Purpose This study aims to present a corporate social responsibility (CSR) model that would apply to Islamic banks, considering the international aspect of social responsibility because CSR is not applicable in the same way in all types of societies. Design/methodology/approach Based on the extensive review of the existing literature, the authors aim to present an Islamic CSR model applicable to Islamic banks. This study is based on the international approach to CSR developed by Masoud (2017). Each responsibility has an equal share but with specific changes regarding the order of priorities between them and the type of responsibility. Findings The findings show that the existing literature provides several Islamic CSR models. Most of these models are general and offer guidelines to Islamic financial institutions, but no model applies exclusively to Islamic banks. Using these models for Islamic banks is challenging because of their specific business activities, especially in non-Muslim countries. This study proposes a model that could act as the main guideline for Islamic banks with enough flexibility to meet different market and stakeholders’ requirements. Practical implications The model was not tested on a sample, and not all Islamic principles were considered. However, it is applicable for Islamic banks, especially considering internationalization in their businesses and the further development of Islamic banking. At the same time, this model puts ethical norms in the spotlight. This is particularly emphasized in the case of non-Muslim countries or in societies where a particular law does not regulate Islamic bank activities. Originality/value Although there is a growing literature on this topic, existing studies primarily discuss the Islamic approach to CSR from the overall perspective, not in a specific industry. While some authors developed their own Islamic CSR models relying on the primary Shariah sources, others base their proposals on other classical CSR ideas. To the best of the authors’ knowledge, this is the first study based on the CSR model developed by Masoud (2017), considering the relationship between economics and religion and the implications of the Islamic moral economy.
This paper aims to: a) analyse the environmental disclosure practice in the Serbian banking sector, b) determine whether the degree of disclosure is higher in the case of big, i.e. systemically important banks, and c) examine if there is a positive relationship between the banks' CSR practice and their financial performance. The environmental disclosure index (EDI) based on 15 variables was employed to measure environmental disclosure performance for the Serbian banking industry. The data were generated through content analysis of the annual and sustainability reports of a total of 10 banks, five of which were classified as systemically important banks for the period 2015-2019. The sample was determined by the availability of reports for the analysed period and the bank establishment year. The results show that the majority of Serbian banks discloses their environmental policy (74%), the undertaken environmental activities with the local community (51%), and the utilization efficiency of water, energy, and paper (48%). Although the findings indicate that the environmental disclosure practice among all banks in Serbia is growing, the reports are not standardized. In addition, the systemically important banks in Serbia do not have a better disclosure practice. The econometric analysis implies that the bank's status does not influence the level of environmental disclosure and that there is no positive relationship between financial performance (ROA and ROE) and EDI. This study has implications for policymakers and accounting bodies in Serbia in standardizing non-financial reporting and creating certain green and sustainable banking guidelines.
The analysis of the effects of applying the concept of sustainable development in retail has been attracting interest recently. In that context we have considered greenhouse gases emission in retail. This is achieved by using modern ecological technology in business-through the whole food value chain. The goal is to achieve the planned reductions of carbon dioxide in retail food, which positively reflects the overall performance of food retailers. This empirical research is mainly based on the analysis of the original sustainable reports officially disclosed by selected food retailers. These reports are now an integral part of the integrated reporting on performance of global food retailers. Having been universally important, harmonized regulations on sustainable retail food reporting are being increasingly applied as a data source for more efficient environmental management. In the future, this will enable the comparative analysis of the carbon dioxide emission of global and other food retailers.
Large retail chains conduct intensive replacement of old technology with new, more efficient one, especially in the field of energy, and in accordance with the application of the concept of sustainable development in business. These changes affect depreciation expenses and profits. Due to this, in this paper we will primarily research the dynamics of depreciation expenses and their impact on profit in sales of US, Japan, European Union, Russia, with special insight into Serbia based on original collected data. In order to thoroughly process given issues, numerous cases from practice were analyzeddepreciation of retail companies from different countries, especially the developed market economies. Presented methodological approach (comparative analysis, ratio analysis, descriptive statistics, correlation analysis, case studies) and research results(especially to point out the significance of continuous complex analysis of all relevant angles) should serve as a basis for more efficient management of depreciation expenses in modern trade.
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