{"title":"How Far Can Financial Acumen Push Positive Social Impact? The Case of the Redevelopment of Spofford in the Bronx","authors":"Ludovic Phalippou","doi":"10.2139/SSRN.3793552","DOIUrl":null,"url":null,"abstract":"When Eric Clement graduated from the University of Oxford Said Business School executive MBA program on his 37th birthday, he was searching for the new Eldorado: jobs in the high-octane private equity industry. These were simply the most sought-after jobs out there – pay was high! The first-born son of Panamanian-American parents now had the degree, knowledge, and experience to make it happen. But then he was offered a job in a government organization, where he would hire fund managers to make investments and where he would have to focus on the social impact of his investments. He was intrigued. Growing up in a middle-class suburb of NYC, Eric knew how difficult it was to move up the socioeconomic ladder. He had been working since he was 11-years old, and because his parents were not from the U.S., he didn’t have the social contacts many of his friends did, which could open up career paths he had never heard of. Could he use the finance skills he had acquired throughout his career to improve the lives of underrepresented people so they wouldn’t have to go through what he did? What if a hard-core finance chap like himself stepped into a world where finance acumen was rare and tree-hugging plentiful? What if he took the opposite seat at the negotiation table, effectively hiring the people he wanted to join, and got them to behave and act responsively? What would happen then?","PeriodicalId":208149,"journal":{"name":"Finance Educator: Courses","volume":"44 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2021-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Educator: Courses","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/SSRN.3793552","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
When Eric Clement graduated from the University of Oxford Said Business School executive MBA program on his 37th birthday, he was searching for the new Eldorado: jobs in the high-octane private equity industry. These were simply the most sought-after jobs out there – pay was high! The first-born son of Panamanian-American parents now had the degree, knowledge, and experience to make it happen. But then he was offered a job in a government organization, where he would hire fund managers to make investments and where he would have to focus on the social impact of his investments. He was intrigued. Growing up in a middle-class suburb of NYC, Eric knew how difficult it was to move up the socioeconomic ladder. He had been working since he was 11-years old, and because his parents were not from the U.S., he didn’t have the social contacts many of his friends did, which could open up career paths he had never heard of. Could he use the finance skills he had acquired throughout his career to improve the lives of underrepresented people so they wouldn’t have to go through what he did? What if a hard-core finance chap like himself stepped into a world where finance acumen was rare and tree-hugging plentiful? What if he took the opposite seat at the negotiation table, effectively hiring the people he wanted to join, and got them to behave and act responsively? What would happen then?
埃里克•克莱门特(Eric Clement)在37岁生日那天从牛津大学(University of Oxford)赛德商学院(Said Business School)的emba课程毕业时,正在寻找新的天堂:在高活力的私募股权行业找到工作。这些都是最抢手的工作——薪水很高!巴拿马裔美国人父母的长子现在拥有了实现这一目标所需的学位、知识和经验。但后来他在一家政府机构找到了一份工作,在那里他将聘请基金经理进行投资,他必须专注于他的投资的社会影响。他很感兴趣。埃里克在纽约郊区的一个中产阶级家庭长大,他知道要在社会经济阶梯上往上爬有多难。他从11岁起就开始工作,因为他的父母不是美国人,所以他没有很多朋友所拥有的社会关系,而这可能会为他开辟一条他从未听说过的职业道路。他能否利用他在职业生涯中获得的金融技能来改善弱势群体的生活,让他们不必经历他所经历的一切?如果一个像他这样的核心金融人走进一个金融头脑稀缺、环保意识丰富的世界,会怎么样?如果他在谈判桌上坐到相反的位置,有效地雇佣他想要加入的人,并让他们表现得有反应呢?然后会发生什么?