Financial Social Responsibility and Socially Responsible Investment (SRI) as emergent risk prevention in the aftermath of the 2008/2009 World Financial Crisis
Globalization and socio-economic changes heralded attention to Financial Social Responsibility. Ever since socio-economic crises have steered social conscientiousness yet in the aftermath of the 2008/09 World Financial downturn, the interest in understanding social responsibility in the interplay of financial markets and the real economy has reached unprecedented momentum.
Financial Social Responsibility bridges the finance world and society through Socially Responsible Investing (SRI), in which securities are foremost selected for social, environmental, ethical and institutional aspects. Financial investment calculus is aligned with ethical, moral and social causes through socially responsible screenings, shareholder advocacy, community investing, and social venture capital. SRI perpetuated in the eye of the 2008/09 World Financial Crisis, given the world-wide attention to social conscientiousness and regulatory financial market reforms.
The proposed project targets at innovatively scrutinizing SRI as an en vogue topic of interest and panacea to avoid emergent risks – risks that emerge in complex interactive systems by collective outcomes of individual decision making fallibility over time. When people decide, limitations in their capacity to foresee long-term impacts and the collective outcomes of their choices can contribute to institutional downfalls. Emergent risks can have crucial impacts in the finance domain as the 2008/09 World Financial Crisis outlined.
A qualitative analysis of Financial Social Responsibility should retrieve SRI as a means to lower emergent risks within institutionalized market systems in order to avert future socio-economic downfalls. Expert interviews with Financial Social Responsibility stakeholders are aimed at determining SRI success factors for central banks as well as governance executives.
Mapping globalization market tools and financial market databases will be used concurrently to capture qualitative and quantitative SRI changes in the aftermath of the 2008/09 World Financial Crisis in order to delineate the potential of SRI to avert emergent risks in the aftermath of the 2008/09 financial market downturn.
The proposed research may test SRI as a real-world relevant means to minimize emergent risks within a globalized economy. The pursued nested approach featuring qualitative and quantitative global measurements will gain information about the interaction of financial markets with the real-world economy for policy makers.
Overall the project plays an important role in the evaluation of the stability of economic markets. Depicting SRI during this unprecedented time of economic change and regulatory reform holds invaluable historic opportunities for central bankers and policy makers to snapshot a crisis response potential to ingrain social responsibility and bestow market actors with trust in the global market economy. The results will guide a successful SRI implementation to lower systemic economic market downfalls with attention to the changes implied in the wake of the 2008/09 World Financial Crisis. Market and policy recommendations for central bank executives, SRI managers and financial market regulators on how to strengthen SRI and overcome unknown emergent risks within globalized finance markets and bestow market actors with trust in the global economy are endeavored alongside scientific publications and stakeholder engagement.
US: T 001 212 229 5700 4905, M 001 917 929 7038, F 001 212 229 5724, Julia.Puaschunder@newschool.edu
EU: M 0043-69917250979
Financial support of the Association for Social Economics, Austrian Academy of Sciences, Austrian Federal Ministry of Science, Research and Economy, Federal Ministry of Education and Research of the Federal Republic of Germany (Bundesministerium für Bildung und Forschung der Bundesrepublik Deutschland), Fritz Thyssen Foundation, Janeway Center Fellowship, International Institute for Applied Systems Analysis, New School for Social Research New York (Endowment Stipend, President’s Scholarship), Prize Fellowship of the Inter-University Consortium of New York, University of Vienna and Vienna University of Economics and Business is gratefully acknowledged.
Output:
Publications:
Books
Puaschunder, J. M. (under contract). On Corporate and Financial Social Responsibility. Cambridge, UK: Cambridge Scholars Publishing.
Puaschunder, J.M. (forthcoming). Corporate Social Responsibility and Opportunities for Sustainable Financial Success. Hershey, Pennsylvania: IGI Publishing
Puaschunder, J. M. (under contract). On the emergence, current state and future perspectives of Socially Responsible Investment (SRI). Business Ethics: A European Review.
