Rethinking Finance in the Face of New Challenges provides an overview of the new research perspectives devoted to financial activity, reconsidering the opposition between orthodox and heterodox schools of finance. The purpose is to identify new theoretical and practical issues around the concepts of values, radical uncertainty, and financial instability, but also to examine the consequences of the financialisation process on the dynamics of organisations and markets, as well as on value production mechanisms.
This fifteenth volume of Critical Studies on Corporate Responsibility, Governance and Sustainability begins by exploring the globalisation and financialisation of economies, central banks and corporate strategies before switching to focus on financial value as a historically situated social construct. The book then examines the relationship between finance, social value and sustainable development and presents several avenues for reflection with a view to a paradigmatic renewal of research and teaching in finance.
At a time when an unprecedented infectious and sanitary crisis is generating disastrous financial, economic, social and societal repercussions, the work presented in this book will stimulate reflection and contribute to the renewal of a Finance that now has to face many new social, societal and environmental challenges.
Preface. Financial Values as Social Fact; Andre Orléan
Introduction. Rethinking Finance In The Face Of New Social, Societal and
Environmental Challenges; David Bourghelle and Philippe Rozin
Part I. Finance, Financialization In A Global Market Introduction. Finance
and Financialisation In A Global World; Yamina Tadjeddine
Chapter
1. Financial Instability and Temporality Conflicts In Financialized
Capitalism; Renaud du Tertre
Chapter
2. Unconventional Monetary Policies: New Normal Or Black Hole?
2019: The Year Of Truth; Jacques Ninet
Chapter
3. On The Financialization Of Business Strategies; Roland Pérez
Chapter
4. How To Fight Financialization; Paul Jorion
Part II. The Construction Of Financial Values: An Historical Perspective
Introduction: The Construction Of Financial Values: A Historical Perspective;
Catherine Karyotis
Chapter
5. Paving The Way Towards Financialization: The French Case Of State
Venality Of Offices (Century15th-17th; Nicolas Pinsard
Chapter
6. The Institutional Architecture Of Value: Appraisals and The
Formation Of Bubbles In The Financialized Real Estate Sector; Marine Duros
Chapter
7. Accounting As A Political Object; Edouard Jourdain
Part III. Social Reality and The New Financial Structures: Sustainable and
Participatory Finance Introduction. Responsible Finance and Social Impact:
Assessing Alternative Forms Of Social Engagement and Value Creation; Sharam
Alijani
Chapter
8. Social Impacts and Their Contracts; Florence Jany-Catrice and
Marion Studer
Chapter
9. The Crowdfunding: Towards A Commodification Of Generosity?; Amélie
Artis and Virginie Monvoisin
Chapter
10. Sustainable Finance: Concepts, Analyses and Perspectives; Dhafer
Saidane and Sana Ben Abdallah
Part IV. Finance, Markets and Society: Rethinking The Paradigm? Introduction.
Finance, Markets and Society: Rethinking The Paradigm; Roland Pérez
Chapter
11. Economics and Finance: The Monopoly and Dangers Of The Mainstream
School Of Thought; Marc Chesney
Chapter
12. Can Behavioral Finance Be The Foundation For New Regulation?;
Sabrina Chikh and Pascal Grandin
Chapter
13. Collective Affects and Speculative Bubbles In Financial Markets:
A Spinozist Perspective; David Bourghelle and Philippe Rozin
Chapter
14.
Teaching Finance Through A Social Science Lens; Stéphanie Serve and Yamina
Tadjeddine
Conclusion. Finance and Sustainability: An Integrated Thinking; Thomas
Lagoarde-Segot, Roland Pérez, and William Sun
Postscript; Michel Levasseur
David Bourghelle is Associate Professor at the University of Lille (IAE), holding a PhD in finance and an accreditation to direct research (HDR) from the University of Lille.
Roland Pérez has a PhD in Economics (University Paris1) and the French national concourse of University Professor in Economics and Management Science.
Philippe Rozin is an Associate Professor at the University of Lille. He holds a PhD in finance from the University of Paris-Nanterre and a PhD in Philosophy from the University of Paris IV -Sorbonne.