How Single-Family Offices Translate Impact Intentions to Desired Outcomes in Portfolio Companies
基于对九家单一家族办公室和八家投资组合公司的双视角定性研究，识别出四种影响力意图转化策略、三种障碍和两种促进机制，并构建了四种转化逻辑的类型学。
Single-family offices are increasingly important actors in impact investing, yet little is known about how they translate impact intentions into desired outcomes after investing. Drawing on the socioemotional wealth perspective, we conduct an abductive qualitative study based on a dual perspective of nine single-family offices and eight portfolio companies. We identify four impact intention translation strategies, three barriers, and two enabling mechanisms. Building on these findings, we develop a typology of four impact translation logics—hands-on controllers, embedded stewards, relational investors, and formalized partners—that explains heterogeneity in how family-based priorities and intentions shape impact translation.