Puaschunder, J. M. (under contract). Socially Responsible Investment. In: Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer.
Puaschunder, J. M. (forthcoming). Bowling all alone: Governmental debt is associated with low social capital. Management of Environmental Quality.
Puaschunder, J.M. (forthcoming). What is the right dose of capitalism regarding fertility? Recommendations how to use capitalism for population control and how to avert the falling rate of fertility. Journal of Applied Business and Economics.
Beerbaum, D. & Puaschunder, J.M. (2019). A behavioral economics approach to digitalization: The case of a principles-based taxonomy. In J.M. Puaschunder (Ed.), Intergenerational Governance and Leadership in the Corporate World, pp. 107-122, Hershey, PA: Idea Group.
Puaschunder, J.M. (2019). Lessons from Divesting South Africa during Apartheid for a Green Economy. Progress in Economics Research. Hauppauge, NY: Nova.
Puaschunder, J. M. (2018). ‘Socio-psychological motives of Socially Responsible Investments (SRI).’ In S. Boubaker, D. Cumming & D.K. Nguyen (Eds.), Research Handbook of Investing in the Triple Bottom Line: Finance, Society and the Environment.
Puaschunder, J. M. (2018). Nachhaltigkeit und Investment: Psychologische Aspekte von nachhaltigkeitsorientiertem Investitionsverhalten. In: C.T. Schmitt & E. Bamberg (Eds.), Psychologie und Nachhaltigkeit: Konzeptionelle Grundlagen, Anwendungsbeispiele und Zukunftsperspektiven, pp. 127-134, Springer.
Puaschunder, J.M. (2017). The Austrian way: Sozialpartnerschaft as means to curb the falling rate of profit. Oxford Journal of Finance and Risk Perspectives, 6, 3, 11-27.
Puaschunder, J. M. (2017). Krisenrobuste Alternativen. Global Investor, 3, 5, 69.
Puaschunder, J. M. (2017). Socio-psychological motives of socially responsible investors. Global Corporate Governance: Advances in Financial Economics, 19, 209-247.
Puaschunder, J. M. (2017). Global Alliance for Information and Communication Technologies and Development (GAID) as an International Platform for Cross-Sectoral Solution Finding and Policy Dialogue on Information and Communication Technologies for Development. In M. Gudic, T. K. Tan and P. M. Flynn, Beyond the Bottom Line: Integrating the UN Global Compact into Management Practices, pp. 32-46. New York, NY: Greenleaf Publishing.
Puaschunder, J. M. (2016). On eternal equity in the fin-de-millénaire. Journal of Leadership, Accountability and Ethics, 13, 2, 1-24.
Puaschunder, J. M. (2016). On the emergence, current state and future perspectives of Socially Responsible Investment (SRI). Consilience: The Journal of Sustainable Development, 16, New York: Columbia University Press.
Authorized reprint: In: Ethics, ESG and Sustainable Prosperity. World Science Press.
Puaschunder, J. M. (2016). Intergenerational equity in the eye of overindebtedness. Canon: An Interdisciplinary Journal of The New School for Social Research.
Puaschunder, J. M. (2016). Intergenerational equity in the eye of overindebtedness. Canon: An Interdisciplinary Journal of The New School for Social Research: The Debt Issue, Fall 2016, 2-5.
Puaschunder, J. M. (2016). Socially Responsible Investment as emergent risk prevention and means to imbue trust in the post-2008/2009 world financial crisis economy. In: O. Lehner (Ed.), Routledge Handbook of Social and Sustainable Finance, pp. 222-238, London: Taylor & Francis.
(2015). Proceedings of the 2015 6th International Conference of the Association of Global Management Studies at Alfred Lerner Hall of Columbia University, New York: The Association of Global Management Studies.
Coverage: United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) (2015). Overview of Green Business: Enabling Policies and Private Sector Examples: Policies and Best Practices for a Green Economy in the Context of Poverty Eradication and Sustainable Development. Greening of Economic Growth Series.
