Social Stock Exchanges: Defining the Research Agenda

Karen Wendt ()
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Karen Wendt: Modul University Vienna

Chapter Chapter 5 in Contemporary Issues in Sustainable Finance, 2020, pp 79-129 from Palgrave Macmillan

Abstract: Abstract Since the 2007/2008 financial crisis, questions have been raised about how financial markets operate and can benefit society (Shiller, Finance and the Good Society. Princeton: Princeton University Press 2013; Zingales, Does Finance Benefit Society? Cambridge, MA: National Bureau of Economic Research, 2015). Around the globe, new investment models able to reflect responsible behavior have been claimed in order to keep financial markets in tune with the development of society. Given upsurge in social entrepreneurship and impact-driven business models, and recently the EU action plan for financing sustainable growth, there is no shortage of investors and financiers eager to absorb this demand. The problem, as emphasized by the World Economic Forum, lies in matching assets that create positive impact with investors in a manner that is efficient, effective, transparent, and scalable (WEF, Bringing Impact Investing From the Margins to the Mainstream. Available at https://thegiin.org/knowledge/publication/bringing-impact-investing-from-the-margins-to-the-mainstream , 2013). This chapter investigates the research agenda to make impact investing part of stock exchanges.

Date: 2020
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DOI: 10.1007/978-3-030-40248-8_5

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