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| GEST3041-1 | Impact Investing
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| Durée : | 30h Th |
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| Nombre de crédits : |
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| Nom du professeur : | Virginie Xhauflair |
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| Coordinateur(s) : | N... |
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Langue(s) du cours :
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| Langue anglaise |
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Organisation et évaluation :
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| Enseignement au deuxième quadrimestre |
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Contenus du cours :
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| Impact investing is actively placing capital in enterprises that generate social or environmental goods, services, or ancillary benefits such as creating good jobs, with expected financial returns ranging from the highly concessionary to above market. In other words, impact investments are investments made into businesses, nonprofits and funds with the intention to generate positive and measurable social and/or environmental impact, alongside financial return for part of these investments.
Impact investing is part of the "new philanthropy" trend, also labeled as "venture philanthropy" and displays a broad spectrum of investment practices, depending on the expected impacts and return, and on the types and needs of potential investee organizations. It has become a hot topic in the social enterprise field, as it is now considered as an appropriate lever to foster and scale up organizations targeting a social aim. Its popularity is also linked to the potential for impact investing to cause a paradigm shift in philanthropic action: targeting investment capital as a complementary resource for achieving the social and environmental changes typically pursued by philanthropic organizations.
The course will present the impact investing practices, and locate these new investment tools in the broader context of the transformation of philanthropic action, and of the growth of the social entrepreneurship field.
Classes will include presentation of theoretical elements brought by both teacher and students. Cases will be discussed, and students will have the opportunity to meet impact investors and their beneficiaries. Based on this acquired knowledge, the relevance, ethics and efficiency of impact investing for social enterprises will be debated. We will also focus on one of the main features and challenges for impact investing: the social impact measurement. We will discuss assumptions underlying impact measurement, analyze and compare social impact measurement tools, and design customized social impact analysis grids for local social entrepreneurship projects. |
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Acquis d'apprentissage (objectifs d'apprentissage) du cours :
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| In coherence with the Intended Learning Outcomes of the Master in Management program and more particularly of its specialization in "Social Enterprise Management", the course will enable students to:
- Understand what is impact investing concept and give examples of impact investing practices (and related concepts such as social investment, venture philanthropy)
- Analyse the impact investing processes presented in case studies and/or by impact investors or investees
- Based on case studies and testimonials, assess and discuss the investment model underlying a social enterprise project (check consistency between objectives and financial means; between stakeholders' expectations; discuss inconsistencies between objectives and allocated financial means/chosen investment instruments)
- Understand the social impact measurement and give examples
- Assess and compare existing social measurement tools
- Design a social measurement analysis grid in reference to a local social enterprise project
This course contributes to the following Intended Learning Outcomes :
ILO-2 : Gaining the knowledge and understanding of one of the proposed fields of concentration or to gain deep knowledge in the field of the management being already specialized thru a first University Master Degree .
ILO-4 : To acquire the capacity to research autonomously and methodically the information needed to solve a complex, transversal management problem,
ILO-5 : Integrate autonomously researched information, tools, knowledge and context to build and propose, either individually or as part of a team, original, creative and viable solutions to concrete complex management problems, whether real or simulated, taking into account, when necessary, the human, social and legal context.
ILO-6 : Ability to speak 2 foreign languages: C1 in English and B2 in one other language.
ILO-9 : Developing a critical sense (arguing)
ILO-10 : Developing a transversal, global vision
ILO-11 : Creative conception of solutions
ILO-12 : Professional capacity for oral communication
ILO-13 : Professional capacity for written communication
ILO-14: Faced with a management problem, suggesting solutions that are ethical and socially responsible and that respect the principles of good governance. |
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Prérequis et corequis / Modules de cours optionnels recommandés :
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| Recommended, but not compulsory:
Before or simultaneously: Financing Social Enterprise (GEST-3037, Prof. Sybille Mertens) |
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Activités d'apprentissage prévues et méthodes d'enseignement :
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| Classes will include
- Theoretical and conceptual presentations by the teacher, using powerpoint slides
- Empirical illustrations, brought by the teacher, and/or by an invited speaker (impact investor, investee, expert, etc.)
- Presentation by groups of students to highlight and discuss particular concepts or practices related to the class content
- Open-discussions linking theoretical contributions and field-related data
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Mode d'enseignement (présentiel ; enseignement à distance) :
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| This course is delivered face-to-face fully in English and requires active participation of all the students. |
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Lectures recommandées ou obligatoires et notes de cours :
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Modalités d'évaluation et critères :
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| Evaluation will be based on:
- The involvement of each student during each class (25%)
- Regular individual assignments (20%)
- One group assignment (15%)
- A final individual written essay and oral presentation based on an impact investing case (40%)
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Stage(s) :
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Remarques organisationnelles :
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| The course is taught during the 2nd Quadrimester, each Friday from 9 to 12 am, in the N1 building (Rue Louvrex).
Classes will start on Februry 6th 2015. |
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Contacts :
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| Virginie Xhauflair, v.xhauflair@ulg.ac.be |
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