God's fund managers

Abstract

While the literature contains a number of studies of ethical investment funds, relatively little is known about church investment processes and practices despite the significant role they have played in the development of the sector. This paper attempts to address this lacuna by studying the ethical investment programmes of two UK churches: the Methodist Church and the Church of England. The paper initially explores the relationship between the Judaeo-Christian church and the development of the ethical investment movement. This history reveals an engagement both at the institutional and individual level that challenges the assumed sacred secular divide now commonplace within the literature and the more recent guardian-advocate dichotomy. Second, the paper delineates the way in which the churches theologically conceptualise this engagement and describes how these values are proceduralised through the operation of the funds. The final section provides an immanent critique of church investments both at a performative and theological level. The aim of this concluding section is to engage with the churches in exploring the broader potential for the church in effecting social change.

Accounting Standards in Church Financial Management

“…The social context perspective is increasingly being confronted by most notably studies in Christian communities that they found accounting can be part of the sacred sphere of life and be considered as an essential part in the management process to ensure the accountability in religious organization (Irvine, 2005;Irvine, 2011;Lightbody, 2000;Jacobs, 2004;Kreander, 2004;Quattrone, 2015;Funnel, 2015).…”

“…This paper asserts that Christ the transformer of culture typology is relevant to be adopted in ECCT Kota Baru Church since the vision of this church is to answer the needs of the society through its five services, called "PancaTugas", which comprises of Koinonia, Merturia, Diakonia, Liturgia and Oikonomia (ECCT Kota Baru Kupang, 2016). This is based on principle theological values of creationism, witness, agapism, engagement and stewardship (Kreander, 2004). Transforming Christian values should be embedded in the church budget and program executions (Parker, 2001;Parker, 2002;Benu, 2017;Tumiwa et.al., 2015).…”

“…Koinonia is related to fellowship activities that are not limited only in the church communities, such as the church families and congregations, but also all creations in society including all humans, environments and various religions. The basic theological principle in this activity is creationism that God has created the world and that we are, "living in God's world" and this should be considered in church activity to maintain all the God creation including the physical environment and individual human beings (Kreander, 2004).…”

“…The theological value underlying this activity is engagement that can take two forms: a "Prophetic ministry of denunciation," where the church stands outside and speaks out against injustice; and pragmatic engagement with a view to seeking practical solutions. Instead of merely denouncing injustice, practical engagement seeks to encourage economic justice through participation (Kreander, 2004). This value is also the main principle of Diakonia activity that is connected with assistance and support activities to the weak, the poor, and the marginalized people in the church and society.…”

How are U.K. churches using social media to engage with their congregations?

“…The Church of England (CofE) has a considerably longer history than megachurches and, hence, has attracted a number of research investigations, but as with megachurches, the research has a marginal relevance to the church's use of the web or social media. For example, earlier studies have explored the Church's accounting systems (Laughlin, 1988), investment practices (Kreander, McPhail, & Molyneaux, 2004) and women's contribution and experiences (Levitt, 2003;Sani & Reicher, 2000). Adopting a more explicitly marketing and communications perspective, Muskett…”