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Socially Responsible Investments – A Quick Fix for Financial Crimes

In: Smart Analytics, Artificial Intelligence and Sustainable Performance Management in a Global Digitalised Economy

Author

Listed:
  • S. Kavitha
  • K. Selvamohana
  • K. Sangeetha

Abstract

Introduction:This chapter is intended to link the embracing strategy of ‘socially responsible investment’ with the apparent cause of economic destruction ‘financial crimes’. Today’s financial world is not always associated with ethics and morality, but it does not mean rising investments cause rising financial crimes. Socially responsible investing (SRI) has been rising, and many of today’s investors are interested in tracking ethically sound companies. Investors find a great way to invest around many investment opportunities, while socially responsible investors work with little social cause. This increasing literacy over SRI notably helps to reduce investments in unethical grounds which in turn reduces financial crimes. Design/methodology:This work is premised on desk research. Conceptual and documentary methods were used in the study. The tertiary data source has been used in the study to develop a template describing the working of SRI in fixing financial crimes. Findings:Findings of this study detail: a breakdown of industries that comes under SRI, channels of financial crimes, impact of SRI on financial crimes, and design an action plan for more effective environmental, social, and governance (ESG)-based investments to fix problems of financial crimes in the Indian economy. Practical implications:The model of SRI has unfolded these days. While the purpose of these funds differs, they generally swear off the weapons industry and avoid ‘sin stocks’. In-depth analysis of this study area enables building quality investment strategy among investors and thereby helps to combat financial crimes.

Suggested Citation

  • S. Kavitha & K. Selvamohana & K. Sangeetha, 2023. "Socially Responsible Investments – A Quick Fix for Financial Crimes," Contemporary Studies in Economic and Financial Analysis, in: Smart Analytics, Artificial Intelligence and Sustainable Performance Management in a Global Digitalised Economy, volume 110, pages 73-82, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:csefzz:s1569-37592023000110b004
    DOI: 10.1108/S1569-37592023000110B004
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    Keywords

    Socially responsible investment; environmental; social; and governance; terrorism financing; financial crime; impact financing; secondary data-based research; e44; G41; G53;
    All these keywords.

    JEL classification:

    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy

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