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Performance of impact investing: A value creation approach

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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https://halshs.archives-ouvertes.fr/halshs-01717992
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Submitted on : Tuesday, February 27, 2018 - 8:36:35 AM
Last modification on : Thursday, May 19, 2022 - 4:04:01 PM
Long-term archiving on: : Monday, May 28, 2018 - 7:43:02 PM

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Jean-Laurent Viviani, Carole Maurel. Performance of impact investing: A value creation approach. Research in International Business and Finance, Elsevier, 2019, 47, pp.31-39. ⟨10.1016/j.ribaf.2018.01.001⟩. ⟨halshs-01717992⟩

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