RT Article
T1 Value, values, and valuation: the marketization of charitable foundation impact investing
JF Journal of business ethics
VO 179
IS 4
SP 1033
OP 1052
A1 Andersen, Kirsten
A1 Tekula, Rebecca
LA English
PB Springer Science + Business Media B. V
YR 2022
UL https://ixtheo.de/Record/1816468126
AB Based on an abductive analytic study, we examine financial and social value incorporation in the multi-valued market of impact investing. This paper draws on interviews with investment professionals in 54 charitable foundations, intermediary and field building organizations in the impact investing market, to compare market objectives with practice, and to determine whether social and financial values are incorporated, thus producing ‘returns’ of both types through market exchange. We find unincorporated valuation is apparent at both the market level and for several types of investors in contrast with the incorporated or even integrated valuations of other investors. This demonstrates that rather than incorporating logics in a binary or hybrid way, valuation in the moral market of impact investing occurs in a multiplicity of ways and on different levels of the market, depending on a variety of factors including adherence to traditional financial market standards and market design and maintenance.
K1 Charitable foundations
K1 Hybrid organizations
K1 Impact investing
K1 Marketization
K1 Moral markets
K1 Organizational logics
K1 Valuation
K1 Values
K1 Aufsatz in Zeitschrift
DO 10.1007/s10551-022-05159-1