Year 2018, Volume 8 , Issue 1, Pages 51 - 55 2018-12-30

SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES
SOSYAL SORUMLU FİNANS: KAVRAMLAR VE YAKLAŞIMLAR ÜZERİNE GÜNCEL BİR LİTERATÜR TARAMASI

Narman Kuzucu [1]


Purpose - Socially responsible finance has emerged as a growing area of interest. In this study, the objective is to distinguish the concepts such as responsible investing, impact investments, environmental, social and governance criteria investments and to discuss the recent approaches.

Methodology – We surveyed the current literature by reviewing published academic studies and reports.

Findings- Social finance is still growing and developing. Various international organizations and networks have proceeded pioneering works. While the conceptual framework has been growing recently, social impact investments have been the area in which the most important developments occurred.

Conclusion- In the wake of the Global Financial Crisis, finance, which aims to maximize return and individual wealth, is criticized severely. A perception, that prioritizes social impact, sustainability and corporate governance rather than individual benefit, has been advancing theoretically and practically. In this context, it is required to design new approaches and new financial instruments, which address various social needs. Furthermore, new regulations should be adopted.

Amaç- Sosyal sorumlu finans, gittikçe büyüyen bir ilginin olduğu alan olarak karşımıza çıkmaktadır. Bu çalışmada, teoride ve pratik alanda gelişmekte olan sosyal finans alanında öne çıkan sorumlu yatırım, etki yatırımları, çevresel, sosyal ve yönetişimsel kriterlere uygun yatırımlar gibi konuların ayrımını yapmak, kavram ve yaklaşımları araştırmak amaçlanmıştır.

Yöntem- Güncel bir literatür taraması yapılarak, ilgili alanda yayınlanmış akademik çalışmalar ve raporlar incelenmiştir.

Bulgular- Sosyal finans, halen gelişimini sürdüren ve büyümekte olan bir sahadır. Çeşitli uluslararası örgütlerin küresel ve bölgesel düzeyde öncül çalışmalar yaptığı belirlenmiştir. Yakın zamanda kavramsal çerçeve gelişirken, sosyal finansta en önemli gelişmenin olduğu alan, sosyal etki yatırımları olmuştur.

Sonuç- Özellikle küresel finansal krizden sonra, getiri maksimizasyonu ve bireylerin servetinin artırılmasını hedefleyen finans, pek çok eleştiriye uğramıştır. Bireysel getiriden ziyade, toplumsal etki, sürdürülebilirlik ve kurumsal yönetişimi önceleyen bir finansal anlayışın hem teorik alanda hem de uygulamada gelişmekte olduğu görülmektedir. Bu bağlamda, farklı sosyal ihtiyaçlara hitap eden yeni yaklaşımların ve yeni ürünlerin tasarlanmasına, düzenlemelerin geliştirilmesine ihtiyaç vardır.

