IE Business School, Spain
Summary: Ford, Estee Lauder, Hyatt. What do these names have in common? For starters, they are behind some of the largest family firms in the world. But not only. They are also associated with a revolution in finance and are at the head of a new set of practices: investing for return and impact. But why are prominent business families engaging on this path? And what are the behavioral mechanisms leading to it? In our research, we find that individuals in business families use impact investing to build their own identity by either building on, reshaping, or deconstructing their family’s legacy.