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PDFOpen Access (License Unspecified), Open Access
Thesis
Impact Investing: Exploring a Common Language Between Stakeholders for the Advancement of the Arts & Cultural Field
Master of Science (M.S.), Drexel University
Jun 2022
DOI:
https://doi.org/10.17918/00001118
Abstract
This research aimed to explore the subjective nature of social impact and how the varying motivations and language of stakeholders influenced the type of social impact metric that should be at the forefront, whether that be continuing a separate impact assessment or a blended value approach. Research was conducted by analyzing qualitative data derived from interview transcripts of individuals in the field: Alice Antonelli of Nonprofit Finance Fund, Angelo Drei and Subject X of JP Morgan, Kelly Edwards of Arts and Crafts Holdings, Melinda Tuan of REDF, Shira Walinsky of Mural Arts, and Subject Y of Hancock-French Woods Arts Alliance. The population of interest included institutional investors, intermediaries, and cultural organizations that receive impact investing. Interview data was analyzed using a stakeholder analysis; this framework assesses the different opinions of players in the impact investment field. The study was also a comparative analysis of two types of valuation methodologies for impact investing: blended value and supplemental social value. The results show that a uniform metric across stakeholders for valuing social return would be difficult to devise because stakeholders want to see different outcomes. It is favorable that measuring social return remains mostly qualitative due to the subjective nature and to an extent bound to storytelling. The findings also include a desire expressed by stakeholders for diversity, equity, and inclusion that can be promoted by impact investing and an understanding of the importance of community. The ultimate purpose of this research was to broaden the understanding of social impact investing in the cultural field. This paper does not serve as investing advice.
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Details
- Title
- Impact Investing
- Creators
- Olivia Pearce
- Contributors
- Justin Fithian (Advisor)
- Awarding Institution
- Drexel University
- Degree Awarded
- Master of Science (M.S.)
- Publisher
- Drexel University; Philadelphia, Pennsylvania
- Number of pages
- 60 pages
- Resource Type
- Thesis
- Language
- English
- Academic Unit
- Arts Administration; Arts and Entertainment Enterprise; Drexel University; Antoinette Westphal College of Media Arts and Design
- Other Identifier
- 991018526902604721