Impact Risk Management in Impact Investing: How Impact Investing Organizations Adopt Control Mechanisms to Manage Their Impact Risk

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aut.relation.journalJournal of Management Accounting Researchen_NZ
aut.researcherIslam, Syrus
dc.contributor.authorIslam, SMen_NZ
dc.date.accessioned2022-11-02T02:31:24Z
dc.date.available2022-11-02T02:31:24Z
dc.description.abstractIn impact investing, impact risk encompasses the probability that investment projects may fail to achieve the expected positive impact (i.e., positive impact risk) and/or may have a negative impact (i.e., negative impact risk). Using an inductive research approach, this study examines how impact investing organizations adopt control mechanisms to manage impact risk. It finds that impact investors adopt a wide range of input, behavior, and output control mechanisms to manage impact risk that may arise from investee-level, investor-level, and system-level operations. Also, to manage impact risk, investors establish control mechanisms to influence relevant actors not only within a firm’s boundary but also outside its boundary. Given the inherent complexity and ambiguity in managing impact risk in impact investing, control mechanisms appear to rely heavily on judgment and experience and adhere more to the “satisficing” principle. Furthermore, investors tend to focus more on managing positive impact risk than negative impact risk.en_NZ
dc.identifier.citationJournal of Management Accounting Research 2022; doi: https://doi.org/10.2308/JMAR-2021-041
dc.identifier.doi10.2308/jmar-2021-041en_NZ
dc.identifier.issn1049-2127en_NZ
dc.identifier.issn1558-8033en_NZ
dc.identifier.urihttps://hdl.handle.net/10292/15587
dc.languageenen_NZ
dc.publisherAmerican Accounting Associationen_NZ
dc.relation.urihttps://meridian.allenpress.com/jmar/article-abstract/doi/10.2308/JMAR-2021-041/487813/Impact-risk-management-in-impact-investing-Howen_NZ
dc.rights© 1998 - 2022 by American Accounting Association. Authors can archive a copy of their article in their institution’s database. Many institutions, domestic and international, are now requiring their scholars to archive their work in their institution’s repository. This is not a permission issue, per se, because they do not intend to publish or distribute the work. If the repository is fully open access, those librarians are usually aware of publisher requirements regarding how to properly archive the article (full citation with DOI link), and in some cases, there may be embargoes (period of time in which the work cannot be posted).
dc.rights.accessrightsOpenAccessen_NZ
dc.subjectImpact risk management; Impact investing; Impact investor; Positive impact risk; Negative impact risk; Risk control mechanism; Investment project; Nonfinancial risk; Management control system
dc.titleImpact Risk Management in Impact Investing: How Impact Investing Organizations Adopt Control Mechanisms to Manage Their Impact Risken_NZ
dc.typeJournal Article
pubs.elements-id481995
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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