- 學位論文
影響力或投資?論臺灣社會影響力投資的脈絡與實踐
Impact or Investment? On the Context and Practice of Social Impact Investment in Taiwan
摘要
本研究主要探討影響力投資的脈絡與實踐，文獻指出 2013 至 2017 年的已開發與開發中國家，特別是非洲、東南亞、拉丁美洲國家的影響力有顯著增加。影響力投資旨在追求財務報酬的同時創造明確且可衡量的影響，從在地化的企業社會責任到全球化的永續發展，影響力投資與 ESG 投資又有哪些異同?此外，作為一種創新的投資策略，其社會價值與財務回收又該如何取捨?前述問題意識引發本研究的主要動機，檢視企業在經濟、環境與社會責任如何兼容並蓄以實現永續發展。 本研究首先針對相關文獻進行次級資料分析，藉以梳理發展脈絡;其次透過質性研究以了解實務狀況;最後，透視臺灣的生態體系，分析臺灣影響力投資的趨勢與困境。 研究結果顯示，2014 社企元年是推動投入影響力投資的關鍵，其次，影響力投資追求雙底線的同時也產生雙風險。另，鑑於雙底線的實踐，投資人進入市場佈局時，謹慎考量組織社會使命、商業模式、行業選擇及團隊特性。此外，研究發現臺灣歷史背景與全球永續意識的交叉影響，投資側重教育發展、永續環境、長照醫療;而困境方面發現當前臺灣生態系統尚未建築完善，多數影響力企業缺乏商業力，部分對於投資與捐贈仍模糊不清。本研究根據前述結論，針對生態系統內的角色提出相關建議。
並列摘要
This study mainly discusses the context and practice of impact investment, and the literature shows that from 2013 to 2017, the influence of developed and developing countries, especially in Africa, Southeast Asia, and Latin America, has increased significantly. Impact investing aims to create clear and measurable impacts while pursuing financial returns. From localized corporate social responsibility to globalized sustainable development, what are the similarities and differences between impact investing and ESG ? In addition, as an innovative investment strategy, how to choose between its social value and financial recovery? Awareness of the above issues triggered the main motivation for this study, examining how enterprises can be integrated in economic, environmental, and social responsibility to achieve sustainable development. This study first analyzes the relevant literature to sort out the development context, then understands the practical situation through qualitative research, and finally analyzes the trend and dilemma of Taiwan's impact investment through perspective on Taiwan's ecosystem. The results of the study show that the first year of Taiwan's social enterprises in 2014 is the key to promoting investment in impact investment, and secondly, the pursuit of double bottom line of impact investment also produces double risks. In addition, in view of the practice of double bottom lines, investors carefully consider the organization's social mission, business model, industry selection and team characteristics when entering the market layout. In addition, the study found the cross-influence of Taiwan's historical background and global awareness of sustainability. Investments focused on education development, sustainable environment, and long-term care. In terms of difficulties, it was found that the current Taiwanese ecosystem is not well-established, and most influential enterprises lack business strategies. Some funders remain ambiguous about investments and donations. Based on the above conclusions, this study makes recommendations for roles within the ecosystem.
參考文獻
延伸閱讀
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