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Minding the Store: Structured Finance and Risk Governance of ‘Third Sector’ Organisations

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  • Ben Duke

Abstract

Purpose: This conceptual theoretical review aims to inform readers of the benefits and pitfalls of structured finance, when applied to “Third Sector” organisations. Design/Methodology/Approach: A literature review of existing studies and grey literature are considered in a critical evaluation of the risk governance of structured finance arrangements. Voluntary sector observers inform us, the ‘Third Sector’ comprises of ‘…nonprofits, charities, social enterprises, social movements, and other community-based. Clearly civil society organisation (CSOs), non-governmental organisations (NGOs) and supranational organisations should also be added to the list. Findings: ‘Quality control’ and ‘Social implications’ issues surrounding the effect of structured finance agreements on ‘Third Sector’ organisations are revealed. Practical Implications: This conceptual theoretical review details the ‘Practical implications of Third Sector organisation risk governance’ with structured finance. The breadth, depth and remit of these agencies, demonstrates the societal need for risk governance for all such third sector organisations. The paper explains why those needs may differ for larger, more corporate ‘Third Sector’ organisations. Originality/Value: It has become increasingly clear that structured finance arrangements, have the ability to influence the ethos, focus and legitimacy of ‘Third Sector’ organisations. Analysis of issues to consider, when implementing risk governance strategy regarding structured finance agreements has become critical.

Suggested Citation

  • Ben Duke, 2020. "Minding the Store: Structured Finance and Risk Governance of ‘Third Sector’ Organisations," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 10(4), pages 50-67.
    • Handle: RePEc:ers:ijfirm:v:10:y:2020:i:4:p:50-67
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    References listed on IDEAS

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    1. Asenova, Darinka & Beck, Matthias, 2010. "Crucial silences: When accountability met PFI and finance capital," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 21(1), pages 1-13.
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    More about this item

    Keywords

    Risk governance; structured finance; ‘Third Sector’ organisations; social enterprises.;
    All these keywords.

    JEL classification:

    • F35 - International Economics - - International Finance - - - Foreign Aid
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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