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Diversifying finance research: From financialization to sustainability

Abstract : This paper seeks to overcome the apparent contradictions between global demand for sustainability and the structure of conventional financial discourse by putting forth a strategy for diversifying academic finance. It comprises four sections. I first situate academic finance within the broader spectrum of social sciences and highlight its ontological, epistemological and methodological assumptions. Second, I show that these assumptions, taken for granted within the field of finance, are the object of much debate within other fields – as is demonstrated by controversy regarding logical positivism, social ontology and performativity – which brings out the limitations of paradigmatic unity in finance. Third, I characterize diversification in finance with reference to the nested epistemological structure of scientific discourse. I argue that diversification is a process by which (i) finance research is extended to other existing paradigms in social sciences; (ii) new research metaphors are developed within the current paradigm; and (iii) puzzle-solving robustness is achieved. Fourth, I develop a research agenda for the diversification of academic finance. This agenda is broken down into themes, paradigmatic hypotheses, and research questions.
Keywords : Sustainability
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https://hal-amu.archives-ouvertes.fr/hal-01456136
Contributor : Patrice Cacciuttolo <>
Submitted on : Friday, February 3, 2017 - 11:59:12 PM
Last modification on : Wednesday, August 5, 2020 - 3:13:05 AM

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Thomas Lagoarde-Segot. Diversifying finance research: From financialization to sustainability. International Review of Financial Analysis, Elsevier, 2015, 39, pp.1--6. ⟨10.1016/j.irfa.2015.01.004⟩. ⟨hal-01456136⟩

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