Social Risk and Financial Returns: Evidences from Social Impact Bonds

Elisabetta Scognamiglio, Alessandro Rizzello and Helen Chiappini ()
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Elisabetta Scognamiglio: Federico II University of Naples
Alessandro Rizzello: University Magna Graecia of Catanzaro
Helen Chiappini: G. d’Annunzio University of Chieti and Pescara

Chapter 3 in Social Impact Investing Beyond the SIB, 2018, pp 47-68 from Palgrave Macmillan

Abstract: 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.

Keywords: Social impact bonds; Social impact investments; Social risk; Financial return of SIBs (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psifcp:978-3-319-78322-2_3

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DOI: 10.1007/978-3-319-78322-2_3

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