Social impact measurement as a ‘public value guarantee’ in public–private partnerships? Evidence from a realist evaluation

The article speaks directly to policy-makers, local public administrations and municipalities responsible for implementing public–private partnerships (PPPs), non-profit organizations engaged in social missions, impact investors, and traditional private sector partners. It offers policy-makers and practitioners insights into how different social impact measurement (SIM) characteristics can be employed in PPPs. By examining the relational challenges that public and private actors face in collaborative efforts and the potential solutions offered by SIM practices, this research enriches the discourse on inter-sectoral collaboration theory and practice. The findings underscore the significance of aligning public and private actors to not only achieve economic efficiency but also generate substantial social impact. As PPPs continue to be instrumental in addressing grand challenges and mission-oriented policies, understanding how to incorporate SIM is imperative for sustainable and value-driven collaborations between public and private sector. By addressing these issues, the authors contribute to the ongoing dialogue on enhancing the efficacy of PPPs for mission-oriented policies.