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The Emerald Handbook of Ethical Finance and Corporate Social Responsibility

Title Page

The Emerald Handbook of Ethical Finance and Corporate Social Responsibility: A Framework for Sustainable Development

Edited By

Ahmed Imran Hunjra

International University of Rabat, Morocco

And

Khaled Hussainey

University of Portsmouth, UK

United Kingdom – North America – Japan – India – Malaysia – China

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Emerald Publishing Limited

Emerald Publishing, Floor 5, Northspring, 21-23 Wellington Street, Leeds LS1 4DL

First edition 2024

Editorial matter and selection © 2024 Ahmed Imran Hunjra and Khaled Hussainey.

Individual chapters © 2024 The authors.

Published under exclusive licence by Emerald Publishing Limited.

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ISBN: 978-1-80455-407-4 (Print)

ISBN: 978-1-80455-406-7 (Online)

ISBN: 978-1-80455-408-1 (Epub)

List of Figures and Tables

About the Editors

Ahmed Imran Hunjra, Rabat Business School, International University of Rabat, Morocco. He has over 12 years of teaching experience in Finance and Quantitative Methods across a large number of universities internationally. His current area of research interest is in the domain of corporate finance, with a strong passion for topics related to the integrity and reputation of corporations, e.g., transparency, accountability, responsibility, fairness, and sustainability. He is a prolific author and has published in a broad range of highly cited international research journals, including International Review of Financial Analysis, Journal of International Financial Markets, Institution & Money, Pacific Basin Finance Journal, Global Finance Journal, Finance Research Letters, International Review of Economics & Finance, Technological Forecasting & Social Change, Journal of Environmental Management, Economic Modelling, International Journal of Finance & Economics, Research in International Business & Finance, Quarterly Review of Economics & Finance among others. He is a senior area editor of the International Journal of Emerging Markets and sits on the Editorial Board of several ABS & ABDC indexed journals. Recently, he won the “Best Researcher Award-2022” from Rabat Business School, “Outstanding Reviewer Award-2021 & 2023” by Emerald Literati, the “Distinguished Reviewer Award-2021” by Virtus Interpress, “Best Paper Award-2022 & 2023” by The Institute of Chartered Accountants of India (ICAI), International Research Award and the “Best University Teacher Award-2020” from PMAS-Arid Agriculture University Rawalpindi, Pakistan. He has supervised six PhDs and over 50 MS/MPhil scholars to successful completion.

Khaled Hussainey is a Professor of Accounting and Financial Management at University of Portsmouth. He has over two and half decades of teaching and research experience at both undergraduate and postgraduate levels. He has a growing research reputation in the field of accounting and finance. He has been featured in the list of “World Ranking of Top 2% Researchers” in the 2022 database created by experts at Stanford University, USA. He has published more than 200 articles in peer-reviewed journals and has written a number of book chapters and edited two books on Corporate Governance in Emerging Economies and Islamic Accounting and Finance. He also won the best paper award from The British Accounting Review in 2007 and the Journal of Risk Finance in 2012. He has supervised more than 70 PhD scholars and has examined more than 130 PhD theses. He has received research grants from the Economic and Social Research Council (ESRC), the British Academy, Qatar National Research Foundation (QNRF), the Financial Reporting Council (FRC), Plymouth University, the University of Portsmouth, and Abu Dhabi University. He is the Co-Editor of the Journal of Financial Reporting and Accounting and Journal of Contemporary Issues in Accounting. He is Associate Editor of International Journal of Finance and Economics, the Journal of Applied Accounting Research, and International Journal of Accounting, Auditing and Performance Evaluation, Review of Accounting and Finance, and the International Journal of Emerging Markets. He is a Guest Editor for a number of Special Issues at top-ranked Journals.

About the Contributors

Wajih Abbassi holds two PhDs, one in Management (Major in Finance) from the Université de Paris-Est-Créteil, France (2022), and one in Finance from the University of Carthage, Tunisia (2011). He taught at Mahdia University (Tunisia), Kairouan University (Tunisia), and Qassim University (Saudi Arabia) before joining Muscat University (Oman). Dr Abbassi's research interests cover corporate governance, capital structure, debt choice, sustainability, and derivatives. Dr Abbassi is also the MSc Finance programme coordinator at Muscat University, after having been the Director of the undergraduate finance programme, member of the AACSB accreditation committee, and member of the AoL committee at Qassim University (KSA). He has an interdisciplinary scope with publications in ABDC/ABS peer-reviewed journals.

Ferdaous Abdallah holds a bachelor's degree, a master's degree, and a doctorate in finance entitled “Banking governance, performance and disclosure of social responsibility: A comparative analysis Islamic VS. Islamic” at the Faculty of Economics and Management of Tunis, Tunisia. She is also a Teacher Researcher at Ezzitouna University of various subjects (financial markets, Islamic financial engineering, financial mathematics, financial accounting…). The author has been a member, for 10 years, of the international finance group Tunisia IFGT research laboratory. Her research focuses on banking governance, social responsibility, and Islamic finance.

Rasha Ashraf Abdelbadie is a Lecturer in Accounting at Edinburgh Napier University. Her PhD in Accounting and Finance is from Newcastle University, UK. Rasha acts as the Accounting and Finance subject group's Academic Lead for My Development aiming at advancing employability skills, which are pivotal to the success of graduates in a constantly changing environment. The programme lays the groundwork for understanding the challenging environment within which future business leaders will operate. Her research projects promote a transdisciplinary approach interrogating and exploring the transformative interrelationships/events between economics, finance, accounting, and law to inform theory, practice and policy. Before joining the Business School at Edinburgh Napier University, Rasha acted as the University of Dundee Business School's Academic Lead for Principles of Responsible Management Education (PRME). She was the Accounting and Finance discipline representative of the UDSB's Equality, Diversity, and Inclusion (EDI) Committee. Rasha was also one of the University Advisers for the Enactus Student Society.

