Social Risk and Financial Returns: Evidences from Social Impact Bonds

Scognamiglio, Elisabetta; Rizzello, Alessandro; Chiappini, Helen

doi:10.1007/978-3-319-78322-2_3

Cited by 4 publications

(5 citation statements)

References 7 publications

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“…Of the five participating doula collectives, two are funded by one-time grants, one is funded by provincial grants-per-family, one is funded by a social impact bond – an investment contract ‘in which socially motivated investors – like high net worth individuals and institutional investors – provide working capital to social sector service providers, allowing them to scale up high-impact social programs’ 54 – and one is housed in a Friendship Centre, which receives operational funding from the Public Health Agency of Canada. There are limitations and regulations governing all of these funding sources, often making it difficult to sustain their birth work financially in the long term.…”

Section: Resultsmentioning

confidence: 99%

The need for sustainable funding for Indigenous doula services in Canada

Wodtke

Hayward

Nychuk

et al. 2022

Womens Health (Lond Engl)

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Objectives: To interview representatives from Indigenous doulas across Canada in order to document how they manage the logistics of providing community-based doula care and understand their challenges. These objectives inform the development of an Indigenous doula pilot programme as part of the project, ‘She Walks With Me: Supporting Urban Indigenous Expectant Mothers Through Culturally Based Doulas’. Methods: In 2020, semi-structured interviews were conducted with members of five Indigenous doula collectives across Canada. Interview transcripts were approved by participants and subsequently coded by the entire research team to identify key themes. Results: Our article explores one of the main themes that emerged from these interviews: sustainable funding for Indigenous doula services. Within this theme we identified two sub-themes: (1) limitations on and regulations for available funding and (2) negative impacts of limited funding on doula service. Conclusion: A major challenge to providing Indigenous community-based doula services is sustainable funding. Current models of funding for this work often do not provide livable wages and are bound by limited durations and regulations that are unsustainable and can be culturally inappropriate. Due to this lack of sustainable funding, Indigenous doula service in Canada faces challenges that include high staff turnover and burnout and lack of time and resources to provide culturally safe care, pursue professional development and additional training, and keep their services affordable for the families who need them. Future research is needed to ascertain potential programmes and funding streams for sustainable Indigenous doula support in Canada, including possible integration of doula care into the universal public health care system despite the jurisdictional challenges in providing health care for Indigenous peoples.

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Section: Resultsmentioning

confidence: 99%

The need for sustainable funding for Indigenous doula services in Canada

Wodtke

Hayward

Nychuk

et al. 2022

Womens Health (Lond Engl)

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“…Scognamiglio et al [5], in turn, referred to Serrano-Cinca and Gutierrez-Nieto [40], where the goodness of investment in Social Venture Capital (SVC) was evaluated through a model hierarchically structured in 3 principal factors, 26 criteria, and 160 indicators, as suggested by a small group of SVC's analysts and academics. Furthermore, the same structure of model in [5] was used in Scognamiglio et al [22] to explore the relationship between social risk and financial return within the context of SIBs.…”

Section: Methodological Approachmentioning

confidence: 99%

“…More generally, with regards to the impact investing field-of which SIBs are key components-some scholars are exploring, amongst other things, social risk [18][19][20][21][22], impact risk [23][24][25][26], social uncertainty [27,28], and their linkages and differences [27], by also using methods and approaches very different from those of traditional mainstream finance. Impact investing is considered a "revolutionary" way to improve sustainability.…”

Section: Social Impact Bonds and Social Uncertainty: Setting The Contextmentioning

confidence: 99%

“…To the best of our knowledge, only very few works, such as Scognamiglio et al [5,22], have proposed a framework able to support the evaluation of an SIB, starting from a measurement of the social uncertainty (for a discussion of these previous works see Section 3.1, in which we also explain several main alternative approaches to the impact evaluation). These works open new promising avenues for researches, useful to promote the development of SIB models, on large scale.…”

Section: Social Impact Bonds and Social Uncertainty: Setting The Contextmentioning

confidence: 99%

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Social Uncertainty Evaluation of Social Impact Bonds: A Model and Practical Application

et al. 2020

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In the last years, Social Impact Bonds (SIBs) have gained popularity in the impact investing space. A number of scholars and practitioners are debating—in theory and practice—the opportunities, challenges and obstacles of these financial models. Amongst others, social uncertainty evaluation metrics appear as a critical factor for the future development of the SIB market. The present work aims to shed some light on this issue, by realizing a practical application of a model—which is an extension of a framework previously proposed—for social uncertainty evaluation in SIBs. In our exploratory analysis, 34 SIBs were selected for the empirical tests. We combined the Analytic Hierarchical Process (AHP) with the creation of aggregate measure, deriving by suitable indicators at the end of the tree. Our findings open new avenues for future research in the field of uncertainty factors in the SIB landscape. Finally, our results represent a basis for implementing a prediction model for social uncertainty evaluation.

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“…Another risk that may affect an SIB scheme is related to the program's ability to generate a positive impact and to be correctly implemented, which several authors identify as impact risk [7,29,31]. Moreover, risks might arise from the short track record of performance (early-stage of the market) or from the absence of policy support and measurement systems (ecosystem risk) [32].…”

Section: Risks Affecting Sib Projects: An Overviewmentioning

confidence: 99%

Critical Success Factors, Motivations, and Risks in Social Impact Bonds

2020

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Social impact bonds (SIBs) have emerged as one of the most innovative financial instruments designed to support the social service sector in the delivery of innovative social programs. Despite the growing interest of academics and practitioners in SIBs, the debate appears polarized around a series of recurrent aspects, and only a limited number of studies have sought to understand the risks and motivations related to similar initiatives. Using an exploratory approach based on a mixed-method grounded theory methodology, this study analyzed the results of 12 questionnaires that asked experts about their experiences and perceptions in SIB project development and implementation. The study identified and assessed three main groups of motivations, critical success factors, and risk factors by focusing on the private-sector SIB actors with the aim of understanding their motivations and their perceived main success drivers and risk factors. This work contributes to the knowledge on the conditions for attracting private sector actors and supporting policymakers in the development of new SIB models. The findings could facilitate the development of risk management practices for the purpose of stimulating the participation of private actors in SIB initiatives.

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Social Risk and Financial Returns: Evidences from Social Impact Bonds

Cited by 4 publications

References 7 publications

The need for sustainable funding for Indigenous doula services in Canada

The need for sustainable funding for Indigenous doula services in Canada

Social Uncertainty Evaluation of Social Impact Bonds: A Model and Practical Application

Critical Success Factors, Motivations, and Risks in Social Impact Bonds

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