From Nirvana to Shiva in Impact Investing: Value (In)congruence in Investor–Investee Relationships
研究了影响力投资中投资者与被投资方之间的价值（不）一致关系，基于施瓦茨基本价值理论，识别出四种动态关系类型，并提出了价值（不）一致模型。
In the rapidly emerging field of impact investing, investors and investees collaborate to generate financial returns while addressing social and environmental challenges. This article conceptualizes impact investing as a value-based activity whereby value (in)congruence shapes relationships between investors and investees. Based on Schwartz’s basic values theory and the concept of value congruence, we examine 18 investor–investee dyads and identify four types of dynamic value–(in)congruent relationships: Nirvana, Yin and Yang, Soul-Searching, and Shiva. We capture these dynamic relationship types in the proposed impact-investing value (in)congruence model, showing the complexity of value (in)congruence in such relationships, as both congruence and incongruence have positive and negative outcomes. The article provides the implications for practice and directions for further research.