On Values in Finance and Ethics

1. Front Matter

   Pages i-xiv

   PDF

2. Introduction

   • Henry Schäfer

   Pages 1-4

3. A “Selfie” of Finance and Ethics

   • Henry Schäfer

   Pages 5-26

4. On Values: The (Hidden) Ethical Framework in Capital Market Theory (An Outline of Ethics in Economics and Finance)

   • Henry Schäfer

   Pages 27-42

5. Key Points of Sustainability and CSR: Stakeholder Theory and the Theory of External Effects

   • Henry Schäfer

   Pages 43-59

6. Understanding How Stakeholders Are Affecting Sustainability and Finance

   • Henry Schäfer

   Pages 61-70

7. Concluding Remarks

   • Henry Schäfer

   Pages 71-83

8. Perspectives

   • Henry Schäfer

   Pages 85-86

9. Correction to: Introduction

   • Henry Schäfer

   Pages C1-C1

10. Back Matter

    Pages 87-96

    PDF

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 degree of alienation between the financial and the real side of economies, stemming from the long-standing struggle between ethics and economics. Furthermore, it provides a roadmap of modern value thinking, highlighting the crucial role of stakeholders and non-governmental organizations.

• Sustainable Finance
• Socially Responsible Investment
• Capital Market Theory
• Corporate Social Responsibility
• Sustainable Development
• History of Finance
• Market Efficiency Hypothesis
• Rational Expectation Hypothesis
• History of Economic Thought
• sustainability

• Institute of Business Administration, University of Stuttgart, Stuttgart, Germany

  Henry Schäfer

Henry Schäfer is the chair of corporate finance at the University of Stuttgart. He has held the chair of business administration at the University of Siegen. Prior to his academic activities, Henry Schäfer worked as a senior financial consultant in an international M&A boutique and a major German bank. His research subjects include the behavioral science of capital market theory and market microstructure theory and valuation of assets objects. 

Policies and ethics