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Fund managers acting as impact investors: Strategies, practices, and tensions

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  • Federica Bandini
  • Helen Chiappini
  • Francesca Pallara

Abstract

Using a multi case‐study analysis, we shed light on the strategies, practices, and tensions of fund managers acting as impact investors. Results show that while some fund managers experience tension between the social and financial aspects of specific, although relevant, components of the business model, other fund managers experience challenges throughout the business model. The governance component emerges as the most relevant issue and this may help explain why impact washing is a key topic in the impact investing discussion. Relevant implications for practitioners and policy makers are also discussed.

Suggested Citation

  • 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.
    • Handle: RePEc:wly:corsem:v:29:y:2022:i:4:p:1084-1095
    DOI: 10.1002/csr.2255
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