New Research funding
Dr. Wiebke Szymczak receives research funding for her project "Behavioral foundations of sustainable financial decisions" from the Idea and Venture Fund 2021. The aim of the Ideas and Venture Fund, which was set up with funds from the Excellence Strategy, is to provide fast and uncomplicated support for measures that serve to prepare a third-party funded project.
People can act sustainably for different reasons. For example, from the point of view of canonical finance research, sustainable decisions can only be expected if material gains can be expected from them. This view is supported by the so-called business case for sustainability. Indeed, a number of studies demonstrate a positive empirical relationship between a company's financial value creation and its sustainability ratings. Contrary to the canonical assumption of homo economicus, however, behavioral economics shows that people generally act rationally only to a limited extent and also take intangible aspects of their decisions into account. Although the implications of behavioral economic findings for the environmental and social sustainability of financial decisions have hardly been researched yet, the possible relevance of a lack of foresight on sustainability in a negative sense, but also of prosocial preferences in a positive sense, are obvious.
The research project will investigate whether and to what extent sustainable decisions are attributable to different types of preferences.
Dr. Wiebke Szymczak won the Liechtenstein Prize for Young Researchers in the category "Best Publication" for her paper entitled "The impact of endogenous and exogenous cash inflows in experimental asset markets", published in the Journal of Economic Behavior and Organization. The prize, endowed with a total of CHF 10,000, is awarded annually for outstanding projects by young researchers at the University of Liechtenstein. It is intended to motivate promising young researchers to pursue a scientific career, to promote research in areas relevant to Liechtenstein, and to strengthen Liechtenstein as a research center. Due to the Corona crisis, the award ceremony was held by mail and will be made up for this year at an official ceremony.
Research @ FU Berlin: "Financial Markets and Sustainable Development in Times of Climate Change"
Today @ Mercator Roundtable "Sustainable Finance - Leveraging finance for a sustainable Transformation"
Dr. Wiebke Szymczak is one of three invited panelist at the Mercator Roundtable 2020. She will discuss with Ass.-Prof. Dr. Martin Nerlinger and Franziska Schütze about ways to leverage finance for a sustainable transformation.
In particular, her main thesis is that the term "sustainable finance" covers a number of different concepts that imply very different incentives for the real economy. For example, a company with minimal ESG-related risks can sometimes cause significant negative externalities.
on the one hand. On the other hand, an environmentally and socially sustainable company may be exposed to extreme ESG-related risks in the future.The transformative potential of sustainable finance ultimately depends on the extent to which the financial sector has credible
incentives to reduce negative externalities and promote positive externalities (impact). In this context, it must be taken into account that
government regulation is explicitly anticipated as a transformation risk.
After six years abroad, I am moving back to Hamburg to start a new position as postdoctoral researcher for sustainable finance at the chair of Prof. Dr. Timo Busch. Looking forward to a new chapter!
The Durham University Business School and the IHRR are proudly hosting a symposium on research exploring fundamental economic questions with a wide interdisciplinary lens. Nobel Laureate Professor Vernon Smith will deliver a lecture exploring the relationship between market and personal interactions through the lens of Scottish Enlightenment and laboratory experiments. BMMLAB's Professor Peter Bossaerts will deliver a talk on decision making in complex tasks that intersects economic theory and biology. At the end of both talks, there will be a Q&A session with both speakers.