Inaugural lecture: Finance and the arts - Rachel Pownall
Prof. Dr. Rachel Pownall will deliver her inaugural lecture "Finance & The Arts" at the University of Tilburg on December 18th. Pownall – a lecturer at TIAS – is the first professor to hold the chair Art & Finance. She aims to bring about a change in the way we measure the social and cultural impact of financial decisions. In her lecture, she will explain why the financial world needs the arts and how that dependency can encourage investment in art.
Pownall used a quantitative model and empirical data in her research to demonstrate the value development of art objects over the years. She makes reference to affective psychology to make it clear how the discrepancy between the objective and subjective valuation of goods arises, how this leads to under-representation of certain sectors – including art – in investment decisions and how these insights can be used to create a healthier investment climate in which, next to financial gain, social benefits can be had as well. Common ground
Pownall's choice and objective for her lecture stem from her interest in the common ground between the art world and the financial world: "Art is a form of expression and expression is constituted through culture. Art helps culture to change and it is high time the culture in the financial world changed. [...] I want individuals and organizations to take investment decisions that are sustainable in the long term and that will benefit both business and societal interests."Read moreFinance and the arts, Rachel Pownall (2015)