Performance of Impact Investing: a Value Creation Approach

This article proposes a value creation approach to assess the performance of impact investing. It examines how impact investees, often social enterprises, generate both financial and social value, highlighting the concept of hybridity. The authors argue for a holistic understanding of performance that integrates both dimensions, moving beyond traditional financial metrics to capture the full scope of value generated by impact investments. This framework aims to provide a more comprehensive evaluation of impact investment efficacy.