2019
DOI: 10.1002/tie.22038
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Islamic business scorecard and the screening of Islamic businesses in a cross‐country setting

Abstract: Screening of shari'ah compliant firms is incomplete without the inclusion of ethical and social responsibilities. The existing “activity screen” does not directly capture the ethical and social footprints of firms. The purpose of this study is to create and test an Islamic business scorecard that combines activity, ethical, and social responsibilities that Islamic businesses must comply with. This new Islamic business scorecard replaces the existing activity screens and is added to the financial screens to cre… Show more

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Cited by 15 publications
(11 citation statements)
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“…5,6 Moreover, researchers described Islamic law-compliant institutions as ethical, responsible, and philanthropic (Ullah et al, 2018), having broader objectives covering social values and ethical conduct (Belal et al, 2015), promoting a social and ethical identity (Haniffa & Hudaib, 2007), and giving equal attention to social goals and profit making (Aribi & Arun, 2015). Hassan et al (2019) describe Islamic firms as "caretakers" of social and financial resources that must promote ethical and socially responsible activities (see also Dusuki, 2008;Nienhaus, 2011). Similarly, HSBC defines Islamic finance as "a unique form of investment which corresponds with the values of socially responsible investing."…”
Section: Csr Risk and Propensity Of Failurementioning
confidence: 99%
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“…5,6 Moreover, researchers described Islamic law-compliant institutions as ethical, responsible, and philanthropic (Ullah et al, 2018), having broader objectives covering social values and ethical conduct (Belal et al, 2015), promoting a social and ethical identity (Haniffa & Hudaib, 2007), and giving equal attention to social goals and profit making (Aribi & Arun, 2015). Hassan et al (2019) describe Islamic firms as "caretakers" of social and financial resources that must promote ethical and socially responsible activities (see also Dusuki, 2008;Nienhaus, 2011). Similarly, HSBC defines Islamic finance as "a unique form of investment which corresponds with the values of socially responsible investing."…”
Section: Csr Risk and Propensity Of Failurementioning
confidence: 99%
“…More interestingly, DJIM and S&P, which were created by the same institute, use different liquidity thresholds (while DJIM uses 33%, S&P uses 49%). Hassan et al (2019) claim that these stark differences led to the distrust and insecurity of Islamic investors and the emergence of fatwa (religious ruling) shopping, which can hinder the credibility of the entire Islamic finance industry. To fully understand the practical difficulties that can emerge from such severe disparities among indices, we compare four of the most famous Islamic law compliance indices.…”
Section: Compliance With Islamic Law: Threshold-style Versus Index-style Measuresmentioning
confidence: 99%
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