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Article
Publication date: 6 May 2021

Tauhidul Islam Tanin, Abu Umar Faruq Ahmad and Aishath Muneeza

This study explores the practical application of the Shariah screening process and how it could be enhanced by converging the same with the ethical screening of stocks.

Abstract

Purpose

This study explores the practical application of the Shariah screening process and how it could be enhanced by converging the same with the ethical screening of stocks.

Design/methodology/approach

This study adopts a qualitative research methodology by combining the qualitative descriptive approach and content analysis.

Findings

The findings of this research suggest that there is scope to converge ethical screening of stocks with Shariah Screening as the lex loci applicable to Shariah screening is derived from Shariah, which considers ethics as part of determining its rules.

Practical implications

The data from this study reveal several practical applications, the ultimate goal of which is to help the policymakers and stakeholders understand the relevance of the Shariah screening of stocks and get a streamlined screening process, paving the way to enhance the same using ethical screening criteria to develop its function to become much more relevant irrespective of the denomination of faiths.

Originality/value

This is original research, which is expected to contribute to understanding the extent to which Shariah screening can be enhanced by integrating the ethical stock screening dimension to it.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 7 September 2012

Tamsin Newlove‐Delgado, Elizabeth Murphy and Tamsin Ford

The purpose of this paper is to evaluate the feasibility of a screening test for looked after children in order to identify undetected psychiatric disorders.

Abstract

Purpose

The purpose of this paper is to evaluate the feasibility of a screening test for looked after children in order to identify undetected psychiatric disorders.

Design/methodology/approach

Children aged four to 16 in care in one London Borough for four consecutive months were eligible for screening. Carers, teachers and children aged over 11 were asked to complete the Strengths and Difficulties Questionnaire (SDQ). Where the SDQ suggested that a psychiatric disorder was “possible” or “probable”, participants were then invited to complete the Developmental and Well‐Being Assessment, which was rated by a senior psychiatrist to generate diagnoses if appropriate.

Findings

The paper finds that over one year, 23 children were eligible for screening. A total of 18 underwent the initial stage of screening, and seven were subsequently diagnosed with a formal psychiatric disorder.

Originality/value

This study illustrates the unmet need for mental health interventions among children looked after by the local authority and confirms the feasibility of a simple screening protocol.

Details

Journal of Children's Services, vol. 7 no. 3
Type: Research Article
ISSN: 1746-6660

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Article
Publication date: 1 November 1997

Rodney Wilson

Reports that there are lessons which can be learned from the Western ethical “green” finance industry for Islamic investors. States that these are that the criteria for…

Abstract

Reports that there are lessons which can be learned from the Western ethical “green” finance industry for Islamic investors. States that these are that the criteria for investment selection are different, and the modes of permissible financing may also differ, but there are screening and reporting techniques which are of potential importance to both groups of investors. First addresses ethical fund management issues, which should shed some light on the dilemmas facing Islamic investors. Goes on to consider criteria for haram and halal investment, as well as the implications of company capital gearing or leverage for riba. Covers investment specific issues, including the treatment of capital gains in Islam and the evaluation of the conduct of market participants. Finally, surveys emerging markets in the Islamic world, as these are of obvious interest to Muslim investors wishing to broaden their portfolios.

Details

International Journal of Social Economics, vol. 24 no. 11
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 1 May 2006

L. Manning, R.N. Baines and S.A. Chadd

Public concerns with issues including animal welfare and environmental management and stewardship have required organisations within the food supply chain to formally…

Abstract

Purpose

Public concerns with issues including animal welfare and environmental management and stewardship have required organisations within the food supply chain to formally demonstrate their commitment to ethical issues. This has led to the development of corporate social responsibility strategies and the use of ethical risk assessment models. The purpose of the study is to review both qualitative and quantitative methods of assessment.

Design/methodology/approach

This paper begins with a discussion on ethical issues. This is followed by an evaluation of current mechanisms for determining both scientific‐ and value‐based approaches to ethical food policy.

Findings

Legislation defines governmental policy but it does not define what is “good” or “right” and this is the role of ethics. In order to have ethic reasoning embedded in food policy either at governmental or at organisational level, policy makers must be able to understand and evaluate moral arguments, be fair‐minded and make well‐reasoned decisions. Consumers need to trust that both policy makers and those manufacturing and supplying food make decisions and provide information which is accessible, accurate and affords reasoned choice when purchasing food products.

