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Social impact bonds: The evolution of research and a review of the academic literature

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  • Eleonora Broccardo
  • Maria Mazzuca
  • Maria Laura Frigotto

Abstract

This study reviews all the academic contributions to research on social impact bonds (SIBs). It responds to the need for clarification across and within the various perspectives used in the literature. The goal was to assess the approaches used in extant studies and to offer directions for future studies. A bibliometric analysis was performed, and a framework was developed in which the contributions were positioned according to two criteria: (a) a distinction on the basis of research approaches and perspectives on SIBs and (b) an analysis of content according to a protocol that includes key questions corresponding with the most pressing issues in this area.

Suggested Citation

  • Eleonora Broccardo & Maria Mazzuca & Maria Laura Frigotto, 2020. "Social impact bonds: The evolution of research and a review of the academic literature," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(3), pages 1316-1332, May.
    • Handle: RePEc:wly:corsem:v:27:y:2020:i:3:p:1316-1332
    DOI: 10.1002/csr.1886
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    References listed on IDEAS

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    26. Mark V. Pauly, 2017. "Social Impact Bonds: New Product or New Package?," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 33(4), pages 718-760.
    27. Irene Bengo & Mario Calderini, 2016. "New development: Are social impact bonds (SIBs) viable in Italy? A new roadmap," Public Money & Management, Taylor & Francis Journals, vol. 36(4), pages 303-306, May.
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    2. Elisa Baraibar-Diez & Manuel Luna & María D. Odriozola & Ignacio Llorente, 2020. "Mapping Social Impact: A Bibliometric Analysis," Sustainability, MDPI, vol. 12(22), pages 1-20, November.
    3. Leonardo Becchetti & Fabio Pisani & Francesco Salustri & Lorenzo Semplici, 2022. "The frontier of social impact finance in the public sector: Theory and two case studies," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 93(4), pages 887-912, December.
    4. Fasilat Aramide Sanusi & Satirenjit Kaur Johl, 2020. "A proposed framework for assessing the influence of internal corporate social responsibility belief on employee intention to job continuity," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(6), pages 2437-2449, November.
    5. Dahbi, F. & Carrasco, I. & Petracci, B., 2024. "A systematic literature review on social impact bonds," Finance Research Letters, Elsevier, vol. 62(PA).
    6. Rosella Carè & Stella Carè & Nathalie Lévy & Rabia Fatima, 2023. "Missing finance in social impact bond research? A bibliometric overview between past and future research," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2101-2120, September.
    7. Irene Bengo & Leonardo Boni & Alessandro Sancino, 2022. "EU financial regulations and social impact measurement practices: A comprehensive framework on finance for sustainable development," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(4), pages 809-819, July.
    8. Mazzuca, Maria & Panzera, Elena & Ruberto, Sabrina, 2023. "The investor's participation in social impact bonds," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 349-363.
    9. Walker, Thomas & Goubran, Sherif & Karami, Moein & Dumont-Bergeron, Adele & Schwartz, Tyler & Vico, Kalima, 2023. "Mainstreaming social impact bonds: A critical analysis," Finance Research Letters, Elsevier, vol. 53(C).
    10. Federica Bandini & Helen Chiappini & Francesca Pallara, 2022. "Fund managers acting as impact investors: Strategies, practices, and tensions," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(4), pages 1084-1095, July.

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