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Sustainability engagement and shariah-compliant mutual funds: a preliminary study


Abd Mutalib, Hafizah and Muhammad Jamil, Che Zuriana and Che Adam, Noriah (2018) Sustainability engagement and shariah-compliant mutual funds: a preliminary study. Advanced Science Letters, 24 (7). pp. 4892-4895. ISSN 1936-6612

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Abstract

Previous studies indicate that mutual funds are profit-oriented transient investors. Therefore, investing in firms with good sustainability engagement is not a good idea for mutual funds as it is seen as cost incurring, hence reducing the profit. However, this study believes that such investment preference is different for the mutual funds which are Shariah-compliant. Based on the Islamic principles of tawhid (faith), khalifah (vicegerent) and ukhuwwah (brotherhood), which suggest close connection between Islam and sustainability, this study examines that firms’ sustainability engagement may have the ability to attract investments from Shariah-compliant mutual funds. The analyses from this study suggest preliminary findings that Shariah-compliant mutual funds do have preference to invest in firms with good sustainability commitments.

Item Type: Article
Uncontrolled Keywords: CSR; Malaysia; Mutual Fund; Shariah; Sustainability
Subjects: H Social Sciences > HG Finance
Divisions: Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
Depositing User: Mrs. Norazmilah Yaakub
Date Deposited: 04 Mar 2019 02:09
Last Modified: 04 Mar 2019 02:09
URI: http://repo.uum.edu.my/id/eprint/25694

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