scholarly journals Evaluation of the integration between corporate and financial performance: The social impact bond financial instrument

2018 ◽  
Vol 15 (3) ◽  
pp. 138-144
Author(s):  
Danilo Tuccillo ◽  
Caterina Ferrone ◽  
Francesco Agliata
Keyword(s):  
Interest Rate ◽  
Financial Performance ◽  
Financial Management ◽  
Social Impact ◽  
Cash Flows ◽  
Social Enterprises ◽  
Financial Return ◽  
Financial Instrument ◽  
The Social ◽  
The Impact

The social impact bond (SIB), at the present in Italy, is a financial instrument issued by a bank to support social initiatives in which the subscriber will receive a limited financial return on investment. As part of that performance, the social return for the community is considered as an integration of the financial performance that will replace a part of the interest rate. The first experience in Italy is represented by a bank that has issued 45 Social Bond for 472 million euros. The research analyses, on the basis of the character-ristics of the third sector in Italy, with particular reference to the financial weakness of the sector, the possible impact on the financial management process in the social enterprises by the use of SIB. Moreover, we would demonstrate that, with a well-conducted cost-benefit analysis, it is possible to construct a hypothesis of SIB in which the repayment is based on market rate. In particular, is proposed the development of a SIB with the objective of formulating hypotheses of response to the innovative following questions: Given certain cost drivers, what social outcomes would generate savings for the state budget able to fully repay the fixed costs of the SIB, to give a percentage of the benefit to the government and to ensure the repayment to investors? How to identify the timing of cash flows in order to structure a potential internal rate of return objective satisfactory for investors? Due to the lack of already developed case studies, with the technics of the business plan, we analyse the impact of SIB on social and financial performance, both from the point of view of the Public Administration and of the social enterprise, in a project of social housing introducing a remuneration rate at market level. The development of the project shows that, with the integration of the private and public perspective, it is possible to improve the social and financial performance offering an adequate interest rate and, moreover, without limit the hypothesis of SIB underwriting to the philanthropic institution.

scholarly journals The impact of social reporting on the performance of Italian social enterprises

2013 ◽  
Vol 10 (3) ◽  
pp. 294-301 ◽  
Author(s):  
Matteo Pozzoli ◽  
Alberto Romolini
Keyword(s):  
Financial Performance ◽  
Social Impact ◽  
Third Sector ◽  
Social Enterprises ◽  
Social Reporting ◽  
Italian Law ◽  
The Social ◽  
Effect Relation ◽  
The Impact

The Third Sector is a crucial social and economic system at an international level in supplying pub-lic services. The Italian law no 155/2006 and the consequent operating decrees have formally rec-ognised the social entrepreneurship, requiring social enterprises (SEs), among other things, to provide specific disclosure in relation to the social impact of their operations. This paper aims to in-vestigate whether there is a relation between the “quality” of SEs’ social reporting and financial per-formance. In relation to this, the research has examined the SEs instituted as limited liabilities companies. The research contributes to the development of this field of studies, concluding that there is no cause-effect relation neither in the hypothesis that the quality of social reports affects the financial performance, neither in the hypothesis that financial performance affects the quality of so-cial reports.

scholarly journals Efficiency in Social Enterprises

2017 ◽  
Vol 4 (2) ◽  
pp. 61
Author(s):  
José Carlos Ballester-Miquel ◽  
Pilar Perez-Ruiz ◽  
Javier Hernandez-Gadea ◽  
Hugo De juan Jordán ◽  
Maria Guijarro García
Keyword(s):  
Social Impact ◽  
Social Economy ◽  
Social Enterprises ◽  
Simple Method ◽  
Social Mission ◽  
The Social ◽  
Public Aid ◽  
Set Up ◽  
The Impact

