Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Western Financial Agents and Islamic Ethics
AU - Fang, E.S.
AU - Foucart, R.
PY - 2014/9/1
Y1 - 2014/9/1
N2 - This paper investigates Western professional bankers’ perceptions of Islamic finance. Exploiting data from an original survey, we carry out a principal component analysis (PCA) to characterize the main dimensions on which financial agents diverge. The PCA extracts five dimensions—accounting for 61 % of the variance in the agents’ answers—that we interpret with the help of a pilot field survey. In addition to confirm the increased association of Islamic financial values with ethical practices in the West, our results allow us to understand how the observed growth of the industry has been conceptualized by conventional agents. The five dimensions identified shed light on the multitude of constructs that have informed the diffusion of Islamic financial ideas to international markets. This supports the fact that Islamic finance cannot be seen as a single movement but is characterized by opposing and concurrent logics in global markets. © 2013, Springer Science+Business Media Dordrecht.
AB - This paper investigates Western professional bankers’ perceptions of Islamic finance. Exploiting data from an original survey, we carry out a principal component analysis (PCA) to characterize the main dimensions on which financial agents diverge. The PCA extracts five dimensions—accounting for 61 % of the variance in the agents’ answers—that we interpret with the help of a pilot field survey. In addition to confirm the increased association of Islamic financial values with ethical practices in the West, our results allow us to understand how the observed growth of the industry has been conceptualized by conventional agents. The five dimensions identified shed light on the multitude of constructs that have informed the diffusion of Islamic financial ideas to international markets. This supports the fact that Islamic finance cannot be seen as a single movement but is characterized by opposing and concurrent logics in global markets. © 2013, Springer Science+Business Media Dordrecht.
KW - Business ethics
KW - Global finance
KW - Islamic finance
KW - Principal component analysis
KW - Social psychology
U2 - 10.1007/s10551-013-1850-8
DO - 10.1007/s10551-013-1850-8
M3 - Journal article
VL - 123
SP - 475
EP - 491
JO - Journal of Business Ethics
JF - Journal of Business Ethics
SN - 0167-4544
IS - 3
ER -