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The Influence of Social Impact Bonds on Public–Private Partnership Success: The Case of Higher Education

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  • Hanna Kociemska
  • Boguslaw Poltorak

Abstract

Purpose: How can public–private partnerships (PPPs) financed by social impact bonds (SIBs) achieve measurable indicators of social success within a short time? We undertake this research to find simple, reliable indicators of social success resulting from PPPs. Design/Methodology/Approach: We statistically analyze data from all SIB-financed projects worldwide in the areas of education and training, using a logistic mixed effect model. In addition, we use an alternative approach to analyze the predictors of outcome success within homelessness projects, as they offered the most complete set of information. Findings: We prove that the vast majority of problems associated with issuing SIBs globally relate to the measurable quantification of positive social impacts. Practical Implications: We propose a public policy for financing higher education with SIBs where appropriate, wherein countable results are achieved as soon as the cooperation starts and each stakeholder gains. Originality/Value: Our proposed solution ensures a trade-off between profitability and immediate social effect among all partners.

Suggested Citation

  • Hanna Kociemska & Boguslaw Poltorak, 2021. "The Influence of Social Impact Bonds on Public–Private Partnership Success: The Case of Higher Education," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 423-438.
    • Handle: RePEc:ers:journl:v:xxiv:y:2021:i:3:p:423-438
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    References listed on IDEAS

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    More about this item

    Keywords

    Social impact bonds (SIBs); public–private partnership (PPP); higher education; success circumstances; public policy.;
    All these keywords.

    JEL classification:

    • J58 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Public Policy
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H0 - Public Economics - - General
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

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