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Impact Investing and Sustainable Global Value Chains : = Enabling Small and Medium Enterprises Sustainability Strategies.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Impact Investing and Sustainable Global Value Chains :/
Reminder of title:	Enabling Small and Medium Enterprises Sustainability Strategies.
Author:	Ferretti, Tommaso.
Description:	1 online resource (209 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 85-01, Section: A.
Contained By:	Dissertations Abstracts International85-01A.
Subject:	Innovations. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=30548779click for full text (PQDT)
ISBN:	9798379862107

Impact Investing and Sustainable Global Value Chains : = Enabling Small and Medium Enterprises Sustainability Strategies.
Ferretti, Tommaso.

Impact Investing and Sustainable Global Value Chains :Enabling Small and Medium Enterprises Sustainability Strategies. - 1 online resource (209 pages)

Source: Dissertations Abstracts International, Volume: 85-01, Section: A.

Thesis (Ph.D.)--McGill University (Canada), 2023.

Includes bibliographical references

Recent research on the sustainability of global value chains (GVCs) and organizational learning suggests that small and medium enterprises (SMEs) operating as suppliers pursue proactive strategies, independent of what multinational corporations (MNCs) and regulations demand in the context of their supplying relationships. However, SMEs in emerging markets (EM) confront a crucial barrier to implementing such strategies and achieving more sustainability in GVCs. They lack the financial resources to create new organizational capabilities and infrastructure for upgrading. EM SMEs' strategies require sustainable, long-term funding, which GVCs buyers and commercial banks seldom facilitate.Emergent forms of impact investing aiming at measurable sustainability outcomes and financial returns promise to address EM SMEs' lack of funding. Evidence suggests that impact investors struggle to connect to SMEs in EM. Yet, impact investing has been studied limited to dynamics in financial markets, neglecting how the investors transform capital allocations into actionable resources for SMEs. In addition, the literature of GVCs has not studied enough how suppliers' production and upgrading are financed and the role of extra-GVCs financing. My Thesis contributes to addressing those gaps by answering the research question: How does impact investing influence the sustainability of SMEs in GVCs?I apply qualitative methods to conduct two multiple inductive case studies of the interaction between international impact investors and Latin American SMEs in agro-industrial GVCs. First, I study how the proactive sustainability strategies of 66 coffee SMEs intertwine with their efforts to access loans from thirteen impact investors. I focus on how SMEs gain access to impact investments and how that influences their capacity to overcome entrenched barriers to upgrading. Second, I examine six "Financial Fairs" that a network of 23 impact investors facilitated to connect to 70 coffee and forestry SMEs. I focus on the knowledge creation dynamics that impact investors and SMEs activate to build new capabilities essential to connect the supply and demand of impact investing in GVCs.I build on my findings to develop the new construct of financial upgrading. Financial upgrading is one firm's move to a new source of financing more advantageous than the existing ones in addressing its funding needs. I identify three types of financial upgrading: process, product, and channel. Financial process upgrading, i.e., the SMEs' creation of new capabilities in the financial domain to meet impact investors' requirements, introduces unprecedented learning opportunities for SMEs in GVCs. Financial product upgrading, i.e., the SMEs' access to financing under improved and more sustainable conditions, unleashes new funding sources that catalyze proactive sustainability strategies that buyers would not support. Financial channel upgrading, i.e., the SMEs establishing higher value relationships with extra-GVCs financial actors, reconfigures the SMEs' supplying relationships.In addition, I theorize the new notion of collaborative learning.Collaborative learning refers to a highly coordinated interactive dynamic of knowledge creation at the aggregated inter-group level of impact investors and SMEs. It captures how impact investors overcome knowledge-based barriers to connect their financial innovation to the SMEs' demand for sustainable financing. Collaborative learning represents a new mechanism for creating firm-level knowledge in GVCs, which relies on establishing and nurturing a highly diverse set of local and global knowledge flows without the involvement of the MNC. I conclude by outlining financial upgrading' and collaborative learning's practical implications for policymakers, development practitioners, MNCs, and impact investors.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2023

Mode of access: World Wide Web

ISBN: 9798379862107Subjects--Topical Terms:

754112
Innovations.
Index Terms--Genre/Form:

542853
Electronic books.

Impact Investing and Sustainable Global Value Chains : = Enabling Small and Medium Enterprises Sustainability Strategies.
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520 $a Recent research on the sustainability of global value chains (GVCs) and organizational learning suggests that small and medium enterprises (SMEs) operating as suppliers pursue proactive strategies, independent of what multinational corporations (MNCs) and regulations demand in the context of their supplying relationships. However, SMEs in emerging markets (EM) confront a crucial barrier to implementing such strategies and achieving more sustainability in GVCs. They lack the financial resources to create new organizational capabilities and infrastructure for upgrading. EM SMEs' strategies require sustainable, long-term funding, which GVCs buyers and commercial banks seldom facilitate.Emergent forms of impact investing aiming at measurable sustainability outcomes and financial returns promise to address EM SMEs' lack of funding. Evidence suggests that impact investors struggle to connect to SMEs in EM. Yet, impact investing has been studied limited to dynamics in financial markets, neglecting how the investors transform capital allocations into actionable resources for SMEs. In addition, the literature of GVCs has not studied enough how suppliers' production and upgrading are financed and the role of extra-GVCs financing. My Thesis contributes to addressing those gaps by answering the research question: How does impact investing influence the sustainability of SMEs in GVCs?I apply qualitative methods to conduct two multiple inductive case studies of the interaction between international impact investors and Latin American SMEs in agro-industrial GVCs. First, I study how the proactive sustainability strategies of 66 coffee SMEs intertwine with their efforts to access loans from thirteen impact investors. I focus on how SMEs gain access to impact investments and how that influences their capacity to overcome entrenched barriers to upgrading. Second, I examine six "Financial Fairs" that a network of 23 impact investors facilitated to connect to 70 coffee and forestry SMEs. I focus on the knowledge creation dynamics that impact investors and SMEs activate to build new capabilities essential to connect the supply and demand of impact investing in GVCs.I build on my findings to develop the new construct of financial upgrading. Financial upgrading is one firm's move to a new source of financing more advantageous than the existing ones in addressing its funding needs. I identify three types of financial upgrading: process, product, and channel. Financial process upgrading, i.e., the SMEs' creation of new capabilities in the financial domain to meet impact investors' requirements, introduces unprecedented learning opportunities for SMEs in GVCs. Financial product upgrading, i.e., the SMEs' access to financing under improved and more sustainable conditions, unleashes new funding sources that catalyze proactive sustainability strategies that buyers would not support. Financial channel upgrading, i.e., the SMEs establishing higher value relationships with extra-GVCs financial actors, reconfigures the SMEs' supplying relationships.In addition, I theorize the new notion of collaborative learning.Collaborative learning refers to a highly coordinated interactive dynamic of knowledge creation at the aggregated inter-group level of impact investors and SMEs. It captures how impact investors overcome knowledge-based barriers to connect their financial innovation to the SMEs' demand for sustainable financing. Collaborative learning represents a new mechanism for creating firm-level knowledge in GVCs, which relies on establishing and nurturing a highly diverse set of local and global knowledge flows without the involvement of the MNC. I conclude by outlining financial upgrading' and collaborative learning's practical implications for policymakers, development practitioners, MNCs, and impact investors.
520 $a Des travaux de recherche recents sur la durabilite des chaines de valeur mondiales (CVM) et l'apprentissage organisationnel donnent a penser que les petites et moyennes entreprises (PME) en activite en tant que fournisseurs poursuivent des strategies proactives, independamment de ce que les multinationales et les reglementations exigent dans le contexte de leurs relations d'approvisionnement. Cependant, les PME des marches emergents doivent composer avec un obstacle crucial a la mise en oeuvre de strategies proactives et a la realisation d'une durabilite accrue dans les CVM. Elles ne disposent pas des ressources financieres necessaires pour creer de nouvelles capacites organisationnelles et infrastructures pour se moderniser. Les strategies des PME des marches emergents necessitent un financement durable et a long terme, ce que les acheteurs des CVM et les banques commerciales facilitent rarement.Des formes emergentes d'investissement d'impact visant des resultats mesurables en matiere de durabilite et de rendement financier cherchent a repondre au manque de financement des PME sur les marches emergents. Certaines donnees probantes indiquent que les investisseurs d'impact ont du mal a etablir des liens avec les PME des marches emergents. Par ailleurs, les etudes de l'investissement d'impact se sont limitees a la dynamique des marches financiers et ont neglige la maniere dont les investisseurs transforment les allocations de capitaux en ressources exploitables pour les PME. De plus, la litterature sur les CVM ne s'est pas suffisamment penchee sur la maniere dont la production et la modernisation des fournisseurs sont financees et sur le role du financement offert en dehors des CVM. Ma these contribue a combler ces lacunes en repondant a la question de recherche : comment l'investissement d'impact influence-t-il la durabilite des PME dans les CVM?J'applique des methodes qualitatives pour mener deux etudes de cas multiples inductives de l'interaction entre les investisseurs d'impact internationaux et les PME d'Amerique latine dans les CVM agro-industrielles. D'abord, j'analyse comment les strategies proactives en matiere de durabilite adoptees par 66 PME du secteur du cafe sont liees a leurs efforts pour acceder aux prets de treize investisseurs d'impact. Je centre mon analyse sur la maniere dont les PME accedent aux investissements d'impact et sur la facon dont cela influence leur capacite a surmonter les obstacles enracines qui nuisent a leur modernisation. Ensuite, j'examine six « foires financieres » qu'un reseau de 23 investisseurs d'impact a permis d'organiser pour tisser des liens avec 70 PME du secteur du cafe et de la foresterie. Je me concentre sur la dynamique de creation de connaissances que les investisseurs d'impact et les PME insufflent pour developper de nouvelles capacites essentielles permettant d'arrimer l'offre a la demande d'investissements d'impact dans les CVM.Je m'appuie sur mes resultats pour elaborer le nouveau concept de « mise a niveau financiere ». La mise a niveau financiere est le passage d'une entreprise a une nouvelle source de financement plus avantageuse que les sources actuelles pour repondre a ses besoins de financement. J'identifie trois types de mise a niveau financiere: processus, instrument et canal.
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538 $a Mode of access: World Wide Web
650 4 $a Innovations. $3 754112
650 4 $a Sustainability. $3 1029978
655 7 $a Electronic books. $2 lcsh $3 542853
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