Hind Dheyaa Abdulrasool completed her PhD at the Faculty of Management, Universiti Teknologi Malaysia, Johor Bahru, Malaysia. She is also an Associate Professor at the College of Administration and Economics, University of Al Qadisiyah, Al Diwaniyah, Iraq. Abdulrasool obtained her MBA from the University of Al Qadisiyah. Her research interests are in finance studies. Abdulrasool serves as a reviewer and has published papers in numerous journals.

Gul Afshan is an Assistant Professor at Sukkur IBA University. She has earned her doctoral degree from Aix Marseille University, France. She has published more than 20 research articles in well-reputed journals in the field of leadership, knowledge management, and women entrepreneurship. She has presented her research in top academic conferences such as academy of management, British academy of management, ANZAM, and EURAM. She is also reviewer of various quality journals and has been recognized among the top reviewer by Journal of Business Ethics.

Fatma Ahmed is working at the school of Environment and Sustainability at the University of Saskatchewan, Canada. She holds a PhD in Economics from Swansea University, UK, where she studied the political connections in the GCC banks. She also has a master's degree in Economic Development from Doha Institute for Graduate Studies, Qatar. She has published several papers on topics such as sustainability, corporate governance, stock market factors, political connection, and capital structure in various journals. She is interested in sustainability, economics of happiness, human development, and ethnicity and race issues. Additionally, She acts as a referee for academic journals such as, Journal of Applied Accounting Research, International Journal of Emerging Markets, the International Journal of Accounting, Auditing and Performance Evaluation and other international journals.

Mariam Ahmed, a certified HR Professional with over 3 years of experience in the Human Resources field, obtained her education from the esteemed AAST (Arab Academy for Science, Technology, and Maritime Transport). She is currently pursuing a master's degree in human resources. In addition to her HR expertise, Mariam has a background in Business Administration, with a major in Business Administration and a minor in Marketing from the Faculty of Commerce. This diverse educational background equips her with a well-rounded understanding of organizational dynamics and business principles. One area that particularly interests Mariam is corporate social responsibility and sustainability. Through her experience in organizational development and organizational learning, she has developed a passion for integrating socially responsible practices into HR strategies. She recognizes the importance of sustainability in today's business environment and strives to contribute to creating workplaces that are ethical, socially conscious, and environmentally friendly.

Ahmad Al-Hiyari is an Assistant Professor of Accounting at the University of Khorfakkan, UAE. He received his PhD in Accounting from the College of Business (COB) at the University Utara Malaysia in 2016. He graduated in 2010 with a master's degree in accounting from the University of Jordan. His primary research focuses on issues related to auditing, financial reporting, corporate governance, and CSR. His teaching interests include financial accounting, managerial accounting, auditing, and financial management. He published in a number of reputable international journals.

Mehwish Ali has completed her MS in Finance from Department of Business Administration, Ghazi University, Dera Ghazi Khan, Pakistan. She has engaged herself in research activities in the field of finance. Her research interests include corporate governance, financial performance, and financial policies.

Faozi A. Almaqtari is an Assistant Professor of Accounting at A'Sharqiyah University in Oman. Dr Faozi holds a PhD degree in Accounting from Aligarh Muslim University, India, a Master of Commerce (Outstanding and 1st Rank) from Savitribai Phule Pune University, India, and a BA in Accounting (Outstanding and 1st Rank) from Hodeidah University, Yemen. Dr Faozi began his career as a Lecturer in the Department of Accounting at Hodeidah University, Yemen. He has also served as an Assistant Professor at the University of Malaysia Terengganu, Malaysia, and Amity University, India. He has authored, co-authored, and reviewed various articles published in prestigious Scopus and ISI Web of Science journals. Passionate about research, Dr Faozi has presented his research papers at international conferences and seminars held in multiple countries. His research interests encompass a wide range of areas, including ESG, corporate governance, financial reporting, auditing, and the application of artificial intelligence in accounting.

Khawla Radi Athab Al Shimmery holds a PhD in Business Administration from the University of Al-Qadisiyah, Iraq. She has research in Saada in the study of business in general, especially in the field of production management. Researches published in many journals.

Muhammad Arslan has research interests in Fintech, Machine learning, Financial Time Series. Currently, he works at the Faculty of Management Sciences, as a Lecturer in Foundation University Islamabad, Pakistan.

Zubaida Ashraf is a proficient author and academic with strong research background in management science. She completed her Bachelor of business administration in human resource management and MSc in management sciences from Sukkur IBA University, Pakistan. Her research and interests lie mainly within the field of human resource management, CSR, environment management, and sustainability. She has published in quality journals.

Tanveer Bagh is currently pursuing PhD degree with Central University of Finance and Economics, School of finance, Beijing, China. He earned his master's degree in finance from Riphah International University, School of leadership, Pakistan 2020 and MBA from University of Azad Jammu and Kashmir Muzaffarabad (UAJK), school of business administration, Pakistan. He has published more than 20 research papers in reputed Journals. His research interest includes technological forecasting, economic policy, risk management, green finance, climate change risk, and corporate sustainable finance.