Puaschunder, J.M. (2019). ‘Value at looking back: Towards an empirical validation of the role of reflexivity in econo-historic backtesting: Economic market prediction corrections correlate with future market performance,’ 17th Finance, Risk and Accounting Perspectives Conference, Hanken School of Economics, Helsinki, Finland, European Union, September 23-35.
Puaschunder, J.M. (2019). ‘When investors care about causes: Learning from political divestiture during Apartheid and the Sudan crises for the transition to renewable energy via green bonds,’ 26th Annual Conference of the Multinational Finance Society, Jerusalem School of Business Administration, Jerusalem, Israel, June 30 – July 3, 2019.
Puaschunder, J.M. (2019). ‘Value at looking back: Towards an Empirical validation of the role of reflexivity in econo-historic backtesting: Economic market prediction corrections correlate with future market performance,’ Finance and Society panel, Conference of the Society for the Advancement of Socio-Economics (SASE),The New School, New York City, United States,27-29 June.
Beerbaum, D. & Puaschunder, J.M. (2019). A behavioral economics approach to sustainable finance architecture, Behavioural Finance Working Group (BFWG) conference, Queen Mary University of London, London, United Kingdom, June 6-7.
Invited participant, Workshop on ‘Science, Technology and Economic Policy,’ National Academy of Sciences, Engineering, Medicine, invited by the Harvard Laboratory for Innovation Sciences at The Keck Center for the National Academies, Washington DC, USA, May 29, 2019.
Puaschunder, J.M. (2019). ‘Value at looking back: Towards an empirical validation of the role of reflexivity in econo-historic backtesting: Economic market prediction corrections correlate with future market performance,’ 45th Annual Eastern Economic Association Conference, New York Sheraton, New York, New York, United States, February 28-March 3.
Puaschunder, J.M. (2019). ‘Socio-Econo-Engineering: What Is the right dose of capitalism regarding fertility? Recommendations how to use capitalism for population control and how to avert the falling rate of fertility in capitalist territories,’ 45th Annual Eastern Economic Association Conference, New York Sheraton, New York, New York, United States, March 1.
Puaschunder, J.M. (2019). Future Climate Wealth of Nations. Columbia University, Department of Economics, International Affairs Building, New York, New York, USA, February 20.
Puaschunder, J.M. (2019). Future Climate Wealth of Nations. Harvard University, Department of Chemistry, 12 Oxford Street, Cabot Division Room, Cambridge, MA, USA, February 11.
Puaschunder, J. M. (2018). ‘Climate in the 21st century: A macroeconomic model of fair global warming benefits distribution to grant climate justice around the world and over time.’ World Finance Conference, Mauritius, Africa, July 25-27.
Puaschunder, J.M. (2018). ‘Nudgitize me! A behavioral finance approach to minimize losses and maximize profits from heuristics and biases,’ 5th International CSR Conference, Casablanca, Morocco, Africa, June 27-29
Puaschunder, J.M. (2018). ‘The history of ethical, environmental, social and governance-oriented investments as a key to sustainable prosperity in the finance world.’ 2018 International Council for Small Business World Congress, Reshaping the world through innovative SMEs, Taipei, Taiwan, Asia, June 26-29.
Puaschunder, J.M. (2018). ‘Nudgitize me! A behavioral finance approach to minimize losses and maximize profits from heuristics and biases.’ 2018 International Council for Small Business World Congress, Reshaping the world through innovative SMEs, Taipei, Taiwan, Asia, June 26-29.
Puaschunder, J.M. (2018). ‘Climate policies with burden sharing: The economics of global warming,’ International Symposium in Finance, Crete, Greece, European Union, June 27-29.
Puaschunder, J. M. (2018). Climate Policies with Burden Sharing: The Economics of Climate Financing, Hawai’i Accounting Research Conference, Shidler College of Business, University of Hawai’i at Manoa, Honolulu, Hawai’i, USA, January 5.
