Evaluation in Impact Investing

2022 ◽  
pp. 46-76
Author(s):  
Eugenia Strano ◽  
Alessandro Rizzello ◽  
Annarita Trotta
Keyword(s):  
Impact Evaluation ◽  
Social Impact ◽  
Qualitative Approach ◽  
Impact Measurement ◽  
Impact Investing ◽  
International Debate ◽  
Social Impact Bonds ◽  
Evidence Of Impact ◽  
Evaluation Approaches ◽  
The Impact

The emergence of impact investing over the past decade has been accompanied by an increased interest of practitioners and scholars in the impact evaluation topic, one of the twofold pillars of the such an innovative financial approach. To contribute to the international debate, this study adopts a qualitative approach by obtaining results from a systematic literature review of extant research. This is useful to 1) identify the current existing impact evaluation approaches adopted in the field and 2) derive an empirical analysis in the impact investing sector with a focus on impact measurement in social impact bonds. The study opens interesting insights into recognizing the potential for the whole impact investing field, deriving both from theory and evidence of impact evaluation practices.

scholarly journals Impact Investing Strategy: Managing Conflicts between Impact Investor and Investee Social Enterprise

2019 ◽  
Vol 11 (15) ◽  
pp. 4117 ◽  
Author(s):  
Agrawal ◽  
Hockerts
Keyword(s):  
Social Enterprise ◽  
Social Impact ◽  
Economic Value ◽  
Social Enterprises ◽  
Impact Measurement ◽  
Impact Investing ◽  
Industry Specialization ◽  
Social Mission ◽  
For Profit ◽  
The Impact

Impact investing pursues the dual goals of creating socio-economic value for the marginalized, and ensuring net positive financial returns. Impact investing firms achieve their goals through their investments in projects and enterprises which create both social and commercial values. The primary aim of this article is to contribute to our understanding of the process of impact investing, particularly with respect to issues related to aligning impact investing and investee social enterprise goals. The research method employs case-based research methodology. The data consist of six cases of impact investing and their investee social enterprises. In addition, the data involve interviews with experts from the field of impact investing. The findings are that: (1) Social mission plays an important moderating role in the inter-organizational relationship between the impact investor and the investee social enterprise, (2) and an emphasis on due diligence, sector specialization, and communication increases the likelihood of investment while (3) social impact measurement and reporting and frequent engagement increase the likelihood of post-investment alignment. The key contribution of this article is that impact investing (unlike venture capital) is influenced by the ability of its investee to create social value, which plays an important role in the inter-organizational relationship between investor and investee. Furthermore, similar to industry specialization in the for-profit investing, social sector specialization is equally relevant for alignment and returns.

scholarly journals Conversations about measurement and evaluation in impact investing

2018 ◽  
Vol 6 (2) ◽  
Author(s):  
Amreen Choda ◽  
Mishkah Teladia
Keyword(s):  
Social Impact ◽  
Rockefeller Foundation ◽  
Think Tank ◽  
Impact Measurement ◽  
Financial Return ◽  
Impact Investing ◽  
Development Interventions ◽  
African Experience ◽  
Measurement And Evaluation ◽  
The Impact

In response to the enduring social, economic and environmental challenges facing the African continent and its population, development interventions are evolving to embrace new approaches, new partnerships and new means of achieving impact. One such area of heightened innovation and growing activity is impact investing. Impact investing is defined as investments made with the intention of generating both financial return and social or environmental impact. As this momentum in impact investing grows, a complementary area of activity has started to put down roots in Africa – social impact measurement.Genesis Analytics curated and managed the Innovations in Evaluation strand at the recent African Evaluation Association Conference, convened in Uganda in March 2017. This strand was supported by the Rockefeller Foundation and aimed to ignite conversations between impact investment stakeholders and evaluators focused on the African experience with social impact measurement.This article presents themes emerging from the presentations and conversations within the Innovations in Evaluation strand. The article begins with a brief explanation of the rise of impact investing, globally and within Africa, and then goes on to explain the structure of the Innovations in Evaluation strand. This strand included small group discussions and a think tank, which enabled sharing of ideas and experiences between strand participants. The article, therefore, documents the issues emerging during these discussions, including exploration of the concept of impact measurement and how this understanding differs across stakeholders, the currency of impact measurement and emerging practice.The article concludes with presenting what stakeholders and evaluators need to jointly explore to ensure that the African experience is well represented as the impact measurement movement continues to gain momentum globally.

