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Diversifying finance research: From financialization to sustainability

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  • Lagoarde-Segot, Thomas

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.

Suggested Citation

  • Lagoarde-Segot, Thomas, 2015. "Diversifying finance research: From financialization to sustainability," International Review of Financial Analysis, Elsevier, vol. 39(C), pages 1-6.
    • Handle: RePEc:eee:finana:v:39:y:2015:i:c:p:1-6
    DOI: 10.1016/j.irfa.2015.01.004
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    More about this item

    Keywords

    Finance; Epistemology; Sustainability;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • G00 - Financial Economics - - General - - - General

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