Project

Social and Sustainable Finance and Impact

Project

Jan 2014 - dato
Literature from fields such as Social Entrepreneurship and Public Management already extensively deals with the many faces of social ventures and blended value creation (Gundry, Kickul, Griffiths, & Bacq, 2011; Lehner, 2011; Nicholls, 2009). However, looking at the investors‘ side – when it comes to informed decision making about individual investments and the building of a portfolio of such ventures – little is actually known about the rationale of social investors, apart from anecdotal case studies. Reasons behind may be the lack of adequate instruments that are familiar to the finance industry, yet include modern sustainability factors.

The BL Model (Brandstetter – Lehner Model) developed at the accounting and fi nance department is an advanced portfolio optimization tool that enables large investors such as banks, pension funds or insurances to include ESG (environmental, social and governance) factors in their rational decision making when it comes to building portfolios that deliver not only the required fi nancial returns, but also include social returns and risks for increased sustainability and impact. This model is based on sophisticated Monte Carlo Simulations with data gathered from expert panels and makes use of the preference matrices as proposed by Black and Litterman to optimize mean-variance portfolios. In this project CRF collaborates with the Said Business School of the University of Oxford.  

 
2017
N. Zadrazil, O. Lehner - M&As are a strategic instrument to grow for corporations. However, acquiring corporations have to face a large number of challenges to really succeed in merging two organisations. Half of all transactions have been failing resulting in disastrous write-of - British Academy of… more
2017
A. Ganthaler, O. Lehner - Academic Conferences in the Field of Management: A Triangulated Conjoint Analysis - British Academy of Management Proceedings, Warwick, United Kingdom of Great Britain and Northern Ireland, 2017 more
2016
O. Lehner - Impact Investing - Nachhaltige Investitionen mit Hebel - CFOactual, 2016, pp. 183-188 more
2016
O. Lehner, C. Weber - Challenging Institutional Hybridity in Social Entrepreneurship with Configuration Theory - Academy of Management Proceedings, Anaheim, California, United States of America, 2016 more
2016
P. Dey, O. Lehner - Registering Ideology in the Creation of Social Entrepreneurs: Intermediary Organizations - JOURNAL OF BUSINESS ETHICS, Vol. 133, No. 2, 2016 more
2016
O. Lehner, C. Weber - Overcoming Hybridity in Neo-Institutionalism - EGOS 2016, Naples, Italy, 2016 more
2016
J. Pesendorfer, O. Lehner - Islamic banking and Finance as an Ethical Alternative: a Systematic Lieterature Review - ACRN Oxford Journal of Finance and Risk Perspectives, Vol. 5, No. 2, 2016, pp. 42-64 more
2015
O. Lehner, E. Grabmann, C. Ennsgraber - Crowdfunding – Innovationsmotor oder Irrweg? – Auswirkungen auf Geschäftsmodelle junger Unternehmer - CFO today, Vol. 9, No. 4, 2015, pp. 156-162 more
2015
O. Lehner, L. Brandstetter - Opening the Market for Impact Investments: The Need for Adapted Portfolio Tools - Entrepreneurship Research Journal, Vol. 5, No. 2, 2015, pp. 87-107 more
2015
O. Lehner, C. Weber - Challenging Hybridity in Social Entrepreneurship: Growing Up from In-Betweeners with Configuration Theory - 12th NYU Stern Conference on Social Entrepreneurship Proceedings, New York, United States of America, 2015 more
2015
O. M. Lehner - Routledge Handbook of Social and Sustainable Finance - Routledge - Taylor and Francis Group, 2015 more
2015
O. Lehner - Debt and Equity based Crowdfunding of Social Ventures in Oxford Handbook of Social Finance (Editors: A. Nicholls) - Oxford University Press, 2015 more
2015
O. Lehner, E. Grabmann, C. Ennsgraber - Entrepreneurial Implications of Crowdfunding as Alternative Finance Source for Innovations - Journal of Venture Capital, Vol. 17, No. 1, 2015, pp. 171-189 more
2015
O. Lehner - Finance, Risk and Accounting Perspectives - Journal of Applied Accounting Research, Vol. 16, No. 3, 2015 more
2015
S. Baumann, O. Lehner, H. Losbichler - A push-and-pull factor model for environmental management accounting: a contingency perspective - Journal of Sustainable Finance & Investment, Vol. 5, No. 3, 2015, pp. 1-24 more
2014
B. Fischer, B. Gral, O. Lehner - Evaluating SOX Section 404: Costs, Benefits and Earnings Management - Journal of Finance and Risk Perspectives, Vol. 3, No. 1, 2014 more
2014
O. Lehner, A. Germak - Antecedents of social entrepreneurship: between public service motivation and the need for achievement - International Journal of Social Entrepreneurship and Innovation, Vol. 3, No. 3, 2014, pp. 214-229 more