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2018 | OriginalPaper | Buchkapitel

3. Social Risk and Financial Returns: Evidences from Social Impact Bonds

verfasst von : Elisabetta Scognamiglio, Alessandro Rizzello, Helen Chiappini

Erschienen in: Social Impact Investing Beyond the SIB

Verlag: Springer International Publishing

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Abstract

This chapter provides an empirical insight into factors characterizing social risk of social impact bonds (SIBs) and explores the correlation between social risk and financial return. In order to achieve this research aim, the methodology is organized in three different steps: (1) step one includes the implementation of a scoring model for SIB social risk; (2) step two involves data collection and the measurement of social risk scoring components; and (3) the last step tests for a correlation between social risk and financial returns of SIBs. The sample is composed of 34 SIBs that share information publically. Empirical findings show that most SIBs have a medium score of social risk, while social risk and financial return are not significantly correlated.

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Fußnoten
1
The academia is not unanimous also under the use of definitions. For instance, sometimes the term impact risk is used interchangeably to identity social risk like in Brandstetter and Lehner (2014).
 
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Metadaten
Titel
Social Risk and Financial Returns: Evidences from Social Impact Bonds
verfasst von
Elisabetta Scognamiglio
Alessandro Rizzello
Helen Chiappini
Copyright-Jahr
2018
DOI
https://doi.org/10.1007/978-3-319-78322-2_3