Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs)
<p>This study aims to evaluate risk and return characteristics of Islamic funds in comparison with SRI and investigate the possible synergies between the two in the light of the SDGs. The study also compares the financial performance of Islamic funds with conventional funds and Islamic market...
محفوظ في:
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| مؤلفون آخرون: | |
| منشور في: |
2020
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| الموضوعات: | |
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إضافة وسم
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| _version_ | 1864513512838004736 |
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| author | Abdurahman J. Yesuf (16937052) |
| author2 | Dalal Aassouli (16960260) |
| author2_role | author |
| author_facet | Abdurahman J. Yesuf (16937052) Dalal Aassouli (16960260) |
| author_role | author |
| dc.creator.none.fl_str_mv | Abdurahman J. Yesuf (16937052) Dalal Aassouli (16960260) |
| dc.date.none.fl_str_mv | 2020-08-22T09:00:00Z |
| dc.identifier.none.fl_str_mv | 10.1016/j.heliyon.2020.e04562 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/journal_contribution/Exploring_synergies_and_performance_evaluation_between_Islamic_funds_and_socially_responsible_investment_SRIs_in_light_of_the_Sustainable_Development_Goals_SDGs_/25958152 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Economics Economic theory Philosophy and religious studies Religious studies Islamic finance Islamic funds Socially responsible investments Islamic sustainable investing fund Financial market Willingness-to-Pay Corporate social responsibility Business |
| dc.title.none.fl_str_mv | Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs) |
| dc.type.none.fl_str_mv | Text Journal contribution info:eu-repo/semantics/publishedVersion text contribution to journal |
| description | <p>This study aims to evaluate risk and return characteristics of Islamic funds in comparison with SRI and investigate the possible synergies between the two in the light of the SDGs. The study also compares the financial performance of Islamic funds with conventional funds and Islamic market benchmarks. The analysis was carried out using the absolute and risk-adjusted-performance evaluation techniques based on data collected from 11 countries distributed in four geographical regions. The results demonstrate that there was no statistically significant difference between the returns of Islamic funds and SRI funds in all regions. Islamic funds were also the least risk-sensitive instruments compared to their counterparts in most of the regions. The results indicate that embedding ESG/SDGs considerations into Islamic funds investment decisions do not adversely affect their returns. Rather, it enhances their positive impact and contribution to mitigate the SDGs financing gaps. The analysis further demonstrates the possible synergies between the two categories of funds in line with Shariah principles. Hence, the study highlights the importance of developing a new asset class, “Shariah-compliant SRIs”, that is both Shariah-compliant and integrates ESG/SDGs considerations. The new asset class will target a wider investor base including both Shariah and impact investors, which will support the achievement of the SDG agenda.</p><h2>Other Information</h2> <p> Published in: Heliyon<br> License: <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">http://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1016/j.heliyon.2020.e04562" target="_blank">https://dx.doi.org/10.1016/j.heliyon.2020.e04562</a></p> |
| eu_rights_str_mv | openAccess |
| id | Manara2_e9ba6d0bc9b6f9e4a359549c99a6bc1a |
| identifier_str_mv | 10.1016/j.heliyon.2020.e04562 |
| network_acronym_str | Manara2 |
| network_name_str | Manara2 |
| oai_identifier_str | oai:figshare.com:article/25958152 |
| publishDate | 2020 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs)Abdurahman J. Yesuf (16937052)Dalal Aassouli (16960260)EconomicsEconomic theoryPhilosophy and religious studiesReligious studiesIslamic financeIslamic fundsSocially responsible investmentsIslamic sustainableinvesting fundFinancial marketWillingness-to-PayCorporate social responsibilityBusiness<p>This study aims to evaluate risk and return characteristics of Islamic funds in comparison with SRI and investigate the possible synergies between the two in the light of the SDGs. The study also compares the financial performance of Islamic funds with conventional funds and Islamic market benchmarks. The analysis was carried out using the absolute and risk-adjusted-performance evaluation techniques based on data collected from 11 countries distributed in four geographical regions. The results demonstrate that there was no statistically significant difference between the returns of Islamic funds and SRI funds in all regions. Islamic funds were also the least risk-sensitive instruments compared to their counterparts in most of the regions. The results indicate that embedding ESG/SDGs considerations into Islamic funds investment decisions do not adversely affect their returns. Rather, it enhances their positive impact and contribution to mitigate the SDGs financing gaps. The analysis further demonstrates the possible synergies between the two categories of funds in line with Shariah principles. Hence, the study highlights the importance of developing a new asset class, “Shariah-compliant SRIs”, that is both Shariah-compliant and integrates ESG/SDGs considerations. The new asset class will target a wider investor base including both Shariah and impact investors, which will support the achievement of the SDG agenda.</p><h2>Other Information</h2> <p> Published in: Heliyon<br> License: <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">http://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1016/j.heliyon.2020.e04562" target="_blank">https://dx.doi.org/10.1016/j.heliyon.2020.e04562</a></p>2020-08-22T09:00:00ZTextJournal contributioninfo:eu-repo/semantics/publishedVersiontextcontribution to journal10.1016/j.heliyon.2020.e04562https://figshare.com/articles/journal_contribution/Exploring_synergies_and_performance_evaluation_between_Islamic_funds_and_socially_responsible_investment_SRIs_in_light_of_the_Sustainable_Development_Goals_SDGs_/25958152CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/259581522020-08-22T09:00:00Z |
| spellingShingle | Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs) Abdurahman J. Yesuf (16937052) Economics Economic theory Philosophy and religious studies Religious studies Islamic finance Islamic funds Socially responsible investments Islamic sustainable investing fund Financial market Willingness-to-Pay Corporate social responsibility Business |
| status_str | publishedVersion |
| title | Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs) |
| title_full | Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs) |
| title_fullStr | Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs) |
| title_full_unstemmed | Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs) |
| title_short | Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs) |
| title_sort | Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs) |
| topic | Economics Economic theory Philosophy and religious studies Religious studies Islamic finance Islamic funds Socially responsible investments Islamic sustainable investing fund Financial market Willingness-to-Pay Corporate social responsibility Business |