Scognamiglio, Elisabetta
(2017)
Evaluation of Social Risk in the Social Impact Investing.
[Tesi di dottorato]
Abstract
This study aimed at implementing the framework on social impact investing, focusing the attention on the identification, evaluation and measurement of social risk. In the last ten years, partly because of the financial crisis, there was an increasing interest in the
world of social finance, especially in the theme of social impact investing. This theme attracts the attention not just of practitioner but also of research field in academia.
However, the recent history of this theme, caused a lack of an adequate discussion about
many aspects linked to SII regarding, in particular the evaluation and measurement of
return and risk of this form of investment. Starting from this consideration this study
follow three main passage. A formulation of a unique definition of social risk through
a content analysis; an identification of main social risk factors, through a case study methodology; a construction of a social risk table score that is able to give a final quantitative value corresponding to the level of social risk of the program evaluated. This last step represent an innovation in the social finance evaluation topic, that could be considered an easy tool for practitioner and, in the same time, a first step to further research.
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