Previously posted to SSRN.

Abstract

This Article surveys 177 articles published in U.S. law reviews and journals between 2018–2023 that contribute to the fields of social enterprise, social finance and impact investing. The Article extends our earlier legal literature review of the same fields from 2007-2017.Our collective 17-year review of this span of legal literature documents the legal issues examined by scholars with respect to the development of sophisticated alternative business forms, like the Delaware Public Benefit Corporation; the growth in impact investing; the enduring academic interest in corporate purpose; and the effects that developments related to ESG and corporate sustainability are having on the fields of social entrepreneurship, social finance and impact investing. The findings of this literary review can serve as a consolidated introduction point for students and practitioners new to the fields, and an inspiration for future work for those already writing and practicing in these areas. We conclude the Article with a road map for future research and steps to continue growing the fields of social entrepreneurship, social finance and impact investing.

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