Academic literature on the topic 'Moral and ethical aspects of Investment banking'
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Journal articles on the topic "Moral and ethical aspects of Investment banking"
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Bidabad, Bijan, and Mahshid Sherafati. "Operational ethical banking in Rastin Banking." International Journal of Law and Management 58, no. 4 (July 11, 2016): 416–43. http://dx.doi.org/10.1108/ijlma-07-2015-0037.
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Purpose This paper aims to discuss some of the operational Islamic banking features considered in ethical banking as the aspects of Rastin Banking. Ethical banking is a branch of “ethic economics” and a narrow expression of a number of Islamic banking aspects. Design/methodology/approach These features are often involved in the discussions under the topic of internal control and describe the operational characteristics of ethical banking within the framework of Rastin Banking. Findings This study refers to the principles of Rastin Banking, including operational, financial, economic, ethical, social, legal, international and organizational principles. Additionally, it takes into account some of the internal control systems. Research limitations/implications Converting ethical codes into executable laws and regulations needs sophistication, and the art of codification in this subject can be observed in the present paper. Practical implications As far as the ethical behaviour of the assessor and trustee is concerned, the necessities of honesty, belief, virtuosity, rectitude and compliance with moral values, as well as reward and punishment mechanisms, are operationally examined. Transparency, governance and disclosure of information are the other components. The methods of auditing, accounting, inspection and preservation of Rastin Banking achievements are amongst the other matters of concern. Social implications An assiduous attention to the operational details of each of the above-said discussions revealed that the Islamic banking components are capable of covering the topics and discussions beyond ethical banking. Originality/value This paper fulfils an identified need to solve the practical ethical problem in operational banking.
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Rogowski, Robert. "Ethical problems at work in the opinion of employees of selected banks." Annales. Etyka w Życiu Gospodarczym 21, no. 8 (May 14, 2018): 57–70. http://dx.doi.org/10.18778/1899-2226.21.8.05.
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The paper presents ethical problems faced by the employees of selected banks in Poland. The theoretical section of the paper describes the codes of ethics in banking, especially those concerning the moral aspects of working in banking. The empirical part of the paper presents the results of research on the ethos of bank workers. Quantitative and qualitative analyses were carried out using a special Internet forum devoted to the banking sector. The study includes a content analysis of comments posted by the bank employees on the Internet forum.
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Thiam, Mouhamed El Bachire, Jonathan Liu, and John Aston. "Ignoring personal moral compass: factors shaping bankers’ decisions." Journal of Financial Regulation and Compliance 27, no. 3 (July 8, 2019): 357–79. http://dx.doi.org/10.1108/jfrc-12-2017-0110.
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Purpose The purpose of this paper is to increase our understanding of the challenges the banking industry continues to face from an ethics standpoint more than a decade after the credit crisis. Since 2007, there has been renewed interest in the way professional ethics is integrated within the banking culture. With a public that has become more sensitive towards ethical and corporate governance failures, the banking industry has been at the receiving end of strong ethical criticism. Yet, in spite of the regulatory response to the crisis, ethics is still a major issue in an industry where the corporate governance systems implemented by companies have failed to control employee behaviours, even in institutions branding themselves as ethical banks. Design/methodology/approach This paper studies factors inside and around institutions in the banking industry that impact the moral anomie in bankers’ professional environment. This paper applies an ordinary least square regression analysis, preceded by exploratory and confirmatory factor analysis, to test the hypothesised relations between anomie and the factors proposed. Findings The results show that long-term orientation, strategic aggressiveness and competitive intensity do have an influence on anomie. These results are compared to previous research applied in non-financial industries and prompt the strengthening of corporate governance systems in financial companies with aggressive corporate cultures. Originality/value The paper therefore introduces the factors that lead bankers to ignore the morals they gained from society and provide a better understanding of the reasons behind the deviant behaviours that caused the crisis a decade ago. It represents a crucial first step for future policymaking that fills an important gap in the financial regulation literature. Indeed, the lack of understanding of the factors dictating behaviours in the industry meant that regulatory changes in the past decade have mostly focussed on technical aspects of the problem (e.g. new capital structure requirements) and produced few answers to address the ethical challenges.
