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Islamic finance development and banking ESG scores: Evidence from a cross-country analysis

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  • Paltrinieri, Andrea
  • Dreassi, Alberto
  • Migliavacca, Milena
  • Piserà, Stefano

Abstract

An extensive body of literature on CSR examined its effects on several business dimensions. However, little attention has been paid on the relationship between the growing role played by Islamic finance, its connection with sustainability and the drivers of such relationship.

Suggested Citation

  • Paltrinieri, Andrea & Dreassi, Alberto & Migliavacca, Milena & Piserà, Stefano, 2020. "Islamic finance development and banking ESG scores: Evidence from a cross-country analysis," Research in International Business and Finance, Elsevier, vol. 51(C).
    • Handle: RePEc:eee:riibaf:v:51:y:2020:i:c:s0275531919301096
    DOI: 10.1016/j.ribaf.2019.101100
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    Cited by:

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    3. Ying, Limeng & Zhang, Jiaming & Zhu, Junyi & Gan, Yufei, 2024. "Impact of corporate philanthropy on firm performance: The moderating role of board structure," Research in International Business and Finance, Elsevier, vol. 72(PA).
    4. Saif-Alyousfi, Abdulazeez Y.H. & Saha, Asish & Alshammari, Turki Rashed, 2023. "Bank diversification and ESG activities: A global perspective," Economic Systems, Elsevier, vol. 47(3).
    5. Wafa Sahraoui & Rimvie Enoc Kabore, 2021. "The relationship between Corporate Social Responsibility and performance: the moderating effect of financial leverage," Working Papers hal-03503462, HAL.
    6. Burhanudin Harahap & Tastaftiyan Risfandy & Inas Nurfadia Futri, 2023. "Islamic Law, Islamic Finance, and Sustainable Development Goals: A Systematic Literature Review," Sustainability, MDPI, vol. 15(8), pages 1-21, April.
    7. Conte, Danilo & Bussoli, Candida & Hemmings, Danial, 2024. "Responsible risk-taking and the CSP-financial performance relation in the banking sector: A mediation analysis," Research in International Business and Finance, Elsevier, vol. 69(C).
    8. Ramzan, Muhammad & Amin, Muhammad & Abbas, Muhammad, 2021. "How does corporate social responsibility affect financial performance, financial stability, and financial inclusion in the banking sector? Evidence from Pakistan," Research in International Business and Finance, Elsevier, vol. 55(C).
    9. Kabir Hassan, M. & Chiaramonte, Laura & Dreassi, Alberto & Paltrinieri, Andrea & Piserà, Stefano, 2021. "The crossroads of ESG and religious screening on firm risk," Research in International Business and Finance, Elsevier, vol. 58(C).
    10. Galletta, Simona & Goodell, John W. & Mazzù, Sebastiano & Paltrinieri, Andrea, 2023. "Bank reputation and operational risk: The impact of ESG," Finance Research Letters, Elsevier, vol. 51(C).
    11. Hassan, M. Kabir & Chiaramonte, Laura & Dreassi, Alberto & Paltrinieri, Andrea & Piserà, Stefano, 2023. "Equity costs and risks in emerging markets: Are ESG and Sharia principles complementary?," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
    12. Simona Galletta & Sebastiano Mazzù, 2023. "ESG controversies and bank risk taking," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 274-288, January.
    13. Maria Celia López-Penabad & Ana Iglesias-Casal & José Fernando Silva Neto & José Manuel Maside-Sanfiz, 2023. "Does corporate social performance improve bank efficiency? Evidence from European banks," Review of Managerial Science, Springer, vol. 17(4), pages 1399-1437, May.
    14. Shahzad, Umer & Ghaemi Asl, Mahdi & Khalfaoui, Rabeh & Tedeschi, Marco, 2024. "Extreme contributions of conventional investments vis-à-vis Islamic ones to renewables," Renewable and Sustainable Energy Reviews, Elsevier, vol. 189(PB).
    15. Hasan, Md. Bokhtiar & Rashid, Md. Mamunur & Shafiullah, Muhammad & Sarker, Tapan, 2022. "How resilient are Islamic financial markets during the COVID-19 pandemic?," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
    16. Fabrizio Crespi & Milena Migliavacca, 2020. "The Determinants of ESG Rating in the Financial Industry: The Same Old Story or a Different Tale?," Sustainability, MDPI, vol. 12(16), pages 1-20, August.
    17. Puteri Nur Balqis Megat Mazlan & Nafez Fayez Hersh & Tajul Ariffin Masron & Nurhafiza Abdul Kader Malim, 2023. "Islamic finance and governance indicators: empirical evidence from Islamic finance-permitting countries," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 20(4), pages 344-358, December.
    18. Chiaramonte, Laura & Dreassi, Alberto & Goodell, John W. & Paltrinieri, Andrea & Piserà, Stefano, 2024. "Banks’ environmental policies and banks’ financial stability," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    19. Galletta, Simona & Mazzù, Sebastiano & Naciti, Valeria, 2022. "A bibliometric analysis of ESG performance in the banking industry: From the current status to future directions," Research in International Business and Finance, Elsevier, vol. 62(C).
    20. Zeng, Jing & Ling, Wen & Hua, Min & Chan, Kam C., 2024. "Impact of an increase in tax deductibility of R&D expenditure on firms' ESG: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    21. Hassan, M. Kabir & Chiaramonte, Laura & Dreassi, Alberto & Paltrinieri, Andrea & Piserà, Stefano, 2022. "The religious fringe of Corporate Social Responsibility," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 243-265.
    22. Pandey, Dharen Kumar & Kumari, Vineeta, 2024. "Effects of draft Climate-related Financial Risks Disclosure Framework on stock returns," Finance Research Letters, Elsevier, vol. 70(C).
    23. Muhammad Anas & Ghulam Mujtaba & Sadaf Nayyar & Saira Ashfaq, 2020. "Time-Frequency Based Dynamics of Decoupling or Integration between Islamic and Conventional Equity Markets," JRFM, MDPI, vol. 13(7), pages 1-27, July.

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    More about this item

    Keywords

    Islamic finance; ESG; CSR; Banking; IFDI;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other

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