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Construire la relation (positive) entre performance sociétale et financière sur le marché de l'ISR : de la performation à l’autoréalisation ?

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  • Jean-Pascal Gond

Abstract

[eng] Constructing the (positive) relationship between social and financial performance on the SRI market : from performation to self-realization ? . This paper provides a theoretical framework to investigate « CSP-FP relationship » as a social construction on financial markets. These processes of beliefs’ framing could be analysed building on insights from new-institutional theorists and from Callon (1998)’s concept of performativity. Moreover, the diffusion of these behaviours and beliefs could also contribute to the effective realization of such a relationship on financial markets thanks to self-fulfilling mechanisms. These ideas offer the opportunity to reframe theoretically the classical debate around « the CSP-FP link » and to propose a new framework describing the various processes of performativity through which actors enact and construct the positive relationship between CSP and FP, leading potentially to its self-realization on financial markets. The case of Socially Responsible Investment is used to illustrate this framework. . JEL classification : A14, M14 [fre] Cet article étudie l’interaction entre performance sociétale et financière comme une construction sociale sur les marchés financiers. Les processus de cadrage des croyances, quant au lien entre PSE et PF, peuvent être analysés en s’appuyant sur la perspective néo-institutionnaliste et sur la notion de performativité développée par Callon (1998). De plus, la diffusion de ces croyances et comportements peut contribuer à la construction réelle d’une relation entre PSE et PF, du fait de mécanismes autoréalisateurs. Ces idées permettent de recadrer théoriquement le débat sur le lien entre PSE et PF en proposant un nouveau modèle décrivant les processus performatifs aux travers desquels les acteurs construisent la relation positive entre PSE et PF, conduisant à sa potentielle autoréalisation sur les marchés financiers. Le cas de l’investissement socialement responsable est utilisé pour illustrer ce modèle. . Classification JEL : A14, M14

Suggested Citation

  • Jean-Pascal Gond, 2006. "Construire la relation (positive) entre performance sociétale et financière sur le marché de l'ISR : de la performation à l’autoréalisation ?," Revue d'Économie Financière, Programme National Persée, vol. 85(4), pages 63-79.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2006_num_85_4_4143
    DOI: 10.3406/ecofi.2006.4143
    Note: DOI:10.3406/ecofi.2006.4143
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    References listed on IDEAS

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    1. Michael C. Jensen, 2010. "Value Maximization, Stakeholder Theory, and the Corporate Objective Function," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 32-42, January.
    2. repec:dau:papers:123456789/1478 is not listed on IDEAS
    3. Daniel Beunza Ibáñez & Raghu Garud, 2004. "Security analysts as frame-makers," Economics Working Papers 733, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2005.
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    Cited by:

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    More about this item

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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