{"title":"The effects of diversity and inclusion on ESG performance: A comparison between Islamic and conventional banks","authors":"Yunice Karina Tumewang , Kemala Putri Ayunda , Maudi Rahmah Azzahra , M. Kabir Hassan","doi":"10.1016/j.bir.2024.10.001","DOIUrl":null,"url":null,"abstract":"<div><div>This study analyzes the effects of diversity, inclusion, and people development (DIP) on environmental, social, and governance (ESG) performance in Islamic and conventional banks from 2015 to 2022. Using data from Refinitiv database, it reveals that a more diverse and inclusive workplace is found to have better overall ESG performance and both pillars (environmental and social performance). This positive and significant association is more pronounced in Islamic banks than in its conventional counterpart. However, no significant effect was found on governance performance. These findings are robust to several sensitivity analyses based on some alternative measures. To the best of the authors’ knowledge, this is the first empirical study investigating the effects of diversity, inclusion, and people development on ESG performance, using multi-country data on Islamic and conventional banks.</div></div>","PeriodicalId":46690,"journal":{"name":"Borsa Istanbul Review","volume":"24 6","pages":"Pages 1101-1110"},"PeriodicalIF":6.3000,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Borsa Istanbul Review","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2214845024001340","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
Abstract
This study analyzes the effects of diversity, inclusion, and people development (DIP) on environmental, social, and governance (ESG) performance in Islamic and conventional banks from 2015 to 2022. Using data from Refinitiv database, it reveals that a more diverse and inclusive workplace is found to have better overall ESG performance and both pillars (environmental and social performance). This positive and significant association is more pronounced in Islamic banks than in its conventional counterpart. However, no significant effect was found on governance performance. These findings are robust to several sensitivity analyses based on some alternative measures. To the best of the authors’ knowledge, this is the first empirical study investigating the effects of diversity, inclusion, and people development on ESG performance, using multi-country data on Islamic and conventional banks.
期刊介绍：
Peer Review under the responsibility of Borsa İstanbul Anonim Sirketi. Borsa İstanbul Review provides a scholarly platform for empirical financial studies including but not limited to financial markets and institutions, financial economics, investor behavior, financial centers and market structures, corporate finance, recent economic and financial trends. Micro and macro data applications and comparative studies are welcome. Country coverage includes advanced, emerging and developing economies. In particular, we would like to publish empirical papers with significant policy implications and encourage submissions in the following areas: Research Topics: • Investments and Portfolio Management • Behavioral Finance • Financial Markets and Institutions • Market Microstructure • Islamic Finance • Financial Risk Management • Valuation • Capital Markets Governance • Financial Regulations
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