Financing Sustainable Development: Key Challenges and Prospects PDF
Preview Financing Sustainable Development: Key Challenges and Prospects
PALGRAVE STUDIES IN IMPACT FINANCE Financing Sustainable Development Key Challenges and Prospects Edited by Magdalena Ziolo · Bruno S. Sergi Palgrave Studies in Impact Finance Series Editor Mario La Torre Sapienza University of Rome Rome, Italy The Palgrave Studies in Impact Finance series provides a valuable scientific ‘hub’ for researchers, professionals and policy makers involved in Impact finance and related topics. It includes studies in the social, political, environmental and ethical impact of finance, exploring all aspects of impact finance and socially responsible investment, including policy issues, financial instruments, markets and clients, standards, regulations and financial management, with a particular focus on impact investments and microfinance. Titles feature the most recent empirical analysis with a theoretical approach, including up to date and innovative studies that cover issues which impact finance and society globally. More information about this series at http://www.palgrave.com/gp/series/14621 Magdalena Ziolo • Bruno S. Sergi Editors Financing Sustainable Development Key Challenges and Prospects Editors Magdalena Ziolo Bruno S. Sergi Faculty of Economics and Davis Center for Russian and Management Eurasian Studies University of Szczecin Harvard University Szczecin, Poland Cambridge, MA, USA Palgrave Studies in Impact Finance ISBN 978-3-030-16521-5 ISBN 978-3-030-16522-2 (eBook) https://doi.org/10.1007/978-3-030-16522-2 © The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2019 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: © AlexSava / iStock / Getty Images Plus This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland A cknowledgements Research results presented in this book are an element of the research project implemented by the National Science Center Poland under the grant OPUS13 no UMO-2017/25/B/HS4/02172. v Praise for Financing Sustainable Development “This book provides a significant insight into new methodologies of researching effective resources of sustaining development while boosting global economy that is also relevant to The Americas’ economy.” —Dr. Abel Adekola, Dean and Professor of International Management, Jay S. Sidhu School of Business & Leadership, Wilkes University, USA “This is a valuable book that discusses and elaborates on contemporary challenges and prospects of sustainable development with particular emphasis on the finance aspects. Financing Sustainable Development presents relevant theoretical and the latest empirical studies in the scope of financing sustainable development. It pro- vides a comprehensive understanding of financing sustainable development, par- ticularly in the emerging Asian markets.” —Professor Jamal Wiwoho, Rector, Universitas Sebelas Maret, Indonesia vii c ontents 1 Introduction 1 Bruno S. Sergi and Magdalena Ziolo 2 Sustainability in Finance and Economics 9 Diana-Mihaela T‚îrca˘, Anis‚oara-Niculina Apetri, and Mirela Ionela Aceleanu 3 Sustainable Development Versus Green Banking: Where Is the Link? 53 Magdalena Ziolo, Marta Pawlaczyk, and Przemysław Sawicki 4 Sustainability, Innovation, and Efficiency: A Key Relationship 83 Daniele Schilirò 5 Socially Responsible Financial Markets 103 Dejan Jednak and Sandra Jednak 6 Institutional Investments and Responsible Investing 127 Ria Sinha and Manipadma Datta 7 Patronage in the Financing of Social and Sustainable Projects 169 Manuel Nieto-Mengotti and Carmen Gago-Cortés ix x CONTENTS 8 Sustainable Capital Market 193 Andreea Stoian and Filip Iorgulescu 9 Sustainable Public Finance and Debt Management 227 Isabel Novo-Corti and Xose Picatoste 10 Environmental, Social and Governance Risk versus Company Performance 249 Türker Şimşek, Halil İbrahim Aydın, and Bartosz Oliwa 11 Sustainable Financial Systems 269 Stanisław Flejterski 12 Green Finance Concept: Framework and Consumerism 299 Marwa Ben Ghoul 13 Public–Private Partnerships as a Mechanism of Financing Sustainable Development 313 Bruno S. Sergi, Elena G. Popkova, Kseniya V. Borzenko, and Natalia V. Przhedetskaya 14 Social Reporting of Egyptian Islamic Banks: Insights from the Post-Revolution Era 341 Mohamed Nagy Osman Index 371 n c otes on ontributors Mirela Ionela Aceleanu is PhD Professor in the Department of Economics and Economic Policies and Director of the Doctoral School of Economics I, Bucharest University of Economic Studies, Romania. She has partici- pated in research internships at the University of Reading (UK), University of Gothenburg (Sweden) and University of Barcelona (Spain). Her exten- sive research experience consists of the publication of numerous economic studies and participation in conferences and in research projects. She is Assistant Editor of the Theoretical and Applied Economics Journal and a reviewer for many other journals. Research interests include the labour market, employment policies, green jobs, environmental policies, sustain- able development, the rural and green economies, and education. Anis‚oara-Niculina Apetri is PhD Assistant Professor in the Department of Accounting, Finance and Audit, Stefan cel Mare University of Suceava, Romania. She has participated in Erasmus training at the University of Parma (Italy). Her research experience consists of the publication of numer- ous economic studies and participation in conferences and in research proj- ects. She is Assistant Editor of the Accounting, Finance and Business Economics Journal and a reviewer for several conferences and journals. Research interests include finance, corporate finance, public finance, sus- tainable finance and banking. . Halil Ibrahim Aydın is Associate Professor at the department of econom- ics, Faculty of Economics and Administrative Sciences at Batman University. He also serves as Vice Dean of the Faculty of Economics and Administrative Sciences and on the Faculty Board of Directors. His teaching areas are xi
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