The religious fringe of Corporate Social Responsibility

被引：9

作者：

Hassan, Kabir ^{[1
]}

Chiaramonte, Laura ^{[2
]}

Dreassi, Alberto ^{[3
]}

Paltrinieri, Andrea ^{[4
]}

Pisera, Stefano ^{[5
]}

机构：

[1] Univ New Orleans, Dept Econ & Finance, New Orleans, LA 70148 USA

[2] Univ Verona, Dept Business Adm, I-37100 Verona, Italy

[3] Univ Trieste, Dept Econ Business Math & Stat, I-34123 Trieste, Italy

[4] Univ Cattolica Sacro Cuore, Dept Econ & Business Adm, I-20123 Milan, Italy

[5] Univ Udine, Dept Econ & Stat, I-33100 Udine, Italy

来源：

INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2022年 / 80卷

关键词：

Sharia-compliance; Islamic finance; Islamic corporate finance; Non-financial firms; Corporate social responsibility; Environmental social and governance; Differences-in-differences; Natural disasters; Social events; Religion; ETHICS; DISCLOSURE; STAKEHOLDERS; PERFORMANCE; GOVERNANCE;

D O I：

10.1016/j.iref.2022.02.003

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In this paper, we explore how the adherence to Sharia principles in non-financial firms impacts on Corporate Social Responsibility (CSR) aptitudes, proxied by Environmental, Social and Governance (ESG) scores. By employing a worldwide dataset of 4,725 entities from 2002 to 2018, we find that Sharia-compliant firms are more likely to engage in sustainable and responsible practices, especially towards the environmental dimension. Evidence from a set of quasi-natural experiments, built around a range of significant natural disasters and social events, reveals a greater response of Sharia firms to CSR engagement, confirming the role played by faith-based business ethics in Islamic entities. Our results offer precious insight to policymakers and investors, suggesting that the integration of ethical and religious-oriented incentives can improve sustainability practices and resilience of firms.

引用

页码：243 / 265

页数：23

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