Islam, Syrus MHabib, Ahsan2023-08-302023-08-302023-06-21Accounting and Finance, ISSN: 0810-5391 (Print); 1467-629X (Online), Wiley. doi: 10.1111/acfi.131320810-53911467-629Xhttp://hdl.handle.net/10292/16628Using meaning-oriented content analysis, we show how impact investing firms use various reference frameworks (e.g., International Finance Corporation (IFC) Performance Standards, Impact Management Project framework, UN Sustainable Development Goals) to manage their impact performance throughout the investment lifecycle. Our study provides an industry-level picture of the various roles that different reference frameworks play to help impact investors attain their impact goals. We also discuss the potential industry effects on management accounting practice, that is, how reference frameworks used in performance management in the impact investing industry differ from those used in some other industries.Copyright © 2023 John Wiley & Sons. All rights reserved. Authors retain the right to place his/her pre-publication version of the work on a personal website or institutional repository. This article may not exactly replicate the final version published in (please see citation) as it is not a copy of this record. An electronic version of this article can be found online at: (Please see Publisher’s Version).35 Commerce, Management, Tourism and Services3507 Strategy, Management and Organisational Behaviour9 Industry, Innovation and Infrastructure1402 Applied Economics1501 Accounting, Auditing and Accountability1502 Banking, Finance and InvestmentAccounting3501 Accounting, auditing and accountability3502 Banking, finance and investment3801 Applied economicsJournal ArticleOpenAccess10.1111/acfi.13132