Barriers to social impact bond implementation: a review of evidence from the UK and US

IF 2.5 Q3 MANAGEMENT International Journal of Public Sector Management Pub Date : 2023-09-04 DOI:10.1108/ijpsm-05-2022-0134

Mikkel Munksgaard Andersen

{"title":"Barriers to social impact bond implementation: a review of evidence from the UK and US","authors":"Mikkel Munksgaard Andersen","doi":"10.1108/ijpsm-05-2022-0134","DOIUrl":null,"url":null,"abstract":"PurposeThis study investigates barriers to social impact bond (SIB) implementation through a review of academic and gray literature. A SIB is a type of public policy instrument that leverages payment for performance (P4P), contracting together with private investments in the delivery of welfare programs. Outcome-based contracts, such as SIBs, are gaining attraction for public service providers in developed countries, but research regarding their implementation remains underexplored both empirically and theoretically.Design/methodology/approachA literature review is conducted in which two types of documents are included: (1) empirical research papers and (2) evaluations of completed SIB projects. In total, 43 documents have been investigated. The study engages in a comparative design where insights across sectors (healthcare, social care and employment/education), are leveraged. The insights rest on evidence from the UK and US.FindingsThe investigation reveals five types of barriers to SIB implementation related to: (1) the SIB model, (2) organizational competencies, (3) data infrastructure, (4) stakeholder engagement and (5) the institutional context. The study discusses ways of managing these barriers and develops a conceptual framework for empirically investigating SIB implementation.Originality/valueThis study is the first academic paper to systematically assess insights regarding the implementation of SIBs. Also, the article proposes a conceptual framework for investigating SIB implementation.","PeriodicalId":47437,"journal":{"name":"International Journal of Public Sector Management","volume":" ","pages":""},"PeriodicalIF":2.5000,"publicationDate":"2023-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Public Sector Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/ijpsm-05-2022-0134","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"MANAGEMENT","Score":null,"Total":0}

引用次数: 0

Abstract

PurposeThis study investigates barriers to social impact bond (SIB) implementation through a review of academic and gray literature. A SIB is a type of public policy instrument that leverages payment for performance (P4P), contracting together with private investments in the delivery of welfare programs. Outcome-based contracts, such as SIBs, are gaining attraction for public service providers in developed countries, but research regarding their implementation remains underexplored both empirically and theoretically.Design/methodology/approachA literature review is conducted in which two types of documents are included: (1) empirical research papers and (2) evaluations of completed SIB projects. In total, 43 documents have been investigated. The study engages in a comparative design where insights across sectors (healthcare, social care and employment/education), are leveraged. The insights rest on evidence from the UK and US.FindingsThe investigation reveals five types of barriers to SIB implementation related to: (1) the SIB model, (2) organizational competencies, (3) data infrastructure, (4) stakeholder engagement and (5) the institutional context. The study discusses ways of managing these barriers and develops a conceptual framework for empirically investigating SIB implementation.Originality/valueThis study is the first academic paper to systematically assess insights regarding the implementation of SIBs. Also, the article proposes a conceptual framework for investigating SIB implementation.

查看原文

微信好友朋友圈 QQ好友复制链接

本刊更多论文

社会影响债券实施的障碍：英国和美国的证据综述

目的本研究通过对学术文献和灰色文献的回顾，探讨社会影响债券(SIB)实施的障碍。SIB是一种利用绩效付费(P4P)的公共政策工具，与提供福利计划的私人投资一起签订合同。以结果为基础的合同，如sib，正在吸引发达国家的公共服务提供者，但关于其实施的研究在经验和理论方面仍未得到充分探索。设计/方法/方法进行文献综述，其中包括两类文件:(1)实证研究论文和(2)已完成的SIB项目的评估。总共调查了43份文件。该研究采用了比较设计，利用了跨部门(医疗保健、社会关怀和就业/教育)的见解。这些见解基于来自英国和美国的证据。调查结果揭示了SIB实施的五种障碍，涉及:(1)SIB模型，(2)组织能力，(3)数据基础设施，(4)利益相关者参与和(5)制度背景。本研究讨论了管理这些障碍的方法，并为实证调查SIB的实施开发了一个概念框架。原创性/价值本研究是第一篇系统评估关于sib实施的见解的学术论文。此外，本文还提出了一个研究SIB实现的概念框架。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文去求助

来源期刊

International Journal of Public Sector Management Multiple-

CiteScore

5.00

自引率

7.10%

发文量

期刊介绍： The International Journal of Public Sector Management (IJPSM) publishes academic articles on the management, governance, and reform of public sector organizations around the world, aiming to provide an accessible and valuable resource for academics and public managers alike. IJPSM covers the full range of public management research including studies of organizations, public finances, performance management, Human Resources Management, strategy, leadership, accountability, integrity, collaboration, e-government, procurement, and more. IJPSM encourages scholars to publish their empirical research and is particularly interested in comparative findings. IJPSM is open to articles using a variety of research methods and theoretical approaches.