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  1. Impact investing: a theory of financing social enterprises
    Published: [2020]
    Publisher:  Harvard Business School, [Boston, MA]

    I present a model of financing social enterprises to delineate the role of impact investors relative to “pure” philanthropists. I characterize the optimal scale and structure of a social enterprise when financed by grants, and when financed by... more

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    I present a model of financing social enterprises to delineate the role of impact investors relative to “pure” philanthropists. I characterize the optimal scale and structure of a social enterprise when financed by grants, and when financed by investments. The analysis yields two heuristics to guide impact investors. First, investments allow a financier to discipline inefficient spending. Second, investments may enable a social enterprise to exploit new opportunities for profit, and may increase the enterprise's scale relative to when grant financed. I quantify these heuristics for the case of Husk Power, a social enterprise that has received impact investment

     

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    Language: English
    Media type: Book
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    Series: Working paper / Harvard Business School ; 20, 078
    Harvard Business School Entrepreneurial Management Working Paper ; No. 20-078
    Subjects: Impact Investing; Social Entrepreneurship; Finance; Investment; Mathematical Methods
    Scope: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  2. A preliminary framework for product impact-weighted accounts
    Published: [2020]
    Publisher:  Harvard Business School, [Boston, MA]

    While there has been significant progress in the measurement of an organization's environmental and social impacts from their operations, metrics to evaluate the impact of products once they come to market lag far behind. In this paper we provide a... more

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    While there has been significant progress in the measurement of an organization's environmental and social impacts from their operations, metrics to evaluate the impact of products once they come to market lag far behind. In this paper we provide a framework for systematic measurement of product impact in monetary terms and delve into the rationale for the framework's seven elements. We then apply the whole framework to two competitor companies to show the feasibility of measuring product impact and the actionability of the framework. We indicate the value of impact-weighted financial statement analysis with examples of insights enabled by industry-wide product impact measurement. We see our results as a first step, rather than a definitive answer, towards more systematic measurement of product impact in monetary terms that can then be reflected in financial statements with the purpose of creating impact-weighted financial accounts

     

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    Media type: Book
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    Series: Working paper / Harvard Business School ; 20, 076
    Impact-Weighted Accounts Research Report, Harvard Business School Accounting & Management Unit Working Paper ; No. 20-076
    Subjects: Social Impact; Product Life Cycle; Environment; Sustainability; Measurement; Metrics; Impact Investing; ESG; ESG (Environmental, Social, Governance) Performance; ESG Reporting; Product; Environmental Sustainability; Measurement and Metrics; Framework; Financial Statements
    Scope: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  3. Categorical cognition and outcome efficiency in impact investing decisions
    Published: [2019]
    Publisher:  INSEAD, [Fontainebleau]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: Revised version of 2019/14/STR
    Series: Array ; 2019, 34
    Subjects: Impact Investing; Hybrid Organizations; Social Enterprise; BehavioralEconomics; Categorical Cognition
    Scope: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  4. The project on impact investments' impact investment database

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Harvard Business School ; 20, 117
    Subjects: Impact Investing; Investment; Data and Data Sets; Analysis
    Scope: 1 Online-Ressource
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    Volltext nicht verfügbar

  5. Accounting for product impact in the consumer finance industry
    Published: [2020]
    Publisher:  Harvard Business School, [Boston, MA]

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  6. Accounting for product impact in the airlines industry
    Published: [2020]
    Publisher:  Harvard Business School, [Boston, MA]

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  7. Accounting for product impact in the consumer-packaged foods industry
    Published: [2020]
    Publisher:  Harvard Business School, [Boston, MA]

    We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the consumer-packaged goods industry. We design a methodology that allows us to calculate monetary impact estimates... more

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    We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the consumer-packaged goods industry. We design a methodology that allows us to calculate monetary impact estimates on customer health, access and affordability of products and recyclability, among other factors. Our results indicate substantial differences in the impact that competitors have through their products. These differences demonstrate how impact measures reflect business strategy choices and inform decision-making on industry-specific areas, including food reformulation and product placement

     

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  8. Accounting for product impact in the oil and gas industry
    Published: [2021]
    Publisher:  Harvard Business School, [Boston, MA]

    We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the oil and gas industry. We design a monetization methodology that allows us to calculate monetary product impact... more

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    We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the oil and gas industry. We design a monetization methodology that allows us to calculate monetary product impact estimates of natural gas provision to emerging markets, energy provided, and emissions created. Our results indicate differences in the impact that competitors have through their products. These differences demonstrate how impact reflects corporate strategy and informs decision-making on industry-specific areas