Originality/value

This paper provides a review of ethical methodology and mechanisms for assisting in ethical decision making and will be of interest to academics and to industry.

Details

British Food Journal, vol. 108 no. 5
Type: Research Article
ISSN: 0007-070X

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Book part
Publication date: 31 December 2013

Ludovic Urgeghe

Purpose – These last three years, the global reputation of microfinance has been damaged by some major crises, notably in India. The Microfinance Investment Vehicles…

Abstract

Purpose – These last three years, the global reputation of microfinance has been damaged by some major crises, notably in India. The Microfinance Investment Vehicles (MIVs), funded by public money and socially inclined investors, are believed by observers to be part of the causes of the crises (von Stauffenberg & Rozas, 2011). As a consequence, they now have to demonstrate their commitment to the social mission of microfinance. This chapter aims at putting forward the debate on MIVs’ ability to effectively contribute to the social mission of microfinance by analyzing how they integrate social performance in their investment decisions.

Methodology/approach – Analysis of interviews with microfinance fund managers based on a framework of recognized impediments to a socially responsible approach in investing.

Findings – While social performance is recognized by respondents to be an important topic for the industry, fund managers still do not give a strong role to social criteria in investment decisions. The findings of the qualitative analysis in the chapter demonstrate that this is linked to a number of major impediments such as the tendency to believe that microfinance is social per se, the lack of standardization in social performance tools, and also a loose regulation regarding social reporting.

Research limitations/implications – The findings of the study are limited due to the relatively small sample size and the focus on fund managers’ answers only. Future research could investigate the viewpoints of different stakeholders in the investment process, such as the back investors of microfinance funds or the regulatory institutions.

Originality/value – To the best of our knowledge, this is the first attempt to get insights on the impediments to a stronger focus on social performance by MIVs, with the application of a recognized framework from the Socially Responsible Investment (SRI) literature.

Details

Institutional Investors’ Power to Change Corporate Behavior: International Perspectives
Type: Book
ISBN: 978-1-78190-771-9

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Article
Publication date: 19 December 2017

Khaled Saadaoui and Teerooven Soobaroyen

This paper aims to analyse the similarities and differences in the methodologies adopted by corporate social responsibility (CSR) rating agencies.

Abstract

Purpose

This paper aims to analyse the similarities and differences in the methodologies adopted by corporate social responsibility (CSR) rating agencies.

Design/methodology/approach

The authors gather secondary and primary evidences of practices from selected agencies on the methodologies and criteria they rely upon to assess a firm’s CSR performance.

Findings

The authors find not only evidence of similarities in the methodologies adopted by the CSR rating agencies (e.g. the use of environment, social and governance themes, exclusion criteria, adoption of positive criteria, client/“customised” input, quantification) but also several elements of differences, namely, in terms of the thresholds for exclusion, transparent vs confidential approach, industry-specific ratings and weights for each dimension. Drawing from Sandberg et al.’s (2009) conceptualisations, the authors tentatively argue that this mixed picture may reflect competing organisational pressures to adopt a differentiation approach at the strategic and practical levels whilst recognising, and incorporating, the “globalising” tendencies of the CSR business at the terminological levels.

Social implications

Although these data are based on a relatively small number of agencies, the findings and analysis convey some implications for users of CSR ratings and policymakers, particularly in light of the recent Paris 2016 Agreement on Climate Change and the increased emphasis on the monitoring of social, environmental and governance performance.

Originality/value

The authors contribute to the literature by highlighting how key intermediate rating organisations operationalise notions of CSR.

Details

Sustainability Accounting, Management and Policy Journal, vol. 9 no. 1
Type: Research Article
ISSN: 2040-8021

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Article
Publication date: 5 March 2018

En Te Chen and Yunieta Anny Nainggolan

Despite the benefits of international diversification, the home equity bias phenomenon is well documented in the portfolio choice literature. The purpose of this paper is…

Abstract

Purpose

Despite the benefits of international diversification, the home equity bias phenomenon is well documented in the portfolio choice literature. The purpose of this paper is to investigate whether the same investment behavior applies to domestic socially responsible investments (SRIs) where ethical screenings should be the selection criteria.