Nousheen Tariq Bhutta is an Assistant Professor and HEC-recognized supervisor in Capital University of Science and Technology, Islamabad, Pakistan. She has more than 10 years of teaching experience including the International University in KSA. She completed her PhD at International Islamic University, Islamabad, Pakistan with partial research at the State University of New York at Oswego, USA. She is a Post Doc from the University of Sannio, Benevento Italy. She has published research papers in International reputed Journals. She has attended international research conferences as a presenter and Session Chair.

Amani Bouabdellah is a research scholar in the faculty of economics and management at University of Sfax, Tunisia. Her research interests include corporate governance, accounting, earnings management, and CSR. She is publishing in international journals.

Adel Boubaker is a Research Professor at the Faculty of Economics and Management of Tunis, Tunisia, since 1996. He is a University Professor with a doctorate in management sciences specializing in finance from the University of Paris I Panthéon Sorbone in 1996. He is also Director of the International Finance Groupe IFGT research laboratory. He has been the Director of the finance and compatibility department at the FSEGT since 2020. He has published more than 45 articles dealing with various issues related to corporate finance, market finance, and Islamic finance and banking.

Nils Braakmann is a Professor of Economics at Newcastle University, UK. His work focuses on empirical microeconomics, typically using large-scale datasets and microeconometric techniques to investigate questions mainly drawn from labor economics, the economics of crime, health economics, international economics, and urban economics.

Akmal Shahzad Butt earned her PhD (Finance) from Iqra University Islamabad, Pakistan. He has research interests in corporate finance, corporate governance, capital market, and Islamic financial system. Currently, he is working at Preston University Islamabad, Pakistan in the Faculty of Management Sciences, as an Assistant Professor.

Ines Bouaziz Daoud is an Assistant Professor at the Faculty of Economics and Management, Sfax University, Tunisia, where she specializes in accounting and taxation. She obtained her PhD in 2012 in Accounting From the university of Tunis-ElManar, and holds a BS degree in Mathematics and MS degree in Accounting from the University of Sfax. Dr Ines is teaching several subjects in Accounting, Taxation, and Management information system and digitalization including Advanced Financial Accounting, Theory of the Financial Accounting, Managerial Accounting, Accounting Research and practice, Research issues in Taxation, Government and Not for Profit Accounting, Business Valuation and Mergers, and acquisitions for both MBA and LBA levels. Dr Ines has published several papers in accounting and taxation. Her main research interest is about accounting and tax policy, book-tax differences, earnings quality and cost of capital, free cash-flows theory and debt monitoring hypothesis, earnings management and tax management, corporate governance, CSR and ownership structure, information system and digitalization. Dr Ines' duties also include supervising and evaluating research students in accounting, participating in several committees, and being an academic coordinator and advisor.

Ezzeddine Delhoumi is an Assistant Professor of quantitative methods at IHEC Carthage, Tunisia. His research interests includes MSMEs growth, performance and business constraints, financial markets, digital finance, economic development.

Salem Eltkhtash is a Lecturer in accounting and finance at the University of Benghazi, Libya; and Associate at University of St Andrew and University of Dundee in Scotland. His experience began with teaching undergraduate students for more than 9 years in University of Benghazi-Libya, University of St Andrew-Scotland, University of Dundee-Scotland, and University of Dundee-Scotland (Oxford International Education). Moreover, he is supervising master students' dissertations at the University of Dundee-Scotland. He has an experience in the social field as he worked in supporting refugees and helped them to resettle in Dundee-Scotland.

Flor Silvestre Gerardou is an Associate Lecturer for online programs at University of Lincoln, UK. She has taught several undergraduate modules in accounting specializing in Financial Accounting, Corporate Social Responsibility, and Business Ethics in different universities in the United Kingdom. She has also been module leader for Dissertations at the undergraduate and postgraduate levels. Flor is an Associate in Higher Education Academy, and she holds two teaching qualifications, Postgraduate Certificate in Higher Education, and Graduate Certificate in Academic Practice. Her main research interest includes fiscal decentralization arrangements, entrepreneurial drivers, and human, social and political capitals. Her pedagogical research includes challenge-based learning and knowledge sharing.

Belal Ali Ghaleb is an Assistant Professor of Accounting at the University of Tabuk in Saudi Arabia. Previously, he held the position of International Senior Lecturer of Accounting at the Tunku Puteri Intan Safinaz School of Accountancy (TISSA), Universiti Utara Malaysia (UUM), Malaysia. His research interests encompass Financial Accounting and Reporting, Corporate Governance, Earnings Management, CSR, Integrated Reporting, and Auditing. Belal has published academic articles in renowned journals such as Meditari Accountancy Research, Spanish Accounting Review, Journal of Accounting in Emerging Economies, Cogent Business and Management, Journal of Financial Reporting and Accounting, and Sage Open. Additionally, he serves as a reviewer for several international journals and holds associate memberships in some international accounting professional bodies such as BAFA in the UK and MyAA in Malaysia.

Esam Emad Ghassab is an Assistant Professor in Accounting at the Department of Accounting, the Hashemite University, Jordan. His research interests focus on CSR reporting and corporate governance.

