Malin Arvidson, Fraser Battye and David Salisbury
This paper seeks to illustrate the social and economic impact of services delivered by a small charity to families affected by post-natal depression (PND). It highlights…
Abstract
Purpose
This paper seeks to illustrate the social and economic impact of services delivered by a small charity to families affected by post-natal depression (PND). It highlights challenges and offers insights to the meaning of “social value” and “value for money” for commissioners of public health services. This has relevance for the introduction of new policies regarding commissioning.
Design/methodology/approach
The analysis is based on a social return on investment (SROI) approach. Evidence was gathered from quantitative data, interviews and a literature review. The analysis examined short-, medium- and long-term effects, and attributed monetary values to social outcomes.
Findings
The service provides a return of £6.50 for every £1 invested. The analysis established outcomes for service users and long-term impacts on families and children. It illustrated how these services are important in achieving more appropriate service responses, providing value for money to the NHS. Findings also relate to the definition of “social value” and “value for money”.
Research limitations/implications
There is no common accepted method for identifying financial values for a number of the benefits identified in this analysis. By being transparent in how the analysis was carried out, the paper encourages further critical thinking in this area.
Practical implications
Engaging commissioners in this type of analysis may assist them in the use of economic evaluation that includes social values as an input to decision making.
Originality/value
The paper contributes to the understanding of “social value” and “value for money” in the context of public services. This is of importance given that the Social Value Act and “Open Public Services” reform are being implemented in the UK.
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This 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…
Abstract
Purpose
This 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/approach
A 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.
Findings
The 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/value
This 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.
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David Anning, Dale Dominey‐Howes and Geoff Withycombe
The purpose of this paper is to demonstrate the critical need for economic information to inform the selection of coastal management options for the beaches of the Sydney region…
Abstract
Purpose
The purpose of this paper is to demonstrate the critical need for economic information to inform the selection of coastal management options for the beaches of the Sydney region and to outline the project currently under way to address this information gap.
Design/methodology/approach
The critical need for the current case study is framed through presenting a summary of the threats posed by current climate change projections, the legislative requirements for economic valuation of natural resources, and the role which economics can play in selection of appropriate coastal management options in response to climate change impacts.
Findings
The paper presents the valuation methods that were selected for use in the Sydney Beaches Valuation Project and outlines the rationale behind their selection.
Originality/value
No current, empirical estimates of the economic value of Sydney beaches are available, which means that managers must use estimates from studies which may not reflect the unique characteristics of either the Sydney beaches or the social context. The results of the study, in terms of both unit measures of economic value and lessons learned during the survey design process, will therefore be of great value to coastal managers in the Sydney region. An external link provides details of the mixed mode survey instrument, which can be used to inform the design of other similar studies. Given the critical role of economic appraisal methods in selection of coastal management alternatives, the survey structure is potentially of great use to coastal managers in similarly threatened coastal locations elsewhere.
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The “stigma” associated with remediated contaminated land is the blighting effect on property value caused by perceived risk and uncertainty. Uncertainties relate to negative…
Abstract
The “stigma” associated with remediated contaminated land is the blighting effect on property value caused by perceived risk and uncertainty. Uncertainties relate to negative intangible factors such as the inability to effect a total “cure”, the risk of failure of the remediation method, the risk of changes in legislation or remediation standards, the difficulty in obtaining finance, or simply a fear of the unknown. Post‐remediation “stigma” is the residual loss in value after all costs of remediation, including insurance and monitoring, have been allowed for. It equates to the difference in value between a remediated contaminated site and a comparable “clean” site with no history of contamination. The initial results from a study of the market sales data of post‐remediated vacant residential land along the Swan River, in Perth, Western Australia, from 1992‐1998 are summarized. The aim of this ongoing research is to estimate the amount of “stigma” arising from a site’s contamination history and measure the effect of this on residential property values of remediated property. The results show that while a site’s contamination history impacts negatively on property prices, the price decreases are offset by the positive influence on price from additional amenities provided in the case study neighbourhood.
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Luigi Corvo, Lavinia Pastore, Marco Mastrodascio and Denita Cepiku
Social return on investment (SROI) has received increasing attention, both academically and professionally, since it was initially developed by the Roberts Enterprise Development…
Abstract
Purpose
Social return on investment (SROI) has received increasing attention, both academically and professionally, since it was initially developed by the Roberts Enterprise Development Fund in the USA in the mid-1990s. Based on a systematic review of the literature that highlights the potential and limitations related to the academic and professional development of the SROI model, the purpose of this study is to systematize the academic debate and contribute to the future research agenda of blended value accounting.
Design/methodology/approach
Relying on the preferred reporting items for systematic reviews and meta-analyses approach, this study endeavors to provide reliable academic insights into the factors driving the usage of the SROI model and its further development.
Findings
A systematic literature review produced a final data set of 284 studies. The results reveal that despite the procedural accuracy characterizing the description of the model, bias-driven methodological implications, availability of resources and sector specificities can influence the type of approach taken by scholars and practitioners.
Research limitations/implications
To dispel the conceptual and practical haze, this study discusses the results found, especially regarding the potential solutions offered to overcome the SROI limitations presented, as well as offers suggestions for future research.
Originality/value
This study aims to fill a gap in the literature and enhance a conceptual debate on the future of accounting when it concerns a blended value proposition.