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Impact Investing and the Fostering of Entrepreneurship in Disadvantaged Urban Areas: Evidence from Microdata in French Banlieues

Author

Listed:
  • Romain Boulongne
  • Rodolphe Durand

    (HEC Paris - Ecole des Hautes Etudes Commerciales)

  • Caroline Flammer

Abstract

We examine whether impact investing is more effective in fostering business venture success and social impact when directed toward ventures located in vs. outside disadvantaged urban areas (i.e., areas with high crime, unemployment, and poverty). We explore this question in the context of loans made to business ventures located in French "banlieues" vs. "non-banlieues". We find that loans issued to banlieue ventures, compared to non-banlieue ventures, yield greater improvements in financial performance, as well as greater social impact in terms of the creation of local employment opportunities, quality jobs, and jobs for minorities — all of which contribute to the social inclusion of marginalized communities and the development of sustainable cities.

Suggested Citation

  • Romain Boulongne & Rodolphe Durand & Caroline Flammer, 2020. "Impact Investing and the Fostering of Entrepreneurship in Disadvantaged Urban Areas: Evidence from Microdata in French Banlieues," Working Papers hal-03031917, HAL.
    • Handle: RePEc:hal:wpaper:hal-03031917
    as

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