The impact of library associations: preliminary findings of a qualitative study

2014 ◽  
Vol 15 (3) ◽  
pp. 122-144 ◽  
Author(s):  
Susan Henczel
Keyword(s):  
Social Impact ◽  
Assessment Tool ◽  
Professional Associations ◽  
Qualitative Assessment ◽  
Structured Interviews ◽  
National Library ◽  
Content Type ◽  
Library Associations ◽  
Evidence Of Impact ◽  
The Impact

Purpose – The purpose of this paper is to provide an overview, including methodology and preliminary findings, of a current and ongoing doctoral research study of the impact of national library associations. The study uses the impact assessment framework provided by ISO16439:2014 Methods and procedures for assessing the impact of libraries. Design/methodology/approach – If the professional associations supporting the profession are to become sustainable we need to understand the difference they make to the individual members of the profession, to the employers of those individuals and to the profession of librarianship. This study applies the framework provided by ISO 16439:2014 to the national library association environment to explore and gather evidence of impact. To align with the ISO model, impact is differentiated into impact on individuals; social impact – institution (library or employing organization); and social impact – community (the profession). Preliminary findings show evidence of impact in all categories. Findings – Data were gathered through semi-structured interviews that were conducted with members of national library associations in Australia, New Zealand, the UK and the USA during the third quarter of 2013. Originality/value – This study contributes to research methodologies by testing the use of a qualitative assessment tool in a way that could be transferable to other associations both within and external to the library environment and to enable it to be adapted more broadly for other purposes within the library and information environment.

scholarly journals The Impact and Strategy for Combating the Outbreak Covid-19 in Student

2021 ◽  
Vol 5 (4) ◽  
pp. 2145-2155
Author(s):  
Endin Mujahidin ◽  
Bahagia Bahagia ◽  
Fachruddin Majeri Mangunjaya ◽  
Rimun Wibowo
Keyword(s):  
Social Relations ◽  
Research Method ◽  
Social Impact ◽  
Psychological Impact ◽  
Qualitative Approach ◽  
Ibn Khaldun ◽  
The Social ◽  
The Impact ◽  
Depth Interviews ◽  
Method Approach

This study aims to find the social impact, morals, and strategies for dealing with COVID-19 among students. Another goal is to find out the social, religious and psychological impact of COVID-19 on students at Ibn Khaldun University, Bogor. The research method approach uses a descriptive qualitative approach. Data were collected by in-depth interviews with the head of the student class. The sample was selected through a purposive technique. The results were carefully examined through triangulation. The results showed that students could not establish social relations between students and did not participate in campus social organizations. Another finding, the Covid-19 outbreak has an impact on student morals because online meetings are more difficult to foster student morals because teachers do not meet students. In addition, students experience various stresses due to piling tasks and online learning does not face various obstacles such as difficulty communicating with lecturers and not understanding the material. Students take various ways to overcome stress such as listening to favourite music, watching YouTube, playing games, getting enough rest, eating favourite foods such as eating meatballs, straightening intentions, and also strengthening worship and getting closer to God.

scholarly journals EFEITOS DO PROGRAMA TERRITÓRIOS DA CIDADANIA SOBRE INDICADORES ECONÔMICOS E SOCIAIS DOS MUNICÍPIOS DE MG: uma abordagem de mensuração com métodos de pareamento

2016 ◽  
Vol 19 (2) ◽  
pp. 551
Author(s):  
Henrique Dantas Neder ◽  
Tiago Camarinha Lopes
Keyword(s):  
Propensity Score ◽  
Propensity Score Matching ◽  
Impact Evaluation ◽  
Minas Gerais ◽  
Territorial Development ◽  
Impact Measurement ◽  
Estimation Model ◽  
Matching Method ◽  
Government Programs ◽  
The Impact

