Research Handbook of Finance and Sustainability
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Research Handbook of Finance and Sustainability

Edited by Sabri Boubaker, Douglas Cumming and Duc K. Nguyen

The severe consequences of the global financial crisis 2008-2009 and numerous accounting frauds and financial scandals over the last fifteen years have let to calls for more ethical and responsible actions in all economic activities including consumption, investing, governance and regulation. Despite the fact that ethics in business and corporate social responsibility rules have been adopted in various countries, more efforts have to be devoted to motivate and empower more actors to integrate ethical behavior and rules in making business and managerial decisions. The Research Handbook of Finance and Sustainability will provide the readers but particularly investors, managers, and policymakers with comprehensive coverage of the issues at the crossroads of finance, ethics and sustainable development as well as proposed solutions, while focusing on three different levels: corporations, investment funds, and financial markets.
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Chapter 25: The emergence of business sustainability: Educational, practical and research implications

Anthony Ng and Zabihollah Rezaee


Business sustainability is gaining considerable attention from global investors, regulators, public companies, the business community, academicians and the accounting profession as more than 12 000 public companies worldwide are issuing sustainability reports on some or all five – economic, governance, social, ethical and environmental (EGSEE) dimensions of sustainability performance – and this trend is expected to continue. This chapter examines the increasing focus on business sustainability and its implications for business practice and research. Although more companies are paying attention to sustainability reporting, the business community still lacks a systematic approach to reporting corporate sustainability in a holistic and effective manner. At the same time, proper measurement of sustainability performance, as well as accurate and reliable reporting of sustainability performance, remain major challenges for organizations of different types and sizes. Different dimensions of business sustainability performance are considered in an isolated fashion, and research still lacks examination of the integrated effects of both financial and non-financial dimensions of sustainability performance and disclosures/reporting. Furthermore, the integration of sustainability education into business curricula deserves more attention from educators.

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