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Al-Roubaie, Amer. "Islamic Finance: A Bulwark against Contagion in the Global Banking System." ICR Journal 1, no. 2 (December 15, 2009): 303–21. http://dx.doi.org/10.52282/icr.v1i2.749.
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The objective of this article is to shed some light on the performance of Islamic financial institutions in view of the current global financial crisis. Islamic financial activities and products are conducted in compliance with the shari’ah and, therefore, they are less vulnerable to changes in monetary variables than conventional financial products. Due to the prohibition of interest and because of ethical and moral constraints, Islamic banks are restricted from investment in speculative transactions which lessens default risk and enhances effectiveness of liquidity management. Islamic modes of investment contribute to society’s wellbeing through the creation of wealth and employment to ensure economic stability and human development. In Islam, knowledge, information and work are the main ingredients for success (falah). In an information-intensive world, honesty, accountability and transparency are vital for market performance and business activities. The global financial crisis has caused instability in financial markets weakening confidence in the global economic system as well as increasing uncertainty about future macroeconomic trends.
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Hrytsiv, Vitaliia. "Ensuring the professional and ethical orientation of the personality of a future specialist in banking." Scientific visnyk V.O. Sukhomlynskyi Mykolaiv National University. Pedagogical Sciences 65, no. 2 (2019): 74–78. http://dx.doi.org/10.33310/2518-7813-2019-65-2-74-78.
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The article highlights theoretical aspects of the professional and ethical orientation of the personality of a future specialist in banking. The author consistently examines the key concepts of the problem under study and defines the relationship between them. On the basis of this, specification of the professional and ethical orientation of the personality of a future specialist in the industry has been disclosed. It is shown that the professional and ethical orientation of the personality of a specialist in banking is strengthening of his/her positive attitude towards the future profession, interests, inclinations and abilities to it, the desire to improve his/her qualifications, the development of ideals, views, beliefs about the importance of following the ethical norms in professional activity. The author considers the need to increase the interest of students in studying the problems of professional ethics by means of potential of the educational process. The content of educational materials, a review of literature on the topic, the emphasis on the practical significance of the material and its importance for the profession are determined as important aspects for achieving set goals. It is pointed out that the basis of professional and ethical knowledge is the knowledge acquired in the study of such disciplines as «Ethics and Aesthetics», «Ethics of business communication», «Psychology of business success». The necessity to combine the material of the Humanities with the current problems of banking and the life aspirations of students and to help them to determine their value orientations, to enrich their moral personality potential has been noted in the article. According to the author the professional interest acquired by the students should have special personal content, related to their daily life and future life prospects. In order to do this, it is important to emphasize the importance of professional and ethical knowledge in the activities of the banking industry, to reveal its entirety with the ethical content of the chosen profession at the announcement of the topic at each class.
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Bremer, Anders, María Jiménez Herrera, Christer Axelsson, Dolors Burjalés Martí, Lars Sandman, and Gian Luca Casali. "Ethical values in emergency medical services." Nursing Ethics 22, no. 8 (October 28, 2014): 928–42. http://dx.doi.org/10.1177/0969733014551597.
