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Innovative Public Sustainability-Oriented Financial Mechanisms: The Case of Social Impact Bonds

In: Recent Trends in Financial Engineering Towards More Sustainable Social Impact

Author

Listed:
  • Vincenzo Buffa
  • Benjamin Le Pendeven

Abstract

Emerged around 2010, social impact bonds (SIBs) are a multi-stakeholders’ mechanism where private investors fund a social service experiment and are paid back by a public body if pre-defined social outcomes are achieved. This chapter presents a synthesis of the knowledge produced about SIBs by both academics and experts by the following: first, presenting the emergence of the SIB model in the UK and its diffusion; second, highlighting the different features of the SIB model according to rationales, goals, and risks; third, focusing on the different approaches and financial arrangements characterizing the SIB application around the world, before ending the chapter with a case study presentation focusing on the SIB development in France.

Suggested Citation

  • Vincenzo Buffa & Benjamin Le Pendeven, 2022. "Innovative Public Sustainability-Oriented Financial Mechanisms: The Case of Social Impact Bonds," World Scientific Book Chapters, in: Constantin Zopounidis & Carine Girard-Guerraud & Karima Bouaiss (ed.), Recent Trends in Financial Engineering Towards More Sustainable Social Impact, chapter 5, pages 95-113, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811260483_0005
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    Citations

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    Cited by:

    1. 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.

    More about this item

    Keywords

    Innovation; Equity-Crowdfunding; Capital Structure; Credit Default Swap; Machine Learning: Green Bonds; Impact Bonds; Shareholder Engagement; ESG; Systemic Risk; Sharing Economy; Impact Accounts;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • G3 - Financial Economics - - Corporate Finance and Governance
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • F3 - International Economics - - International Finance

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