Nadia Gulko is an Associate Professor of Accounting at the University of Lincoln, UK. She is a Senior Fellow of the HEA, CGMA Academic Champion in the United Kingdom, and qualified with CIMA. Nadia teaches undergraduate, postgraduate, and online MBA courses, specializing in strategic management accounting and CSR reporting. She previously held academic leadership roles as School Director of Teaching and Learning (2018–2021) and as Programme leader for MSc Governance (2017–2019). She holds the prestigious CIMA Global Champion Teaching Excellence Award 2020, Vice Chancellor's Teaching Award 2018, and in 2021 was nominated by the Eleanor Glanville Centre for significant impact to the Lincoln International Business School. Her research focuses on CSR/SDGs reporting, corporate board diversity, environmental management accounting, and accounting education. Before joining academia, she worked in industry for more than 10 years in leadership positions in accounting and management. She is a member of several research communities and is on the Editorial Board of the Journal of Accounting Education, and an Associate Editor of the South African Journal of Accounting Research.

Salaheldin Hamad holds a prestigious position as a Lecturer at the Faculty of Commerce, Kafrelsheikh University, located in Kafr el-Sheikh, Egypt. He holds a Doctor of Philosophy (PhD) degree in Management, which he obtained from the Department of Management and Humanities at Universiti Teknologi PETRONAS. Dr Hamad's scholarly achievements extend beyond his academic qualifications. He has actively participated in numerous International Conferences, where he has presented his research papers. Moreover, he has published articles in esteemed journals such as the Sustainability Accounting Management and Policy Journal, Sustainable Development, and SAGE Open.

Benabdallah Hamza is currently pursuing his PhD at Sidi Mohamed Ben Abdellah University in Fez, Morocco. He holds a master's degree in Management and Corporate Strategy from Cady Ayyad University in Marrakech. His area of specialization is in Family Business and Strategy. He has developed a deep expertise in the field of Family Business and Strategy, focusing specifically on the unique dynamics and challenges that arise within family-owned enterprises. With a particular interest in fostering innovation within family businesses, he actively engaged himself in multiple research projects aimed at exploring innovative strategies and practices that drive long-term growth and sustainability in these contexts.

Dr Ahmed Hassanein is an Associate Professor of Accounting at the Gulf University for Science and Technology, Kuwait, and Mansoura University, Egypt. He is an “Associate Editor” of the Journal of Financial Reporting and Accounting. He has a good record of research publications in international peer-reviewed journals. His current research areas include corporate sustainability, corporate reporting, risk governance, IFRS, firm valuations, artificial intelligence, blockchain, big data, and bibliometric analysis. Likewise, he is a Certified Management and Business Educator (CBME) and an Associate Fellow of the UK Higher Education Academy (UK-HEA). He has 18 years of teaching experience in the UK, UEA, Egypt, and Kuwait. He also offers professional training programs in corporate sustainability, Islamic accounting, risk management, and International Financial Reporting Standards (IFRSs). Likewise, he has a good record of research publications in international peer-reviewed journals. His current research areas include corporate sustainability, corporate reporting, risk governance, IFRS, firm valuations, artificial intelligence, blockchain, big data, and bibliometric analysis.

Majdi Hassen is an Accomplished Scholar and Educator in the field of Finance. In September 2014, he achieved his PhD in Management (Finance) with a Very Honorable Mention from FSEGT. Over the years, Majdi HASSEN has amassed a wealth of professional experience, contributing significantly to academic institutions and the world of financial research. From 1999 to 2003, he worked as a Permanent Assistant at the Faculty of Legal, Economic, and Management Sciences of Jendouba (FSJEGJ). He taught courses like special accounting, portfolio management, and financial theory to 3rd-year finance students. He also supervised numerous end-of-study dissertations in Finance. Since 2004, he has held the position of Permanent Master-Assistant at the Higher School of Economics and Commercial Sciences of Tunis (ESSECT). He has been instructing courses on various aspects of banking, project analysis, and financial institutions. He has supervised numerous end-of-study dissertations and master's theses in risk management. Additionally, he served as a Temporary Assistant at Tunis Business School and contributed to courses such as “Money and Banking.” His commitment to education and research is further demonstrated by his pedagogical coordination of the Professional master's program in “Management of Non-profit Organizations.” Majdi HASSEN's extensive involvement in academia is also shown in his roles as a member of various committees and editorial boards. He has made notable contributions to the field through a series of well-received research papers that were published in several journals, addressing subjects ranging from CEO compensation and investment efficiency to the impact of the COVID-19 pandemic on financial sector stock returns.

Anas Hattabou is an Associate Professor in the Polydisciplinary Faculty of Taroudant, Ibn Zohr University, Morocco. He holds his doctorate from Cadi Ayyad University, Morocco, and Montesquieu Bordeaux IV University, France. He is also a member of the GREFSO (Research Group on Family Businesses and Organizational Strategies) at Cadi Ayyad University and the IRGO (Institute for Research in Organizational Management) at Montesquieu Bordeaux IV University. His research interest includes CSR, small and medium enterprises, and strategic management.

Athar Iqbal is an accomplished academician and corporate governance expert with over 20 years of experience in academics. With a strong background in finance and a focus on corporate governance, he has made significant contributions to both research and teaching. He holds a PhD in Finance, specializing in corporate governance. The rigorous research undertaken during the doctoral program has equipped him with advanced analytical skills and a deep understanding of the intricate dynamics of corporate governance mechanisms. Additionally, he is a qualified Cost and Management Accountant, providing a solid foundation in financial management and strategic decision-making. He is currently serving as an Associate Professor, imparting knowledge and shaping the minds of students in prestigious educational institutions. Their expertise in corporate governance has been instrumental in designing and delivering courses that provide a comprehensive understanding of governance practices, ethical considerations, and regulatory frameworks to future business leaders.

