CDAR
Loading Events

« All Events

  • This event has passed.

Adair Morse, Haas School of Business: A Popularity Asset Pricing Model

February 14 @ 11:00 am - 12:30 pm

We study investments in impact funds, defined as venture capital or growth equity funds with dual objectives of generating financial returns and positive externalities. Being an impact fund elevates a fund’s marginal investment rate by 14.1% relative to a traditional VC fund, even more for funds focused on environmental, poverty, and minority/women issues. Europeans and UNPRI signatories have sharply higher demand for impact. Three investor attributes – household-backed capital, mission-oriented investors, and investors facing political/regulatory pressure to invest in impact – account for the higher impact demand. In contrast, legal restrictions against impact (e.g., ERISA) hinder 25% of total demand.

Read the paper this talk is based on: Impact-Investing-170117-12font



Details

Date:
February 14
Time:
11:00 am - 12:30 pm
Event Category:

Venue

639 Evans Hall at UC Berkeley