  • Addis, R. (2015). The roles of government policy in social finance. (Ed. A. Nicholls, R. Paton & J. Emerson) Social Finance içinde, 383-459. Oxford: Oxford University Press.
  • Baker, H. K. & Nofsinger, J. R. (2012). Socially Responsible Finance and Investing. New Jersey: Wiley.
  • B Lab. (2018). GIIRS. (Erişim tarihi: 18.10.2018) http://b-analytics.net/giirs-funds.
  • B Lab. (2018). About B-Corps. (Erişim tarihi: 15.10.2018) https://www.bcorporation.net/what-are-b-corps.
  • Bollen, N. P. B. (2007). Mutual fund attributes and investor behavior. Journal of Financial and Quantitative Analysis 42(3): 683−708.
  • Chiappini, H. (2017). Social Impact Funds: Definition, Assessment and Performance. Palgrave Studies in Impact Finance, Springer.
  • Commonfund Institute, (2013). From SRI to ESG: The changing world of responsible investing. (Erişim tarihi: 10.09.2018) http://info.commonfund.org/from-sri-to-esg-the-changing-world-of-responsible-investing.
  • Commonfund Institute, (2018). The challenges of terminology. (Erişim tarihi: 10.09.2018) https://www.commonfund.org/news-research/blog/what-are-the-differences-between-sri-and-esg/.
  • Drexler, M. & Noble, A. (2013). From the margin to the mainstream: Assessment of the impact investment sector and opportunities to engage mainstream investors. Cologny: World Economic Forum. http://www3.weforum.org/docs/WEF_II_FromMarginsMainstream_Report_2013.pdf.
  • Eurosif. (2016). European SRI study 2016. (Erişim tarihi: 10.09.2018) http://www.eurosif.org/wp-content/uploads/2016/11/SRI-study-2016-HR.pdf.
  • Fullweiler, S. (2016). Sustainable finance. (Ed. O. M. Lehner) Routledge Handbook of Social and Sustainable Finance içinde, 17-34. New York: Routledge.
  • GIIN. (2018). What you need to know about impact investing. (Erişim tarihi: 10.09.2018) https://thegiin.org/impact-investing/need-to-know/.
  • GRI. (2018). The GRI standard. (Erişim tarihi: 18.10.2018) https://www.globalreporting.org/information/sustainability-reporting/Pages/gri-standards.aspx.
  • Harji, K. & Jackson, E.T. (2012). Accelerating impact: Achievements, challenges and what’s next in building the impact investing industry. New York: The Rockefeller Foundation. (Erişim tarihi: 21.09.2018) https://assets.rockefellerfoundation.org/app/uploads/20120707215852/Accelerating-Impact-Full-Summary.pdf.
  • Höchstädter, A.K. & Scheck, B. (2015). What’s in a name: An analysis of impact investing understanding by academics and practitioners. Journal of Business Ethics 132(2): 449–475.
  • IRIS, (2015). Getting started with the IRIS. (Erişim tarihi: 18.10.2018) https://iris.thegiin.org/guide/getting-started-guide/summary.
  • O’Donohoe, N., Leijonjufvud, C., Saltuk, Y., Bugg-Levine, A. & Brandenburg, M. (2010). Impact investment: An emerging asset class. New York: J.P. Morgan. (Erişim tarihi: 14.09.2018) http://www.compromisoytransparencia.org/upload/07/45/1._Impact_Investments.pdf
  • SIIT. (2014a). Allocating for impact. (Erişim tarihi: 14.09.2018) http://gsgii.org/wp-content/uploads/2017/07/Asset-Allocation-WG-paper-16.2.16-FINAL.pdf.
  • SIIT. (2014b). Impact investment: The invisible heart of markets. (Erişim tarihi: 14.09.2018) http://gsgii.org/wp-content/uploads/2017/05/Impact-Investment-Report.pdf.
  • SIIT. (2014c). Measuring impact. (Erişim tarihi: 18.10.2018) https://iris.thegiin.org/research/measuring-impact-subject-paper-of-the-impact-measurement-working-group.pdf.
  • Social Value UK. (2016). GIIRS and SROI: What is the relationship? (Erişim tarihi: 18/10/2018) http://www.socialvalueuk.org/app/uploads/2016/03/GIIRS%20and%20SROI%20(2).pdf.
  • SROI Network. (2012). A Guide to social return on investment. (Erişim tarihi 18.09.2018) http://www.socialvalueuk.org/app/uploads/2016/03/The%20Guide%20to%20Social%20Return%20on%20Investment%202015.pdf.
  • UN PRI. (2016). Principles for Responsible Investment brochure. (Erişim tarihi 10.09.2018) https://www.unpri.org/download?ac=1534.
  • US SIF. (2016). The impact of sustainable and responsible investment. (Erişim tarihi 10.09. 2018) https://www.ussif.org/files/Publications/USSIF_ImpactofSRI_FINAL.pdf.
  • US SIF. (2017). 2017 Annual report: US SIF and US SIF Foundation. (Erişim tarihi 10.09. 2018) https://www.ussif.org/files/Publications/2017USSIFAnnualReport_online.pdf.
  • Weber, O. & Duan, Y., (2012). Social Finance and Banking. Baker & Nofsinger. (Ed.) Socially Responsible Finance and Investing içinde, 161-180. New Jersey: Wiley.
Primary Language en
Subjects Humanities, Multidisciplinary
Journal Section Articles
Authors

Orcid: 0000-0003-2265-6492
Author: Narman Kuzucu (Primary Author)

Dates

Publication Date : December 30, 2018

Bibtex @research article { pap506100, journal = {PressAcademia Procedia}, issn = {}, eissn = {2459-0762}, address = {Siteler Sok. No.12/18 Maltepe, 34843, Istanbul}, publisher = {PressAcademia}, year = {2018}, volume = {8}, pages = {51 - 55}, doi = {10.17261/Pressacademia.2018.980}, title = {SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES}, key = {cite}, author = {Kuzucu, Narman} }
APA Kuzucu, N . (2018). SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES. PressAcademia Procedia , 8 (1) , 51-55 . DOI: 10.17261/Pressacademia.2018.980
MLA Kuzucu, N . "SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES". PressAcademia Procedia 8 (2018 ): 51-55 <https://dergipark.org.tr/en/pub/pap/issue/42051/506100>
Chicago Kuzucu, N . "SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES". PressAcademia Procedia 8 (2018 ): 51-55
RIS TY - JOUR T1 - SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES AU - Narman Kuzucu Y1 - 2018 PY - 2018 N1 - doi: 10.17261/Pressacademia.2018.980 DO - 10.17261/Pressacademia.2018.980 T2 - PressAcademia Procedia JF - Journal JO - JOR SP - 51 EP - 55 VL - 8 IS - 1 SN - -2459-0762 M3 - doi: 10.17261/Pressacademia.2018.980 UR - https://doi.org/10.17261/Pressacademia.2018.980 Y2 - 2019 ER -
EndNote %0 PressAcademia Procedia SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES %A Narman Kuzucu %T SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES %D 2018 %J PressAcademia Procedia %P -2459-0762 %V 8 %N 1 %R doi: 10.17261/Pressacademia.2018.980 %U 10.17261/Pressacademia.2018.980
ISNAD Kuzucu, Narman . "SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES". PressAcademia Procedia 8 / 1 (December 2019): 51-55 . https://doi.org/10.17261/Pressacademia.2018.980
AMA Kuzucu N . SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES. PAP. 2018; 8(1): 51-55.
Vancouver Kuzucu N . SOCIALLY RESPONSIBLE FINANCE: A CURRENT LITERATURE SURVEY ON THE CONCEPTS AND THE APPROACHES. PressAcademia Procedia. 2018; 8(1): 55-51.