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Article
Publication date: 23 November 2021

Balashankar Mulloth and Stefano Rumi

Despite the prevalence of academic literature debating and proposing competing conceptions of social value creation through socially driven enterprises, there is a lack of…

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Abstract

Purpose

Despite the prevalence of academic literature debating and proposing competing conceptions of social value creation through socially driven enterprises, there is a lack of empirical studies on established impact measurement methodologies in the context of real-world ventures. The purpose of this paper is to illustrate a structured process of conducting social impact assessments (SIAs) through the real-world case of Richmond, Virginia Works Enterprise Support (RVA Works), a social enterprise in Richmond, Virginia, that provides educational programming on small business ownership to minorities and lower-income individuals.

Design/methodology/approach

This qualitative research study incorporates an in-depth case study methodology. Evidence was collected through interpretive/qualitative interviews and direct observations by the researchers.

Findings

Using the example of RVA Works, the authors show that there is a lack of standardization and guidance for social entrepreneurs in choosing methods to assess their organizational performance, and that leading conceptions of social impact continue to face key weaknesses in their methodologies.

Practical implications

By incorporating a qualitative case study approach, the authors present a real-world study of a social enterprise – specifically a microenterprise development organization – that may serve as a valuable example to social entrepreneurs and not-for-profit leaders facing similar challenges of social value creation and impact measurement.

Originality/value

In studying the experience of conducting SIAs by social enterprises, the authors illustrate the real-world challenges faced by entrepreneurs in applying theoretical conceptions of social value to the outcomes of their ventures, thus illustrating a need for additional clarity and discussion around a more comprehensive, standardized and broadly applicable measurement approach.

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Book part
Publication date: 6 September 2019

Abstract

Details

Experiencing Persian Heritage
Type: Book
ISBN: 978-1-78754-813-8

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Book part
Publication date: 6 February 2019

George R. Goethals and Scott T. Allison

Abstract

Details

The Romance of Heroism and Heroic Leadership
Type: Book
ISBN: 978-1-78756-655-2

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Book part
Publication date: 6 February 2019

George R. Goethals and Scott T. Allison

Abstract

Details

The Romance of Heroism and Heroic Leadership
Type: Book
ISBN: 978-1-78756-655-2

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Article
Publication date: 7 June 2022

Issam Tlemsani, Mohamed Ashmel Mohamed Hashim and Robin Matthews

This conceptual paper aims to explore portfolio replication to resolve post-COVID pandemic private and public debt. This paper stresses the need to be less dependent on a…

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Abstract

Purpose

This conceptual paper aims to explore portfolio replication to resolve post-COVID pandemic private and public debt. This paper stresses the need to be less dependent on a debt-based system and the emergence Islamic equity market.

Design/methodology/approach

This study analyses different types of risks involved in Islamic and conventional portfolios by using risk measures such as relative beta and comparatively examining the systematic and downside risk exposure of Islamic and conventional portfolios. Data was collected monthly from 2016 to 2022.

Findings

The findings indicate that the replications of a conventional portfolio into an Islamic portfolio are compatible with the regulatory standard, sharia boundaries and professional practices developed from investment theory. The result shows that Islamic portfolios have lower risk exposure compared with their conventional counterparts in most of the sample years, therefore, become further attractive for debt–equity portfolio swaps and Sharia-compliant investors preferring low-risk preferences. The result confirmed that the Islamic portfolios have a higher return and less risk than conventional portfolios.

Research limitations/implications

The implications of this research are to provide a road map to the regulators, policymakers, governments and the financial industry on how to rearrange some of the public and private debt. A likely remedy is incorporating Islamic financial instrument principles through the equitisation of public and private debt.

Practical implications

This research contributes to investors (particularly those who want to avoid riba [usury] based investment) to make more diversified portfolios by considering Islamic portfolios to reduce risk exposure.

Originality/value

To the best of the authors’ knowledge, this is the first paper to create bivariate debt–equity portfolios swaps composed of Islamic and conventional assets.

Details

Journal of Islamic Accounting and Business Research, vol. 14 no. 1
Type: Research Article
ISSN: 1759-0817

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