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Background: Ambulance professionals often address conflicts between ethical values. As individuals’ values represent basic convictions of what is right or good and motivate behaviour, research is needed to understand their value profiles. Objectives: To translate and adapt the Managerial Values Profile to Spanish and Swedish, and measure the presence of utilitarianism, moral rights and/or social justice in ambulance professionals’ value profiles in Spain and Sweden. Methods: The instrument was translated and culturally adapted. A content validity index was calculated. Pilot tests were carried out with 46 participants. Ethical considerations: This study conforms to the ethical principles for research involving human subjects and adheres to national laws and regulations concerning informed consent and confidentiality. Findings: Spanish professionals favoured justice and Swedish professionals’ rights in their ambulance organizations. Both countries favoured utilitarianism least. Gender differences across countries showed that males favoured rights. Spanish female professionals favoured justice most strongly of all. Discussion: Swedes favour rights while Spaniards favour justice. Both contexts scored low on utilitarianism focusing on total population effect, preferring the opposite, individualized approach of the rights and justice perspectives. Organizational investment in a utilitarian perspective might jeopardize ambulance professionals’ moral right to make individual assessments based on the needs of the patient at hand. Utilitarianism and a caring ethos appear as stark opposites. However, a caring ethos in its turn might well involve unreasonable demands on the individual carer’s professional role. Since both the justice and rights perspectives portrayed in the survey mainly concern relationship to the organization and peers within the organization, this relationship might at worst be given priority over the equal treatment and moral rights of the patient. Conclusion: A balanced view on ethical perspectives is needed to make professionals observant and ready to act optimally – especially if these perspectives are used in patient care. Research is needed to clarify how justice and rights are prioritized by ambulance services and whether or not these organization-related values are also implemented in patient care.
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Santos, Maiara Rodrigues dos, Emanuelle Caires Dias Araújo Nunes, Isabella Navarro Silva, Kátia Poles, and Regina Szylit. "The meaning of a “good nurse” in pediatric care: a concept analysis." Revista Brasileira de Enfermagem 72, no. 2 (April 2019): 494–504. http://dx.doi.org/10.1590/0034-7167-2018-0497.
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ABSTRACT Objective: to analyze the attributes, antecedents and consequences of the concept a “good nurse” in the context of Pediatrics. Method: concept analysis study based on Rodgers’ evolutionary method. Theoretical stage consisted of searching for articles in the CINAHL, Embase and Pubmed databases and a practical stage of semi-structured interviews with pediatric nurses. The final analysis unified the two stages by categories of antecedents, attributes and consequences of the concept. Results: 20 articles and 10 interviews were analyzed revealing as antecedents aspects related to education, scientific development and ethical-moral skills and values. Responsibility, compassion, honesty and advocacy stand out as attributes of the “good nurse.” The consequences describe implications for children and families, as well as for professionals. Final Consideration: the analysis of the concept of the “good nurse” allowed us to clarify fundamental aspects for the execution of good practices, establishing parameters for investment in professional development programs.
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Aambø, Arild Kjell. "Ethics in cross-cultural encounters: a medical concern?" Medical Humanities 46, no. 1 (February 18, 2019): 22–30. http://dx.doi.org/10.1136/medhum-2018-011546.
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Modern medicine’s investment in the disembodied, objective ‘science’ of biomedicine, where patients are transformed from suffering subjects to objects of investigation, calls for heightened ethical awareness. Around the world, ethical codes of conduct emphasise beneficence and non-maleficence. Lately, we have also seen a quest for autonomy and equitable healthcare for diverse populations. However, these tenets alone do not effectively address the problems which regularly occur in transcultural consultations. By developing a ’space for reflection' based on selected writings of the moral philosophers Axel Honneth, Emmanuel Levinas and Hans Jonas, my aim is to cast light on this issue. Given the differing aspects of the doctor-patient relationship, clearly there are no clear-cut rules to obey. However, a thematic analysis of a quote from a Somali, female refugee, supported by some other studies on medical practice, suggests that, metaphorically speaking, within the developed space for reflection, medical practice has worked itself into a corner. By neglecting the patient as a social being, lacking openness to alterity, and not conveying needed information, they make it very difficult for patients to take responsibility for their situation. In spite of doctors’ benevolence, the result is alienation, increased suffering and thus, potential harm. Similar tendencies are reflected in a number of recent studies on medical consultations. Therefore, rather than blaming the single doctor for moral deceit, we should see these tendencies as a ‘forgetfulness of recognition’ that affects the medical profession, a disturbance which source probably is hidden in doctors training.
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Darsono, Darsono, and Darwanto Darwanto. "Strengthening the MSME Through Institutional Cooperation Improvement Between MSME and Sharia Microfinance Institutions (SMFI)." Jurnal Ilmiah Al-Syir'ah 17, no. 1 (June 30, 2019): 65. http://dx.doi.org/10.30984/jis.v17i1.809.
