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Social uncertainty evaluation in Social Impact Bonds: Review and framework

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  • Scognamiglio, Elisabetta
  • Di Lorenzo, Emilia
  • Sibillo, Marilena
  • Trotta, Annarita

Abstract

This paper aims at implementing a framework able to support the evaluation of an Social Impact Bond (SIB), integrating a financial evaluation with a social evaluation and starting from a measurement of the social uncertainty linked to an SIB programme. Following a literature review that identifies several different facets related to the definitions of social uncertainty, a quantitative scoring system to conceptualize social uncertainty in SIBs was developed using the Serrano-Cinca methodology. The first results encourage further research and propose suggestions and implications for scholars and practitioners

Suggested Citation

  • Scognamiglio, Elisabetta & Di Lorenzo, Emilia & Sibillo, Marilena & Trotta, Annarita, 2019. "Social uncertainty evaluation in Social Impact Bonds: Review and framework," Research in International Business and Finance, Elsevier, vol. 47(C), pages 40-56.
    • Handle: RePEc:eee:riibaf:v:47:y:2019:i:c:p:40-56
    DOI: 10.1016/j.ribaf.2018.05.001
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    Cited by:

    1. Rosella Carè & Francesco Rania & Riccardo De Lisa, 2020. "Critical Success Factors, Motivations, and Risks in Social Impact Bonds," Sustainability, MDPI, vol. 12(18), pages 1-17, September.
    2. Benjamin S. Thompson, 2023. "Impact investing in biodiversity conservation with bonds: An analysis of financial and environmental risk," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 353-368, January.
    3. Francesco Rania & Annarita Trotta & Rosella Carè & Maria Cristina Migliazza & Abdellah Kabli, 2020. "Social Uncertainty Evaluation of Social Impact Bonds: A Model and Practical Application," Sustainability, MDPI, vol. 12(9), pages 1-34, May.
    4. Eleonora Broccardo & Maria Mazzuca & Maria Laura Frigotto, 2020. "Social impact bonds: The evolution of research and a review of the academic literature," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(3), pages 1316-1332, May.
    5. Mariano Méndez-Suárez & Abel Monfort & Fernando Gallardo, 2020. "Sustainable Banking: New Forms of Investing under the Umbrella of the 2030 Agenda," Sustainability, MDPI, vol. 12(5), pages 1-13, March.
    6. Federica Bandini & Helen Chiappini & Francesca Pallara, 2022. "Fund managers acting as impact investors: Strategies, practices, and tensions," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(4), pages 1084-1095, July.
    7. Alessandro Rizzello & Abdellah Kabli, 2020. "Sustainable Financial Partnerships for the SDGs: The Case of Social Impact Bonds," Sustainability, MDPI, vol. 12(13), pages 1-22, July.
    8. Rosella Carè & Stella Carè & Nathalie Lévy & Rabia Fatima, 2023. "Missing finance in social impact bond research? A bibliometric overview between past and future research," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2101-2120, September.
    9. Julie RIJPENS & Marie J. BOUCHARD & Emilien GRUET & Gabriel SALATHÉ-BEAULIEU, 2020. "Social Impact Bonds: Promises versus facts. What does the recent scientific literature tell us?," CIRIEC Working Papers 2015, CIRIEC - Université de Liège.

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    More about this item

    Keywords

    Social risk; Social impact; Investment; Social impact; Bond; Impact evaluation;
    All these keywords.

    JEL classification:

    • G00 - Financial Economics - - General - - - General

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