<p class="Textoindependiente21"><span lang="EN-US">The aim of this article is to offer a review of the impact the different methodologies of analysis have on social enterprises, focusing the study on processes that establish a greater universality based on the degree of success achieved in their social objectives, the social reinvestment of their benefits and their democratic organisation, parameters that should favour the creation of a clear and simple method, as well as adaptable to change. The systematics will allow to establish systems for the measurement of the efficiency of social enterprises, in order to both organise objective procedures of comparison and offer support when applying for public aid derived from European and national funds set up for this purpose. The quantification of the social impact of the companies that constitute the social economy is vital to assess and follow up on their social mission.</span></p>

scholarly journals Impact of Microfinance on the Social Development of Beneficiaries of Syangja District, Nepal

2017 ◽  
Vol 31 (1-2) ◽  
pp. 107-120
Author(s):  
Chandra Prasad Dhakal
Keyword(s):  
Social Development ◽  
Financial Management ◽  
Social Impact ◽  
Rural Society ◽  
National Standard ◽  
Healthcare Decision Making ◽  
The Social ◽  
The Impact ◽  
Other Orientation ◽  
Structured Questionnaire

 Microfinance is known as economic crisis manager of rural society. It provides the easy loan along with the skill of financial management and other orientation program. Microfinance is the friend of poor who always become ready to support the poor, marginalized and disadvantage communities. The study aims to identify the social impact of microfinance on the beneficiaries of Syangja district. The data collected were from the 385 beneficiaries of microfinance through structured questionnaire. The study has measured the impact of microfinance on education, healthcare, decision making power and women’s empowerment. There was significant impact observed on the social development of beneficiaries. This study had compared the changes between poor and non-poor as the national standard of poverty. There was significant association between poor and non-poor in the most of cases which had indicated significantly different effect of facilities provided by the microfinance.

scholarly journals MULTI-CRITERIA APPROACH IN EVALUATING CONTRIBUTION OF SOCIAL ENTREPRENEURSHIP TO THE EMPLOYMENT OF SOCIALLY-EXCLUDED GROUPS

2018 ◽  
Vol 24 (5) ◽  
pp. 1885-1908 ◽  
Author(s):  
Marija Džunić ◽  
Jelena Stanković ◽  
Vesna Janković-Milić
Keyword(s):  
Social Exclusion ◽  
Market Integration ◽  
Social Impact ◽  
Social Enterprises ◽  
Persons With Disabilities ◽  
Marginalized Groups ◽  
The Social ◽  
Socially Excluded ◽  
Decision Making Model ◽  
The Impact

The paper explores the potential impact of social enterprises on social exclusion. In particular, the role of social enterprises in labour market integration of socially excluded individuals is analysed within the existing theoretical and policy discourses of exclusion. Taking into account the difficulties in measuring the social impact of social enterprises, our study contributes to the quantitative literature on the performance of social enterprises, taking the number of integrated people as a measure of the impact on social exclusion. The research is based on data on the employment of marginalized groups, derived from a unique dataset collected by a recently conducted survey of social enterprises in Serbia. The original methodological framework combines statistical methods and multi-criteria decision making model, in order to evaluate the contribution of different types of enterprises to the employment of excluded individuals. Weights determination for the MCDM model is performed using entropy while TOPSIS method is applied for the ranking of the types of social enterprises according to the employment of socially excluded categories. The results indicate that enterprises for employment of persons with disabilities, citizens’ associations and cooperatives in Serbia contribute the most in integrating the socially excluded.

Commitment in corporate social responsibility and financial performance: a study in the Tunisian context

2017 ◽  
Vol 13 (2) ◽  
pp. 370-389 ◽  
Author(s):  
Haifa Chtourou ◽  
Mohamed Triki
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Social Impact ◽  
Negative Impact ◽  
Content Type ◽  
Social Actions ◽  
The Social ◽  
Corporate Social ◽  
The Impact

