How Impact Investing Firms Are Responding to Sustain and Grow Social Economy Enterprises in Light of the COVID-19 Pandemic

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aut.filerelease.date2024-10-24
aut.relation.articlenumbere00347en_NZ
aut.relation.journalJournal of Business Venturing Insightsen_NZ
aut.researcherIslam, Syrus
dc.contributor.authorIslam, SMen_NZ
dc.contributor.authorHabib, Aen_NZ
dc.date.accessioned2022-10-24T22:52:38Z
dc.date.available2022-10-24T22:52:38Z
dc.date.copyright2022en_NZ
dc.date.issued2022en_NZ
dc.description.abstractThe COVID-19-induced disruptions have hardest hit social economy enterprises. While impact investing is considered a promising vehicle to stimulate and grow social economy enterprises, little is known about how impact investors are actually responding to sustain and grow social economy enterprises amidst the COVID-19 pandemic. We find that impact investors sacrifice additional financial returns in pandemic-focused impact investments where they see the potential for attaining significantly higher than usual social impact by protecting hundreds of vulnerable social economy enterprises and beneficiaries amidst the pandemic. We also find that guarantees are introduced as an innovative impact investment instrument to tackle the pandemic, although they have remained heavily underutilized. Furthermore, debt instruments tend to dominate in pandemic-focused impact investments. Finally, in response to the pandemic, impact investors emphasize developing and strengthening a supportive social impact ecosystem to protect both portfolio and non-portfolio social economy enterprises and their beneficiaries. We also explain how the impact investing market has evolved during pandemic times and how it might evolve post-pandemic to support social economy enterprises.
dc.identifier.citationJournal of Business Venturing Insights, Volume 18, November 2022, e00347
dc.identifier.doi10.1016/j.jbvi.2022.e00347en_NZ
dc.identifier.issn2352-6734en_NZ
dc.identifier.urihttps://hdl.handle.net/10292/15546
dc.languageenen_NZ
dc.publisherElsevier BVen_NZ
dc.relation.urihttps://www.sciencedirect.com/science/article/pii/S2352673422000452en_NZ
dc.rightsCopyright © 2022 Elsevier Ltd. All rights reserved. This is the author’s version of a work that was accepted for publication in (see Citation). Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. The definitive version was published in (see Citation). The original publication is available at (see Publisher's Version).
dc.rights.accessrightsOpenAccessen_NZ
dc.subjectImpact investing; Social economy enterprise; COVID-19 pandemic; Impact-return trade-off; Social impact ecosystem
dc.titleHow Impact Investing Firms Are Responding to Sustain and Grow Social Economy Enterprises in Light of the COVID-19 Pandemicen_NZ
dc.typeJournal Article
pubs.elements-id481475
pubs.organisational-data/AUT
pubs.organisational-data/AUT/Faculty of Business, Economics and Law
pubs.organisational-data/AUT/Faculty of Business, Economics and Law/School of Business
pubs.organisational-data/AUT/Faculty of Business, Economics and Law/School of Business/Accounting Department
pubs.organisational-data/AUT/PBRF
pubs.organisational-data/AUT/PBRF/PBRF Business Economics and Law
pubs.organisational-data/AUT/PBRF/PBRF Business Economics and Law/Accounting Department PBRF 2018
pubs.organisational-data/AUT/PBRF/PBRF Business Economics and Law/Faculty Review Team PBRF 2018
pubs.organisational-data/AUT/zBusiness School Accreditation
pubs.organisational-data/AUT/zBusiness School Accreditation/2020
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