Tariq H. Ismail is a Professor of Accounting at the Faculty of Commerce, Cairo University, Egypt. He is currently the Dean of Business School at the International Academy of Engineering and Media Science, Egypt. He has published numerous articles in a number of high-ranked, peer-reviewed journals listed in Web of Science, SCOPUS, and the Australian Business Deans Council quality list, and has many books which had worldwide audience. He had many research grants and excellence awards for the contributions he made in his field. He is the Founder and the Editor-in-Chief of the Academy Journal of Social Sciences and the Associate Editor of Journal of Humanities and Applied Social Sciences. He is on the editorial board of several reputable International journals. His current research focuses on auditing, CSR, disclosure quality and financial reporting, accounting in emerging economies, corporate governance, and narrative reporting.

Maryam Kalhoro earned her BS Commerce followed by MS from university of Sindh, Jamshoro, Pakistan. She earned MBA (Finance) from SZABIST, Pakistan and PhD from Universiti Tunku Abdul Rahman, Kampar, Perak, Malaysia. At present she is working as a Lecturer of Business Administration, Sindh University Campus Larkana, Pakistan. Her present research interests are related to HRM and Sustainability, organizational behavior, human Behavior, CSR, and public transportation. She has published several impact factor research articles in international journals.

Rachida Khaled is a doctor of economics from the faculty of economics and management of Sousse and currently a teacher-researcher at the University of Caen Normandy in France. She obtained her doctorate in 2016 in Economic Science from the University of Sousse, and holds a BS degree in finance and development (University of Sousse) and a MS degree in financial and banking economics from the University of Monastir. Dr Rachida KHALED teaches several subjects in Economic Sciences such as: macroeconomics, microeconomics, principle of economics, general economics, development economics, statistics, history of economic thoughts and facts, the major contemporary economic issues. Dr Rachida KHALED has published several articles on green economy. His main research interests focus on the issues of technological innovation in the sustainability of the agricultural sector.

Muhammad Irfan Khan is an Associate Professor in the Accounting and Finance Department, College of Business Management at IoBM Karachi, Pakistan. He earned his PhD degree in Finance in the year 2015. He has 16 years of work experience in Academia and 6 years experience in corporate sector. He has participated in various international research conferences as paper presenter and Session Chair. Currently he is serving as a Reviewer in various nationally recognized as well as International Impact Factor Research Journals. He has published several research papers in national as well as international research journals. He has also got publication of one book on the topic of “Development Financing and Economic Governance” and several book chapters with the HEC recognized publishing companies. He has special interest in the areas of corporate finance, corporate governance, and stock market development.

Mansoor Ahmed Khuhro is an Assistant Professor and Director Campus at Shaheed Benazir Bhutto University, at Sanghar Campus in Pakistan. He has earned his doctoral degree from Putra Business School, University Putra Malaysia. His area of interest includes psychological contract, leadership, and CSR. He has published in well-reputed journals.

Mohamed Chakib Kolsi is an Associate Professor of accounting at the University of Sfax, Tunisia since 2017 and at Emirates College of Technology since 2020. He earns more than 20-years teaching experience and 10-years’ experience as head of the accounting department. He received his PhD in the accounting sciences from the University of Manouba Tunisia in 2010. He published numerous research papers in higher ranked journals and book chapters and participated in many international conferences and seminars. Dr Kolsi served as guest editor/reviewer for many journals and referee for academic and professional dissertations. Dr Kolsi supervised several research projects at the levels of master and PhD degrees. His research interests include corporate social responsibility, environmental reporting, sustainability, Islamic finance, auditing, earnings management, corporate governance, and IFRS.

Reza Kouhy is Head of Department of Accounting, Economics and Finance, Heriot Watt University, Edinburgh, Scotland. Professor Reza Kouhy is the Head of Department Accounting, Economics and Finance and Professor of Energy and Environmental Accounting.

Abderrahmane Laib is a Professor in the field of Management at Farhat Abbes University in Setif, Algeria, where he has been imparting his knowledge since 2004. His primary research interests encompass CSR, corporate governance, internal audit, and project management. Professor Laib's scholarly work is well-recognized, with numerous articles published in both Algerian and international scientific journals. He has actively contributed to several international conferences and congresses held in Algeria, France, Saudi Arabia, and Bahrain. Additionally, he has co-authored multiple collective works focused on sustainable development and CSR.

Muhammad Arshad Mehmood is MS Scholar in Finance in the University Institute of Management Sciences of Arid Agriculture University Rawalpindi, Pakistan.

Rashid Mehmood has completed his PhD in Finance from PMAS-Arid Agriculture University Rawalpindi, Pakistan. He is currently serving as an Assistant Professor in UE Business School, University of Education, Lahore, Pakistan. Areas of research interests of Rashid Mehmood include corporate diversification, corporate governance, corporate finance, financial risk management, and financial policies. He has 8 years of teaching and research experience. He has supervised 20 students of MBA in the field of Finance. He has published 15 plus research papers in national and international journals.

Qurat-ul-Ain Memon is a PhD scholar at University of Malaysia, Sarawak, Malaysia. She is also the Deputy Director HRM at Sindh Madressatul Islam University, Karachi, Pakistan. Her area of research includes employee motivation and job satisfaction. She has presented her research in various academic conferences.

