Fritz Mostboeck, Vice-Chairman of OeVFA (Austrian Association for
Financial Analysis and Asset Management, www.ovfa.at) and Member of the Executive Management Committee of EFFAS (European Federation of Financial Analysts Societies, www.effas.net) has published a study entitled "Corporate Responsibility 2.0; From Corporate Responsibility to General Responsibility".

The author bases his assumptions on a comprehensive concept of responsibility that does not reflect any specific political stance, but rather focuses on goals that contribute to the improvement of the economic, ecological and social conditions for people in general. The errors of the past are analyzed to draw conclusions on how to avoid false developments in the future.

In the light of the current crisis, Fritz Mostboeck investigated 44 concrete approaches that he broke down into general state measures, environmental aspects, social and ethical themes, and governance issues, presenting a number of - in some cases - quite unconventional and courageous measures. The conclusion drawn by the author is that the most important condition for sustainably overcoming the current crisis is to regain trust. Fritz Mostboeck shows how this can be achieved.

Trust will only be regained if an approach is taken that is based on a broad understanding of "responsibility" that covers all individuals and institutions (entities and employees) irrespective of whether a company is exchange-listed or not as well as governments and NGOs. The basically quite correct principle of the stakeholder approach (stakeholders essentially include shareholders, customers, employees and suppliers) must be redefined comprehensively. What is needed - as shown very clearly now - is concerted action by states, governments, central banks, NGOs and all other responsibly-acting entities, public bodies, individuals with public functions and private individuals.

The study may be downloaded from our ACIIA website:
http://www.aciia.org/pages/news.asp.

It is also available at www.ovfa.at (Austrian Association for Financial Analysis and Asset Management), www.dvfa.de (Society of Investment Professionals in Germany), www.effas.net (The European Federation of Financial Analysts Societies), www.effas-esg.com (EFFAS Commission on ESG) and www.sustainablefinancialmarkets.net (International Network for Sustainable Financial Markets).

About OVFA

Since its foundation in 1972, the objective of the Austrian Association for Financial Analysis and Asset Management (Österreichische Vereinigung für Finanzanalyse und Asset Management, ÖVFA) has been to promote the flow of information between listed companies and investors, to provide analysts, fund managers and other investors with a platform for sharing their experiences, to better acquaint domestic and foreign investors with Austria’s role as a financial centre and to represent the interests of its members to the public and within the scope of economic policy initiatives aimed at fostering Austria’s financial market. The complex field of asset management, which presents great opportunities but at the same time carries numerous risks, makes it essential that the decision making process be as efficient and transparent as possible.

OVFA, Austrian Association for Financial Analysis and Asset Management

OVFA, Austrian Association for Financial Analysis and Asset Management

Since its foundation in 1972, the objective of the Austrian Association for Financial Analysis and Asset Management (é–sterreichische Vereinigung fé¼r Finanzanalyse und Asset Management, é–VFA) has been to promote the flow of information between listed companies and investors, to provide analysts, fund managers and other investors with a platform for sharing their experiences, to better acquaint domestic and foreign investors with Austria’s role as a financial centre and to represent the interests of its members to the public and within the scope of economic policy initiatives aimed at fostering Austria’s financial market. The complex field of asset management, which presents great opportunities but at the same time carries numerous risks, makes it essential that the decisionmaking process be as efficient and transparent as possible.

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