Impact Investing: Review and Research Agenda

This systematic review of 85 published articles on impact investing traces the field's evolution from a pre-paradigm stage to scientific inquiry. It identifies six unique characteristics of impact investing (capital, engagement, selection, outcomes, reporting, government role) and notes a recent shift towards confirmatory studies. The article emphasizes the need for deeper exploration into concepts like selection processes, stakeholder management, opportunity recognition, and performance reporting to advance applied knowledge in this emerging asset class.