On Values in Finance and Ethics Forgotten Trails and Promising Pathw
This book uses the building blocks of modern capital market theory, including behavioural finance, as the point of departure for an analysis of hidden ethical content in the contemporary research into capital markets. It illustrates the significant
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Henry Schäfer
On Values in Finance and Ethics Forgotten Trails and Promising Pathways 123
SpringerBriefs in Finance
More information about this series at http://www.springer.com/series/10282
Henry Schäfer
On Values in Finance and Ethics Forgotten Trails and Promising Pathways
Henry Schäfer Institute of Business Administration University of Stuttgart Stuttgart, Germany
ISSN 2193-1720 ISSN 2193-1739 (electronic) SpringerBriefs in Finance ISBN 978-3-030-04683-5 ISBN 978-3-030-04684-2 (eBook) https://doi.org/10.1007/978-3-030-04684-2 Library of Congress Control Number: 2018965162 © The Author(s), under exclusive licence to Springer Nature Switzerland AG 2019 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Preface
Sustainable investments, socially responsible investments, impact investings, green finance, blended finance, and many other buzzwords that are resounding throughout the world suggest that financial matters have undergone a welcome reform into a brave new world. But has the financial sector really recalled old virtues and rediscovered forgotten trails of ethics and morality? Do global challenges like climate change and other violations of a sustainable global development offer promising pathways for an ethical renaissance within the financial sector? The book at hand is intended to shed more light on such issues. It opens with the building blocks of modern capital market theory as the starting point for the analysis of a hidden ethical content, or even the foundations of current capital market and finance theory. Later the long-standing struggle between ethics and economics is demonstrated, which illustrates how the alienation between the financial and the real side of economies and eco
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