Performance of impact investing: A value creation approach

Jean-Laurent Viviani () and Carole Maurel ()
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Carole Maurel: MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier

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Abstract: The purpose of this article is to present an overview about the origins of value creation in impact investing and propose a measure of value creation. According to this point of view, impact investing, i.e. investing in enterprises with a both social and financial objective can be justified only if those enterprises can provide for a higher performance than with a simple portfolio diversification (separate investment in two types of activity). After an overview about the sources of value creation in impact investees as well as about a discussion on existing methods, we propose a method to measure multidimensional value creation.

Keywords: Impact investee; Value creation; Social enterprise; Impact investing; Hybridity (search for similar items in EconPapers)
Date: 2019-01
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01717992v1
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Citations: View citations in EconPapers (13)

Published in Research in International Business and Finance, 2019, 47, pp.31-39. ⟨10.1016/j.ribaf.2018.01.001⟩

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Journal Article: Performance of impact investing: A value creation approach (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01717992

DOI: 10.1016/j.ribaf.2018.01.001

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