2022
DOI: 10.1177/00076503221145004
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From Nirvana to Shiva in Impact Investing: Value (In)congruence in Investor–Investee Relationships

Abstract: In the rapidly emerging field of impact investing, investors and investees collaborate to generate financial returns while addressing social and environmental challenges. This article conceptualizes impact investing as a value-based activity whereby value (in)congruence shapes relationships between investors and investees. Based on Schwartz’s basic values theory and the concept of value congruence, we examine 18 investor–investee dyads and identify four types of dynamic value–(in)congruent relationships: Nirva… Show more

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Cited by 5 publications
(2 citation statements)
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“…Researchers have also found value congruence between founders and investors to influence the funding decisions of venture capitalists and donors (Kim et al , 2020; Vogeley et al , 2023). Research suggests that crowd investors' decisions to fund a campaign depend on how much the project aligns with their personal values and motivation (Hoegen et al , 2018; Nielsen and Binder, 2021).…”
Section: Review Of Literature and Hypotheses Developmentmentioning
confidence: 99%
“…Researchers have also found value congruence between founders and investors to influence the funding decisions of venture capitalists and donors (Kim et al , 2020; Vogeley et al , 2023). Research suggests that crowd investors' decisions to fund a campaign depend on how much the project aligns with their personal values and motivation (Hoegen et al , 2018; Nielsen and Binder, 2021).…”
Section: Review Of Literature and Hypotheses Developmentmentioning
confidence: 99%
“…We define collaboration as an inter-organisational partnership between firms seeking impact-driven objectives by accessing complementary resources through cooperation as against competition for mutual benefits. We answer the call by Gupta et al (2020) for studies that explore motivating factors for collaboration between SEs and IIs, particularly from the perspective of goal alignment towards collective social and economic impact (Vogeley et al , 2023).…”
Section: Collaboration Between Social Enterprises and Impact Investor...mentioning
confidence: 99%