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

Vincenzo Buffa and Benjamin Le Pendeven

Chapter 5 in Recent Trends in Financial Engineering:Towards More Sustainable Social Impact, 2022, pp 95-113 from World Scientific Publishing Co. Pte. Ltd.

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.

Keywords: Innovation; Equity-Crowdfunding; Capital Structure; Credit Default Swap; Machine Learning: Green Bonds; Impact Bonds; Shareholder Engagement; ESG; Systemic Risk; Sharing Economy; Impact Accounts (search for similar items in EconPapers)
JEL-codes: C02 F3 G3 G32 (search for similar items in EconPapers)
Date: 2022
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