Date of Award
Spring 4-9-2026
Document Type
Dissertation
Publication Status
Version of Record
Submission Date
April 2026
Department
Finance
College Granting Degree
College of Business
Department Granting Degree
Finance
Degree Name
Doctor of Philosophy (PhD)
Thesis/Dissertation Advisor [Chair]
Sofia Johan
Abstract
This dissertation examines how impact investment capital is allocated and structured, focusing on geographic targeting, investor heterogeneity, and the participation of sovereign wealth funds (SWFs). The first essay investigates the geographic determinants of impact investments, assessing whether they flow to communities with lower economic connectedness—a proxy for economic mobility. It further explores how the location and type of co-investors influence investment characteristics, investor monitoring, and exit outcomes, shedding light on how traditional and impact investors interact and shape investment outcomes. The second essay examines the role of SWFs in impact investing. It analyzes the channels through which SWFs deploy impact capital, investigating whether they invest directly in impact ventures or allocate capital through intermediary impact funds. The essay also examines how variation in SWF mandates and differences in formal and informal institutions shape impact investing strategies. These essays contribute to the growing literature on the strategic allocation of impact investments and the role of sovereign wealth funds in impact investing.
Recommended Citation
Wilkinson, Joy Namhee, "ESSAYS ON IMPACT INVESTING AND SOVEREIGN WEALTH FUNDS" (2026). Electronic Theses and Dissertations. 285.
https://digitalcommons.fau.edu/etd_general/285