Social Impact Investments (SII) intentionally generate social impact and financial return. Portfolio diversification is one of the under-investigated areas in SII literature. The aim of this paper is to fill this gap by conducting a preliminary investigation of social impact firms (SIF) contribution to portfolio risk and performance. For the purpose of this paper, we use a sample of SIF members of the London Social Stock Exchange who are publically listed and two contrast samples with traditional firms (non-SIF). To carry out the analysis, we employed methodology based on Markowitz (1952a, 1952b) and Sharpe (1963). The paper may provide useful insights for asset managers and investors involved in portfolio choice evaluation and policy makers interested in fostering development of the social impact market.

Do Impact Investments Contribute to Portfolio Performance? A Preliminary Investigation

Chiappini H.
;
2017

Abstract

Social Impact Investments (SII) intentionally generate social impact and financial return. Portfolio diversification is one of the under-investigated areas in SII literature. The aim of this paper is to fill this gap by conducting a preliminary investigation of social impact firms (SIF) contribution to portfolio risk and performance. For the purpose of this paper, we use a sample of SIF members of the London Social Stock Exchange who are publically listed and two contrast samples with traditional firms (non-SIF). To carry out the analysis, we employed methodology based on Markowitz (1952a, 1952b) and Sharpe (1963). The paper may provide useful insights for asset managers and investors involved in portfolio choice evaluation and policy makers interested in fostering development of the social impact market.
File in questo prodotto:
File Dimensione Formato  
La Torre_Chiappini_Mango_2017.pdf

accesso aperto

Descrizione: articolo principale
Tipologia: PDF editoriale
Dimensione 1.1 MB
Formato Adobe PDF
1.1 MB Adobe PDF Visualizza/Apri

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11564/726956
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus ND
  • ???jsp.display-item.citation.isi??? ND
social impact