Socialaimsoffinanceeabhconference

eabhincooperationwithFondazione1563perl’ArteelaCulturadellaCompagniadiSanPaolo15June2018,Torino,Italy‘TheCityistoobigandsociallyuseless’1saidLordAdairTurner,formerchairmanoftheUKFinancialServicesAuthorityin2009.Thatlegitimacyquestionhasnotgoneawaysince,indeed,ifanythingitappearstogrowstronger.Thisconferenceexploreshowfinancialinstitutionshavetackleditbydevelopingalternativegoalsandbusinessformsfordurablefinancialservices.Joint-stockbanksaretraditionallyseenasthehallmarksofcapitalism,relentlesslypursuingprofits.Thereisanalternativestory,however.Somebankshavealonghistoryofdevotingthemselvestowidersocialgoalsratherthanprofit,otherschosebusinessformswhichfreedthemfromthatrelentlesspursuit.Thegrowingimportanceofdurabilityraisestheneedforfinancialservicestothinkbeyondthebottomline,yetthatraisesnewissues:howmuchprofitdoesabusinessneedtosustainbothcontinuityandalternativegoals,andhowcanalternativebusinessformscompeteinacapitalistworldwithoutlosingtheiruniqueidentity?ManybanksinItaly,theNetherlands,Germanyandassumedlyothercountrieshadsocialbusinessmodelsinthe19thcenturywhichtheygaveupinthe20thcenturyandnowtheyseemtomakeare-appearance.Whyisthat?CanitbeconnectedtotheGreatFinancialCrisisanditsaftermath?Businesswisethereistwowaysforbankssettinguporactinginasocialcontext:eitherasfoundationswithcharitableaims;orotherwise,createinstitutionswithspecificorganisationforms(coops,forinstance)orbusinessgoasgoingbeyondjustmakingprofitsforshareholders.InEurope,severalinstitutionswerecreatedwithspecificorganisationforms(coops,forinstance)orbusiness goals going beyond just making profits for shareholders. In Italy for example, severalcontemporary banks were initiated as secular or religious institutions characterized by charitablepurposes,someofthemofmedievalorigins,othersborninthe16thcenturytohelpthepoorandsick,toprovidefairmoneylendingortoprotectortoeducategirlsandwomen;inmanycasesthosecharities,asshareholders,contributedtomaintainthesocialorientationofthebankingactivityovertime. Evenuntil today these credit institutionsmaintain a non-profit role through their corporatefoundations(CompagniadiSanPaolo,BancodiNapoli,etc.)or localmutualbanks. IntheNLtheyhave,apart fromthecoopRabo, twosuch,TriodosandASN,whichbothdevote theirbusiness topursuingwider, durable social aims beyondprofits; so, do someGerman cooperative and savingsbanksoratleastdidinthepastwhentheywereanessentialcontributortosmallcommunities’lifeandbusiness.Furthermore,themicrofinancemovementisworthmentioningunderthisheadingand 1http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6096546/City-is-too-big-and-socially-useless-says-Lord-Turner.html

soarethemutualinsurancecompanieswhosehistorydeservesacloserinvestigationforlong.Lastnot least there is very recent movement of social currencies that aim at strengthening localcommunitieswithinthecontextofglobalisation,likeforinstancetheBrixtonPoundthatwascreatedwhengentrificationstartedtohitSouth-Londoncommunities.Inshort,welookforsubmissionsofgenuineresearchaboutthehistorydimensionof:

• non-profitbankingandfinancemodelswithsocialorenvironmentalgoalsintheirstatutes• non-profitand(financial)crises• bankingfoundations• microfinance,Grameenbank• mutualinsurance• cooperativefinance,Raiffeisenbanks(ruralcreditbanks)• savingbanks• buildingsocieties• localcurrencies• institutionalinvestorsassocialfinanciers

Thecommitteeresponsibleforthiscontentisformedby:AnnaCantaluppi(Fondazione1563),LiliaCostabile(NaplesUniversity),CarmenHofmann(eabh)andJoostJonker(Amsterdam/UtrechtUniversity).

Selectedparticipantswillbeaskedto:

• submitanabstractandashortlinearCV• deliverafullpaper1monthpriortotheconference• givea10–15MinutespresentationinTorinoinJune2018• forsubmissionsandquestionspleasemailto:c.hofmann@bankinghistory.org

AcademicpapergiverswillhavetheopportunityfortheirpaperstobeconsideredforpeerreviewedpublicationintheFinancialHistoryReview.