Title: Impact investment effects on sustainable development in BRICS countries

Authors: Zhanna S. Belyaeva

Addresses: Graduate School of Economics and Management, Ural Federal University, Mira Str. 19, Office i410a, Yekaterinburg 620002, Russian Federation

Abstract: Over the past 30 years, concepts of social and impact investments have evolved, however a little has been published in respect to measure it in so called BRICS emerging economies. Impact investments underlie a wide 'continuum of influence' that comes from philanthropy to sustainable investments that are being pursued by corporations looking to achieve integrative financial and social impact effects. The qualitative approach to impact investments is expanding every year, and the BRICS countries are also increasing their share in the total impact investments market. The paper outlines methodology for assessing the level of impact investment in the BRICS countries. The dataset is collected from listed BRICS companies' annual reports within five years. Econometric analysis conducted in the paper allowed estimating sustainable development effects and its positive correlation with prosperity of BRICS countries. The novel outline provided prospects for regulating impact investments in the BRICS countries.

Keywords: impact-investment; CSR; BRICS countries; profitability; financial results; ROA.

DOI: 10.1504/GBER.2021.10042261

Global Business and Economics Review, 2021 Vol.25 No.3/4, pp.368 - 382

Received: 15 Jun 2020
Accepted: 15 Jun 2021
Published online: 03 Nov 2021 *

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