Ahmad Usman Shahid, Hafiza Sobia Tufail, Waqas Baig, Aimen Ismail and Jawad Shahid
This paper aims to contribute to the social aspect of corporate social responsibility literature by examining the influence of financial analysts’ spirituality on their socially…
Abstract
Purpose
This paper aims to contribute to the social aspect of corporate social responsibility literature by examining the influence of financial analysts’ spirituality on their socially responsible investing (SRI) decisions relating to a profitable organization, which is alleged by the media to employ children as laborers in hazardous works in Pakistan. This study also investigates whether analysts’ social consciousness mediates between their spirituality and investing decisions.
Design/methodology/approach
A scenario-based survey was administered to 124 financial analysts at leading financial institutions in Pakistan. Data were analyzed using regression, analysis of variance and mediation analysis on SPSS 26.
Findings
The findings demonstrate that financial analysts’ spirituality negatively influences their SRI decisions to invest in a profitable organization, which is alleged to employ children in hazardous work that may harm them physically and psychologically. The findings also express that analysts’ social consciousness intervenes in the association between analysts’ spirituality and SRI decisions.
Practical implications
The findings of this study may interest regulators, multinational firms and researchers in recognizing the importance of individuals’ values for increasing socially responsible investments and addressing social issues such as the exploitation of children.
Social implications
This study encourages firms to recognize the importance of spiritual and socially conscious corporate conviction while designing strategies and policies. For example, the financial industry may incorporate fundamental personal values such as stewardship, dignity and fairness into its investment plans.
Originality/value
This study provides rigorous insights and contributes to contemporary studies by providing empirical evidence that individuals’ intrinsic values and consciousness drive their judgments.
Details
Keywords
Ahmad Usman Shahid, Hafiza Sobia Tufail, Hafiz Yasir Ali and Joane Jonathan
This paper aims to contribute to the corporate social responsibility (CSR) literature by providing holistic insights into financial analysts’ personal values, perceived…
Abstract
Purpose
This paper aims to contribute to the corporate social responsibility (CSR) literature by providing holistic insights into financial analysts’ personal values, perceived behavioural risk and investment decisions relating to the social aspects of CSR. Specifically, this paper examines whether analysts’ personal values, such as religiosity, spirituality and social consciousness, influence their investment decisions relating to a highly profitable firm that is alleged of exploiting labour rights. This study also examines the mediating role of analysts’ perceived behavioural risk between personal values and investment decisions.
Design/methodology/approach
Data were collected, using a scenario-based survey, from 145 financial analysts at both public and private companies in Pakistan.
Findings
The results show that analysts’ values, including religiosity, spirituality and social consciousness, have a significant negative impact on their investment decisions. The results also demonstrate that perceived behavioural risk mediates the relationship between these values and investment decisions.
Practical implications
This study has implications for the globalised business world, regulators and researchers for incorporating personal and ethical values into risk and investment decision-making.
Originality/value
This study establishes the importance of analysts’ personal values in risky investment decision-making.
Details
Keywords
Ahmad Usman Shahid, Hafiza Sobia Tufail, Jawad Shahid and Aimen Ismail
The purpose of this study is to develop and empirically test a theoretical model of antecedents and consequences of perceived job security of professional accountants. This study…
Abstract
Purpose
The purpose of this study is to develop and empirically test a theoretical model of antecedents and consequences of perceived job security of professional accountants. This study contributes to the literature by examining the mediating role of perceived job security between the reward management system and the ethical job performance of professional accountants.
Design/methodology/approach
A survey was used to collect responses from professional accountants at small- and medium-tier accounting firms in Pakistan. Of the total 313 circulated research instruments, 270 were completed producing a response rate of 86%. The hypotheses were tested by performing structural equation modeling, confirmatory factor analysis and correlation using SPSS 24 and AMOS 25.
Findings
Findings specify that the perceived job security of professional accountants partially and fully mediates the relationship between their ethical job performance and intrinsic and rewards, respectively. Additionally, reward management systems including intrinsic and extrinsic rewards have a significant impact on the ethical job performance of professional accountants.
Practical implications
The findings of this study may have significant implications for researchers for examining the subjects' perceived job security in enhancing the overall performance of the firms. The findings may also benefit domestic and international accounting firms for recognizing the importance of rewards and job security for enhancing the ethical performance of accountants.
Originality/value
This study is the first to provide empirical evidence for the importance of perceived job security for professional accountants in Pakistan. The current research also provides sharper insights into establishing the direct impact of both extrinsic and intrinsic rewards on professional accountants' ethical job performance.
Details
Keywords
Ahmad Usman Shahid, Chitra Devi Nagarajan, Hafiza Sobia Tufail and Muhammad Imran
The objective of this study is to examine the influence of investors’ pro-environmental attitudes and spirituality on their intentions to invest in socially responsible investment…
Abstract
Purpose
The objective of this study is to examine the influence of investors’ pro-environmental attitudes and spirituality on their intentions to invest in socially responsible investment projects in the context of India. This study also examines whether investors’ perceptions of firms’ greenwashing practices mediate the relationship between their pro-environmental attitude, spirituality and investing decisions.
Design/methodology/approach
The authors collected data from 337 investors registered at the National Stock Exchange of India. Additionally, data were analyzed, and hypotheses were tested using linear regression, zero-order correlation and mediation approaches in SPSS 28.
Findings
The findings of this study report that investors’ pro-environmental attitudes and spirituality have a significant positive impact on their intentions to invest in socially responsible investment projects. Additionally, their mediation analysis further shows that both manipulative and selective disclosures of greenwashing practices mediate the association between investors’ pro-environmental attitude, spirituality and their intentions to invest in socially responsible investment projects.
Practical implications
The findings of the study have important implications for regulators, policymakers, firms and researchers in understanding the impact of pro-environmental attitudes and firms’ greenwashing practices on investors’ socially responsible investing decisions.
Social implications
This study also has implications for regulators in creating awareness for tackling greenwashing practices and screening intentions to invest in socially responsible investment projects in developing countries.
Originality/value
This study stresses creating awareness for incorporating pro-environmental and spiritual mindset into addressing the challenges of socially responsible investing in the presence of greenwashing practices.