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.
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 review). Intergenerational leadership: Coordinating common goods and economic stability.
Puaschunder, J. M. (forthcoming). Bowling all alone: Governmental debt is associated with low social capital. Management of Environmental Quality.
Puaschunder, J. M. (2017). Socio-psychological motives of socially responsible investors. Global Corporate Governance: Advances in Financial Economics, 19, 209-247.
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.
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). ‘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). ‘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.
Appointed Contributing Reviewer, International Journal of Sustainable Entrepreneurship and Corporate Social Responsibility (IJSECSR)
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.
‘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.
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