The impact of social impact bond financing (Record no. 523715)
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| fixed length control field | 01478nam a22001337a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
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| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Hevenstone, Debra, et al |
| 245 ## - TITLE STATEMENT | |
| Title | The impact of social impact bond financing |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | Public Administration Review |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 83(4), Jul-Aug, 2023: p.930-946 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | Social impact bonds (SIBs), also known as Pay for Success, are an innovation in Payment by Results contracting. Investors finance programs and are repaid based on the “SIB effect,” which includes changes in outcomes attributable to financing. We generate a quantitative estimate of this part of the SIB effect for two active labor market programs in the Netherlands and Switzerland. Comparing program impacts within providers using SIB and non-SIB contracts suggests financing has positive impacts on public benefit receipt, employment, and income. Qualitative research suggests this is because SIB contracts increased pressure for all involved parties, leading to the institutionalization of selection and greater resources for SIB-financed services. Contracts with high pressure, like SIBs, may compromise both performance requirements and the potential to measure performance. We examine the implications of these findings in relation to agency and stewardship theories and highlight the significance of SIBs as multilateral as opposed to bilateral contracts. – Reproduced |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | Public Administration Review |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
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