The Role of Financial Management in Promoting Sustainable Business Practices and Development

21 Pages Posted: 29 Oct 2019

See all articles by Mariam Al Breiki

Mariam Al Breiki

Abu Dhabi University

Haitham Nobanee

University of Oxford; Abu Dhabi University; University of Liverpool

Date Written: October 19, 2019

Abstract

The number of organizations that embrace societal expectations as part of their business strategies is on the rise. Increasing reliance on sustainable issues by a business is critical to the growing interconnectedness and future value of a business. This study aimed at exploring the role of financial management in promoting sustainable business practices and development. Based on thematic analysis of resources from varied scholars, it confirms that appropriate financial management models are necessary to enhance productivity while mitigating issues of financial risks. The findings also indicated that allocating capital budgeting for sustainable issues enhances the competitive advantage of the business, and utilization of western and the Islamic financial are efficient sustainability measures. The study concludes that financial management plays a vital role in promoting sustainable business practices and development.

Keywords: Sustainable Business Practices

Suggested Citation

Al Breiki, Mariam and Nobanee, Haitham and Nobanee, Haitham, The Role of Financial Management in Promoting Sustainable Business Practices and Development (October 19, 2019). Available at SSRN: https://ssrn.com/abstract=3472404 or http://dx.doi.org/10.2139/ssrn.3472404

Mariam Al Breiki

Abu Dhabi University

Abu Dhabi
United Arab Emirates

Haitham Nobanee (Contact Author)

Abu Dhabi University ( email )

Abu Dhabi
United Arab Emirates

University of Oxford ( email )

Mansfield Road
Oxford, Oxfordshire OX1 4AU
United Kingdom

University of Liverpool ( email )

Chatham Street
Liverpool, L69 7ZA
United Kingdom

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