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This paper aims to argue that the rationale for community investment in developing countries is broader and more complex than in the West, and that the usual drivers of corporate social responsibility (CSR) behaviour are less explicit and robust in these settings.

Development of descriptive theory using the results of a qualitative study of 42 firms in Fiji’s tourism industry. The primary data were derived from in-depth interviews with senior managers about their firm’s CSR values and practices. This paper focuses on one aspect of CSR practice, community investment, and provides a comparative analysis of the results from the interview data.

The paper presents evidence that shows that the rationale for engaging with and supporting local communities is more concerned with long-term sustainability than short-term profitability. The findings reveal that issues of legitimacy, interdependence and risk management are important strategic reasons for undertaking community investment.

The paper adds to theoretical understanding of the nature of CSR practices in developing countries. In particular, it reveals the importance of institutional factors in community investment decision-making and argues for an expanded theory of the business-case for CSR.

This research adds to the growing number of developing-country case studies by focusing on a region that has been largely absent from empirical CSR research.

This study aims to demonstrate how banks can align their CSR investment to community needs and citizen preferences. A grounded theory inductive approach is applied to deliver a community-centred process that banks can apply to inform CSR investment decisions.

This study employed a sequential mixed-method research design to identify areas of need from the perspective of community leaders and members through depth interviews. Following thematic analysis, citizen preferences for eight priority areas were elicited using best-worst scaling (BWS).

Clear investment preferences emerged with citizens preferring six community investment causes, namely, (1) infrastructure, (2) crisis and prevention support, (3) community groups, (4) youth facilities and activities, (5) initiatives that support the local environment, and (6) physical activity promotion. The forming of community advisory committees emerged as one approach that banks could apply to ensure long-term citizen-centred CSR investment decisions.

This study is limited to one community and one community bank and a small convenience, cross-sectional data sample.

Community-oriented financial institutions should centre investment decisions on community need and citizen preferences ensuring investments made deliver the greatest societal benefit and community support for the banks is garnered.

This paper provides important contributions to improve the effectiveness of CSR initiatives, providing an inductive, methodological approach that financial institutions can follow to better align their CSR investment to community needs and preferences.

Impact investing, a type of values-based investing that combines financial investment with philanthropic goals, is receiving heightened scholarly and practitioner attention. The geography of impact investing, however, is largely unexamined, and it is not clear why some regional impact-investing communities are more vibrant than other communities. Regional differences in entrepreneurial activities are increasingly explained by differences in the vitality of entrepreneurial ecosystems, the set of interconnected forces that promote and sustain regional entrepreneurship. The purpose of this paper is to leverage insights from entrepreneurial ecosystems studies to understand the dynamics of communities that encourage and support impact investing.

To explain inter-regional differences in the prevalence and intensity of impact investing, this conceptual paper draws from research on entrepreneurial ecosystems and impact investment to theorize about the ecosystem attributes and components that drive vibrant impact investing communities.

It is theorized that vibrant impact investing ecosystems have three system-level attributes – diversity, cohesion and coordination – that are influenced by the core components of the ecosystems, including the characteristics of investors, the presence of social impact support organizations and cultural values that promote blending logics.

The theoretical model contributes to research on impact investing and hybrid organizing, produces concrete implications for ecosystem builders and sets an agenda for future research.

The purpose of this paper is to explore the social value of information in virtual investment communities and compare its effects with objective information value. A model including information quality, social comparison, and herding orientation, and their effects on decision usefulness and member satisfaction, is proposed and tested.

An online survey with a sample of 215 members of investment communities was conducted to test the proposed model.

The opinion comparison orientation of members and information credibility are positively related to their perceived decision usefulness and satisfaction. Consistency is positively related to decision usefulness, but not to member satisfaction. Members' herding tendency moderates the effect of opinion comparison orientation on decision usefulness and the effect of ability comparison orientation on satisfaction.

The sample is small and not random. The proportion of students in the sample seems to be higher than it should be among virtual investment community members.

Investors should be careful regarding the social influences of their communities; the effects may not always be good for investment decisions.

Virtual communities provide members with social comparison information, which may yield positive effects for members in inspiration, self‐improvement, and self‐enhancement.

The virtual community can be a forum where people gain information regarding others to satisfy their needs for social comparison. Virtual communities provide special social value for their members, even for those who do not interact with others by posting in the communities.

The chapter describes the phenomenon of company–community agreements in the mining sector, situates them relative to two veins of responsible investment activity, and assesses whether they might serve as a proxy for the “community relations” expectations of responsible investors.

