The financial sector has a pivotal role in forming the future for our society. By allocating resources to sectors and businesses in society it injects capital into new industries, create jobs and increase economic growth. However the financial industry has also been associated with irrational greed, short-termism and financial bubbles and been questioned on its merits of bringing a sustainable development which preserves the environment and protects social values. This research program targets the drivers and impediments for incorporating ESG-issues into the investment process and the relation between investment beliefs and risk taking on the stock-market. It also investigates the rationality of investors’ (both large institutional and retail investors) and the function of the capital market in a broader sense. The program focuses on the behavioral aspects of finance in topics such as for example drivers of socially responsible investments, asset pricing, return forecasting and venture capital participation in IPOs.
The program will function as a platform for exchange of research ideas and forum for keeping us up-dated on new research and methods. The aim of the program will be to facilitate the group members own individual research but more importantly find common ground for collaborative work and research projects. The goal is that the program will at least produce four research applications each year. The program will also actively explore possibilities to establish international scientific collaborations and seek cooperation with the financial industry. The program has the ambition to host one work-shop every year where international researchers and practitioners will be invited.
The program will meet biweekly. The agenda for the meeting will be decided on the preceding meeting. A specific work plan will be set at the first meeting. The major focus for the first month will be to apply for research funding from Formas and Handelsbankens forskningsstiftelser. In the coming months we will present our own research, discuss research ideas, and plan seminars.