evolutionary lens on Taxonomy contributions to sustainable development through qualitative accounts.

Details

Sustainability Accounting, Management and Policy Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8021

Keywords

Article
Publication date: 25 June 2024

Nenavath Sreenu

The research investigates how green bonds and Fintech contribute to advancing sustainable energy adoption in India while addressing the intricate investment risks associated with…

Abstract

Purpose

The research investigates how green bonds and Fintech contribute to advancing sustainable energy adoption in India while addressing the intricate investment risks associated with green initiatives.

Design/methodology/approach

This study employs a stringent approach, conducting an extensive examination of data to analyze the interplay among green bonds, Fintech, and the renewable energy industry in India.

Findings

The study unveils Fintech’s capacity to optimize financing for renewable projects in India by leveraging blockchain technology and digital platforms, enhancing accessibility and investor confidence. Additionally, it underscores the role of green bonds in fostering the development of eco-friendly energy sources.

Originality/value

This research offers novel insights into the dynamic relationship among green bonds, Fintech, and India’s renewable energy sector. It emphasizes the importance of adaptable regulatory frameworks in facilitating sustainability efforts and provides valuable guidance for stakeholders navigating environmental initiatives.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 23 September 2024

Sharmila Devi R., Swamy Perumandla and Som Sekhar Bhattacharyya

The purpose of this study is to explore the complex interplay between technology, personal norms and emotional factors in shaping the sustainable housing choices of millennials in…

Abstract

Purpose

The purpose of this study is to explore the complex interplay between technology, personal norms and emotional factors in shaping the sustainable housing choices of millennials in emerging economies. It integrates the model of goal-directed behavior, technology acceptance model and norm activation model, incorporating both self-interest and prosocial motivations. Key adaptations involve replacing perceived behavioral control with financial self-efficacy and substituting hedonic motivation for anticipated positive emotions. Moreover, it introduces location as a practical anchor.

Design/methodology/approach

A quantitative, cross-sectional and descriptive research design was used in this study. Data were gathered from a sample of 610 millennial residential real estate investors across Indian smart cities. A multistage stratified sampling technique was used to ensure a representative sample. For data analysis, partial least squares structural equation modeling was used. The analysis focused on hypothesis testing to examine the relationships between the constructs of interest. Bootstrap t-values and effect sizes were used to assess the significance and magnitude of these relationships, respectively.

Findings

One of the key findings of this study was the establishment of significant positive relationships between awareness of consequences, ascription of responsibility and personal norms with behavioral intentions. This underscored the importance of personal ethical considerations in shaping intentions. Perceived usefulness and ease of use were found to significantly influence attitudes positively, highlighting the relevance of these factors in forming favorable attitudes toward behaviors. Attitude, subjective norms, financial self-efficacy and location played significant positive roles. However, negative anticipated emotions decreased desire. This illustrated the complex role emotions play in motivational processes. The study also revealed that subjective norms did not significantly contribute to shaping personal norms. This indicated a potential decoupling of societal expectations from personal ethical obligations in the decision-making process.

Practical implications

This study offers actionable insights for both policymakers and real estate developers. For policymakers, the findings highlight the need to craft initiatives that go beyond mere awareness, instead fostering a deep sense of personal responsibility and environmental stewardship among potential homebuyers. For real estate developers, the emphasis on financial self-efficacy and location suggests a strategy shift toward designing sustainable homes that not only meet environmental standards but also align with buyers’ financial confidence and geographic preferences. Together, these strategies can drive a more widespread adoption of sustainable housing, making sustainability a tangible and appealing choice for millennials.

Originality/value

To the best of the authors’ knowledge, this empirical research study was one of the first studies that contributed to the literature by integrating the model of goal-directed behavior, technology acceptance model and norm activation model. This study thus offered a nuanced understanding of the interplay between normative influences, usability perceptions, ethical considerations and emotions in the context of behavioral intentions.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 2 September 2024

Bakir Illahi Dar, Nemer Badwan and Jatinder Kumar

The purpose of this study is to present a bibliometric and network analysis that uses the Scopus and Dimension databases to provide new insights into the progression toward the…

Abstract

Purpose

The purpose of this study is to present a bibliometric and network analysis that uses the Scopus and Dimension databases to provide new insights into the progression toward the study of sustainable economic development.

Design/methodology/approach

This analysis has been drawn on 665 papers published between 2015 and 2023. Bibliometric analysis characterizes a research topic by identifying leading nations, the most significant authors and expressive publications. Network analysis revealed keyword evolution over time, co-citation patterns and study grouping. Content analysis was used to identify major topic in the discipline, with a focus on their interrelationships. Each publication in the data set is briefly described, along with its methodological approach.

Findings

The results of this study show that green finance plays a major role in long-term economic growth, having a significant influence on the preservation of environmental quality, economic efficacy and a more comprehensive economic system. Financial technology also accelerates the transition to a carbon-neutral economy by enhancing the beneficial effects of green finance on aspects of the economic system and environmental conservation.

Research limitations/implications

The investigation is based only on Scopus and Dimensions-indexed journal articles. However, additional studies should incorporate publications from other reputable databases, such as Web of Science, PubMed and Science Direct, for the bibliometric analysis, so that the findings of the model analysis become more reliable and valid with examination of more documents. The visualization of similarity viewer was used for data analysis in the study, there is a scope for using other tools such as Biblioshiney and CitNet Explorer.

Practical implications

To support long-term economic growth, authorities should encourage Fintech companies to actively participate in various green finance initiatives and environmental conservation businesses. Financial managers should facilitate the integration of technology and green finance for financial services. It is important to encourage institutional and individual investors alike to look into more environmentally friendly ways to invest and save money. Policymakers should provide a platform for global awareness and government agencies should enhance their recommendations to state governments to increase the efficacy of green finance.

Originality/value

This study contributes to the literature by investigating the relationship between Fintech and green financing. This study holds significance for financial intermediaries, industrialists, investors and policymakers by providing insights into the integration of Fintech with green finance for sustainable development. These findings affirm the pivotal role of Fintech and green finance in fostering sustainable economic development. The novelty of the topic and the variety of publications in which it has been published demonstrate that sustainable economic development has piqued the interest of a wide range of areas.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8394

Keywords

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