Explaining the Take-Off of Socially Responsible Investment

Pasquale Arena

Chapter 3 in Finance for a Better World, 2009, pp 30-50 from Palgrave Macmillan

Abstract: Abstract The interest with which academics, politicians, companies and the wider community are observing ethics and socially responsible investment demonstrates how relevant this issue has become. We are living through a complex cultural process which is trying to overcome the dualism of ethics and finance. Hence, academic literature has been paying more and more attention to the exploration of the relationship between finance, ethics and society, especially over the last few years. At the same time, companies and practitioners are testing new corporate social strategies. Nowadays, the role of the government is changing; both government and community need more help from companies. While companies are committed to developing socially responsible investment, ethics emerges as the most powerful instrument of moral legitimacy for companies, able to stimulate stakeholders’ participation and help both companies and stakeholders to move towards the common good.

Keywords: Corporate Social Responsibility; Business Ethic; Social Contract; Common Good; Socially Responsible Investment (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-23575-5_3

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DOI: 10.1057/9780230235755_3

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