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Impact investing pursues the dual goals of creating socio-economic value for the marginalized, and ensuring net positive financial returns. Impact investing firms achieve their goals through their investments in projects and enterprises which create both social and commercial values. The primary aim of this article is to contribute to our understanding of the process of impact investing, particularly with respect to issues related to aligning impact investing and investee social enterprise goals. The research method employs case-based research methodology. The data consist of six cases of impact investing and their investee social enterprises. In addition, the data involve interviews with experts from the field of impact investing. The findings are that: (1) Social mission plays an important moderating role in the inter-organizational relationship between the impact investor and the investee social enterprise, (2) and an emphasis on due diligence, sector specialization, and communication increases the likelihood of investment while (3) social impact measurement and reporting and frequent engagement increase the likelihood of post-investment alignment. The key contribution of this article is that impact investing (unlike venture capital) is influenced by the ability of its investee to create social value, which plays an important role in the inter-organizational relationship between investor and investee. Furthermore, similar to industry specialization in the for-profit investing, social sector specialization is equally relevant for alignment and returns.
Anirudh Agrawal; Kai Hockerts. Impact Investing Strategy: Managing Conflicts between Impact Investor and Investee Social Enterprise. Sustainability 2019, 11, 4117 .
AMA StyleAnirudh Agrawal, Kai Hockerts. Impact Investing Strategy: Managing Conflicts between Impact Investor and Investee Social Enterprise. Sustainability. 2019; 11 (15):4117.
Chicago/Turabian StyleAnirudh Agrawal; Kai Hockerts. 2019. "Impact Investing Strategy: Managing Conflicts between Impact Investor and Investee Social Enterprise." Sustainability 11, no. 15: 4117.
This paper posits that social entrepreneurship education can increase the propensity of students to launch social enterprises through a process of experiential learning in which students co-create shared communities of practice. Data from 175 participants in Master level elective courses indicates that participation in social entrepreneurship courses increases self-efficacy, perceived social support and social entrepreneurial intentions. No statistically significant effects were found for empathy or moral obligation. In addition, drawing on a sample of 265 participants in a massive open online course, it was demonstrated that the more students engage in experiential learning activities, the larger the observed effects.
Kai Hockerts. The Effect of Experiential Social Entrepreneurship Education on Intention Formation in Students. Journal of Social Entrepreneurship 2018, 9, 234 -256.
AMA StyleKai Hockerts. The Effect of Experiential Social Entrepreneurship Education on Intention Formation in Students. Journal of Social Entrepreneurship. 2018; 9 (3):234-256.
Chicago/Turabian StyleKai Hockerts. 2018. "The Effect of Experiential Social Entrepreneurship Education on Intention Formation in Students." Journal of Social Entrepreneurship 9, no. 3: 234-256.