Reconciling financial and social performance through heterogeneous business models: an empirical study of impact-oriented investors

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dc.contributor.authorSERGIO GIOVANETTI LAZZARINI
dc.contributor.authorSANDRO CABRAL
dc.contributor.authorPongeluppe, Leandro Simões
dc.contributor.authorFerreira, Luciana Carvalho de Mesquita
dc.contributor.authorRotondaro, Angélica
dc.coverage.paisNão Informadopt_BR
dc.creatorPongeluppe, Leandro Simões
dc.creatorFerreira, Luciana Carvalho de Mesquita
dc.creatorRotondaro, Angélica
dc.date.accessioned2024-01-29T14:36:56Z
dc.date.available2024-01-29T14:36:56Z
dc.date.issued2017
dc.description.notesProdução vinculada ao Insper Metricis do Centro de Gestão e Políticas Públicas.pt_BR
dc.description.otherAlthough past research has improved our knowledge of whether firms can profit from socially-oriented strategies, scholars have called for more investigation on the mechanisms in which this link can occur. Building on the literature on business models in strategic management, we discuss how heterogeneous bundles of complementary, self-reinforcing choices can attenuate the tensions arising from the joint pursuit of financial and social goals. We benefit from the emergence of so-called “impact investors,” who have actively pursued enterprises combining these goals, to gather qualitative data and inductively propose four key dimensions varying across models: the marketability of the social activity, investor motivation, contractual incentives, and impact measurement. Distinct combinations of these dimensions then lead to three alternative models: selection of marketable socially-oriented activities, attraction of investors with tamed profit-based motivation, and impact internalization through outcome-based contractual incentives. We contribute to the literature by explicitly incorporating business model heterogeneity as a mediating factor linking social orientation and profitability, and expand the analysis of business models in the context of socially-oriented businesses. In addition, we provide a more refined characterization of investors as key stakeholders, whose adoption of distinct models can help support, instead of derail, the social orientation of enterprises.pt_BR
dc.format.extent49 p.pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/6385
dc.language.isoInglêspt_BR
dc.rights.licenseTODOS OS DOCUMENTOS DESTA COLEÇÃO PODEM SER ACESSADOS, MANTENDO-SE OS DIREITOS DOS AUTORES PELA CITAÇÃO DA ORIGEMpt_BR
dc.subject.keywordsSocial enterprisespt_BR
dc.subject.keywordsBusiness modelspt_BR
dc.subject.keywordsimpact investingpt_BR
dc.subject.keywordssocial performancept_BR
dc.subject.keywordsshared valuept_BR
dc.titleReconciling financial and social performance through heterogeneous business models: an empirical study of impact-oriented investorspt_BR
dc.typeworking paper
dspace.entity.typePublication
local.identifier.sourceUrihttps://www.insper.edu.br/wp-content/uploads/2018/10/Reconciling-Financial-Social-Performance-Through-Heterogeneous-Business-Models.pdf
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeWorking Paperpt_BR
relation.isAuthorOfPublication4ee022f9-7466-405d-ae1a-6b1e33f611e8
relation.isAuthorOfPublication76c81ecd-5a8e-48de-9d12-b62cebc2e626
relation.isAuthorOfPublication.latestForDiscovery4ee022f9-7466-405d-ae1a-6b1e33f611e8

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