Inhaltsverzeichnis
Why Ethics and Morality are Inherent to a Market Economy
Von: Markus H.-P. Müller
Sustainability and Intrinsic Value in Trainee Development
Von: Manuel Hohmann, Sebastian Lechner, and Isabel Ruckelshauß
In our paper, we identify moral development as a great opportunity to improve the Deutsche Bank’s current trainee program. The program has not yet been able to fully meet high potentials’ growing demand for ethically outstanding employers- a decisive feature in the war for talent. Since morally educated professionals perform better, there is a positive effect on the bank’s revenue and business performance. On the back of Lawrence Kohlberg’s groundbreaking work on moral psychology and based on recent studies on moral education, we suggest modifications to the Deutsche Bank’s trainee program.
Collective Risk Assessment
Von: Andreas Bauer, Julian Gropp, and Tobias Weinmann
In recent years, traditional risk assessment has come more and more under fire. The judgement of experts in combination with statistical and historical data was often perceived as an objective measure and prediction of risk. However, these orthodox assumptions seem to be counterbalanced by empirical evidence. Yet findings in the fields of swarm intelligence and behavioural finance seem to lead to promising alternatives. This paper argues for an investment tool that is based precisely on these findings and thus could help reduce risk and enhance experts’ judgements.
Ökonomie in der Krise
Von: Alexander Baumann
Die Arbeit konzentriert sich auf den Zusammenhang zwischen Kreditbeziehungen auf dem Interbankenmarkt und Vertrauen. Sie versucht die Bedeutung und den Nutzen von Vertrauen bei der Kreditvergabe zwischen Banken zu bestimmen bzw. zu zeigen, dass ein Mindestmaß an Vertrauen grundlegend für einen funktionierenden Interbankenmarkt ist. Um dies zu erreichen, werden zunächst die Rolle des Interbankenmarktes im Wirtschaftssystem und die Notwendigkeit von Vertrauen bei interdependenten Handlungsentscheidungen erläutert. Mit Hilfe der Prinzipal- Agent-Theorie werden die beiden Bereiche zusammengeführt und auf den Interbankenmarkt angewendet. Es wird gezeigt wie Vertrauenskrisen entstehen und sich ausbreiten. Außerdem wird der Zustand des Interbankenmarktes der Eurozone anhand einiger Indikatoren kurz dargestellt.
The Idea of Venture Philanthropy
Von: Constantin Ebert and Anne Philine Kersting
This paper deals with the combination of Venture Capital and Philanthropy, creating a new concept: Venture Philanthropy. Philanthropy has a long history and has been redefined many times in an evolutionary process. Philanthropic initiatives, private or corporate, are considered fair in a sense of a subsequent giving back after previous success. Philanthropy offers an enormous social and economic impact if it is done in a strategic and efficient way. Venture Capital is said to be an efficient method in aspiring companies, markets and projects. The potential of a purposeful combination of these activities has not yet been fully realised. We argue that it is possible to unite philanthropic intentions and instruments of venture capitalism, leading to a win-win situation.
Private Venture Philanthropy
Von: Edda Becker and Tabea Schär
This paper presents a new model of venture philanthropy investment and donation. We want to link social entrepreneurs with High-Net-Worth-Individuals (HNWI) Our vision is to achieve philanthropic goals by means of venture capital financing. Therefore, we transfer the economic principle of utility maximisation to the social sector. Creative minds are eager to implement their social entrepreneurial ideas to carry out a change in society but usually face a problem of funding. Meanwhile, the number of HNWI, who have huge financial potential, grows steadily. The concept of Private Venture Philanthropy targets exactly this issue by implementing a new player in this sector consisting of staff of the P&E institute and external experts. The so-called P&E board brings social entrepreneurs and HNWI together, providing high-quality social investments in cooperation with the Private Wealth Management service of a bank.
Social Impact Philanthropy
Von: Martin Jakob and Jonathan Krull
In this article the concept of Social Return on Investment (SROI) and its applicability to the Private Venture Philanthropy (PVP) project are analysed and assessed. PVP is a network that connects financially highly potent investors with promising social entrepreneurs who put forward innovative social business ideas with the ambition of contributing to the solution of current social problems. After a short introduction considering the four constituents of the PVP network, we will depict the screening-signalling and monitoring-reporting network within PVP in order to offer a better understanding of the various relations between the parties involved. It will turn out to be crucial to consider this unique network within the light of two economic theories - agency theory and social capital theory. Given this, we will evaluate the existing forms of social impact assessment and employ the promising concept of SROI. In a last step, it remains to make some adaptations for enhanced applicability and draw up a clearer picture of the advantages of the interaction between the approaches of SROI and PVP.