IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v11y2019i10p2831-d232235.html
   My bibliography  Save this article

Social Impact Investing for Marginalized Communities in Hong Kong: Cases and Issues

Author

Listed:
  • Michael Chak Sham Wong

    (College of Business, City University of Hong Kong, Kowloon Tong, Hong Kong, China)

  • Richard Chin Yee Yap

    (College of Business, City University of Hong Kong, Kowloon Tong, Hong Kong, China)

Abstract

This paper documents three business cases of social impact investing (SII) for marginalized communities in Hong Kong. Target stakeholders of the cases include displaced old tailors, elderly and wheelchair-bound people, and single-parent families. They are all privately-owned and profit-driven entities with their own social missions. Information on the cases is collected from structured interviews and meetings with their founders and stakeholders. The paper further discusses general issues of SII in Hong Kong and possible mechanisms to support SII development. Tax exemption for investors and donors, related government subsidy schemes, certification on social impacts, and establishment of social impact funds would help SII business thrive in the future.

Suggested Citation

  • Michael Chak Sham Wong & Richard Chin Yee Yap, 2019. "Social Impact Investing for Marginalized Communities in Hong Kong: Cases and Issues," Sustainability, MDPI, vol. 11(10), pages 1-16, May.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:10:p:2831-:d:232235
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/11/10/2831/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/11/10/2831/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Joseph Galaskiewicz & Sondra N. Barringer, 2012. "Social Enterprises and Social Categories," Palgrave Macmillan Books, in: Benjamin Gidron & Yeheskel Hasenfeld (ed.), Social Enterprises, chapter 2, pages 47-70, Palgrave Macmillan.
    2. Ross Millar & Kelly Hall, 2013. "Social Return on Investment (SROI) and Performance Measurement," Public Management Review, Taylor & Francis Journals, vol. 15(6), pages 923-941, September.
    3. Helen Chiappini, 2017. "Social Impact Funds," Palgrave Studies in Impact Finance, Palgrave Macmillan, number 978-3-319-55260-6.
    4. Martin Bennett & Stefan Schaltegger & Dimitar Zvezdov, 2011. "Environmental Management Accounting," Palgrave Macmillan Books, in: Magdy G. Abdel-Kader (ed.), Review of Management Accounting Research, chapter 3, pages 53-84, Palgrave Macmillan.
    5. Hans Rawhouser & Michael Cummings & Scott L. Newbert, 2019. "Social Impact Measurement: Current Approaches and Future Directions for Social Entrepreneurship Research," Entrepreneurship Theory and Practice, , vol. 43(1), pages 82-115, January.
    6. M. Tina Dacin & Peter A. Dacin & Paul Tracey, 2011. "Social Entrepreneurship: A Critique and Future Directions," Organization Science, INFORMS, vol. 22(5), pages 1203-1213, October.
    7. Sanjeev Bhojraj & Partha Sengupta, 2003. "Effect of Corporate Governance on Bond Ratings and Yields: The Role of Institutional Investors and Outside Directors," The Journal of Business, University of Chicago Press, vol. 76(3), pages 455-476, July.
    8. Anna Höchstädter & Barbara Scheck, 2015. "What’s in a Name: An Analysis of Impact Investing Understandings by Academics and Practitioners," Journal of Business Ethics, Springer, vol. 132(2), pages 449-475, December.
    9. Bushee, BJ & Noe, CF, 2000. "Corporate disclosure practices, institutional investors, and stock return volatility," Journal of Accounting Research, Wiley Blackwell, vol. 38, pages 171-202.
    10. Smith, Michael P, 1996. "Shareholder Activism by Institutional Investors: Evidence for CalPERS," Journal of Finance, American Finance Association, vol. 51(1), pages 227-252, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Othmar Manfred Lehner & Alex Nicholls & Sarah Beatrice Kapplmüller, 2022. "Arenas of Contestation: A Senian Social Justice Perspective on the Nature of Materiality in Impact Measurement," Journal of Business Ethics, Springer, vol. 179(4), pages 971-989, September.
    2. Viviani, Jean-Laurent & Maurel, Carole, 2019. "Performance of impact investing: A value creation approach," Research in International Business and Finance, Elsevier, vol. 47(C), pages 31-39.