Ahmed Helmy Mohamed Gomaa Mohamed Accounting department – College of Business Administration – Umm Al-Qura University, Saudi Arabia. Born on December 8, 1961 – Arab Republic of Egypt/Port Said – Promoted to the rank of Professor in 2009 – Associate Professor in 2003, PhD in Accounting Philosophy in 1995 – Masters in Accounting in 1991 – Graduate Diploma in Accounting and Auditing in 1987 – Bachelor of Accounting in 1983, the author of research (55) published and accepted for publication in international and local journals, specialized articles, participation in conferences and seminars in the field of accounting and auditing, and he has many books (66) in the areas of financial accounting, costs, management, auditing and scientific research, as well as an encyclopedia (10 He wrote) on the development of international standards for quality control, auditing, examination, and other assurance processes and related services. He is also currently working as a professor of accounting and auditing, in the Accounting Department/College of Business Administration – Umm Al-Qura University in Makkah Al-Mukarramah, and a consultant to the university's Vice President, a consultant to the university's planning and budget department, and a consultant to the authority Saudi Institute for Auditors and Accountants. He also worked as a Professor of accounting and auditing (1995–2012) at Al-Zaytoonah and Al-Israa Universities in Jordan.

Faten Moussa is an Associate Professor of Finance at Mediterranean Business School of South Mediterranean University, Tunisia. Her research interests are corporate finance, financial markets, digital finance, market efficiency, sustainable finance, ESG. She has published in many journals.

Muhammad Umer Mujtaba has completed his MS in Finance from Department of Business Administration, Ghazi University, Dera Ghazi Khan, Pakistan. He has engaged himself in research activities in the field of finance. He is working in Technical Education and Vocational Training Authority. His research interests include corporate governance, financial performance, and financial policies.

Mirza Muhammad Naseer is a Special Lecturer and PhD scholar at International Business School, Teesside University, Middlesbrough, United Kingdom. He has published more than five research papers in well reputed journals. His research interest includes CSR, corporate finance, climate change risk, and sustainable finance.

Emad M. Hashem Otri is a PhD candidate and a Lecturer in Accounting and Finance at Abertay University, Scotland. He is currently based in Dundee Scotland. Emad's main interest is in accounting and finance; his PhD focuses on the role of Corporate Social Responsibility Disclosure during the conflict crisis in Syria.

Farrat Outmane completed PhD in economics and Management in 2022 from Sidi Mohamed ben Abdellah University, Fès, Morocco; Master's degree in Market and Corporate Finance from Mohamed V University Rabat, Morocco. His areas of research interest are financial communication, financial and extra-financial reporting, and CSR. He has published theoretical and empirical articles in national and international journals. His work focuses on assessing the quality of financial and extra-financial communication in the Moroccan context.

Sumaia Ayesh Qaderi is an assistant professor of accounting at the College of Business Administration, University of Hail, Saudi Arabia. She holds a PhD in Accounting from Universiti Utara Malaysia (UUM), Malaysia. Her research interests include integrated reporting, CSR reporting, corporate disclosure, and corporate governance. Her articles have appeared in academic journals such as the Journal of Financial Reporting and Accounting, SAGE Open, Journal of Sustainable Finance & Investment, Cogent Business & Management, and Sustainability.

Hifsa Hussain Raja is an accomplished financial analyst professional. She holds MS in Finance from Capital University of Science and Technology, Pakistan. Her area of interest is machine learning, sentiment analysis, and behavioral finance.

Kathyayini Kathy Rao is a Senior Lecturer in Accounting at the University of South Australia Business School, Australia. Her research interests are broadly related to governance, CSR, and modern slavery in corporate supply chains, seeking to contribute to the development of the social and economic conditions of society locally and globally. She has published her research in high-ranking international academic journals including the Journal of Business Ethics, Accounting, Auditing and Accountability Journal and Meditari Accountancy Research.

Channoufi Sabrine was born on September 23, 1992 in Tunis. Currently, she is a 4th-year doctoral student (specializing in Economics) at the University of Economics and Management of Tunis el Manar, Tunisia. Her thesis topic is “Managing External Public Debt in Tunisia.” She holds a master's degree in Research in Banking, Finance, and Strategies from the Higher School of Commerce in Tunis, obtained in 2018. She also holds a specialized diploma in Public Finance from the Institute of Customs and Fiscal Economics in Tipaza, Algeria, which she completed in 2017. Since 2018, she has been working as a Financial Services Advisor at the Ministry of Finance in Tunisia. This dual academic and professional experience allows her to approach her work with a comprehensive perspective, considering practical aspects while adhering to research methodologies.

Rachida Sahraoui earned her PhD in Management from Farhat Abbes University in Setif, Algeria, in 2023. With specialization in various aspects of human resources management and internal audit, she has made significant contributions to the field. Dr Sahraoui's research has been featured in both national and international scientific journals, focusing on topics such as social audit and internal audit. She has actively participated in international conferences in Algeria and Bahrain, addressing key issues related to sustainable development and human resources management. Furthermore, she is the author of numerous esteemed publications on social auditing and has co-authored works related to sustainable development and CSR.

Aly Salama is a Chair in Accounting and the Head of the Accounting Group at Northumbria University, UK. Before joining Northumbria, he was an Associate Professor of Accounting at Newcastle University. His previous employers include Nottingham and Durham Universities. He is a CMBE and has taught at HEIs for over 30 years. His PhD was in environmental accounting from the University of Nottingham. His research caught the attention of the ICCSR, the ESRC, and the British Council, which awarded him research grants to support his research. His publications appear in highly impactful journals, e.g., Journal of Accounting and Public Policy, Journal of Business Research, Journal of Business Ethics, British Accounting Review, Technological Forecasting and Social Change, Review of Quantitative Finance and Accounting, Business Strategy and the Environment, European Journal of Finance, Enterprise and Society, International Journal of Information Management, Journal of Accounting in Emerging Economies, and Employee Relations: The International Journal.