Purpose The purpose of this study is to measure the impact of commitment in corporate social responsibility (CSR) in its various forms (CSR philanthropy/ altruism, CSR integration and CSR innovation) on the financial performance as measured by certain ratios. Design/methodology/approach Thus, on the basis of a theoretically constructed questionnaire administered to 82 responsibles (general managers, human resources managers and CSR responsibles) operating in four business areas, the authors have developed the extent of the overall CSR commitment and the extent of commitment by CSR action type. Findings The examination of the impact of the CSR commitment on the financial performance has partially approved the social impact assumption. Indeed, only the positive effect of CSR philanthropy is demonstrated. Otherwise, for integrated and innovative actions, the low involvement in these actions in relation to philanthropic ones could explain the lack of significant association. But this result is also important, as it marks the lack of any negative effects. Even if they do not result in a better financial performance, these commitments do not bring harm to the firm. As for the strategic approach predominance on the altruistic approach, this hypothesis is checked only in the case of firms operating in the chemical sector. Research limitations/implications The main limitation of the study is the limited size of the total sample and the sample by industry, so the authors expect a larger sample might be able to provide more meaningful results. Practical implications Then, the study suggests the importance of implementing real CSR strategies for firms that often find doubt and ambiguity when they decide to undertake social actions. However, these results do not mean that companies must refrain from driving altruistic or philanthropic activities but are encouraged to seek a social performance that suits a certain level of integration and innovation. Social implications The most important of all the above is that the negative impact of social actions is not verified in any way, allowing to state that the social actions do not exert a negative effect on the financial performance. So, participation in social problems do not bring harm to the firm. Originality/value The originality of this work comes from: the measure of CSR commitment, and the use of a classification typology of CSR actions in terms of their interaction with the core of the firm’s business as developed by Halme (2009). In fact, based on a theoretically constructed questionnaire, the authors have developed two measures of responsible commitment (level of commitment and intensity of commitment) of some industrial Tunisian firms.

scholarly journals The impact of young people's participation in events

2014 ◽  
Vol 5 (3) ◽  
pp. 198-218 ◽  
Author(s):  
Eliza Hixson
Keyword(s):  
Young People ◽  
Identity Development ◽  
Focus Groups ◽  
Social Impact ◽  
Transitional Period ◽  
School Students ◽  
Content Type ◽  
The Social ◽  
Sense Of Involvement ◽  
The Impact

Purpose – This paper aims to explore the social impact that two events, the Adelaide Fringe Festival and the Clipsal 500, have on young residents (16-19 years old) of Adelaide. The purpose of this paper is to examine how young people participate in these events and how this affects their sense of involvement in the event and contributes to their identity development. Design/methodology/approach – A mixed methods approach was adopted in which focus groups and questionnaires were conducted with secondary school students. As an exploratory study, focus groups (n=24) were conducted in the first stage of the research. The results of the focus groups were used to develop a questionnaire that resulted in 226 useable responses. The final stage of the research explored one event in further depth in order to determine the influence of different participation levels. Findings – This study found that young people demonstrated more involvement in the Adelaide Fringe Festival and their identities were more influenced by this event. Further investigation of the Adelaide Fringe Festival also indicated that level of participation affects the social outcomes gained, with those participating to a greater degree achieving higher involvement and increased identity awareness. This is demonstrated through a model which aims to illustrate how an event impact an individual based on their role during the event. Originality/value – This paper applies two leisure concepts in order to analyse the impact of events. Activity involvement is a concept which examines the importance of the activity in the participant's life. Also of importance to young people is how activities contribute to their identities, especially because they are in a transitional period of their lives.

A Simple Starting Point for Designing for and/or Assessing the Social Impact of Products

2017 ◽  
Author(s):  
Hans Ottosson ◽  
Emma Hirschi ◽  
Christopher A. Mattson ◽  
Eric Dahlin
Keyword(s):  
Product Development ◽  
Social Impact ◽  
Development Process ◽  
Social Impacts ◽  
Product Development Process ◽  
Impact Categories ◽  
Functional Characteristics ◽  
Starting Point ◽  
The Social ◽  
The Impact

In this paper we present a starting point for designing for and/or assessing the social impact of engineered products. The starting point is a set of tables comprising products, their general functional characteristics, and the accompanying social impacts. We have constructed these tables by first extracting a set of social impact categories from the literature, then 65 products were qualitatively reviewed to find their social impact. The resulting product impact tables can be used at either the beginning of the product development process to decide what social impact to design for and discover product functions that lead to it, or later to qualitatively assess the social impact of a product being designed and/or to assess the impact of an existing product.