     

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  9. Accounting for product impact in the pharmaceuticals industry
    Published: [2021]
    Publisher:  Harvard Business School, [Boston, MA]

    We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the pharmaceuticals industry. We design a monetization methodology that allows us to calculate monetary impact... more

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    We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the pharmaceuticals industry. We design a monetization methodology that allows us to calculate monetary impact estimates of accessible product provision and efficacy, among other factors. Our results indicate substantial differences in the impact that competitors have through their products. These differences demonstrate how impact reflects corporate strategy and informs decision-making on industry-specific areas

     

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  10. Studying the U.S.-based portfolio companies of U.S. impact investors

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Harvard Business School ; 21, 130
    Subjects: Impact Investing; Impact Portfolio Companies; Investment; Social Issues; Environmental Sustainability; Investment Portfolio; Business Ventures; Data and Data Sets; Performance; United States
    Scope: 1 Online-Ressource (circa 88 Seiten), Illustrationen
  11. Accounting for product impact in the interactive media and services industry
    Published: [2021]
    Publisher:  Harvard Business School, [Boston, MA]

    We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the interactive media and services industry. We design a monetization methodology that allows us to calculate... more

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    We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the interactive media and services industry. We design a monetization methodology that allows us to calculate monetary impact estimates for key welfare effects of social media, including addiction, depression, connectivity, and misinformation, among other effects identified in social media literature. Our results indicate substantial differences in the impact that competitors have through their products. These differences demonstrate how impact reflects corporate strategy and informs decision-making on industry-specific areas

     

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  12. Accounting for product impact in the water utilities industry
    Published: [2021]
    Publisher:  Harvard Business School, [Boston, MA]

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  13. Accounting for product impact in the telecommunications industry
    Published: [2021]
    Publisher:  Harvard Business School, [Boston, MA]

    We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the telecommunications industry. We design a monetization methodology that allows us to calculate monetary impact... more

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    We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the telecommunications industry. We design a monetization methodology that allows us to calculate monetary impact estimates of network efficiency, rural service provision, and connectivity, among other factors. Our results indicate substantial differences in the impact that competitors have through their products. These differences demonstrate how impact reflects corporate strategy and informs decision-making on industry-specific areas, including service provision geographies

     

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  14. Asset pricing and impact investing with pro-environmental preferences
    Published: [2020]
    Publisher:  Tilburg University, Tilburg

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    Source: Union catalogues
    Language: English
    Media type: Dissertation
    Format: Online
    ISBN: 9789056686345
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    Series: [Dissertation series] / [Center for Economic Research, Tilburg University] ; [nr. 633 (2020)]
    Subjects: Impact Investing; Environmental Preferences; Asset Pricing; Investing; Screening; Bond Market; Asset Returns; Cost of Capital; Market Price; Governance; Investors
    Scope: 1 Online-Ressource (circa 222 Seiten), Illustrationen
    Notes:

    Dissertation, Tilburg University, 2020

  15. The Impact of Impact Investing
    Published: 2022
    Publisher:  SSRN, [S.l.]

    The change in the cost of capital that results from a divestiture strategy can be closely approximated as a simple linear function of three parameters: (1) the fraction of socially conscious capital, (2) the fraction of targeted firms in the economy... more

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    The change in the cost of capital that results from a divestiture strategy can be closely approximated as a simple linear function of three parameters: (1) the fraction of socially conscious capital, (2) the fraction of targeted firms in the economy and (3) the return correlation between the targeted firms and the rest of the stock market. When calibrated to current data, we demonstrate that the impact on the cost of capital is too small to meaningfully affect real investment decisions. We empirically corroborate these small estimates bystudying firm changes in ESG status and are unable to detect an impact of ESG divestiture strategies on the price or cost of capital of treated firms. Our results suggest that to have impact, instead of divesting, socially conscious investors should invest and exercise their rights of control to change corporate policy

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Stanford University Graduate School of Business Research Paper
    Subjects: ESG; Impact Investing; Environmental; Social; Governance
    Scope: 1 Online-Ressource (37 p)
    Notes:

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 21, 2021 erstellt

  16. Does a VC’s Commitment Lead to Improved Investment Outcomes? Evidence From Climate Startups
    Published: 2022
    Publisher:  SSRN, [S.l.]

