Contracts with (social) benefits: the implementation of impact investing

Abstract

contracts with (social) benefits: the implementation of impact investing finance working paper n° 674/2020 april 2021 christopher geczy university of pennsylvania jessica s. jeffers university of chicago david k. musto university of pennsylvania anne m. tucker georgia state university © christopher geczy, jessica s. jeffers, david k. musto and anne m. tucker 2021. all rights reserved. short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. this paper can be downloaded without charge from: ssrn.com/abstract_id=3159731 www.ecgi.global/content/working-papers ecgi working paper series in finance contracts with (social) benefits: the implementation of impact investing working paper n° 674/2020 april 2021 christopher geczy jessica s. jeffers david k. musto anne m. tucker we are grateful to the wharton social impact initiative, and in particular to katherine klein, nick ashburn, jacob gray, harry douglas, michael brown, wsii fellows, and participant fund general partners, for making this paper possible. we also thank shawn cole, steve kaplan, adair morse, robert vishny, ting xu, and ayako yasuda; attendees at nber entrepreneurship, perc, mfa, berkeley’s third annual corporate law symposium, pri, grasfi, the impact & sustainable finance faculty consortium, the grunin center for social impact & enterprise, berkeley impact capital managers, and wapfin; and seminar …

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