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Micro, Small and Medium Enterprise (MSME) is one of the pillars of the national economy because of the magnitude of the contribution made by MSME. It is even mentioned that MSME is an integral part of the country's economy. MSME in Indonesia is able to absorb the labor up to 97.02%. The contribution of MSME to GDP (57.08%) and investment (53.24%) also has a larger value when compared to large businesses. But in general, MSME has limited access to financial institutions. By these problems, the government has provided special financing of MSME through Microfinance Institutions (MFI). But in its implementation, externally MFI has obstacles of institutional aspects that have an impact on the variety of the MFI forms. While SMFI has Islamic financing methods that give priority to moral, ethical, and fair so efficiently it can encourage the participation of MSME entrepreneurs to succeed. This study formulates schemes or strengthening models of MSME to increase institutional cooperation between MSME and SMFI. The institutional strengthening scheme offered is expected to increase the contribution of MSME to the national economy.
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Kucharska-Stasiak, Ewa, and Katarzyna Olbińska. "Reflecting Sustainability in Property Valuation - Defining the Problem." Real Estate Management and Valuation 26, no. 2 (June 1, 2018): 60–70. http://dx.doi.org/10.2478/remav-2018-0016.
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Abstract A major topic in discussions about environmental protection is the concept of sustainable development utilizing the economic criteria enhanced by environmental, social and ethical aspects. The concept inspired a new approach to construction and paved the way for the idea of sustainable buildings. Sustainable buildings are expected to offer economic benefits to their owners and tenants that should be reflected in property values. The authors test a hypothesis that the real estate market in Poland still fails to incorporate sustainability in property valuation. The article seeks evidence in support of this hypothesis, as well as attempting to find out why the market does not pay a premium for sustainability. To accomplish the purpose of the research, a systematic literature review, an analysis of the pilot studies available in Poland and a preliminary assessment of the ability of valuation methods to reflect sustainability in property valuations are performed. The focus of the research is on the office property market, one of the fastest growing and most modern segments of the real estate market. The conclusion drawn from the research is that, of all respondents surveyed by international studies, Polish developers, property owners, tenants and valuers know the least about sustainable building and that the evidence of the benefits of sustainable building is still unavailable in the Polish real estate market. Such benefits are rather hypothesized to exist and considered theoretically rather than empirically confirmed. It is possible that the reasons for these findings are the short period of research and problems with distinguishing sustainable buildings from conventional ones, which make it difficult for valuers to reflect the benefits of sustainability in valuations. Nevertheless, a new approach to property valuation encompassing environmental, ethical and moral aspects seems necessary. This would encourage sustainable building and green investment strategies. Sustainable valuation would also be an opportunity for the development of the valuation profession.
Dissertations / Theses on the topic "Moral and ethical aspects of Investment banking"
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Fu, Lin. "On efficacy of ethical investment : a comparative study between UK and Chinese company practices." Thesis, University of Wales Trinity Saint David, 2003. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.683316.
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Ho, Ching-ching Mary, and 何晶晶. "Socially responsible investment indices in Asian markets : merging stakeholder theories with social construction for improved index construction methodology." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2012. http://hdl.handle.net/10722/193511.
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The growth of the managed investment industry brings with it the potential for institutional investors to exert their influence on boards of listed companies to deliver strong and sustainable growth. The concepts of socially responsible investment (SRI), responsible investment (RI) or ethical investment (EI) have become part of mainstream investment practices in many financial markets. While SRI is largely a qualitative concept, its survival and adoption by the mainstream investment community may, in part, be due to the formalising of its concepts into language that investors, asset managers and analysts can more readily understand: the benchmark index.
SRI indices may hold the key to attracting attention to ESG issues in listed corporates and to help bring about positive outcomes in sustainable development. Figures show SRI investments in emerging markets are minimal when compared to those in developed markets but emerging markets hold great potential for growth and development of these tools.
This research develops a tool for bringing together social construction theory and stakeholder theory in understanding the construction of SRI Indices and in development of new indices.
