You are on page 1of 27

4thJointResearchConference24thofJune,2013

CorneliaCaseau Identitybuildingforethicalinvestments. Fromtheinstitutionaldiscoursetothepromotion campaignofOikocreditAustria

Researchquestions

1/Whatistheperceptibleidentitycommunicatedthroughthe differenttypesofcommunicationofOikocreditAustria?

2/Canthisidentitybuildingbeconsideredthereasonforthe recentincreaseofethicalinvestmentinAustria?

TheideaofOikocredit TheideaofOikocreditstartedata1968meetingoftheWorld CouncilofChurcheswithyoungpoliticallyengagedchurch membersinUppsala,Sweden(againstfinancingtheVietnam warorApartheidbytraditionalbanks)

ThemissionofOikocredit

Oikocreditisoneoftheworldslargestsourcesofprivate fundinginthemicrofinancesector.Oikocreditprovidescredit andequitytosmallbusinessesthroughmicrofinanceinstitutions acrossthedevelopingworldanddirectlytotradecooperatives, fairtradeorganizationsandsmalltomediumsizedenterprises (SMEs).Oikocreditinvestorsareofferedadualreturn:socialand financial.Inadditiontoearningmodestfinancialreturns, investorsaresecureintheknowledgetheirmoneyisbeingused tofightpoverty,promotefairtradeandrespectourplanets naturalresources (http://www.mixmarket.org/funders/oikocredit)

Oikocreditborrowers

80% female, 55% from rural areas 79% of loans invested in micro-finance activities, 12% in agriculture Distribution of the credit volume:
Latin America 46% Asia Africa Middleand Eastern Europe 9%

26%

15%

AnnualReportOikocreditInternational2012
Memberspercontinent Western Africa Europe and Middle East Asia, Australia andthe Pacific South America, Central America andthe Caribbean 77 North Centraland America Eastern Europe

211

125

108

64

13

AnnualReportOikocreditInternational2012
NumberofInvestors(x1,000,Top5countries)

Germany

Netherlands

USA

Austria

Switzerland

20.7

9.4

5.7

3.5

2.5

AnnualReportOikocreditInternational2012

Netinflow(x millions)Topcountries31December,2012 Germany Austria Netherlands Switzerland UK&Ireland 33.2 10.7 5.6 1.8 1.7

Oikocredit Austria Foundedin1990inVienna 13membersoftheboard(1president=formerCEOofthe cooperativeRaiffeisenbank) Vienneseoffice:5employeesandmanyvolunteers Regionalrepresentatives

AnnualReportOikocreditInternational2012
ChangeinthenumberofAustrianmembers Year 2005 2006 2007 2008 2009 2010 2011 2012 Entries 108 248 206 185 555 695 480 760 Departures 4 8 19 26 15 27 54 53 Total 533 773 960 1.119 1.659 2.328 2.755 3.462 Increase 24% 45% 24% 17% 48% 40% 18% 26%

10

AnnualReportOikocreditInternational2012
AnnualinvestmentcapitalprovidedbyAustrianOikoccreditmembers Year 2005 2006 2007 2008 2009 2010 2011 2012 Euro 4,417,000 6,094,000 7,558,000 9,169,000 15,182,000 24,779,000 31,355,000 42,055,000 Increase 28% 38% 24% 21% 66% 63% 27% 34%

11

InvestorsofOikocreditAustria2012 Averageage:50to59years Gender:equalnumberofmaleandfemaleinvestors Membershipfees:4 (018),15 (1827),20 (overage27),or 40 (supportingmembers) Minimuminvestment:200 Averageinvestment:12,150 Dividend:2%

12

LiteraturereviewI:Firm/brandidentity thepersonalityofabrand,arelationalapproach(Aaker,1997) identity=combinationofseveralcomponents(Meffert& Burmann,2002) accentuatedifferenceseveniftherearentany(Karmasin, 2004) abrandhastoberecognisedatanyplaceandmoment (Chur&Schwarz,2004) theidentityprism,composedofsixfacets(Kapferer,1995) Identity=theconceptofemissionbythefirm,image=the conceptofreceptionbytheconsumer(Kapferer,1995/ Gardes&Beguinet,2012)

13

LiteraturereviewII:Ethicalinvestment DefinitionofethicsgivenbytheOxfordDictionary: moralprinciplesthatgovernapersonsbehaviourorthe conductingofanactivity theactorcouldhavebehaveddifferently=hehadgood reasonsforhischoice(Anzenbacher,1992) man,incontrasttoanimals,isorientedonsocialnorms. Experienceofpersonalidentityanddignity(Kaiser,1992) apersondoesthingsinconformitywithprevailing norms/or:inquestioningtraditionalrules(Knig,2003)

14

Researchmethodology

Analysisofdifferenttypesofdiscourse 1/Corporate/Commercialdiscourse a)Logo,websites,advertisingcampaigns b)Firmdocuments(annualreports,internaldocuments) 2/Managerialdiscourse(semidirectedinterviews)and interviewsgiveninthemedia

15

Interviewguidelines(Dec.2012 May2013) 1) TherelationshipbetweenOikocreditAustriaandOikocredit International 2)Theaimsofthemicrofinanceorganization 3)EthicalinvestmentinAustria 4)TheinvestorsofOikocreditAustria 5)Oikocreditandthecommunicationstrategy 6)CSRandsocialadvertising


16

Results:thelogo

Colours:orangeandblue Oikos=house,community,world Credit=credere=believe Anabstractedsymboloftheecumenicalmovement

17

Results:thelogosontheAustrianWebsite

18

Results:thewebsiteofOikocreditAustria

HilfezurSelbsthilfeseit1975.ZugangzuFinanzdienstleistungen schaffen
19

Results:thewebsiteofOikocreditAustria InMenscheninvestierenDarlehen,diesozialwirkenundLeben verbessern

InMenscheninvestieren.Darlehen,diesozialwirkenund Lebenverbessern
20

Results:thewebsiteofOikocreditAustria

Nachhaltigveranlagen.Seitber20Jahrenin sterreich
21

Results:theadvertisingcampaign

22

Results:theadvertisingcampaign

23

Results:Kapferersidentityprism(1995)
Physical qualities
Colors :blue/orange Crucifix . Boat

Personality
Altruistic Honest Responsible Integrity

Relationship
Respect Transparency Confidence Sharing

Culture (values)
CSR Cooperative/solidarity Ecumenical spirit Work

Reflection
Social commitment Ethics Social investment

Self-image
Social business Increase somebodys value Non-profit

Conclusion 1/IdentitybuildingforOikocreditAustriaasawellthoughtout andsuccesfulmarketingstrategy 2/Otherfactorshavingcertainlyalsoplayedarolein Oikocreditsrecentsuccess Theworldwidefinancialcrisisanditsconsequences ThearrivaloftheformerRaiffeisenCEO PeterPspkin2008

25

Furtherareasofstudy

1/ThebrandimageofOikocreditAustriaasseenbytheAustrian population 2/TheanalysisofthetypicalOikocreditinvestors 3/Comparisonwithotherformsofcrowdfunding

26

Thankyouforyourattention!

27