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Impact investing: a preliminary analysis of emergent primary and secondary exchange platforms

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  • Marguerite Mendell
  • Erica Barbosa

Abstract

The purpose of this article is to present a brief synthesis of the impact investment market as it relates to barriers to the full development of this market. We examine some developments that have emerged to address these barriers. We include a brief overview of the impact investing field and the current landscape of social enterprises, the vast majority of which are non-profit organizations increasingly engaged in business activity. We address the lack of liquidity in this market and the need for secondary markets that enable investor exit. We present a preliminary summary of findings on a few exchange platforms - primary and secondary - that have emerged very recently to coordinate this market in several countries.

Suggested Citation

  • Marguerite Mendell & Erica Barbosa, 2013. "Impact investing: a preliminary analysis of emergent primary and secondary exchange platforms," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 3(2), pages 111-123, April.
    • Handle: RePEc:taf:jsustf:v:3:y:2013:i:2:p:111-123
    DOI: 10.1080/20430795.2013.776258
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    References listed on IDEAS

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    1. Antony Bugg-Levine & Jed Emerson, 2011. "Impact Investing: Transforming How We Make Money while Making a Difference," Innovations: Technology, Governance, Globalization, MIT Press, vol. 6(3), pages 9-18, July.
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    Cited by:

    1. Susan D. Phillips & Bernadette Johnson, 2021. "Inching to Impact: The Demand Side of Social Impact Investing," Journal of Business Ethics, Springer, vol. 168(3), pages 615-629, January.
    2. Maria Carolina Rezende de Carvalho Ferreira & Vinicius Amorim Sobreiro & Herbert Kimura & Flavio Luiz de Moraes Barboza, 2016. "A systematic review of literature about finance and sustainability," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 6(2), pages 112-147, April.
    3. 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.
    4. Thomas André, 2015. "Managing Societal Performance of Impact Investing: An Action Research Inquiry," Working Papers hal-01211725, HAL.
    5. 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.
    6. Thomas André, 2015. "Institutionalization Of Impact Investing Through Societal Management Pressures: An Action Research Inquiry," Working Papers hal-01180070, HAL.
    7. Icíar C. Jiménez-Barandalla & Carlos Velasco-Márquez, 2023. "Inversión sostenible y de impacto para la viabilidad financiera de la empresa social. El caso Liight," Estudios Gerenciales, Universidad Icesi, vol. 39(166), pages 67-76, March.
    8. Mario La Torre & Helen Chiappini (ed.), 2020. "Contemporary Issues in Sustainable Finance," Palgrave Studies in Impact Finance, Palgrave Macmillan, number 978-3-030-40248-8, September.
    9. Irene Bengo & Alice Borrello & Veronica Chiodo, 2021. "Preserving the Integrity of Social Impact Investing: Towards a Distinctive Implementation Strategy," Sustainability, MDPI, vol. 13(5), pages 1-19, March.
    10. Chen, Suwen & Harrison, Richard, 2020. "Beyond profit vs. purpose: Transactional-relational practices in impact investing," Journal of Business Venturing Insights, Elsevier, vol. 14(C).
    11. Federica Bandini & Helen Chiappini & Francesca Pallara, 2022. "Fund managers acting as impact investors: Strategies, practices, and tensions," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(4), pages 1084-1095, July.

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