Social impact bonds in the UK homeless sector: perspectives of front-line link workers

Göen, Thomas; Rogers, Jim; Roberts, Amanda

doi:10.1108/hcs-08-2020-0011

Cited by 5 publications

(4 citation statements)

References 21 publications

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“…Regarding the 14 included academic articles, most were published in 2018 and 2019 (7/14), reflecting the emerging nature of this field ( Cox, 2011 ; Cooper et al, 2013 ; Cooper et al, 2016 ; Carrillo, 2017 ; Andreu, 2018 ; Edmiston and Nicholls, 2018 ; Finn et al, 2018 ; Ramsay and Tan, 2018 ; Wang et al, 2018 ; Scognamiglio et al, 2019 ; Vallesi et al, 2019 ; George et al, 2020 ; Painter and Culhane, 2021 ; Wirth, 2021 ). The articles were authored in the United States (4/14), the United Kingdom (3/14), Australia (2/14), Italy (1/14), Ireland (1/14), Switzerland (1/14), and China (1/14).…”

Section: Resultsmentioning

confidence: 99%

“…The study is conducted in Australia and findings may not generalize to other nations ( Vallesi et al, 2019 ). George et al (2020) focus on the views of link workers in a SIB funded project which works with rough sleepers in the East of England. The study concludes that if SIBs are effective solutions to deeply ingrained social problems, there needs to be more careful evaluation of their true benefits in comparison to publicly funded projects.…”

Section: Introductionmentioning

confidence: 99%

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Evidence-Based Analysis of Social Impact Bonds for Homelessness: A Scoping Review

Wang

2022

Front. Psychol.

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Social impact bonds (SIBs) have emerged as an innovative financial instrument designed to support the social service sector in delivering innovative social programs. In particular, SIBs can be used to finance prevention of homelessness among those regarded as vulnerable. There is little evidence that outcomes from SIB-funded programs are significantly different compared to more traditional programs. This is the first scoping review of academic and gray literature that explores the main features and outcomes from all SIBs for homelessness based on evidence, addressing an important gap in the literature. The scoping review provides a transparent and comprehensive approach for mapping areas of this research. A total of 73 studies and articles were found eligible for inclusion. These concerned 32 SIBs for homelessness implemented in the United Kingdom, the United States, Australia, and Belgium. The review found that academic papers on SIBs for homelessness lack evidence-based analysis, while gray literature lacks transparency, especially in evaluation method and outcome. We found that fourteen projects met their target outcomes. The common features of these SIBs were a navigator intervention model, effective partnership working, and use of Special Purpose Vehicles. Our findings show that it is necessary for the managers of SIBs to improve outcome metrics and evaluation methods, support target groups fairly, and attract more private investors to finance SIBs for better addressing homelessness.

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Section: Resultsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Evidence-Based Analysis of Social Impact Bonds for Homelessness: A Scoping Review

Wang

2022

Front. Psychol.

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“…The literature mostly points to the lack of buy-in among public organizations as a barrier. Reasons relate to a lack of project ownership, low openness to change, clashes with values or practices among front-line workers and increased workloads Robinson, 2018;Dimitrijevska-Markoski et al, 2021;Kennedy, 2022;FitzGerald et al, 2021;Fraser et al, 2021;Gadenne et al, 2020;George et al, 2020). In the Mayday Inspire SIB, a large restructuring of the commissioner organization challenged their commitment to the SIB project (Robinson, 2018).…”

Section: Stakeholder Engagementmentioning

confidence: 99%

Barriers to social impact bond implementation: a review of evidence from the UK and US

Andersen

2023

IJPSM

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PurposeThis study investigates barriers to social impact bond (SIB) implementation through a review of academic and gray literature. A SIB is a type of public policy instrument that leverages payment for performance (P4P), contracting together with private investments in the delivery of welfare programs. Outcome-based contracts, such as SIBs, are gaining attraction for public service providers in developed countries, but research regarding their implementation remains underexplored both empirically and theoretically.Design/methodology/approachA literature review is conducted in which two types of documents are included: (1) empirical research papers and (2) evaluations of completed SIB projects. In total, 43 documents have been investigated. The study engages in a comparative design where insights across sectors (healthcare, social care and employment/education), are leveraged. The insights rest on evidence from the UK and US.FindingsThe investigation reveals five types of barriers to SIB implementation related to: (1) the SIB model, (2) organizational competencies, (3) data infrastructure, (4) stakeholder engagement and (5) the institutional context. The study discusses ways of managing these barriers and develops a conceptual framework for empirically investigating SIB implementation.Originality/valueThis study is the first academic paper to systematically assess insights regarding the implementation of SIBs. Also, the article proposes a conceptual framework for investigating SIB implementation.

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“…9. SIBs have been developed in several countries, including Australia (Broom, 2021), Canada, the Netherlands (Smeets, 2017), the UK (e.g. George et al , 2020), the USA (e.g. Heinrich and Kabourek, 2019), while in other areas, such as Italy (Bengo and Calderini, 2016), development has been hindered.…”

Section: Notesmentioning

confidence: 99%

Past, present and future of impact investing and closely related financial vehicles: a literature review

Chiappini,

Marinelli,

Jalal

et al. 2023

SAMPJ

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Purpose The purpose of this study is to analyze the intersection of research on impact investing and its closely related financial vehicles. Design/methodology/approach The paper explores 196 articles collected from Scopus and Web of Science using bibliometric and content analysis methodologies. Findings Despite a growing academic interest in impact investing, scholars generally investigate impact investing as a social phenomenon, using the specific financial mechanism of social impact bonds. This perspective potentially deflates the complex nature of impact investing, which actually combines both social and financial targets and uses a plurality of financial vehicles to reach its goals. Practical implications The emerging themes identified will provide both academics and practitioners additional tools to further the debate on impact investing and the understanding of its potential and limits according to the different financial forms it takes. This review should pave the way for a discussion about the boundaries of the social impact sector itself. Social implications Despite the strong international commitment toward impact investing, tensions still exist. A comprehensive overview on the relevant aspects not yet thoroughly investigated will foster the growth of impact investments. Originality/value To the best of the authors’ knowledge, this is the first holistic overview of impact investing, that jointly examines both literature on impact investing and literature on the correlated financial products used in the industry. The result is a comprehensive report of what is known about impact investing in its different financial forms, opening up new pathways for future studies.

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Social impact bonds in the UK homeless sector: perspectives of front-line link workers

Cited by 5 publications

References 21 publications

Evidence-Based Analysis of Social Impact Bonds for Homelessness: A Scoping Review

Evidence-Based Analysis of Social Impact Bonds for Homelessness: A Scoping Review

Barriers to social impact bond implementation: a review of evidence from the UK and US

Past, present and future of impact investing and closely related financial vehicles: a literature review

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