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    Impact Entrepreneurship: Reimagining Entrepreneurial Purpose and Research for Driving Societal Impact
    (Springer Science and Business Media LLC, 2025-09-18)
    Amyn Vogel
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    Monica Nadegger
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    Barbara Wolf
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    Jelena Spanjol
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    Ali Aslan Gümüşay
    As societies increasingly face societal and ecological grand challenges, entrepreneurs are urged to contribute to socially and ecologically sustainable futures—that is, engage in impact entrepreneurship. An impact-oriented approach strives for entrepreneurial ventures to not only generate profit but also drive positive societal change, maintaining and protecting existing beneficial conditions, or reducing ongoing societal and ecological harms. The notion of impact in entrepreneurship therefore emphasizes the critical need to understand and evaluate business activities beyond financial outcomes, considering their broader social, ecological, and economic effects. Understanding and advancing the meaning and implications of impact entrepreneurship is crucial, since it requires rethinking the role of entrepreneurs in society—positioning them as agents of systemic change who align profit with considerations and actions of broader social and ecological purpose. This curated discussion develops two key avenues to advance scholarship on and practice of impact entrepreneurship. First, shifting from profit to impact in entrepreneurship requires rethinking value creation, moving beyond market opportunities to addressing societal and ecological grand challenges. This shift involves embracing complexity, developing new approaches to impact measurement, fostering impact-oriented education, and scaling beyond economic growth in entrepreneurial ecosystems. Second, the role of research and researchers is redefined in this context. Contributing to impact entrepreneurship demands both methodological rigor and active engagement. Researchers must not only evaluate impact but also participate in shaping inclusive, collaborative practices, and translating knowledge into action. Together, the essays in this curated discussion highlight how entrepreneurship research, education, and ecosystems can evolve to support a more equitable, sustainable future through purpose-driven innovation.
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    Scopus© Citations 1
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    Die ESG-Wesentlichkeitsmatrix: Wie ist die Korrelation der Achsen zu interpretieren?
    Die ESG-Wesentlichkeitsmatrix bleibt ein wichtiges Werkzeug für Schweizer Unternehmen, um die Ergebnisse ihrer Wesentlichkeitsanalysen darzustellen. Ein Vergleich der Berichterstattung zeigt, dass die Matrizen unterschiedliche Muster in den Achsenkorrelationen aufweisen. Dieser Artikel liefert praktische Ansätze zur Analyse und Interpretation dieser Korrelationen.
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    A Critical Examination of Corporate Environmental and Social Impact Measurement and Valuation
    (2025-04-15) ;
    Ali Aslan Gümüşay
    ;
    Laura Marie Edinger-Schons
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    Amyn Vogel
    ;
    Alnoor Ebrahim
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    Scopus© Citations 13
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    Monetary impact valuation for sustainable business
    (2025-09-18)
    Laura Marie Edinger-Schons
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    Ali Aslan Gümüsay
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    Florian Berg
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    Marya Besharov
    Businesses increasingly experiment with monetary impact valuation to assess their sustainability impacts, raising both promise and concern. We propose a scientific approach — grounded in eight principles — to ensure valuation serves sustainability rather than distorts it.
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    Scopus© Citations 2
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    Principles for impact investments: practical guidance for impact measurement, assessment and valuation
    (Springer Science and Business Media LLC, 2025-04-18)
    Timo Busch
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    Eric Pruessner
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    Hendrik Brosche
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    Christina Bannier
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    Young-Jin Choi
    Impact investments have gained tremendous recognition among investors as well as policy makers in the last years. However, specific details about impact investments are not well understood yet. Specifically, academic research about the magnitude, life cycle, and tradeoffs of impact is still in its infancy. This paper provides practical guidance by developing principles for critical topics of impact measurement, assessment, and valuation using an exploratory approach. Questions that will be tackled include, among others: What is a significant positive company impact (impact magnitude)? Can impacts be transferred between investors (impact life cycle)? How should tradeoffs between impact categories be handled (impact tradeoffs)? The paper proposes 16 principles that provide answers to these and other questions, illustrates their real-world significance through case studies, and provides a discussion of their implications and limitations. It is, however, only one step and much more work is required to standardize the measurement, assessment, and valuation of impact in impact investments. Overall, this paper suggests important steps for this standardization process.
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    Scopus© Citations 3
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    Self-Regulation for Reputation-Sensitive Buyers: SA8000 in China
    (2024-11)
    Gregory Distelhorst
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    Duanyi Yang
    Industries and firms have diverse motives for adopting self-regulatory institutions. This research develops and tests propositions about one motive—exploiting opportunities to do business with reputation-sensitive buyers—as distinct from self-regulation to defend against regulatory or activist threats. To study the adoption and effects of self-regulation for reputation-sensitive buyers, we study the SA8000 socially responsible employment certification among large firms in China in the early 2000s. Using official longitudinal industrial microdata, we test hypotheses generated by this assumed motive for self-regulation and find that: (a) despite concerns about the corruptibility of certification bodies, SA8000-adopters in China exhibited higher pre-certification worker wages than comparable non-adopters, (b) self-regulation led to increased employment and sales to foreign markets, where reputation-sensitive buyers are concentrated, (c) the positive effect on exports was greater than the (insignificant, negatively signed) effect on domestic sales, and (d) there is no evidence that self-regulation increased worker wages beyond the initial high start. Contrasting these findings with prior research on industry self-regulation for other motives, this study highlights how both adoption patterns and downstream effects differ according to the audience for self-regulation.
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    Through the looking glass: tying performance and materiality to corporate purpose
    (2022) ;
    Soonawalla, Kazbi
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    Metzner, Marcel
    <jats:p>By making use of the purpose definition set out by the British Academy�s Future of the Corporation programme we argue that performance relates to purpose in two dimensions. Firstly, purpose sets the frame of long-term success and defines materiality for an organisation both from a single and from a double materiality perspective. Secondly, performance in relation to purpose needs to measure profitability net of negative externalities. We review and discuss the current landscape of non-financial reporting and measurement frameworks on how they lend themselves to the determination of materiality on the one hand and to the accounting of externalities on the other hand, in order to achieve an approximation of performance in relation to purpose. We conclude by discussing how materiality and measurement viewed through a purpose-lens could help an advanced understanding of performance in practice for sustainable finance, corporate governance and management decision-making.</jats:p>
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    Through the looking glass: tying performance and materiality to corporate purpose
    (British Academy, 2022-08) ;
    Soonawalla, Kazbi
    ;
    Metzner, Marcel
    By making use of the purpose definition set out by the British Academy’s Future of the Corporation programme we argue that performance relates to purpose in two dimensions. Firstly, purpose sets the frame of long-term success and defines materiality for an organisation both from a single and from a double materiality perspective. Secondly, performance in relation to purpose needs to measure profitability net of negative externalities. We review and discuss the current landscape of non-financial reporting and measurement frameworks on how they lend themselves to the determination of materiality on the one hand and to the accounting of externalities on the other hand, in order to achieve an approximation of performance in relation to purpose. We conclude by discussing how materiality and measurement viewed through a purpose-lens could help an advanced understanding of performance in practice for sustainable finance, corporate governance and management decision-making.
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    Measuring Purpose: An Integrated Framework
    (2021)
    Clara Barby
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    Richard Barker
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    Ronald Cohen
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    Robert G. Eccles
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    Christian Heller
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    The Board’s Role in Sustainability
    (Harvard Business Review, 2020)
    Eccles, Robert G.
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    Johnstone-Louis, Mary
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    Mayer, Colin
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