The core of this research is an analysis of SRI indices in three major emerging markets of Hong Kong, India and China, together with an analysis of different perspectives of SRI in Asia. The purpose is to identify opportunities to building SRI indices through a stakeholder engagement approach.
The research was conducted over several phases between October 2008 and August 2010 and can be defined by three different studies:
1. a comparative study on SRI indices and their ESG criteria;
2. a comparative study on SRI indices and their stakeholder engagement approach; and
3. an analysis on the feasibility of building SRI indices in Asian markets.
The findings from the three studies indicate three main arguments. First, ESG assessment and criteria of SRI indices does have an impact on the creditability and value of the SRI indices. Due to the lack of transparency on the ESG assessment and criteria, SRI investors and other stakeholder groups are deterred from adopting SRI indices as SRI tool.
Second, stakeholder engagement is essential for SRI indices. And lastly, SRI indices in emerging markets, especially in the three studied markets, are attractive to both global and local SRI investors; however, these SRI indices need to include local ESG contexts to reflect the actual ESG concerns of the societies and avoid blindly following developed markets’ SRI index model, which in the end become unrealistic and unpopular to investors and stakeholder groups.
We recommend that stakeholder engagement in index criteria and corporate assessment be widened and deepened; that governments and stock exchanges can play a pivotal role in SRI development and should take the lead. We also recommend that SRI indices strengthen the institution of corporate research to rely less on secondary data when making their corporate assessments.published_or_final_version
Kadoorie Institute
Doctoral
Doctor of Philosophy
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Hoepner, Andreas G. F. "Essays on responsible investment, research output analyses and investment performance evaluation." Thesis, University of St Andrews, 2010. http://hdl.handle.net/10023/2130.
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This thesis includes four essays, of which each comprises two original contributions. Based on this thesis’ eight contributions, we add knowledge or understanding to the literatures on responsible investment, research output analyses and investment performance evaluation. First, we develop the first generic, reliable approach to benchmark research area output (e.g. journal articles or books), which we expect to appeal to governments’ increasing interest in monitoring their research funding investments. Second, we apply this approach to the research area of responsible investment, which is currently backed by an about $ 7 trillion industry. We find that the (quality weighted) quantity of responsible investment’s research output is statistically significantly under-proportional compared with peer research areas. One of several explanations for this result lies in the intransparency of the current responsible investment literature. Third, we develop an approach to research synthesis, which improves a research area’s transparency without experiencing many weaknesses of conventional literature reviews. We title this approach Influential Literature Analysis (ILA). Fourth, we apply ILA to the relatively intransparent responsible investment literature. One of our many findings is that responsible assets with their ceteris paribus under-proportional total risk might appear artificially unattractive when assessed by the most common investment performance measure, the Sharpe ratio, which is biased in favour of high risk assets due to its currently unsolved negative excess return problem. Fifth, we develop a generic, reliable and robust solution to the negative Sharpe ratio problem, which investors can customise according to their specific increasing incremental disutility of risk functions. Six, we generalise our solution to the negative Sharpe ratio problem, which allows us to solve the negative (excess) return problems of over twenty other investment performance measures. Seventh, we develop independent, statistically sophisticated tests of the sufficiency and quality of suggested solutions to the negative Sharpe ratio problem, since all existing tests a-priori assume the superiority of a specific solution. In contrast, our tests are only based on the Sharpe ratio itself and two basic axioms of investment theory. Hence, they are conceptually unrelated to our solutions. Eighth, we apply these tests using two different data samples to all existing solutions to the negative Sharpe ratio problem. We find that investors are best advised to use our solutions, the H⁶-, H⁷- or H⁸-measure, in their evaluation of investment performance from a Sharpe ratio like perspective.
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Mulindi, Belinda Ong'asia. "An understanding of corporate social investment within the Kenya Pipeline Company and how it can be used to promote development." Thesis, Nelson Mandela Metropolitan University, 2012. http://hdl.handle.net/10948/d1020043.
