Performance of impact investing: A value creation approach |
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Institution: | 1. IGR-IAE Rennes, CREM, 11 rue J. Macé, 35708 Rennes, France;2. Université de Montpellier, MRM, Espace Richter, Rue Vendémiaire, Bat B, CS 19519 34 960 Montpellier Cedex 2, France |
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Abstract: | The purpose of this article is to present an overview about the origins of value creation in impact investing and propose a measure of value creation. According to this point of view, impact investing, i.e. investing in enterprises with a both social and financial objective can be justified only if those enterprises can provide for a higher performance than with a simple portfolio diversification (separate investment in two types of activity). After an overview about the sources of value creation in impact investees as well as about a discussion on existing methods, we propose a method to measure multidimensional value creation. |
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Keywords: | Impact investee Value creation Social enterprise Impact investing Hybridity |
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