English Cathedrals: Events and Spiritual Capital

This paper investigates the recent trend for cathedrals in England to develop a wider and more ambitious scope to their event and activity programmes. It sets out to explore the types of events now hosted at cathedrals, to consider barriers to such ambitions and the opportunities presented by event programming to develop new audiences and grow attendances. The research focuses on the 42 Anglican cathedrals of England and has involved a review of recent reports published by church and cathedral organisations, supported by an in-depth review of event activity and objectives at five selected cathedrals in southern England. Despite declining general church attendance in England, cathedrals have enjoyed two decades of attendance growth both as places of worship and as tourist attractions, partly a reflection of a more complex contemporary search for multi-faceted types of spirituality. The paper explores how events can tap into the realm of individual spiritual capital and demonstrates the rich diversity of events now being hosted by cathedrals. The paper offers a new categorisation of ecclesiastical/liturgical events, cultural and community events and openly commercial event activity. Barriers remain but key facilitating factors have been new investment in event expertise and professionalism, encouragement to experiment by key funding bodies such as the Heritage Lottery Fund and the embracing of new forms of spirituality. The diversity of cathedral events reflects a new found growth in the nurturing of “spiritual capital” amongst both worshippers and tourists.

The recent development and performance of ethical investments

In this chapter, we assess the recent development and performance of ethical investments around the world. Ethical investments include both socially responsible investments (following Environmental, Social and Governance criteria) and faith-based investments (following religious principles). After presenting the development of each type of funds in a historical context, we analyse their ethical screening process, highlighting similarities and differences across funds and regions. This leads us to investigate their characteristics in terms of return and risk, and finally evaluate their historical performance using various risk-adjusted performance measures on a small sample of US funds. Hence we are able to not only compare the performance of each fund with each other and with traditional investments, but also assess their relative resilience to the 2007-08 financial crisis.