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Development and all issues that pertain to it, has been a hot topic since the turn of the century. Governments have set up programs and agendas that they would like to follow to implement development in areas such as social, education, health and environment. Traditionally developing of communities has always been a government’s mandate. Corporate society established that to live in harmony with its neighbours, it was better to plough back into the community. That said it was paramount to see how the both development and CSI/R can be intertwined reasons behind this qualitative research were to establish if the Kenya Pipeline Company CSI initiatives can be used to promote development. The research methodology used was interviews, distribution of questionnaire and document review. These methods were settled on since they allowed the researcher to gain more knowledge and a greater understanding of the data collected and in it’s the natural setting. Kenya Pipeline Company’s CSI/R policy is not quite in place and development could be pegged to the ethnic group or geographical region that the Managing Director comes from. Stakeholders do not quite contribute and are seldom involved in the decision making process. The first benefactors are the communities that fall by the way- leave of the pipeline moving out. A conclusive policy document needs to be put in place to curb the powers given to a single individual and to be able to involve the various stakeholders so as to ensure sustainable development initiatives.
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Zaulochnaya, Ya-Brouwer Irina. "The praxis of responsible investment in South Africa: a holistic case study of Evolution One Fund." Thesis, Rhodes University, 2012. http://hdl.handle.net/10962/d1003899.
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At the beginning of the 21st century the public interest in environmental and social sustainability, and corporate governance grew exponentially fuelled by recurring ecological and financial crises. The market demand for cleaner production and corporate transparency created opportunities for sustainability entrepreneurs in a variety of industries, including financial markets and investment management. An increasing number of financial institutions across the world now offer ethical or socially responsible products to meet the environmental, social and governance (ESG) aspirations of their clients. In the US, according to the Social Investment Forum (SIF), responsible investment (RI) assets reached US$ 2,29 trillion in 2007 (Mitchell, 2008). The European Sustainable Investment Forum (EuroSIF) estimated that total European SRI assets reached EUR 5 trillion in 2009 (Wheelan, 2010). In June 2011 the International Finance Corporation (IFC) reported that at the end of 2010 professional sustainable investment under management in South Africa approximately equalled US$ 122,6 billion (IFC, 2011:44). The statistics describing the rapid growth in the ESG-type investments are, however, complicated by the variety of names and definitions used to describe this emerging type of investment and a general market uncertainty about what constitutes the practice of RI. The purpose of this case study is to better understand responsible investment principles and practice as seen through the eyes of a South African private equity fund, which specializes in clean technology.
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Rampersad, Renitha. "Significance of corporate social investment within the field of public relations with specific reference to selected Kwazulu Natal corporations." Thesis, Port Elizabeth Technikon, 2000. http://hdl.handle.net/10948/35.
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This study is a qualitative investigation into the areas of corporate social investment and public relations. The study examines the significance of corporate social investment within the field of public relations with specific reference to selected KwaZulu Natal corporations. The study looks at the corporate social investment and public relations departments of five corporations in the KwaZulu Natal region. The corporations that were interviewed were selected based on their location, and the number of years of experience in the field. The five companies, namely, The South African Sugar Association, NBS Boland Bank, Hillside Aluminium (Alusaf), McCarthy Retail and Richards Bay Minerals received immense coverage on their corporate social investment initiatives, in the Mail and Guardian’s April 1998 issue, ‘Investing in the future, special focus on social investment.’ The report presents an in-depth literature review, which examines the history of both corporate social investment and public relations. It thereafter examines the current practices of public relations and corporate social investment from a South African perspective. The prevalent approach to corporate social investment is also addressed. Apart from the study of the five corporations, the report also comments on other dedicated corporate social investment programmes. The programmes of each of the five companies are contrasted with current and relevant documentation from the 1999 Business and Marketing Intelligence report. Graphs and tables complement this information. The findings reveal that there is little public relations involvement in corporate social investment initiatives because corporate social investment practitioners do not see the need for the involvement of public relations practitioners in all areas of their corporate social investment initiatives. The results of the interviews gives the reader a broad perspective of corporate social investment and public relations within each company. The findings suggest that the role of public relations needs to be re-examined in the new millennium.