Resumo: O artigo tem o objetivo de medir o efeito do Programa Territórios da Cidadania no Estado de Minas Gerais, com um modelo de estimação com base no método Propensity Score Matching (PSM). Assim, analisa os problemas de medição de impacto do programa, de forma didática, com o propósito de apresentar a metodologia de avaliação de programas governamentais baseada no pareamento de indivíduos com características semelhantes. Conclui que existem evidências de que no período de vigência do programa, os indicadores de aumento do produto da agropecuária foram afetados positivamente, em termos causais, pelo programa Territórios da Cidadania.Palavras-chave: Desenvolvimento territorial, avaliação de políticas públicas, métodos de pareamento, avaliação de impactos. TERRITORIAL PROGRAMS EFFECTS OF CITIZENSHIP ON SOCIAL AND ECONOMIC INDICATORS OF MG CITIES: an measuring approach with pairing methods Abstract: The paper has the objective of measuring the impact of the Brazilian governmental with a program called Territórios da Cidadania in the state of Minas Gerais. An estimation model was constructed on the basis of the Propensity Score Matching method (PSM). Thus, analyzes the program's impact measurement problems in a didactic way, in order to present the methodology for evaluating government programs based on the pairing of individuals with similar characteristics. Concludes there are evidences that for the period analyzed, the indicators of rural product were positively affected by the program.Key words: Territorial development, public policies evaluation, pairing methods, impact evaluation.

The Impact of Social Innovation

2019 ◽  
pp. 389-416
Author(s):  
Alex Nicholls ◽  
Nadia von Jacobi ◽  
Enrica Chiappero-Martinetti ◽  
Georg Mildenberger
Keyword(s):  
Social Impact ◽  
Social Innovation ◽  
Impact Measurement ◽  
Human Capabilities ◽  
Data Collection And Analysis ◽  
The Social ◽  
Critical Issues ◽  
Evaluative Space ◽  
Normative Models ◽  
The Impact

This chapter addresses key questions in terms of the evaluation of the impact of social innovation processes. After reviewing the existing approaches to capturing impact, the chapter presents a new Critical Issues Framework for social impact measurement to inform the development of the most appropriate and accurate evaluative space for data collection and analysis. As such it advocates standardization in the process of developing social impact indicators and methodologies, rather than in the metrics and units of analysis themselves. This framework is related to the three elements of the Social Grid in so far as they shape normative models of social impact measurement that entrench marginalization and limit stakeholder voice. Moreover, particular attention is paid to issues around capturing changes in human capabilities and how this relates to beneficiary empowerment and voice. The chapter, thus, offers a framework for optimizing impact measurement processes and systems.

scholarly journals Qualitative Inquiry: A Key Element for Assessing the Social Impact of Research

2020 ◽  
Vol 26 (8-9) ◽  
pp. 948-954 ◽  
Author(s):  
Teresa Sordé Martí ◽  
Ramon Flecha ◽  
José Antonio Rodríguez ◽  
José Luis Condom Bosch
Keyword(s):  
Social Sciences ◽  
European Union ◽  
Quantitative Data ◽  
Social Impact ◽  
Qualitative Inquiry ◽  
Qualitative Approach ◽  
The Social ◽  
The Impact ◽  
Positivist Approach ◽  
The Eu

The need to develop adequate methodologies to comprehensively assess the impact of research, especially the social impact of European Union (EU)-funded research, is one of the main concerns within the European Commission as well as for EU citizens, who are more active than ever. This article discusses the rationale behind using a qualitative approach to better address these concerns. Drawing on the FP7 IMPACT-EV research project, the present article discusses how to overcome a positivist approach that evaluates the social impact of research conducted only for its economic objectives and using only quantitative data. The focus on what is needed and what research is expected to bring to society are emphasized and made possible through qualitative inquiry of the social impact of the EU social sciences and the humanities (SSH) research. Thus, the development of qualitative-based analysis of the social impact of research is increasingly required to be conducted in dialogue with citizens.

scholarly journals Social impact bonds and fast policy: Analyzing the Australian experience