Mohsen Anwar Abdelghaffar Saleh is a Lecturer Assistant at the Accounting and Auditing Department, Faculty of Commerce, Assiut University, Assiut, Egypt. He is PhD student at the Accounting School, Zhongnan University of Economic and Law (ZUEL), China. The main research directions are earnings management, CSR, and narrative disclosure. He has more than 3 years' experience in teaching accounting courses in Egypt. He received master's degree from Zhongnan University of Economic and Law (ZUEL), China.

Azza Tawab Abdelrahman Sayed is a Lecturer Assistant at the Accounting and Auditing Department, Faculty of Commerce, Assiut University, Assiut, Egypt. She is a PhD student at the Accounting and Auditing Department, Faculty of Commerce, Assiut University. The main research directions are earnings management and audit quality. She has more than 5 years' experience in teaching accounting courses in Egypt. She received master's degree from Assiut University, Egypt.

Emad Ali Seleem is an Assistant Lecturer in the Accounting and Auditing Department at the Faculty of Commerce, Sadat City University, Egypt. His research interests are corporate governance, big data, integrated reporting, corporate financial reporting, and disclosure.

Sonia Sethi is currently serving as a Lecturer in the Department of Management Sciences Islamia College Peshawar, Pakistan. She has almost 12 years of teaching experience and more than 5 years of research experience. She has completed her PhD in 2019 in the discipline of Management, CSR, and SMEs in the context of Sialkot Punjab, Pakistan, from Islamia College Peshawar, Pakistan. She presented her research work in numerous national and international forums including Oxford University (UK) and Academy of Management (USA). She is a reviewer of both local and international journals. She is also associated with an independent policy think tank Pakistan, Experts Center for Market and Policy Research (ECMPR) since 2020 as Director Marketing & Communication.

Muhammad Kashif Shad is a Lecturer at the Department of Management and Humanities, Universiti Teknologi PETRONAS, Malaysia. He holds a Doctor of Philosophy (PhD) degree in Management, which he obtained from the Department of Management and Humanities at Universiti Teknologi PETRONAS. Dr Shad has made significant contributions to the field of management through his research and academic pursuits. He has presented his scholarly work at various International Conferences, showcasing his expertise and engaging with fellow researchers. Moreover, his insightful findings have been published in reputable journals, including the Journal of Cleaner Production, Sustainability Accounting Management and Policy Journal, Sustainable Development, and Quality & Quantity.

Anum Shafique is a Faculty Member at management Sciences department of Arid Agriculture University, Pakistan. She has research interests in financial markets and financial market volatility. She is persuing her PhD from Capital University of Science and Technology Islamabad.

Syed Quaid Ali Shah is currently pursuing a Doctor of Philosophy (PhD) in Management at the Department of Management and Humanities, Universiti Teknologi PETRONAS in Malaysia. In 2017, he obtained a Master’s degree in Banking and Finance from COMSATS University Islamabad, Abbottabad Campus, Pakistan. Previously, he worked as an Accountant at Clear Image Technology in Dubai, UAE. Mr Shah's research interests encompass a wide range of areas including enterprise risk management, intellectual capital, corporate governance, and sustainability reporting. He has demonstrated his dedication to academic exploration by presenting his papers at various International Conferences and contributing to reputable journals such as Environmental Science and Pollution Research, Quality & Quantity, and the Journal of Chinese Economic and Foreign Trade Studies.

Sarmad Saeed Sheikh holds a BBA degree in Finance from the University Institute of Management Sciences-PMAS-Arid Agriculture University Rawalpindi, Pakistan. With a strong academic foundation, his interests gravitate toward research, leadership, and organizational management. Accumulating more than 4 years of professional experience, primarily within the banking sector, he has cultivated a deep passion for research that keeps him attuned to the latest advancements across various management subjects. Interacting with accomplished professionals from diverse backgrounds has enriched Sarmad's perspective, fostering his dedication to comprehending the nuances of financial markets, risk management, and investment strategies. This dedication sets him apart as a forward-thinking leader within the industry.

Samira Simmou holds a Master of Research in International Trade and Management from the Polydisciplinary Faculty of Taroudant, Ibn Zohr University, Morocco. His research interest includes CSR, social entrepreneurship, and brand management. He has co-authored manuscripts in top-ranked journals (A, B, and C in ABDC), such as Journal of Cleaner Production and International Entrepreneurship and Management Journal, among others.

Walid Simmou is an Accounting Lecturer in the Polydisciplinary Faculty of Taroudant, Ibn Zohr University, Morocco. He is a Doctoral Researcher at the Faculty of Law, Economic and Social Sciences, Ibn Zohr University, Agadir, Morocco. He is also a member of the British Accounting and Finance Association in the United Kingdom and the North American Association of Higher International Education in the United States. His research interest includes CSR, family business, and social entrepreneurship. He has co-authored manuscripts in top-ranked journals (A, B, and C in ABDC), such as Journal of Cleaner Production and International Entrepreneurship and Management Journal, among others.

Hana Tharwat is an Assistant Lecturer specializing in Accounting and Finance at the esteemed Delta Higher Institute for Management and Accounting Information Systems in Egypt. Currently, she is pursuing PhD at Mansoura University, Egypt, with a Master's degree in Financial Accounting. Ms Tharwat boasts a commendable track record of teaching engagements in numerous national and international universities. She has publications in international peer-reviewed journals. Her research pursuits revolve around significant areas such as corporate sustainability, corporate governance, Islamic banking, internal auditing, cybersecurity, and systematic and bibliometric analyses.

