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A Social Movement Perspective on Finance: How Socially Responsible Investment Mattered

Author

Listed:
  • Diane-Laure Arjaliès

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

Abstract

This study discusses how social movements can influence economic systems. Employing a political-cultural approach to markets, it purports that 'compromise movements' can help change existing institutions by proposing new ones. This study argues in favor of the role of social movements in reforming economic institutions. More precisely, Socially Responsible Investment (SRI) movements can help bring SRI concerns into financial institutions. A study of how the French SRI movement has been able to change entrenched institutional logics of the French asset management sector provides wide-ranging support for these arguments. Empirical findings are drawn from a longitudinal case study (1997-2009), based on participative observation, interviews and documentary evidence. Implications for research on social movements, institutional change and SRI are outlined. Lastly, the study provides practitioners with some theoretical keys to understand the pros and cons of 'SRI labels'.

Suggested Citation

  • Diane-Laure Arjaliès, 2010. "A Social Movement Perspective on Finance: How Socially Responsible Investment Mattered," Post-Print hal-00610150, HAL.
    • Handle: RePEc:hal:journl:hal-00610150
    DOI: 10.1007/s10551-010-0634-7
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    Citations

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    Cited by:

    1. Patricia Crifo & Vanina Forget, 2013. "Think Global, Invest Responsible: Why the Private Equity Industry Goes Green," Journal of Business Ethics, Springer, vol. 116(1), pages 21-48, August.
    2. Amarjit Gill & Harvinder S. Mand & Afshin Amiraslany & Neil Mathur, 2017. "Socially Responsible Investment, Internal Financing Sources and Access to Bank Financing: Evidence from Indian Survey Data," Asian Academy of Management Journal of Accounting and Finance (AAMJAF), Penerbit Universiti Sains Malaysia, vol. 13(2), pages 109-133.
    3. Andreas Hoepner & Thereza Aguiar & Ravi Majithia, 2014. "The Level of Compliance with the International Code of Marketing of Breast-Milk Substitutes: Does it Matter to Stock Markets?," Journal of Business Ethics, Springer, vol. 119(3), pages 329-348, February.

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