scholarly journals The Consequences of Female Genital Mutilation on Psycho-Social Well-Being: A Systematic Review of Qualitative Research

2021 ◽  
pp. 104973232110018
Author(s):  
Sarah O’Neill ◽  
Christina Pallitto
Keyword(s):  
Female Genital Mutilation ◽  
Social Impact ◽  
Well Being ◽  
Social Consequences ◽  
Health Consequences ◽  
Genital Mutilation ◽  
The Social ◽  
Women's Lives ◽  
The Impact ◽  
Female Genital

The health consequences of female genital mutilation (FGM) have been described previously; however, evidence of the social consequences is more intangible. To date, few systematic reviews have addressed the impact of the practice on psycho-social well-being, and there is limited understanding of what these consequences might consist. To complement knowledge on the known health consequences, this article systematically reviewed qualitative evidence of the psycho-social impact of FGM in countries where it is originally practiced (Africa, the Middle East, and Asia) and in countries of the diaspora. Twenty-three qualitative studies describing the psycho-social impact of FGM on women’s lives were selected after screening. This review provides a framework for understanding the less visible ways in which women and girls with FGM experience adverse effects that may affect their sense of identity, their self-esteem, and well-being as well as their participation in society.

Towards a Universal Social Impact Metric for Engineered Products That Alleviate Poverty

2017 ◽  
Author(s):  
Phillip D. Stevenson ◽  
Christopher A. Mattson ◽  
Kenneth M. Bryden ◽  
Nordica A. MacCarty
Keyword(s):  
Quality Of Life ◽  
Developing Countries ◽  
Social Impact ◽  
Multidimensional Poverty ◽  
Social Impacts ◽  
Five Dimensions ◽  
Multidimensional Poverty Index ◽  
The Social ◽  
The Impact

More than ever before, engineers are creating products for developing countries. One of the purposes of these products is to improve the consumer’s quality of life. Currently, there is no established method of measuring the social impact of these types of products. As a result, engineers have used their own metrics to assess their product’s impact, if at all. Some of the common metrics used include products sold and revenue, which measure the financial success of a product without recognizing the social successes or failures it might have. In this paper we introduce a potential metric, the Product Impact Metric (PIM), which quantifies the impact a product has on impoverished individuals — especially those living in developing countries. It measures social impact broadly in five dimensions: health, education, standard of living, employment quality, and security. The PIM is inspired by the Multidimensional Poverty Index (MPI) created by the United Nations Development Programme. The MPI measures how the depth of poverty within a nation changes year after year, and the PIM measures how an individual’s quality of life changes after being affected by an engineered product. The Product Impact Metric can be used to predict social impacts (using personas that represent real individuals) or measure social impacts (using specific data from products introduced into the market).

Social impact of major sports events perceived by host community

2016 ◽  
Vol 17 (1) ◽  
pp. 78-91 ◽  
Author(s):  
Dongfeng Liu
Keyword(s):  
Social Impact ◽  
Host Community ◽  
Impact Factors ◽  
International Exchange ◽  
Infrastructure Development ◽  
Content Type ◽  
Sports Events ◽  
The Social ◽  
Local Residents ◽  
The Impact

Purpose – The purpose of this paper is to examine the social impact of major sports events perceived by host city residents using Shanghai as an example. Design/methodology/approach – Exploratory factor analysis based on 450 valid questionnaires. Findings – Research revealed six impact factors including four positive ones: “image and status,” “international exchange and cooperation,” “economic and tourism development,” and “infrastructure development.” In addition, two negative ones are also identified as “inconvenience of life” and “environment pollution and security concern.” Taken as a whole, the local residents in Shanghai have a relative positive perception of the impact of major sports events. Four out of six impact factors were significantly predictive of the attitude toward future bidding of major sports events. Originality/value – The existing literature mainly examined social impact of specific events through case study, and little is known about the overall perception of major sports events in general. Accordingly, this paper seeks to bridge the gap by taking an event portfolio approach using Shanghai as an example.

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