Carol Ann Tilt is an Adjunct Research Professor in accounting and sustainability in the UniSA Business School, South Australia. She has over 30 years’ experience in the field of social and environmental reporting with recent emphasis on sustainability reporting in developing countries and the importance of context. She has over 70 publications, is an FCPA, and is on the Editorial Board of a number of high ranked journals.

Christopher Tribble is a consultant specializing in project and programme evaluation, and a Visiting Lecturer in Applied Linguistics at King's College, London. He is currently based in London and in Kendal, Cumbria. While the range of things he does might look like rather an odd mixture, over the years, this diverse career has made sense, with one skill supporting another. A lot of what he does can be described as pattern recognition, because in all his areas of interest the core skills continue to be those of asking the right questions, listening to what people say, looking carefully at what is in front of you, and recognizing what is salient and what is not.

Nadeeka Withanage is a Senior Lecturer in Accounting at the University of Greenwich, London. She got her PhD from the Royal Holloway University of London. She specializes in Management Accounting and Strategic Management Accounting and leads Management Accounting, Advanced Management Accounting, Enterprise Strategy and Business Analysis modules. She is also a Masters dissertation supervisor. She won the UK Gold Award for Teaching Excellence, and the Employability Global Champion Award at the CIMA excellence awards 2020 as well as the Global Silver Award for Teaching Excellence (Most Influential Lecturer) at the CIMA excellence awards in 2021. Her main research focuses on performance management and reporting, CSR reporting, environmental management accounting, sustainability, and accounting education. Nadeeka has many years of experience working both in academia and industry.

Lai Fong Woon, an Associate Professor and Chair of the Department of Management and Humanities at Universiti Teknologi PETRONAS in Malaysia, possesses an impressive academic and professional background. He holds a Bachelor of Science degree in Business Administration (Finance) and a Master of Business Administration (Finance) from the University of Nebraska-Lincoln, USA. Additionally, he obtained his PhD in enterprise risk management from the University of Malaya, Malaysia. Before pursuing a career in academia, Dr Lai gained practical experience by working in two prominent stock broking companies in Malaysia. During this time, he held an Investment Advisor's Representative License issued by the Malaysian Securities Commission in 1997. Furthermore, he served as an external writer for licensing examinations conducted by a respected industry authority in the country. Dr Lai's expertise is well-recognized in the academic community, evident through his publications in management books and indexed journals. He has also presented his research papers at both local and international conferences, covering a wide range of areas such as corporate finance, strategy, risk management, socioeconomic analysis, and higher education research. As an active member of professional bodies, Dr Lai has affiliations with esteemed organizations including the Australasian Institute of Banking and Finance, Malaysian Institute of Management, Professional Risk Managers International Association, and Malaysian Association of Risk and Insurance Management.

Dejun Wu is a Professor, Doctoral Supervisor, Doctor of Accounting, and Visiting Scholar of the University of Hong Kong, Hong Kong. He is currently the executive director of the Environmental Resource Accounting Research Center of Zhongnan University of Economics and Law. The main research directions are earnings management, financial manipulation, CSR, environmental accounting, capital market accounting, and financial issues. He has published more than 40 papers in SSCI and important domestic journals and textbooks. He served as an independent director, management consulting and training expert for several listed companies and large enterprises.

Esraa Saady Mohamed Zidan holds a master's degree in auditing from, the Faculty of Commerce Cairo University, Egypt. Her research interests are corporate governance, auditing, corporate financial reporting and disclosure.

Hajji Zouhai completed PhD in Economics and Management in 2021 and a master's degree in Information Systems Management from Sidi Mohamed ben Abdellah University, Fès, Morocco. His areas of interest are management control systems, value creation and performance, and societal and environmental responsibility. He has published theoretical and empirical articles in national and international journals. His work focuses on activity-based costing (determinants of adoption, success factors for implementation, and impact on corporate performance), value creation, and sustainable performance.

Bushra Zulfiqar earned her PhD (Finance) from Iqra University Islamabad, Pakistan. She has research interests in working capital management, corporate governance, and the Islamic financial system. Currently, she is working in the Faculty of Management Sciences, as an Assistant Professor in PMAS-AAUR Rawalpindi, Pakistan.

Preface

Welcome to “The Emerald Handbook of Ethical Finance and Corporate Social Responsibility: A Framework for Sustainable Development.” In a world where the fates of business prosperity and societal well-being are increasingly intertwined, this handbook serves as an indispensable guide for navigating the complex terrain of ethical finance and corporate social responsibility. Drawing upon the collective wisdom of leading experts in the field, this book offers a comprehensive framework to drive sustainable development, making it a valuable resource for both scholars and practitioners.

Whether you are a seasoned professional, an aspiring entrepreneur, or a dedicated scholar, this handbook will empower you to make ethical financial decisions that promote positive social change and contribute to a future where prosperity aligns harmoniously with the well-being of our planet and its inhabitants. With a focus on both profitability and a sense of purpose, “The Emerald Handbook” invites you to embark on a journey of responsible finance, paving the way for a more just, sustainable, and prosperous world for generations to come.

Within the pages of this handbook, you will discover an invaluable resource for those seeking a deeper understanding of ethical finance, corporate social responsibility, and their pivotal roles in forging a path toward sustainable development. Here, readers will find a wellspring of knowledge, insights, and practical guidance to navigate this vital intersection of finance, ethics, and social responsibility.