    We assess whether a VC’s intrinsic commitment to a startup affects investment performance. We proxy for climate change commitment using the political contributions to democrats of the lead VC person on a deal. We find investments by democrats in... more

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    We assess whether a VC’s intrinsic commitment to a startup affects investment performance. We proxy for climate change commitment using the political contributions to democrats of the lead VC person on a deal. We find investments by democrats in climate-related startups have 8% higher round-to-exit returns and 29% higher round-to-exit multiples than investments by non-democrat investors. Democrat VCs are more likely to sit on the startup’s board. Startups with democrat VCs are more likely to obtain patents following the VC investment. For identification, we use recent local climate-related natural disasters as a proxy for change in commitment by non-democrat investors. Following these disasters, the performance of non-democrats’ investments in climate-related startups becomes similar to that of democrat investors

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: UNSW Business School Research Paper
    Subjects: Venture Capital; Private Equity; Impact Investing; Climate; Political; Performance
    Other subjects: Array
    Scope: 1 Online-Ressource (54 p)
    Notes:

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 16, 2022 erstellt

  17. Sustainable investing in imperfect markets
    Published: [2023]
    Publisher:  Swiss Finance Institute, Geneva

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    Media type: Book
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    Series: Swiss Finance Institute research paper series ; no 23, 83
    Subjects: Impact Investing; ESG Investing; Sustainable Consumption; Environmental Kuznets Curve
    Scope: 1 Online-Ressource (circa 52 Seiten), Illustrationen
  18. Systemic investing to tackle the US food waste challenge
    the Fink Family and ReFED
    Published: [2023]
    Publisher:  [MIT Sloan School of Management], [Cambridge, MA]

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    Series: [MIT Sloan School reseach paper] ; [no. 6956 (23)]
    Subjects: Systemic Investing; Investing for Systems Change; Systems Capital; Food Waste; Backbone Organization; Funder Collaborative; Impact Investing; Sustainable Finance
    Scope: 1 Online-Ressource (circa 19 Seiten), Illustrationen
  19. Microfinance and the enhancement of economic development in less developed countries
    Published: 2016
    Publisher:  Universität Potsdam, Potsdam

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    Source: Union catalogues
    Contributor: Fuhrmann, Wilfried (Akademischer Betreuer)
    Language: English
    Media type: Dissertation
    Format: Online
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    RVK Categories: QC 347 ; QK 320 ; QM 353
    Subjects: Microfinance; Economic development; Kleinkredit; Mikrofinanzierung; Wirkungsanalyse; Entwicklung; Armut; Bekämpfung; Entwicklungshilfe; Kapitalhilfe; Entwicklungsfinanzierung
    Other subjects: (stw)Mikrofinanzierung; (stw)Wirkungsanalyse; (stw)Entwicklung; (stw)Armutsbekämpfung; (stw)Entwicklungshilfe; (stw)Entwicklungsfinanzierung; (stw)Vierte Welt; microfinance; microcredits; money; capital market; impact; indirect help; economic development; crisis; over-indebtment; consumption; abuse; regulation; McKinnon; less developed countries; fragmentation; financial repression; complementary effect; investment; savings; banking accounts; domestic entrepreneurs; seed-financing; disposable capital; ordo-liberal policies; mobile banking; private wealth; foundations; impact investing; Mikrofinanzierung; Mikrokredite; Geld; Kapitalmarkt; Impact; indirekte Hilfe; wirtschaftliche Entwicklung; Krise; Überschuldung; Konsum; Missbrauch; Regulierung; McKinnon; weniger entwickelte Länder; Fragmentierung; finanzielle Unterdrückung; Komplementaritätseffekt; Investitionen; Sparen; Bankkonto; lokale Unternehmer; Gründungsfinanzierung; Kapitaldisposition; ordo-liberale Politik; mobile banking; Privatvermögen; Stiftungen; Impact Investing; Graue Literatur
    Scope: Online-Ressource
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    Dissertation, Potsdam, Universität Potsdam, 2016

  20. Hybrid organizations, categorical cognition, and outcome efficiency in impact investing decisions
    Published: 2019
    Publisher:  INSEAD, [Fontainebleau]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: Revised version of 2018/32/STR
    Series: Array ; 2019, 14
    Subjects: Impact Investing; Hybrid Organizations; Social Enterprise; Behavioral Strategy; Categorical Cognition
    Scope: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  21. Outcome efficiency in impact investing decisions
    Published: 2018
    Publisher:  INSEAD, [Fontainebleau]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; 2018, 32
    Subjects: Behavioral Economics; Impact Investing; Social Enterprise; Coarse Thinking; Categorical Cognition
    Scope: 1 Online-Ressource (circa 40 Seiten), Illustrationen