Impact Investment as a New Investment Class

11 Pages Posted: 27 Jul 2015

See all articles by Michał Falkowski

Michał Falkowski

Excelian Limited

Piotr Wiśniewski

Warsaw School of Economics - Corporate Finance Unit, Institute of Finance, College of Management and Finance

Date Written: July 1, 2013

Abstract

Impact investment has emerged as a socially aware response to contemporary socioeconomic challenges. The combined pursuit of investment efficiency with proactive furtherance of socially beneficial goals appears particularly relevant in an era of recurring risk aversion, capital volatility and stringency in public funding. This study sums up the early evidence of impact investment: its origins, philosophy, taxonomy and evolution. The key research dilemma addressed herein boils down to whether impact investment will transpire as a distinctive class of institutional financial management. The social arguments for its expansion are undisputable, however, to succeed in the long term impact investment will have to enhance its internal organisation and classification, improve reporting transparency and ensure lasting commitments from governments, international organisations and private contributors.

Keywords: institutional, socially responsible, alternative investment, social impact

JEL Classification: G23, G24, M14, G11, G14

Suggested Citation

Falkowski, Michał and Wiśniewski, Piotr, Impact Investment as a New Investment Class (July 1, 2013). Available at SSRN: https://ssrn.com/abstract=2606844 or http://dx.doi.org/10.2139/ssrn.2606844

Michał Falkowski

Excelian Limited ( email )

44 Featherstone Street
London, EC1Y 8RN
United Kingdom

Piotr Wiśniewski (Contact Author)

Warsaw School of Economics - Corporate Finance Unit, Institute of Finance, College of Management and Finance ( email )

Madalinskiego 6/8
PL-Warsaw, 02-513
Poland

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