Is Shariah Compliant Investment Socially Responsible ?

¿ Es la inversión conforme a Shariah una inversión socialmente responsable ?

Philippe Desbrières, Elias Erragragui () and Jonathan Peillex ()
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Elias Erragragui: Kedge Business School [Talence]
Jonathan Peillex: DVRC - De Vinci Research Center - DVHE - De Vinci Higher Education

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Abstract: This study proposes a new approach on the suitability of including the SCI in the sphere of SRI. We compare these two investment styles both qualitatively and quantitatively in order to understand whether and how the SCI differs from the SRI. The results show that SCI financially outperforms SRI and conventional investment during economic downturn and it is characterized by social under-performance. We conclude that even if SCI may be considered as a particular concept of SRI, the non-inclusion of ESG considerations may lead the academic and professional communities to deal with SCI as a full investment style.

Keywords: Shariah compliant investment; Socially responsible investment; Financial performance; Societal performance; Inversión conforme a shariah; Inversión socialmente responsable; Desempeño financiero; Desempeño social; Investissement conforme à la Charia; Investissement socialement responsable; Performance financière; Performance sociétale (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (5)

Published in Management international = International management = Gestión internacional, 2018, 22 (3), pp.51-64. ⟨10.7202/1060893ar⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01879591

DOI: 10.7202/1060893ar

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