Philipp Golka
@pgolka.bsky.social
Senior researcher @mpifg.bsky.social, studying private wealth, finance & the state in the climate crisis. #privatewealth | #impinv | #greenfinance | #strandedassets
Tuilp bulb producer shrugs off "tulip bubble" anxiety with bumper flower bulb demand
November 20, 2025 at 9:47 AM
Tuilp bulb producer shrugs off "tulip bubble" anxiety with bumper flower bulb demand
Just realized the Blairite instructions on our office water fountain are gone. Times have changed, friends.
November 13, 2025 at 9:40 AM
Just realized the Blairite instructions on our office water fountain are gone. Times have changed, friends.
Für alle Fans kapitalfinanzierter Rente: wenn die marktvariablen Zinsen nicht so hoch sind wie erwartet gibt es schon mal Pilot:innenstreiks. Kann man sich ja überlegen ob man das deutsche Umlagesystem wirklich dahingehend verändern möchte.
September 30, 2025 at 11:29 AM
Für alle Fans kapitalfinanzierter Rente: wenn die marktvariablen Zinsen nicht so hoch sind wie erwartet gibt es schon mal Pilot:innenstreiks. Kann man sich ja überlegen ob man das deutsche Umlagesystem wirklich dahingehend verändern möchte.
A chilling reminder that catastrophes often feel distant until they happen.
"Thank you Mother Mary for saving us from war. 1938."
Marienthal Monastery, Hesse
"Thank you Mother Mary for saving us from war. 1938."
Marienthal Monastery, Hesse
September 28, 2025 at 10:45 AM
A chilling reminder that catastrophes often feel distant until they happen.
"Thank you Mother Mary for saving us from war. 1938."
Marienthal Monastery, Hesse
"Thank you Mother Mary for saving us from war. 1938."
Marienthal Monastery, Hesse
Sagt eigentlich alles über unsere Disziplin, dass hier fast jedes Fach vertreten ist – außer die #Soziologie.
September 28, 2025 at 6:23 AM
Sagt eigentlich alles über unsere Disziplin, dass hier fast jedes Fach vertreten ist – außer die #Soziologie.
Wir wollen Gerechtigkeit!
Deutsche:
Deutsche:
September 20, 2025 at 9:20 AM
Wir wollen Gerechtigkeit!
Deutsche:
Deutsche:
… denn die erforderlichen Mittel hatte man bereits für eine Erhöhung der Pendlerpauschale verplant.
September 18, 2025 at 3:03 PM
… denn die erforderlichen Mittel hatte man bereits für eine Erhöhung der Pendlerpauschale verplant.
It’s out!
Do check it out if you’re interested in #impactinvesting and it’s surprisingly large variety!
Do check it out if you’re interested in #impactinvesting and it’s surprisingly large variety!
September 16, 2025 at 11:38 AM
It’s out!
Do check it out if you’re interested in #impactinvesting and it’s surprisingly large variety!
Do check it out if you’re interested in #impactinvesting and it’s surprisingly large variety!
Whenever you feel the world is changing too fast, just let AI express how ManuscriptCentral's retro vibes give you comfort.
🎶 ManuscriptCentral, you're my retro flame 🎶
Now online: tomusic.ai/music/71e84f...
🎶 ManuscriptCentral, you're my retro flame 🎶
Now online: tomusic.ai/music/71e84f...
August 28, 2025 at 11:12 AM
Whenever you feel the world is changing too fast, just let AI express how ManuscriptCentral's retro vibes give you comfort.
🎶 ManuscriptCentral, you're my retro flame 🎶
Now online: tomusic.ai/music/71e84f...
🎶 ManuscriptCentral, you're my retro flame 🎶
Now online: tomusic.ai/music/71e84f...
When in doubt, sauté some apricots
August 20, 2025 at 12:48 PM
When in doubt, sauté some apricots
Very much looking forward to kick off our @sasemeeting.bsky.social Mini-Conference on asset stranding co-organized with @vapunkt.bsky.social & @trgn.bsky.social with this fabulous online panel.
All SASE participants are very welcome to join us on Zoom today at 4PM!
Let me know if you have any Qs!
All SASE participants are very welcome to join us on Zoom today at 4PM!
Let me know if you have any Qs!