Based on an evaluation of two recent company–community agreements and surveying of executives from mining firms that have signed agreements with Indigenous communities, it was found that: (1) though imperfect as a proxy for many of the “community relations” expectations of responsible investors, company–community agreements offer benefits and make provisions that exceed current expectations, especially with respect to the recognition of the right of Indigenous communities to offer their free, prior, and informed consent to mine developments; and (2) mining executives recognize the utility of agreement-making with communities, and are comfortable with such efforts being interpreted as recognition of the right of Indigenous communities to consent to development.

The chapter serves to introduce responsible investors to the emergence of company–community agreements in the global mining sector, and calls upon them to advocate for their further use in order to reduce the riskiness of their investments, address social justice concerns, and assist communities to visualize and realize their goals.

For the first time, the growing phenomenon of company–community agreements in the mining sector is situated within responsible investment scholarship. Additionally, drawing on both logic and evidence, the chapter challenges the responsible investment community to rethink its approach to screening and engaging the mining sector in order to advance the interests of Indigenous communities.

The Ethiopian government is promoting large-scale agricultural investment in lowland regions of the country, claiming that the investment could improve livelihoods of the local people. The outcomes of the investment, however, have been a controversial issue in public and academic discourses. Particularly, studies that quantify the impact of such investment on the asset base of local people are extremely limited. The main purpose of this study is, therefore, to investigate the actual effect of the investment on the asset of the local people and inform policy decision.

This study employs a quasi-experimental research design and a mixed research approach. Data were collected from 342 households drawn through a systematic sampling technique and analysed by using multiple correspondence analysis and propensity score matching.

The study finds that the investment has a significant negative impact on the wealth status of affected households and deteriorated their asset base.

The results imply that inclusive and fair business models that safeguard the benefits of the investment hosting community and encourage a strong collaboration and synergy between the community and private investors are needed.

This study analyses the impact of large-scale agricultural investment on the asset of affected community based on various livelihood capital. In doing so, it significantly contributes to knowledge gap in the empirical literature. It also contributes to the ongoing academic and policy debates based on actual evidence collected from local community.

Responsible investors have been the precursor in using ESG information in investment decisions. The growing attention to ESG issues across the more traditional investment community is considered as the mainstreaming of RI. However, it is important to note that the integration of ESG information by mainstream investment companies is a fundamentally different approach than RI. While RI derives from moral and ethical concerns, the new trend of integration of ESG information by mainstream investors is business driven.

This chapter discusses how one bank, committed to social innovation and investment in low-income communities, evolved into a model of socially responsible banking and exemplary community development financial institution. The authors draw lessons from this experience and propose ways to apply those lessons to other financial institutions.

The chapter is based on an in-depth case study of ShoreBank. It includes extensive interviews with two of the bank’s cofounders, who served as the bank’s leaders for more than 37 years.

The case study has identified six key enabling factors for social innovation: (1) a social purpose that is deeply, and effectively, embedded in the organization’s mission, strategy, and operations; (2) an ownership structure to support the social mission and a structure (e.g., bank holding company) that facilitates social innovation; (3) capital capacity – that is, ability to create credit through leverage; (4) a deep level of knowledge about the business, the clientele, and the operating environment; (5) talented people who bring both skill and passion for the mission to the institution-building process; and (6) the discipline to continuously innovate, at a scale appropriate to the problem, with resources that are adequate to the challenge.

This work has several limitations including a focus on one U.S. bank holding company, and based on interviews with that bank’s cofounders.

The chapter provides a rich description of how social innovation through social investment created a meaningful social impact. Important lessons and useful recommendations are drawn for social enterprises that are committed to social innovation in the financial services industry.

The chapter provides insights into the ShoreBank case based on a unique set of data. It offers useful recommendations for social enterprises.

This paper aims to provide evidence to suggest that private social and environmental reporting (i.e. one-on-one meetings between institutional investors and investees on social and environmental issues) is beginning to merge with private financial reporting and that, as a result, integrated private reporting is emerging.

In this paper, 19 FTSE100 companies and 20 UK institutional investors were interviewed to discover trends in private integrated reporting and to gauge whether private reporting is genuinely becoming integrated. The emergence of integrated private reporting through the lens of institutional logics was interpreted. The emergence of integrated private reporting as a merging of two hitherto separate and possibly rival institutional logics was framed.

It was found that specialist socially responsible investment managers are starting to attend private financial reporting meetings, while mainstream fund managers are starting to attend private meetings on environmental, social and governance (ESG) issues. Further, senior company directors are becoming increasingly conversant with ESG issues.

The findings were interpreted as two possible scenarios: there is a genuine hybridisation occurring in the UK institutional investment such that integrated private reporting is emerging or the financial logic is absorbing and effectively neutralising the responsible investment logic.

These findings provide evidence of emergent integrated private reporting which are useful to both the corporate and institutional investment communities as they plan their engagement meetings.

No study has hitherto examined private social and environmental reporting through interview research from the perspective of emergent integrated private reporting. This is the first paper to discuss integrated reporting in the private reporting context.