2020 ◽  
pp. 0308518X2094152
Author(s):  
Jacob Broom
Keyword(s):  
Social Services ◽  
Social Impact ◽  
Document Analysis ◽  
Impact Investing ◽  
Political Debates ◽  
Social Impact Bonds ◽  
Australian Experience ◽  
The Uk ◽  
Scholarly Attention ◽  
Do So

Social impact bonds (SIBs) are attracting an increasing amount of critical scholarly attention. As an outcomes-based mechanism for financing social services, SIBs financialize social policy through the logic of impact investing. Responding to calls for attention to the politics of SIBs’ development, and breaking with the literature’s focus on cases from the UK and USA, this article explores the emergence of SIBs in Australia. It employs the concept of “fast policy,” which theorizes why and how policies move across borders, and describes the contemporary conditions that enable them to do so. Using document analysis, the article explores the discursive devices and practices used to justify the “pulling in” of SIBs to states in Australia. It finds that key actors in the Australian social impact world justified SIBs’ adoption using their synergy with powerful, popular policy discourses and practices, rather than engaging in political debates about their desirability. The Australian experience illuminates the power of intermediaries and the investors they represent over the design and proliferation of SIBs, as well as the roles played by austerity politics, policy experimentalism, and fast policy infrastructures in producing a context in which SIBs could be made real.

Impact investing in South Africa: managing tensions between financial returns and social impact

2019 ◽  
Vol 31 (3) ◽  
pp. 397-419 ◽  
Author(s):  
Eunivicia Matlhogonolo Mogapi ◽  
Margaret Mary Sutherland ◽  
Anthony Wilson-Prangley
Keyword(s):  
South Africa ◽  
Social Impact ◽  
Emerging Market ◽  
Financial Returns ◽  
African Countries ◽  
Financial Return ◽  
Impact Investing ◽  
Content Type ◽  
Trade Offs ◽  
The Impact

Purpose Impact investment is an emergent field worldwide and it can play an especially important role in Africa. The aim of this study was to examine how impact investors in South Africa manage the tensions between financial returns and social impact. Design/methodology/approach The research was based on 15 semi-structured interviews with key stakeholders in the impact investment community in South Africa to understand the related challenges, trade-offs and tensions. Findings There are two opposing views expressed as to whether the tensions between financial return and social impact result in trade-offs. It is proposed that impact investors embrace this duality and seek to approach it through a contingency and a paradox view. The tensions can be approached by focussing on values alignment, contracting processes, engaged leadership and sector identification. The authors integrate the findings into a proposed framework for effective tension management in an impact investment portfolio. Research limitations/implications This study was limited to selected South African interviewees. It would be valuable to extend the study to other African countries. Practical implications The issue of values alignment between investors, fund managers and investee firms is an important finding for practice. As is the four-part iterative framework for sensing the operating environment, defining impact, organising internally and defining the investment approach. Originality/value This study contributes empirical evidence to scholarship around organisational tensions, especially work in hybrid organisations. It affirms the value of a nuanced application of paradox theory. It examines these tensions through the lived experience of impact investing professionals in an emerging market context.

Review of the evidence for outcome-based payment systems

2018 ◽  
Author(s):  
Kevin Albertson ◽  
Chris Fox ◽  
Chris O’leary ◽  
Gary Painter ◽  
Kimberly Bailey ◽  
...  
Keyword(s):  
Performance Management ◽  
Social Impact ◽  
Payment Systems ◽  
Performance Management Systems ◽  
Current State ◽  
Social Impact Bonds ◽  
Us Findings ◽  
The Uk ◽  
The Impact

This chapter reviews the current state of evidence on what works in outcomes-based commissioning using published evaluations of Payment by Results (PbR) and Social Impact Bonds (SIBs) in the UK and SIBs in the US. Findings from these evaluations are arranged under the following broad headings: designing and commissioning, development of markets, performance management, innovation, the role of incentives, and overall outcomes. The evaluations address issues such as the complexity of PbR commissioning models compared to other commissioning exercises, the impact of PbR on the market for social goods, and the development of new or enhanced performance management systems as a result of outcomes-based commissioning. Two areas of innovation are also highlighted: innovation in service design and delivery, and innovation in financing.

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