Putting our money where their mouth is:alignment of charitable aims with charity investments – tensions in policy and practice

Kreander, Niklas and Beattie, Vivien and Mcphail, Ken (2009) Putting our money where their mouth is:alignment of charitable aims with charity investments – tensions in policy and practice. British Accounting Review, 41 (3). pp. 154-168. ISSN 0890-8389

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Abstract

Given the values-driven nature of the mission of most charities, it might be expected that investment behaviour would be similarly values-driven. This paper documents the ethical investment policies and practices of the largest UK charities and explores how these are aligned with the charitable aims, drawing upon accountability, behavioural and managerial perspectives as theoretical lenses. The study employs two distinct research methods: responses to a postal questionnaire and follow-up semi-structured interviews with selected charities. The evidence indicates that a significant minority of large charities do not have a written ethical investment policy. Charities with larger investments, fundraising charities and religious charities were more likely to have a written ethical policy. We suggest that there is a pressing need for improved alignment between charities' aims and their investment practices and better monitoring of investment policies.

Item Type: Journal Article
Journal or Publication Title: British Accounting Review
Uncontrolled Keywords: /dk/atira/pure/subjectarea/asjc/1400/1402
Subjects:
Departments: Lancaster University Management School > Accounting & Finance
ID Code: 64375
Deposited By: ep_importer_pure
Deposited On: 09 May 2013 08:21
Refereed?: Yes
Published?: Published
Last Modified: 06 Aug 2019 01:28
URI: https://eprints.lancs.ac.uk/id/eprint/64375

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