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Are Ethical Banks Different? A Comparative Analysis Using the Radical Affinity Index

San-Jose, Leire, Retolaza, Jose Luis and Gutierrez-Goiria, Jorge (2011) Are Ethical Banks Different? A Comparative Analysis Using the Radical Affinity Index. Journal of business ethics, 100 (1). pp. 151-173. ISSN 1573-0697

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    Abstract

    This article studies the differences
    between traditional financial intermediaries (commercial banks, savings banks and cooperative banks) and ethical banks based on property rights, in which the owner decides the ideology, principles, standards and objectives of the organisation. In ethical banking, affinity centres on positive social and ethical values. The article consequently focuses on an index proposed both to differentiate ethical banks from other types of banks, and also to pinpoint the differences between the various ethical banks themselves. This is the Radical Affinity Index (RAI), which groups banks together in terms of their stance on ethical commitment, concentrating on ethical ideology and principles (information transparency, placement of assets, guarantees
    and participation) and using a sample of 114 European banks. The evidence shows that transparency of information and placement of assets are factors that differentiate ethical banks from other financial intermediaries.
    Guarantees and participation are characteristics specific to ethical banks; these variables, however, do not offer clear evidence to our analysis.

    Item Type: Article
    Uncontrolled Keywords: assets placement, ethical banking, guarantees, participation, Radical Affinity Index, ranking, transparency
    Subjects: H Social Sciences > H Social Sciences (General)
    H Social Sciences > HG Finance
    Schools: The Business School
    The Business School > Financial Ethics and Governance Research Group
    Related URLs:
    Depositing User: Leire San Jose
    Date Deposited: 09 Jun 2011 14:09
    Last Modified: 09 Jun 2011 14:27
    URI: http://eprints.hud.ac.uk/id/eprint/10689

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