You are here

Academic to publish pioneering research on ethical finance

14 Mar 2017 11:30AM

Illegal, fraudulent and unethical behaviour on Wall Street and in the City of London has been under the spotlight in recent years with the recession, HBOS and Lehman Brothers. Now a leading academic from the University of Suffolk’s Business School has drawn together his research of 30 years in a new book entitled ‘Jainism and Ethical Finance’.

Dr Atul K Shah and his colleague Dr Aidan Rankin examine ethical finance from the Jain perspective, an ancient Indian science and faith.

Dr Shah says “The world is reeling with the tsunami of finance - complex, confusing, overpowering and fraudulent. And now we have Trump to add to all this. There is a real shortage of different cultures and perspectives of finance - and nothing known about the Jains. Finance is a core subject in thousands of business schools all over the world. Even The Economist recently noted that the Gujaratis and the Jains are the world’s most successful entrepreneurs. Given the unique philosophy of the Jains, and their wide and sustained success in finance, Aidan Rankin and I have written this new book published by Routledge to help change the study of finance, and show that different cultures of finance exist, are possible and above all, can bring a sustained spirit of contentment and success.”

Publisher Jacqueline Curthoys of Routledge said “We are delighted to be publishing this timely book. As academic publishers, we seek to encourage an increased questioning of business ethics and the principles behind commercial and financial activities. This book readily fits with our tradition of presenting alternatives to the dominant economic ideologies.”

Jainism and Ethical Finance- A Timeless Business Model will be published in April 2017 and already has had critical acclaim.

Lynne Sedgmore CBE, Former CEO of the Centre for Excellence in Leadership and 157 Group said “This work draws deeply upon the powerful wisdom of the Jains and their centuries of financial acumen. Shah and Rankin provide an invaluable resource for business schools, the financial sector, entrepreneurs and anyone interested in exploring new economic paradigms.”

A Former Director of Barclays, Satish Kanabar, said “Mere self-interest and short termism has proven to be a catastrophic failure in finance. This book shows a very different and wise proven alternative - sustainable and ethical.”

Dr Shah is a Senior Lecturer and Course Leader for BA (Hons) Accounting and Financial Management at the University of Suffolk.

Pro-Vice-Chancellor Professor Simon Hallsworth said “In the wake of the financial crisis we urgently need a better financial model than is currently bequeathed to us by our feral overclass of financiers. Atul’s work points us in the direction of a much more humane, viable and sustainable alternative.”

Head of the Suffolk Business School Professor David Collins added “Most, in truth, almost all texts on “finance” treat this genuinely important subject as a branch of mathematics. So you could be forgiven for thinking that a book on finance is really “not your thing”. I am pleased to say that Dr Shah’s account of ethical finance is quite unlike most texts in this area. It is – quite unlike these alternatives - genuinely unique and genuinely interesting. In short it should definitely be “your thing”. Why is this the case? The answer is simple – as all good ideas tend to be. Dr Shah’s account of finance and ethics is, both, unique and interesting because it builds upon an appreciation of the knowledge and experience of the Jain community. The book, therefore, offers a fascinating account of the Jains and builds upon this in-depth appreciation to demonstrate the ways in which this practical philosophy secures a holistic appreciation of the ecology of business and finance.”

Jainism and Ethical Finance- A Timeless Business Model will be available from 20 April 2017.


University of Suffolk Press Office
T: 01473 338476