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From Nirvana to Shiva in Impact Investing : Value (In)congruence in Investor–Investee Relationships
Vogeley, Joanna Haski-Leventhal, Debbie Lundmark, Erik
Vogeley, Joanna
Haski-Leventhal, Debbie
Lundmark, Erik
Abstract
In the rapidly emerging field of impact investing, investors and investees collaborate to generate financial returns while addressing social and environmental challenges. This article conceptualizes impact investing as a value-based activity whereby value (in)congruence shapes relationships between investors and investees. Based on Schwartz’s basic values theory and the concept of value congruence, we examine 18 investor–investee dyads and identify four types of dynamic value–(in)congruent relationships: Nirvana, Yin and Yang, Soul-Searching, and Shiva. We capture these dynamic relationship types in the proposed impact-investing value (in)congruence model, showing the complexity of value (in)congruence in such relationships, as both congruence and incongruence have positive and negative outcomes. The article provides the implications for practice and directions for further research.
Keywords
Impact investing, impact investors, social entrepreneurs, values, value congruence, value incongruence
Date
2023
Type
Journal article
Journal
Book
Volume
62
Issue
6
Page Range
1300-1334
Article Number
ACU Department
Peter Faber Business School
Faculty of Law and Business
Faculty of Law and Business
Collections
Relation URI
Event URL
Open Access Status
License
All rights reserved
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Controlled
Notes
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