Benefit of the Doubt Performance Measurement of Social Enterprises: Mission Lock-in or drift?

Bruneel, Johan; Staessens, Matthias; Cherchye, Laurens; Kerstens, Pieter Jan

doi:10.5465/ambpp.2017.13803abstract

Cited by 4 publications

(2 citation statements)

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“…The risk with hybridity (and consequently for value creation in impact investees) is the mission drift (Bruneel et al, 2017) or even the mission lock-in, that can lead to a priority to either the financial dimension, or the non-financial one, while we think that value creation comes from the synergy between these two dimensions within one sole enterprise, i.e. the impact investee.…”

Section: Risk Induced By Hybriditymentioning

confidence: 99%

Performance of impact investing: A value creation approach

Viviani¹,

Maurel

2019

Research in International Business and Finance

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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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Section: Risk Induced By Hybriditymentioning

confidence: 99%

Performance of impact investing: A value creation approach

Viviani¹,

Maurel

2019

Research in International Business and Finance

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“…For this reason, the presence of an impact manager with specific skills in social impact, rather than a specific figure reporting to the CEO or the board of directors does not appear particularly different from what any type of fund managers do. In our opinion, such challenges somehow help explain why the theme of mission-drift (Bruneel et al, 2017;Cetindamar & Ozkazanc-Pan, 2017) is still relevant in impact investing and if addressed, it may push forward a concrete cultural shift.…”

Section: Discussionmentioning

confidence: 99%

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

Bandini

Chiappini

Pallara

2022

Corp Soc Responsibility Env

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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.

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