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Corporate social responsibility, intrinsic religiosity, and investment decisions

Ahmad Usman Shahid, Chris Patel and Peipei Pan

Journal of Behavioral and Experimental Finance, 2022, vol. 34, issue C

Abstract: We contribute to corporate social responsibility research by examining the influence of intrinsic Islamic religiosity, operationalized by Islamic Worldview, on investment decisions related to a firm faced with alleged environmental degradation in Pakistan. The findings based on a sample of 176 junior business executives establish that investors with higher scores on Islamic Worldview are less likely to invest in a profitable firm that is alleged of environmental degradation than those with lower scores. Guided by their intrinsic religiosity, investors make decisions different from those of the supposedly economically rational person.

Keywords: Intrinsic Islamic religiosity; Corporate social responsibility; Environmental degradation; Investment decisions (search for similar items in EconPapers)
JEL-codes: G11 M41 Q56 Z12 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1016/j.jbef.2022.100650

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