July 2, 2025 at 9:24 AM
Very much looking forward to kick off our @sasemeeting.bsky.social Mini-Conference on asset stranding co-organized with @vapunkt.bsky.social & @trgn.bsky.social with this fabulous online panel.
All SASE participants are very welcome to join us on Zoom today at 4PM!
Let me know if you have any Qs!
All SASE participants are very welcome to join us on Zoom today at 4PM!
Let me know if you have any Qs!
We found that much more constraining is financial regulation and the entrenchment of financial models:
Pension funds need to discount liabilities with market interest rates. This means that they have more resources available when rates increase - even if, as in 2021/22, their assets lose value.
Pension funds need to discount liabilities with market interest rates. This means that they have more resources available when rates increase - even if, as in 2021/22, their assets lose value.
June 26, 2025 at 9:52 AM
We found that much more constraining is financial regulation and the entrenchment of financial models:
Pension funds need to discount liabilities with market interest rates. This means that they have more resources available when rates increase - even if, as in 2021/22, their assets lose value.
Pension funds need to discount liabilities with market interest rates. This means that they have more resources available when rates increase - even if, as in 2021/22, their assets lose value.
Interestingly, pension fund autonomy is less constrained by asset managers per se.
As we describe in detail in the paper, the pension investment chain is somewhat complex and it includes both constraining and enabling factors.
As we describe in detail in the paper, the pension investment chain is somewhat complex and it includes both constraining and enabling factors.
June 26, 2025 at 9:52 AM
Interestingly, pension fund autonomy is less constrained by asset managers per se.
As we describe in detail in the paper, the pension investment chain is somewhat complex and it includes both constraining and enabling factors.
As we describe in detail in the paper, the pension investment chain is somewhat complex and it includes both constraining and enabling factors.
We argue that pension funds have "asymmetric autonomy":
PF boards have rather high autonomy vis-a-vis members as they can carve out discretionary space. But their autonomy is much more constrained vis-a-vis the financial sector.
We describe factors of asymmetric autonomy in detail in the paper.
PF boards have rather high autonomy vis-a-vis members as they can carve out discretionary space. But their autonomy is much more constrained vis-a-vis the financial sector.
We describe factors of asymmetric autonomy in detail in the paper.
June 26, 2025 at 9:52 AM
We argue that pension funds have "asymmetric autonomy":
PF boards have rather high autonomy vis-a-vis members as they can carve out discretionary space. But their autonomy is much more constrained vis-a-vis the financial sector.
We describe factors of asymmetric autonomy in detail in the paper.
PF boards have rather high autonomy vis-a-vis members as they can carve out discretionary space. But their autonomy is much more constrained vis-a-vis the financial sector.
We describe factors of asymmetric autonomy in detail in the paper.
For our paper, we investigate pension fund investment in the Netherlands.
Dutch pension funds are not just quantitatively significant as some of the worlds' largest asset owners - they are also qualitatively significant as they give members a lot of voice.
How does this translate into investment?
Dutch pension funds are not just quantitatively significant as some of the worlds' largest asset owners - they are also qualitatively significant as they give members a lot of voice.
How does this translate into investment?
June 26, 2025 at 9:52 AM
For our paper, we investigate pension fund investment in the Netherlands.
Dutch pension funds are not just quantitatively significant as some of the worlds' largest asset owners - they are also qualitatively significant as they give members a lot of voice.
How does this translate into investment?
Dutch pension funds are not just quantitatively significant as some of the worlds' largest asset owners - they are also qualitatively significant as they give members a lot of voice.
How does this translate into investment?
In the age of asset manager capitalism, do asset owners still matter? And what does this mean for the green transition?
@nataschavanderzwan.bsky.social and I investigate this through an in-depth study of how some of the most important asset owners - pension funds - invest.
Now out in SER!
🧵
@nataschavanderzwan.bsky.social and I investigate this through an in-depth study of how some of the most important asset owners - pension funds - invest.
Now out in SER!
🧵
June 26, 2025 at 9:52 AM
In the age of asset manager capitalism, do asset owners still matter? And what does this mean for the green transition?
@nataschavanderzwan.bsky.social and I investigate this through an in-depth study of how some of the most important asset owners - pension funds - invest.
Now out in SER!
🧵
@nataschavanderzwan.bsky.social and I investigate this through an in-depth study of how some of the most important asset owners - pension funds - invest.