Design/methodology/approach

The authors apply the model by Coval and Moskowitz (1999), Grinblatt and Keloharju (2001) and Agarwal and Hauswald (2010) to uncover the effect of distance relative to screenings on SRI domestic portfolio choice. For the first time, the authors test the robustness of distance effect by using time bias, which is the travel time between the fund manager and the company’s headquarter.

Findings

The authors find that SRIs exhibit a strong preference for locally headquartered firms. After controlling for screening activity and other fund characteristics, the authors still find a strong distance bias in SRI fund portfolio decision-making. The authors find that this bias is mostly observed in SRI fund with social screening and that fund holding characteristics determine the propensity of fund managers to invest locally. The results suggest that the local bias puzzle exists in SRI.

Research limitations/implications

This study provides avenue for future research to examine whether the same local bias is found in SRI investment in other countries where they have different characteristics and behavior. Also, the evidence that local bias exists in SRI investment may need further analysis as to whether this is conflicting with the objectives of SRI, which focus more on ethical beliefs.

Practical implications

The results suggest that many local firms in the same city currently held by an SRI fund will not be held by this fund if it is in another city. The implications of the findings are that geographic proximity, along with ethical screenings, is an important dimension to how SRI fund invests.

Originality/value

This study is the first that examines local bias in SRI funds by using portfolio holding data.

Details

Social Responsibility Journal, vol. 14 no. 1
Type: Research Article
ISSN: 1747-1117

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Article
Publication date: 1 April 1997

Bodo B. Schlegelmilch

Ethical investment funds are among the fastest growing investment vehicles in the UK. Explores some of the environmental changes leading to the popularity of these funds…

Abstract

Ethical investment funds are among the fastest growing investment vehicles in the UK. Explores some of the environmental changes leading to the popularity of these funds and briefly reviews some of the screening criteria used to establish ethical portfolios. Based on a sample of 172 investment professionals, analyses the relative importance of ethical and environmental screening compared to the traditional yardsticks of liquidity, return and risk. Discusses implications for the marketing of ethical investment funds and identifies future research directions.

Details

International Journal of Bank Marketing, vol. 15 no. 2
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 2 November 2015

Anett Wins and Bernhard Zwergel

This paper aims to provide an overview of the literature to point out similarities and differences among private ethical investors across countries and time. Over the past…

Abstract

Purpose

This paper aims to provide an overview of the literature to point out similarities and differences among private ethical investors across countries and time. Over the past three decades, many surveys have been conducted to advance the understanding of the demographic characteristics, motivation and morals of private ethical investors across countries and time. To date, the survey-based evidence on private investors into ethical funds is geographically rather segmented, and the research questions are fairly diverse. This permits only very temporally or regionally selective conclusions. Thereby, the authors identify interesting topics for future research.

Design/methodology/approach

To identify the relevant literature for our review, the authors carried out a structured Boolean keyword search using major library services and databases.

Findings

When questions about negative screening criteria are presented in a direct investment context, the consensus of private ethical investors “worldwide” (on average) is that social screening issues are most important, followed by ecological and moral topics. The percentage of ethical funds in the fund portfolio of the average private ethical investor in Europe seems to increase when the investor exhibits high degrees of pro-social attitudes and perceived consumer effectiveness. European private ethical investors are of the opinion that ethical funds perform worse but are less risky than conventional funds.

Practical implications

The authors make suggestions on how investment companies should design their funds so that they can attract more socially responsible investors.

Originality/value

The paper is of particular value because it focuses on private investors in the fast growing retail market of socially responsible investment funds.

Details

Qualitative Research in Financial Markets, vol. 7 no. 4
Type: Research Article
ISSN: 1755-4179

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Article
Publication date: 15 March 2010

Neil Douglas

A fictionalised case report is used to highlight the author's experience of antenatal screening for Down's syndrome in a primary care setting. The case of a Bangladeshi…

Abstract

A fictionalised case report is used to highlight the author's experience of antenatal screening for Down's syndrome in a primary care setting. The case of a Bangladeshi woman who has a strongly positive result for a screening test for which she has not given informed consent is examined from several different ethical standpoints. The dilemma posed by the case is resolved using a narrative ethical approach.

Details

Advances in Mental Health and Learning Disabilities, vol. 4 no. 1
Type: Research Article
ISSN: 1753-0180

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