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Coping with impact investing antagonistic objectives: A multistakeholder approach

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  • Alijani, Sharam
  • Karyotis, Catherine

Abstract

Impact investing (II) aims to achieve positive social and environmental impact and create blended value through sustainable value propositions. Building and expanding on a diverse and growing research corpus on socially responsible investing (SRI), social impact bonds (SIB) and social enterprises our study investigates the structuring elements of impact investing, its dynamics and trajectory. A particular emphasis is placed on the complex web of interactions among numerous stakeholders (i.e. banks, institutional investors, portfolio managers, public, for-profit and nonprofit organizations and social enterprises) with opposing objectives and antagonistic assets in sourcing and channeling financial resources. This paper highlights the importance of adopting a multistakeholder approach when examining the financial ecosystem within which II intermediaries operate and collaborate achieve maximum social and environmental impact.

Suggested Citation

  • Alijani, Sharam & Karyotis, Catherine, 2019. "Coping with impact investing antagonistic objectives: A multistakeholder approach," Research in International Business and Finance, Elsevier, vol. 47(C), pages 10-17.
    • Handle: RePEc:eee:riibaf:v:47:y:2019:i:c:p:10-17
    DOI: 10.1016/j.ribaf.2018.04.002
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    References listed on IDEAS

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    Cited by:

    1. Mario La Torre & Annarita Trotta & Helen Chiappini & Alessandro Rizzello, 2019. "Business Models for Sustainable Finance: The Case Study of Social Impact Bonds," Sustainability, MDPI, vol. 11(7), pages 1-23, March.
    2. Alda, Mercedes & Vicente, Ruth, 2020. "Behavioural analysis of socially responsible investment managers: specialists versus non-specialists," Research in International Business and Finance, Elsevier, vol. 54(C).
    3. Syrus M. Islam, 2022. "Impact investing in social sector organisations: a systematic review and research agenda," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 709-737, March.
    4. Francesco Rania & Annarita Trotta & Rosella Carè & Maria Cristina Migliazza & Abdellah Kabli, 2020. "Social Uncertainty Evaluation of Social Impact Bonds: A Model and Practical Application," Sustainability, MDPI, vol. 12(9), pages 1-34, May.
    5. Dahbi, F. & Carrasco, I. & Petracci, B., 2024. "A systematic literature review on social impact bonds," Finance Research Letters, Elsevier, vol. 62(PA).
    6. Adam Jabłoński & Marek Jabłoński, 2021. "Impact Investing in Digital Business Models," Energies, MDPI, vol. 14(18), pages 1-23, September.
    7. Best, Bernadette & Miller, Kristel & McAdam, Rodney & Moffett, Sandra, 2021. "Mission or margin? Using dynamic capabilities to manage tensions in social purpose organisations’ business model innovation," Journal of Business Research, Elsevier, vol. 125(C), pages 643-657.
    8. De Silva, Muthu & Al-Tabbaa, Omar & Khan, Zaheer, 2021. "Business model innovation by international social purpose organizations: The role of dynamic capabilities," Journal of Business Research, Elsevier, vol. 125(C), pages 733-749.
    9. Tongyu Meng & Jamie Newth & Christine Woods, 2022. "Ethical Sensemaking in Impact Investing: Reasons and Motives in the Chinese Renewable Energy Sector," Journal of Business Ethics, Springer, vol. 179(4), pages 1091-1117, September.
    10. Cristina Coscia & Subhash Mukerjee & Bianca Ludovica Palmieri & Chiara Quintanal Rivacoba, 2020. "Enhancing the Sustainability of Social Housing Policies through the Social Impact Approach: Innovative Perspectives form a “Paris Affordable Housing Challenge” Project in France," Sustainability, MDPI, vol. 12(23), pages 1-27, November.
    11. Muhammad Nadeem & Ernest Gyapong & Ammad Ahmed, 2020. "Board gender diversity and environmental, social, and economic value creation: Does family ownership matter?," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1268-1284, March.
    12. Rosella Carè & Stella Carè & Nathalie Lévy & Rabia Fatima, 2023. "Missing finance in social impact bond research? A bibliometric overview between past and future research," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2101-2120, September.
    13. Helen Chiappini & Gianfranco Vento & Leonardo De Palma, 2021. "The Impact of COVID-19 Lockdowns on Sustainable Indexes," Sustainability, MDPI, vol. 13(4), pages 1-18, February.

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    More about this item

    Keywords

    Socially responsible investing (SRI); Social impact bond (SIB); Social enterprise; Blended value;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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