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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Alternative investing as brokering
T2 - The embedding process of a Social Impact Bond model in a local context
AU - Kosmynin, Mikhail
AU - Jack, Sarah
PY - 2022/6/30
Y1 - 2022/6/30
N2 - Social Impact Bonds (SIBs) are gaining traction as a research topic. Using a longitudinal case study of a Norwegian social venture - Nature Magic - funded through a SIB model, this article explores the embedding process of a SIB model into a local context – diverging from previous research focused on empirical cases from the UK and USA and refining the social aspects of SIBs. We show that the SIB model is embedded through three processes: 1) cultivating opportunity; 2) pulling together; and 3) fostering experimentation and ‘mutation’. We find that these embedding processes were fostered through developing and activating bonding and bridging social capital. This study also extends our understanding of alternative investing by theorizing it as brokering. We find that social investors engage in brokering processes in facilitating collaboration between typically disconnected spheres - such as social ventures and municipalities - through these embedding processes.
AB - Social Impact Bonds (SIBs) are gaining traction as a research topic. Using a longitudinal case study of a Norwegian social venture - Nature Magic - funded through a SIB model, this article explores the embedding process of a SIB model into a local context – diverging from previous research focused on empirical cases from the UK and USA and refining the social aspects of SIBs. We show that the SIB model is embedded through three processes: 1) cultivating opportunity; 2) pulling together; and 3) fostering experimentation and ‘mutation’. We find that these embedding processes were fostered through developing and activating bonding and bridging social capital. This study also extends our understanding of alternative investing by theorizing it as brokering. We find that social investors engage in brokering processes in facilitating collaboration between typically disconnected spheres - such as social ventures and municipalities - through these embedding processes.
KW - Social impact bond
KW - Collaboration
KW - Embedding
KW - Alternative investment
KW - Brokering
U2 - 10.1016/j.jbvi.2021.e00297
DO - 10.1016/j.jbvi.2021.e00297
M3 - Journal article
VL - 17
JO - Journal of Business Venturing Insights
JF - Journal of Business Venturing Insights
SN - 2352-6734
M1 - e00297
ER -