    3. Eunsoo Kim & Suyon Kim & Jaehong Lee, 2021. "Do Foreign Investors Affect Carbon Emission Disclosure? Evidence from South Korea," IJERPH, MDPI, vol. 18(19), pages 1-14, September.
    4. Akhigbe, Aigbe & Martin, Anna D. & Nishikawa, Takeshi, 2009. "Changes in risk of foreign firms listed in the U.S. following Sarbanes-Oxley," Journal of Multinational Financial Management, Elsevier, vol. 19(3), pages 193-205, July.
    5. Zhang, Xinde & Zhou, Simiao, 2018. "Bond covenants and institutional blockholding," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 136-152.
    6. Kirsten Andersen & Rebecca Tekula, 2022. "Value, Values, and Valuation: The Marketization of Charitable Foundation Impact Investing," Journal of Business Ethics, Springer, vol. 179(4), pages 1033-1052, September.
    7. Charles Amoyea Atogenzoya & Anna Comacchio, 2019. "Nature and Management of Social-business Tensions: A Study of Micro and Small Social Enterprises in Developing Countries," Proceedings of Business and Management Conferences 8612069, International Institute of Social and Economic Sciences.
    8. Biasin, Massimo & Cerqueti, Roy & Giacomini, Emanuela & Marinelli, Nicoletta & Quaranta, Anna Grazia & Riccetti, Luca, 2022. "Clusters of social impact firms: A complex network approach," Global Finance Journal, Elsevier, vol. 52(C).
    9. María-Celia López-Penabad & José Manuel Maside-Sanfiz & Juan Torrelles-Manent & Carmen López-Andión, 2021. "Performance Evaluation of Sheltered Workshops. Does Legal Status Matter?," Sustainability, MDPI, vol. 13(3), pages 1-18, January.
    10. Ming-Feng Hsu & Kehluh Wang, 2014. "The Level and Stability of Institutional Ownership and Firm Performance: Evidence from Taiwan," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 50(2S), pages 159-173, March.
    11. Matthias Staessens & Pieter Jan Kerstens & Johan Bruneel & Laurens Cherchye, 2019. "Data Envelopment Analysis and Social Enterprises: Analysing Performance, Strategic Orientation and Mission Drift," Journal of Business Ethics, Springer, vol. 159(2), pages 325-341, October.
    12. Jin Byungchae, 2020. "The Practical Intelligence of Social Entrepreneurs: Managing the Hybridity of Social Enterprises," Entrepreneurship Research Journal, De Gruyter, vol. 10(1), pages 1-19, January.
    13. Pascal Nguyen & Nahid Rahman, 2020. "Institutional ownership, cross‐shareholdings and corporate cash reserves in Japan," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(S1), pages 1175-1207, April.
    14. Haß, Lars Helge & Vergauwe, Skrålan & Zhang, Qiyu, 2014. "Corporate governance and the information environment: Evidence from Chinese stock markets," International Review of Financial Analysis, Elsevier, vol. 36(C), pages 106-119.
    15. Lai, Karen M.Y. & Khedmati, Mehdi & Gul, Ferdinand A. & Mount, Matthew P., 2023. "Making honest men of them: Institutional investors, financial reporting, and the appointment of female directors to all-male boards," Journal of Corporate Finance, Elsevier, vol. 78(C).
    16. Brzustewicz, Paweł & Escher, Iwona & Hatami, Akram & Hermes, Jan & Keränen, Anne & Ulkuniemi, Pauliina, 2022. "Emergence of social impact in company–NGO relationships in corporate volunteering," Journal of Business Research, Elsevier, vol. 140(C), pages 62-75.
    17. Pradeep Kumar Hota, 2023. "Tracing the Intellectual Evolution of Social Entrepreneurship Research: Past Advances, Current Trends, and Future Directions," Journal of Business Ethics, Springer, vol. 182(3), pages 637-659, January.
    18. Lo, Huai-Chun & Wu, Ruei-Shian & Kweh, Qian Long, 2017. "Do institutional investors reinforce or reduce agency problems? Earnings management and the post-IPO performance," International Review of Financial Analysis, Elsevier, vol. 52(C), pages 62-76.
    19. Huang, Kershen & Shang, Chenguang, 2019. "Leverage, debt maturity, and social capital," Journal of Corporate Finance, Elsevier, vol. 54(C), pages 26-46.
    20. Svala Gudmundsdottir & Throstur Olaf Sigurjonsson, 2024. "A Need for Standardized Approaches to Manage Sustainability Strategically," Sustainability, MDPI, vol. 16(6), pages 1-15, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:11:y:2019:i:10:p:2831-:d:232235. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.