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Tetyana, Sakhiwo. "A study of the corporate social investment distribution and spending by selected corporates in the Eastern Cape." Thesis, Nelson Mandela Metropolitan University, 2014. http://hdl.handle.net/10948/d1020423.
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Corporate Social Investment (CSI) presents a platform for the business sector in South Africa to respond to challenges facing the Eastern Cape. Challenges facing this province are well documented, and it is important to measure and quantify how the business sector in South Africa currently contributes towards addressing those challenges. The Eastern Cape remains by and large undeveloped, with economic activity well below economic potential. Currently, economic activity is concentrated in Port Elizabeth, East London and Mthatha. Notwithstanding economic growth, high levels of unemployment and poverty persist, particularly in the rural areas where two-thirds of the population reside. The research study purposely sampled the top 30 companies from the top 100 listed in Trialogue. A total of 14 questionnaires were completed and returned by respondents. Five CSI managers were randomly selected from the 30 companies for in-depth interviews. The purpose of this exercise was to solicit further views to enable substantive triangulation of data from other sources. The research reveals that corporate groups in South Africa use different but complementary models and strategies in contributing towards poverty reduction. Education, particularly support for secondary school technology and science tuition, and also early childhood development (ECD), constitute key intervention areas by corporations in the Eastern Cape. This is closely followed by economic inclusion or enterprise development. There is no demonstrable evidence that corporate social investment in South Africa is informed by a coherent theoretical framework. The study revealed that education receives the largest share of CSI budgets in the Eastern Cape. Within education, mathematics and science is the most supported sub-programme focus area. This is followed by higher education which is also a preferred sub-programme focus area. A total of 40 percent of CSI spending has been channeled towards rural areas and towns in the former Transkei area. The ‘Mandela factor’ also plays an influential role in thedistribution of CSI spending, especially in the rural areas of the former Transkei. Donations ‘in kind’ are mostly distributed in urban areas.
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Janz, Nicole. "The impact of foreign direct investment on human rights and labour standards : an industry sector approach." Thesis, University of Cambridge, 2015. https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.708829.
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Rezec, Michael. "Alternative approaches in ESG investing : four essays on investment performance & risk." Thesis, University of St Andrews, 2016. http://hdl.handle.net/10023/8127.
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ESG (Environmental, social, and governance) investing is an investment philosophy to inform holistic and sound decision-making of investors for the purposes of both, nourishing a stable economy with acceptable rates of return while at the same time addressing stakeholders' non-financial concerns to preserve an inhabitable planet. Some scholars in finance argue that institutions subject to norms, i.e. responsible investors pay a financial cost from engaging in ESG activities. Moreover, they see ESG investing as distracting, inappropriate, risky and legally challenging. In response, several studies have emerged to show that ESG investing is a growing interest with investors, helps to mitigate financial risks, and does not need to represent a financial cost. Despite convincing evidence in a growing body of academic literature, many questions are still open to debate. Therefore, the principal objective of this thesis is to explore three dimensions of ESG investing, namely corporate environmental responsibility, renewable energy, and ESG disclosure quality. The research questions address issues relating to pension funds' investment decisions and legal obstacles resulting from utilising ESG information, financial return and risk implications of investing in renewable energy, substitutability of renewable energy for fossil fuel investments, and the effects of ESG disclosure quality on the expected cost of capital. To answer these questions, the thesis employs several standard and alternative empirical methods from the asset pricing and risk literatures. The thesis concludes the following. First, the integration of environmental responsibility into pension fund investment decision-making processes does not impede the financial and risk performance of pension funds. This means that pension funds should be allowed to consider such information in their investment decision making processes as the information does not reduce the overall financial return of the tested portfolios and does not violate trust law, i.e. the Employee Retirement Income Security Act (ERISA). Pension fund trustees have been prohibited to consider any non-financial criteria such as environmental, social, or governance criteria in their investment processes under trust law such as ERISA, when they could harm the finanical performance of the portfolio. To be more specific, a pension fund trustee breaches his fiduciary duties (the duty of loyalty and the duty of prudence), if he sacrifices the financial well-being of the pension fund for pursuing any other social goal (Langbein and Posner, 1980). In particular, the duty of loyalty is "... forbidding the trustee to invest for any object other than the highest return consistent with the preferred level of portfolio risk" (Langbein and Posner, 1980:98). Second, the thesis finds no evidence for sustained renewable energy equity premia. Furthermore, investments in renewable energy equity are considerably riskier than in fossil fuel energy equity, meaning that renewable energy firms are undergoing a period of high uncertainties related to their business model, low carbon prices, and lacking public and private infrastructure investment (Bohl et al., 2013; Kumar et al., 2012; Sadorsky, 2012b ). Finally, my thesis shows that companies with high ESG disclosure quality experience lower expected cost of equity and cost of debt financing, everything else equal.
