Crowdfunding social ventures: Who will reward (or punish) hybridity?

Zineb Aouni, Marek Hudon, Anaïs A Périlleux and Tyler Wry

No 24-004, Working Papers CEB from ULB -- Universite Libre de Bruxelles

Abstract: Unlike traditional investing, where decisions follow a clear financial calculus, it is unclear how and why funders support hybrid ventures. To address this question, we analyze the varied priority that investors place on social impact versus financial returns and draw on categories theory to argue that different priority orderings associate with different perceptions of how hybridity aligns with different investment goals. Results show that funders who prioritize financial goals react positively when they perceive a venture exhibits greater hybridity, while funders who prioritize social impact do not. Our findings contribute to research on impact investing, hybrid organizations, and categories theory.

Keywords: ESG; investment funds; social banks; Sustainable Finance Disclosure Regulation (SFDR); greenwashing; transparency (search for similar items in EconPapers)
Date: 2024-02-22
New Economics Papers: this item is included in nep-ban, nep-env and nep-pay
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