Social Impact Funds

Abstract

Includes index. This book provides a detailed study of the social impact funds industry. In particular, chapters focus on: The contextualization of social impact funds within the social impact investment market; The exploration of features, investment strategy and classification of funds; An in-depth analysis of the emergent literature; An analysis of case studies of impact funds; A synthetic assessment of the industry, conducted through a cluster analysis; The exploration of investment strategy and mission consistency of funds active in the market aimed to show funds attitude to be defined as "impact-oriented funds"; The investigation of determinants of funds' target performance. This volume will be useful to scholars, students from different academic disciplines such as economics, finance, political science, entrepreneurship, and practitioners who are interested in impact investing and in the financing of social impact programs through impact-funds. Acknowledgements; Contents; List of Figures; List of Tables; Abstract; 1 Introduction; Abstract ; References; 2 An Introduction to Social Impact Investing; Abstract ; 2.1 Introduction; 2.2 Definition and Main Features; 2.3 The Perimeter of SIIs; 2.3.1 SIIs, SRIs, and Other Investments; 2.3.2 The Complex Nature of SIIs; 2.4 Market Structure and Size; 2.4.1 Demand of SIIs; 2.4.2 Supply of SIIs; 2.4.3 Other Market infrastructures and Actors; 2.4.4 Regulation; 2.4.5 The SII Market in Numbers; 2.5 How Does SII Channel Funds to investee organizations? ; 2.6 Measurement of Social Impact. 2.6.1 The Impact Reporting Investment Standard2.6.2 The Global Impact Investing Rating System; 2.6.3 Other Metrics for Impact Evaluation; 2.7 Conclusion; References; 3 Impact-Oriented Investment Funds: An Overview; Abstract ; 3.1 Introduction; 3.2 Definition, Features, Attempt of Classification, and regulation; 3.2.1 Definition; 3.2.2 The Promotion of Impact Funds Establishment; 3.2.3 Features: From Mission to Capital Structure; 3.2.4 How We Can Classify Impact Funds?; 3.2.5 An Attempt of Regulation: The European Social Entrepreneurship Funds; 3.3 Impact Funds: The Missing Literature. 3.4 The Impact Funds Industry3.5 Risk and Return of Impact Funds; 3.6 Which Challenges and Drivers for Success?; 3.7 Case Studies; 3.8 Conclusion; References; 4 A Market Segmentation of Impact-Oriented Funds; Abstract ; 4.1 Introduction and Rationality of the Analysis; 4.2 Methodology; 4.3 Data; 4.4 Clustering Impact-Oriented Funds; 4.5 Conclusion; References; 5 How Many Funds Are Really Impact Funds?; Abstract ; 5.1 Introduction and Rationality of the Analysis; 5.2 Data and Methodology; 5.3 Main Findings; 5.3.1 The Overall Results of the Analysis. 5.3.2 Results by Geographical Area on Investments5.3.3 Results by Funds Size; 5.3.4 Results by Impact Theme; 5.4 Discussion of Results; 5.4.1 Social Target Area; 5.4.2 Beneficiaries; 5.4.3 Goods and Services; 5.4.4 Delivery Organizations; 5.4.5 Measurability; 5.4.6 Investor Intent; 5.4.7 Return Expectation; 5.5 Conclusion; References; 6 Determinants of Funds' Target Return; Abstract ; 6.1 Introduction; 6.2 What Do We Know About Performance of Impact Funds?; 6.3 Rationality of the Analysis; 6.4 Methodology and Data; 6.4.1 Methodology; 6.4.2 Data; 6.5 Findings and Discussion; 6.6 Conclusion.