Now out in SER!
🧵
Not sure I've ever been this excited for a presentation. Will have the great privilege to be giving a 90min Institute Seminar @mpifg.bsky.social later today, taking stock and looking ahead at my work here at the Institute!
June 18, 2025 at 8:36 AM
Not sure I've ever been this excited for a presentation. Will have the great privilege to be giving a 90min Institute Seminar @mpifg.bsky.social later today, taking stock and looking ahead at my work here at the Institute!
Sagt eigentlich alles über die SPD dass sich prominente Mitglieder gegen die Außenpolitik positionieren aber die Absenkung der Körperschaftssteuer keinen vergleichbaren parteiinternen Widerstand erzeugt.
June 11, 2025 at 10:28 AM
Sagt eigentlich alles über die SPD dass sich prominente Mitglieder gegen die Außenpolitik positionieren aber die Absenkung der Körperschaftssteuer keinen vergleichbaren parteiinternen Widerstand erzeugt.
Having found in my masters thesis that high testosterone individuals prefer being seen as winners even if it means losing money, I had no idea we're talking *that* much money.
If you're a hedge fund manager and want to set up an aggressive tesosterone-based trading strategy, hmu!
If you're a hedge fund manager and want to set up an aggressive tesosterone-based trading strategy, hmu!
June 6, 2025 at 6:49 AM
Having found in my masters thesis that high testosterone individuals prefer being seen as winners even if it means losing money, I had no idea we're talking *that* much money.
If you're a hedge fund manager and want to set up an aggressive tesosterone-based trading strategy, hmu!
If you're a hedge fund manager and want to set up an aggressive tesosterone-based trading strategy, hmu!
Damit in Deutschland mehr gearbeitet wird könnte man ja z.B. das öffentliche Betreuungsangebot ausbauen anstatt Feiertage zu streichen. Aber dazu müsste man Politik als etwas gestalterisches anstatt als die Verteilung von Belohnungen und Bestrafungen ansehen und das ist anscheinend zu viel verlangt.
June 2, 2025 at 4:43 PM
Damit in Deutschland mehr gearbeitet wird könnte man ja z.B. das öffentliche Betreuungsangebot ausbauen anstatt Feiertage zu streichen. Aber dazu müsste man Politik als etwas gestalterisches anstatt als die Verteilung von Belohnungen und Bestrafungen ansehen und das ist anscheinend zu viel verlangt.
Verstehe nicht wie ein SPD Finanzminister als eine der ersten Maßnahmen die im europäischen Vergleich sehr niedrige Körperschaftssteuer senkt anstatt durch Senkung von Ungleichheit die massive Nachfrageschwäche in D zu bekämpfen. Kann man ja gleich mit der CDU fusionieren.
June 1, 2025 at 8:55 AM
Verstehe nicht wie ein SPD Finanzminister als eine der ersten Maßnahmen die im europäischen Vergleich sehr niedrige Körperschaftssteuer senkt anstatt durch Senkung von Ungleichheit die massive Nachfrageschwäche in D zu bekämpfen. Kann man ja gleich mit der CDU fusionieren.
Assets make things actionable to financial activity. They thereby have structuring importance. Financial infrastructures play a key role in this process but they can also be affected by asset logics.
So what, then, *is* an asset?
So what, then, *is* an asset?
May 22, 2025 at 3:19 PM
Assets make things actionable to financial activity. They thereby have structuring importance. Financial infrastructures play a key role in this process but they can also be affected by asset logics.
So what, then, *is* an asset?
So what, then, *is* an asset?
Small 🧵 on my chapter, which combines a review of the literature on #assets with a conceptual argument:
Assets are boundary objects that facilitate various forms of social relations. We thus need to study their lifecycle from assetization, asset management to deassetization to understand them.
Assets are boundary objects that facilitate various forms of social relations. We thus need to study their lifecycle from assetization, asset management to deassetization to understand them.
May 22, 2025 at 3:19 PM
Small 🧵 on my chapter, which combines a review of the literature on #assets with a conceptual argument:
Assets are boundary objects that facilitate various forms of social relations. We thus need to study their lifecycle from assetization, asset management to deassetization to understand them.
Assets are boundary objects that facilitate various forms of social relations. We thus need to study their lifecycle from assetization, asset management to deassetization to understand them.
