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Is Shariah Compliant Investment Socially Responsible ?
[¿ Es la inversión conforme a Shariah una inversión socialmente responsable ?]

Author

Listed:
  • Philippe Desbrières

    (CREGO - Centre de Recherche en Gestion des Organisations (EA 7317) - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UB - Université de Bourgogne - UBFC - Université Bourgogne Franche-Comté [COMUE] - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

  • Elias Erragragui

    (Kedge Business School [Talence])

  • Jonathan Peillex

    (Research Center - Léonard de Vinci Pôle Universitaire - De Vinci Research Center)

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.

Suggested Citation

  • Philippe Desbrières & Elias Erragragui & Jonathan Peillex, 2018. "Is Shariah Compliant Investment Socially Responsible ? [¿ Es la inversión conforme a Shariah una inversión socialmente responsable ?]," Post-Print hal-01879591, HAL.
    • Handle: RePEc:hal:journl:hal-01879591
    DOI: 10.7202/1060893ar
    as

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    Citations

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    Cited by:

    1. Peillex, Jonathan, 2023. "Réaction des investisseurs à la création de fonds éthiques [Investor reaction to the creation of ethical funds]," MPRA Paper 118930, University Library of Munich, Germany.
    2. Jonathan Peillex & Sabri Boubaker & Breeda Comyns, 2021. "Does It Pay to Invest in Japanese Women? Evidence from the MSCI Japan Empowering Women Index," Journal of Business Ethics, Springer, vol. 170(3), pages 595-613, May.
    3. Mendiela, Pauline, 2021. "Information security breaches and financial market reaction: the French case," MPRA Paper 105029, University Library of Munich, Germany.
    4. Vincent Lavaine, 2020. "Intérêts et Limites de la labélisation du marché français de l'ISR," Working Papers hal-02494009, HAL.
    5. Grira, Jocelyn & Labidi, Chiraz, 2021. "Banks, Funds, and risks in islamic finance: Literature & future research avenues," Finance Research Letters, Elsevier, vol. 41(C).

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