Puaschunder, J. M. (2017). Nudgitize me! A behavioral finance approach to minimize losses and maximize profits from heuristics and biases. Academy of Behavioral Finance & Economics, 2017 Annual Meeting,University of California Los Angeles, Los Angeles, California, USA, October 18-20, 2017.
Puaschunder, J. M. (2016). ‘On the emergence, current state and future perspectives of Socially Responsible Investment (SRI).‘ World Finance & Banking Symposium, Dubai Chamber of Commerce Building, University of Dubay, Dubai, Dubayy, United Arab Emirates, December 14-15.
Puaschunder, J. M. (2016). ‘Bowling all alone: Governmental debt is associated with low social capital.’ World Finance & Banking Symposium, Dubai Chamber of Commerce Building, University of Dubay, Dubai, Dubayy, United Arab Emirates, December 14-15.
Puaschunder, J. M. (2016).’Bowling all alone: Governmental debt is associated with low social capital,’ 25th European Financial Management Association (EFMA) Conference, University of Basel, Center for Economic Science, Department of Finance, Basel, Switzerland, June 29-July 2.
Puaschunder, J. M. (2016). ‘On the emergence, current state and future perspectives of Socially Responsible Investment (SRI).’23rd Annual Conference of the Multinational Finance Society, Stockholm University Business School, Stockholm, Sweden, European Union, June 26-29.
Puaschunder, J. M. (2016). ‘Intergenerational responsibility,’ From Public Interest to Private Profit: The Changing Political and Social Legitimacy of International Business, Rotman School of Management, University of Toronto, May 6.
Puaschunder, J. M. (2016). ‘On the emergence, current state and future perspectives of Socially Responsible Investment (SRI).’ 23rd Annual Global Finance Conference, California State University, Fresno, CA, USA, April 22.
Puaschunder, J. M. (2016). ‘Bowling all alone: Governmental debt is associated with low social capital.’ 23rd Annual Global Finance Conference, California State University, Fresno, CA, USA, April 22.
Puaschunder, J. M. (2016). ‘Socio-psychological motives of socially responsible investors.’ 23rd Annual Global Finance Conference, California State University, Fresno, CA, USA, April 21.
Puaschunder, J. M. (2016). ‘Trust and reciprocity drive common goods allocation norms,’ Academy of Entrepreneurial Finance, International Meeting of the Academy of Behavioral Finance & Economics, Venice, Italy, European Union, March 14-16.
Puaschunder, J. M. (2015). ‘Bowling all alone: Governmental debt is associated with low social capital,’ Cultures of Finance, The New School for Social Research, The New School, December 15.
Puaschunder, J. M. (2015). ‘On Eternal Equity in the fin-de-millénaire: Bowling all alone: Governmental debt is associated with low social capital,’ The Eurozone and the Americas: Debt and Democracy, Institute for New Economic Thinking Conference and Young Scholars Initiative Workshop, The Lyndon B. Johnson School of Public Affairs, Sid Richardson Hall, Austin, Texas, USA, November 4.
Puaschunder, J. M. (2015). ‘Socially Responsible Investment (SRI) as emergent risk prevention and means to imbue trust in the Post-2007/8 World Financial Crisis economy.’ 15th World Congress of Social Economics. The Association for Social Economics. Brock University, St. Catharines, Canada, June 21-22.
Puaschunder, J. M. (2015). ‘Socially Responsible Investment (SRI) as emergent risk prevention and means to imbue trust in the Post-2007/8 World Financial Crisis economy.’ 6th International Conference of the Association of Global Management Studies. Alfred Lerner Hall, Columbia University, New York, NY, June 10-11.
Puaschunder, J. M. (2015). ‘On the social representations of intergenerational equity:Socially Responsible Investment (SRI) as emergent risk prevention and means to imbue trust in the post 2008/09 world financial crisis economy.’ Oxford Social and Sustainability Finance and Impact Investing Conference, Thatcher Business Education Centre, SAID Business School, University of Oxford, Oxford, UK, EU, April 23.