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Cummine, Angela. "A citizen's stake in Sovereign Wealth Funds : the management, investment and distribution of sovereign wealth." Thesis, University of Oxford, 2013. https://ora.ox.ac.uk/objects/uuid:5c3b8fa7-768e-445f-b4f1-54297dca9582.
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Over the past five years, Sovereign Wealth Funds (SWFs) have become a prominent phenomenon in contemporary capitalism. Described as government investment vehicles that invest state wealth in financial markets, the majority of the world's 60-plus funds have been established since the year 2000. Despite extensive treatments of SWFs' geopolitical and international significance, ethical and domestic level analyses are sparse. In response, this thesis interrogates three key normative questions raised by the funds for the domestic citizen-state relationship: (1) How (and by whom) should sovereign funds be managed? (2) How should sovereign wealth be invested? (3) How should the earnings of sovereign fund investment be distributed? In answering these questions, this thesis aims to dispel ambiguity over the ownership status of sovereign funds, evident in popular and academic discourse and within communities that establish these entities. For this task, it draws on recently revived fiduciary theory of the citizen-state relationship to argue that the rightful owner of these funds is the citizenry - not states or governments who enjoy physical and legal possession of SWFs. It goes on to examine the implications of this fiduciary state conception of SWF ownership, asking how citizen-owners should enjoy control over and benefit from the distinct constituent parts of their SWF property: the institution of the fund, the underlying sovereign wealth and the financial returns earned on the investment of its assets. The model of citizen ownership defended demands substantially increased popular control over SWF management and the investment of sovereign wealth, as well as direct benefit rights for citizen-owners to fund income through individualised distribution of investment returns. Examination of existing practice among SWFs demonstrates that this normative ideal is far, although not impossibly distant from current institutional practice.
Books on the topic "Moral and ethical aspects of Investment banking"
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Edmund, Newell, ed. Ethics in investment banking. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan, 2011.
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Global financial crisis: The ethical issues. Basingstoke: Palgrave Macmillan, 2011.
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Find full textBook chapters on the topic "Moral and ethical aspects of Investment banking"
1
Smith, Marcus, and Seumas Miller. "The Rise of Biometric Identification: Fingerprints and Applied Ethics." In Biometric Identification, Law and Ethics, 1–19. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-90256-8_1.
Full textAbstract:
AbstractIn the late nineteenth century, it became understood that the patterns on the skin of the fingers were unique and could be used for identification purposes, leading to the development of biometric identification (Smith M, Mann M, Urbas G. Biometrics, crime and security. Routledge, 2018). The ease with which fingerprints can be accessed and recorded, and the ease with which they transfer to surfaces and objects, made them ideal for law enforcement purposes. Today, in digital form, fingerprints and other biometric identification techniques, notably DNA profiles and facial recognition technology, are a widely used means of identification across a range of applications, from accessing personal devices, to banking, border security and law enforcement. However, these uses have raised a raft of ethical or moral (we use these terms interchangeably) concerns, some of the more important of which we discuss in this work.In the first chapter, we discuss general aspects of biometric identification, before focusing on fingerprint identification, including its reliability as form of evidence. Secondly, we provide an overview of applied ethics; and outline a key theoretical notion, relevant to many of the issues discussed throughout the later chapters: collective responsibility. Finally, we analyse the ethical risks and benefits associated with the technique of fingerprint identification.