Top three papers of WAIFC Young Academic Award 2023
The first paper is from Ved Beloskar from Anil Surendra Modi School of Commerce, NMIMS Deemed to be University, Mumbai, India, with the title: Socially Responsible Investments: A Retrospective Review and Future Research Agenda
Summary of his Paper
Socially responsible investments (SRIs) have occupied the center stage of discussion in the finance and social discourses. This study aims to unravel the intellectual structure of the research on SRI. At present, SRI is undertheorized, and the extant literature is divided into multiple fragments. Existing review studies on SRI suffer from limitations related to definitions and methods. We organize the theoretical lines of extant research and tie them up with empirical studies in the field by using systematic literature review and bibliometric techniques on a corpus of as large as 976 research articles. Our study describes the current dynamics of the SRI field, clusters the fragments of research into meaningful themes, highlights the impediments to current research, and also proposes an agenda for future research. Although research on SRI occurs globally, the lack of academic collaboration among scholars and under theorization are two major challenges of the field. Future research could examine ESG-based asset pricing models, sustainable factor investing, and measures to tackle greenwashing.
You can download the whole paper here.
The second paper is from Marta Kotlarskaa from the SGH Warsaw School of Economics, Warwas, Poland, with the title: Examining the usefulness of Blockchain-based tokens in their ability to offset carbon emissions
Background of her study
This study delves into the role of Blockchain-based tokens in addressing carbon emissions, juxtaposing them with traditional carbon credits. It offers an in-depth look at the current carbon markets, evaluates carbon credits, and introduces the concept of carbon tokens, with a particular focus on the technical nuances of the three leading ERC token standards. The research underscores the potential of tokenization to rectify prevalent market challenges, foster a Blockchain-centric economy, promote eco-friendly behaviors, and lay the groundwork for enhanced market standardization. Through Blockchain technology, carbon token initiatives aim to innovate within the carbon markets, incentivize participation, and amplify environmental consciousness.
You can download the whole paper here.
The third paper is from Lionel Mok from the Hong Kong University of Science and Technology, Hong Kong, with the title: Charting the Way Forward for Sustainable Finance Talent Development
Summary of his Paper
This paper explores how the integration of climate change and sustainability into global financial markets is shaping the need for sustainable finance skills and talent management. It employs Elinor Ostrom’s Institutional Analysis and Development (IAD) framework methodologically and uses qualitative methods to examine the talent-related dynamics experienced across financial market stakeholders. Desktop research, a survey, and interviews with expert stakeholders in Hong Kong’s financial market are used to conceptualize the talent required to integrate sustainability into the financial system. In doing so this paper seeks to help governments create the enabling environment to allow International Financial Centers (IFCs) to support global climate and sustainability objectives. We investigate the regulatory developments that are driving the market for sustainable finance professionals and use case studies to describe how different markets are building talent-development strategies in response to these needs.
You can download the whole paper here.
Our Chair will announce the winner of the best paper and award a prize of €3,000, the runners-up will be awarded prizes of €2,000 (2nd place) and €1,000 (3rd place) at WAIFC’s Annual General Meeting to be held in New York, USA on the 19th of October 2023.