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Available open access digitally under CC-BY-NC-ND licence.
A new trend in ethical finance, impact investing aims to generate positive social or environmental impacts alongside financial returns. But what does it really mean and how is it practiced across different regions and organizations?
This volume explores the malleability of impact investing and how it overlaps with the development sphere to give finance a new role. From global networks to the Global South, it compares diverse investing practices and discourses.
Providing an original perspective on this emerging field, this is a key resource for the scholars of social studies of finance, economic sociology, management and organization studies.
‘As claims made for finance’s role to contribute to public goods continue to grow, this collection of detailed case studies critically interrogates the ‘impact investing’ label, affording nuanced insights into this contradictory and still-emerging field.' Marc Andrew Brightman, University of Bologna
Philip Balsiger is Professor of Economic Sociology at the University of Neuchatel, Switzerland.
Daniel Burnier Lecturer at the University of Neuchâtel, Switzerland.
Noé Kabouche is a postdoctoral researcher in Sociology at the Ecole Normale Supérieure, France.
1. Introduction: Labelling and Enacting Impact Investing across Contexts - Philip Balsiger, Daniel Burnier and Noé Kabouche
Part 1: Translating the Impact Label into National and Transnational Contexts
2. Impact Investing and Philanthropy in the Global South: Innovative Finance at the Aga Khan Development Network - Farwa Sial and Jessica Sklair
3. Socio-genesis of the Impact Investing World in France - Eve Chiapello and Camille Roth
4. Capitalizing on Capitalism: How Impact Investing in Geneva Emerged among the Traditional Financial Field - Noé Kabouche
5. Impact Investing and the Politics of Leverage: Towards a Meso-level Perspective on Derisking - Philipp Golka
6. Social Impact Investing in Italy: A Case of Weak Financialization of Welfare? - Davide Caselli
7. Balancing Risks and Outcomes in Colombia’s First Social Impact Bond: Empleando Futuro - Natalia Gómez Muñoz
Part 2: Enacting Impact in Investment Practices
8. Implementing ‘Impact’ in Rural Ghana: Negotiating Meanings and Shifting Interpretations - Claudia Campisano
9. Relational Work and Power in an Emerging Market: Local Understandings of Impact Investing in Nigeria - Elena Christodoulou and Shonali Banerjee
10. The Impact of Ignorance: Sustaining Impact Investing’s Fictional Expectations - Daniel Burnier
11. Conclusion: Towards a Theorization of Varieties of Impact Investing - Emily Barman