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Building Institutional Legitimacy in Impact Investing: Strategies and Gaps in Financial Communication and Discourse

3 January 2019
Case Study
Publisher : Journal of Applied Accounting Research

16810

This paper explores how actors in the impact investing market build institutional legitimacy through financial and non-financial communication, addressing the “liability of newness” stemming from hybrid institutional logics. Using thematic discourse analysis, the study identifies diverse legitimization strategies employed based on actors’ market positioning, organizational activities, governance, and mission. It highlights discursive engagement gaps and the need for convergence in reporting to enhance market functionality.

Author(s) :

O.M. Lehner, T. Harrer, M. Quast

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Key topics

Governance & partnerships, Innovative Finance/ Blended Finance

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Purpose-driven Partnerships and Networks

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