• Case Study

Performance of Impact Investing: a Value Creation Approach

  • Source : Research in International Business and Finance
  • January 2019
This article proposes a value creation approach to assess the performance of impact investing. It examines how impact investees, often social enterprises, generate both financial and social value, highlighting the concept of hybridity. The authors argue for a holistic understanding of performance that integrates both dimensions, moving beyond traditional financial metrics to capture the full scope of value generated by impact investments. This framework aims to provide a more comprehensive evaluation of impact investment efficacy.
  • Case Study

The Structuring of Social Finance

  • Source : Journal of Cleaner Production
  • January 2017
This paper explores the emerging approaches to structuring social finance for environmentally and socially impactful projects, conceptualizing social finance as a pre-paradigmatic field. It discusses how leading social finance institutions adopt different investment rationalities to achieve positive social impact. The analysis highlights two primary forms, social impact investment and ethical banking, which drive the institutionalisation and paradigm-building process. It also examines how these forms differ in business models while aiming for social impact.
  • Case Study

Socially Responsible/impact Investing: Theoretical and Empirical Issues

  • Source : Capitalism and Society
  • January 2016
This paper delves into socially responsible investing (SRI) and impact investing, exploring their theoretical underpinnings and empirical issues. It examines how these investment approaches aim to generate both financial returns and positive social or environmental outcomes. The authors discuss various instruments like Social Impact Bonds (SIBs) and the concept of blended finance, highlighting the complexities and challenges in integrating social goals with financial objectives within capital markets. The research provides insights into balancing profit and social benefit in investment decisions.
  • Case Study

A Literature Review About the Landscape of Social Finance

  • Source : ACRN Journal of Finance and Risk Perspectives
  • December 2014
This academic paper reviews the design and impact of Social Impact Bonds (SIBs) in public service delivery, exploring their potential for Latin America. It covers transaction costs, policy drivers, and public-private models, highlighting how SIBs work under different institutional contexts. It also proposes design recommendations for better uptake and provides a global perspective on SIB development, emphasizing their role in redistributing risk and benefits for greater social impact.
  • Case Study

Of Principle and Principal: Value Plurality in the Market of Impact Investing

  • Source : Valuation Studies 3(1)
  • January 2015
This article examines the concept of “value plurality” within the market of impact investing, where both financial and social/environmental values are pursued. Drawing from valuation studies, it explores how market proponents navigate and define these complex value dimensions. The paper frames impact investing as a case of market design, illustrating how a valuation infrastructure is constructed to make social and environmental value calculable for investors without necessarily assigning it a financial equivalent.
  • Case Study

Narratives of Promise, Narratives of Caution: a Review of the Literature on Social Impact Bonds

  • Source : Wiley Online Library
  • January 2016
This article reviews the emerging literature on Social Impact Bonds (SIBs) in high-income settings, identifying three narratives: public sector reform, financial sector reform, and a cautionary perspective. It analyses these narratives against themes of public versus private values, outcomes contracting, and risk allocation. While the first two narratives present SIBs as “win-win” solutions, the cautionary narrative highlights potential risks. The article concludes that empirical evidence on active SIBs is limited and more research is needed to fully understand their benefits and drawbacks.
  • Case Study

Social Outcomes Contracts & System Strengthening: a Conceptual Framework

  • Source : Social Finance Inc
  • January 2022
This document from Social Finance Inc. outlines a conceptual framework for social outcomes contracts and their role in system strengthening. While the provided text focuses on a broader “social taxonomy” and due-diligence duties within a sustainable finance legislative framework, the original intention of the user’s input points to social outcomes contracts. It touches upon objectives like access to social products and services, and how the social taxonomy links criteria to activities for a significant contribution, potentially going beyond current due-diligence initiatives.
  • Case Study

Towards a Global Framework for Impact Investing

  • Source : Academy of Economics and Finance Journal
  • January 2016
This article proposes the development of a global framework for impact investing, emphasizing the critical need for standardized approaches to measuring and reporting impact. It highlights the challenges posed by diverse methodologies and the absence of a common language for defining impact, which hinders performance comparisons and aggregation across funds and organizations. The authors advocate for a unifying framework to enhance transparency, accountability, and the overall effectiveness of impact investing.
  • Case Study

Many a Slip: the Challenge of Impact as Boundary Object in Social Finance

  • Source : Social Finance, Impact Investing, and the Financialisation of the Public Interest
  • January 2020
This chapter explores the concept of “impact” as a boundary object within social finance, particularly in impact investing. It examines how impact, despite its central role, often presents challenges due to varying interpretations and measurement approaches across different stakeholders. The author discusses “judgement devices” and “boundary work” to understand how this ambiguous concept is managed and negotiated among diverse actors in the United States’ social finance ecosystem, often leading to complexities in achieving shared understanding and accountability.
  • Academic / Journal Article

Examining the Promise and Challenges of Blended Finance for Social Impact

  • Source : ET Insights
  • September 2023
This academic article from ET Insights critically examines the potential and obstacles of blended finance in achieving social impact, with a particular focus on India. It likely analyses how blended finance models can effectively mobilise capital for development while also exploring inherent challenges such as complexity, transaction costs, and appropriate risk-sharing. The authors probably discuss policy implications and the necessary ecosystem conditions for blended finance to truly scale and deliver meaningful social outcomes in the Indian context. The paper aims to offer a balanced perspective on its role in addressing pressing societal issues.
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