Puaschunder, J. M. (2014). ‘When investors care about politics: A meta-synthesis of political divestiture studies on the capital flight from South Africa during Apartheid,’ 6th International Conference on Corporate Sustainability and Responsibility, Humboldt University, Berlin, Germany, EU, October 8-9.
Community Service:
Advisor for Business Insider on Environmental, Social and Governance (ESG) options in Saudi Arabia
Scientific Committee, Finance, Risk and Accounting Perspectives Conference: Sustainability and Risk: Environmental, Social and Governance Perspectives, University of Cambridge, Cambridge, United Kingdom, September 25-27.
‘The economic outlook and implications of Brexit / US-Elections,’ Peter Brezinschek Chief Economist of Raiffeisen Research, Offices of Savills Studley, Park Avenue, New York, New York, USA, December 1, 2016.
‘The Decarbonization of Finance.‘ Ecologic Institute in cooperation with The Consulate General of Germany, United Nations Plaza, Auditorium, New York, NY, USA, October 21, 2015.
‘Contours of Critical Finance Studies.’ Institute for Public Knowledge, New York University, October 2, 2015.
Joseph Stiglitz on ‘The State of the European Union,’ The European Society at Columbia University, International Affairs Building, Columbia University, October 2, 2015.
‘Mapping out a Research Agenda for Sustainable Finance.’ Workshop of the Academic Research Network Oxford Centre, Dorfman Center at St. Peter’s College, University of Oxford, Oxford, UK, April, 25, 2015.
Media coverage:
‘Puaschunder on ‘Capital in the 21st Century’ by Piketty.’ Legal Theory Blog. Subsequently covered on: Archivio Internazionale Associazione Italiana di Diritto Comparato (AIDC): New Approaches to Comparative Law: Comparative Law Review. Better than today. Blog do jals. Blog Jurídico de Francisco Bermúdez Guerra. Bien de verdad: Reflexiones ético-políticas desde una filosofía dialéctico-analogista. Catálogo de blawgs. Comparative Law Blog: Comparative Law and Judicial Decision Making. De Cive. Elektratig. E-mancipação. EU Law: Blog Jean Monnet katedre za Europsko javno pravo i prijatelja. Evan Tucker blog. Filósofo Grego: Filosofia Contemporânea, especialmente Filosofia do Direito, Filosofia Moral e Filosofia Política. Hukuk felsefesi: IVR-TURKEY Hukuk Felsefesi ve Sosyal Felsefe topluluğu tarafından oluşturulan blogtur. Ius Global. Juridiques Universitaires Francophones. Juris Diversitas. Juristhoughts. Just legal news. Justia Blawg. Ladja Norcev blog. Law and other things. Law, Politics, and Humanities. Legal Futurology. Legal History Blog. Llibreries especialitzades en dret: Bloc de dret. Me cago en los argumentos: Razones y personas. MTEF is the Bayesian Heresy: Public Financial Management, Healthcare reform, Medium-Term Expenditure Frameworks, Economic Policy and All Things Fiscal. Nordic Law Blog. Nostrum Remedium on law, narrative, art and memory. Notes from Law School by Kristopher Nelson. Philosophy, lit. Sam’s Place. Observatório Cosmopolita: Blog dedicado ao estudo do Cosmopolitismo e sua presença na Filosofia Política, Direito e Relações Internacionais.. Scripta manent: Sobre história, direito e literatura, dentre outros assuntos demasiado humanos. Speculum Criticum Traditionis: Open Letters on Philosophical Praxis. Tread the middle path: A blog to stimulate academic discussion on international trade law and policy issues. Tributum. Political Theory: Habermas and Rawls. Practical Academic. Rich Sexton for Congress. The Brooks Blog. The Consternation of Philosophy. The Federalist Society for Law and Public Policy Studies. Time pass scribble-bin. What’s neat: P.G.Monateri’s Point of View in Law & Beyond. We call upon the author to explain: A blog by Christian Perring focusing on Philosophy, Psychiatry and Psychology.
