Socially responsible investing (SRI) allows investors to make a profit while perpetrating social good. It requires investors to identify companies or mutual funds that agree with their beliefs, and choose the ones with adequate financial performance. SRI advocates a long-term perspective—investors are advised to choose their stocks and mutual funds carefully and invest for the long-term. Unlike other investment strategies, however, SRI expands the definition of long-term value to include the impact a particular investment vehicle has on the community at large in terms of social, economic, and environmental justice. The Rule of St. Benedict, written in the 6th century CE, also advocates ways of thinking and acting which support social, economic, and environmental justice, and adherents of the Rule have been basing investment decisions on its teachings for over 1,500 years. This paper attempts to develop a new conceptual role for the corporation, and uses Benedictine teachings to articulate a new way of thinking about socially responsible investing.
|Keywords:||Rule of St. Benedict, Socially Responsible Investing, Social Justice, Sustainability|
Associate Professor, Human Resource Management, Hawaii Pacific University, Honolulu, HI, USA
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