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Dr. Helen Chiappini
Department of Management and Business Administration, G. d’Annunzio University of Chieti-Pescara, Viale Pindaro 42, 65127 Pescara, Italy

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0 Intellectual Capital
0 Microfinance
0 Non-performing Loans
0 Social impact investment funds
0 Banking sustainability

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Social impact investment funds
Intellectual Capital
Microfinance

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Chapter
Published: 14 April 2021 in Palgrave Studies in Impact Finance
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The chapter offers an overview of sustainable finance products implemented during the pandemic crisis and summarizes some reflections on how sustainable finance could represent a useful tool for reconstructing a resilient financial and economic system.

ACS Style

Helen Chiappini. Sustainable Finance and COVID-19 Pandemic: Weathering the Storm and Preventing a New One. Palgrave Studies in Impact Finance 2021, 285 -299.

AMA Style

Helen Chiappini. Sustainable Finance and COVID-19 Pandemic: Weathering the Storm and Preventing a New One. Palgrave Studies in Impact Finance. 2021; ():285-299.

Chicago/Turabian Style

Helen Chiappini. 2021. "Sustainable Finance and COVID-19 Pandemic: Weathering the Storm and Preventing a New One." Palgrave Studies in Impact Finance , no. : 285-299.

Chapter
Published: 14 April 2021 in Palgrave Studies in Impact Finance
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Climate change, but also the unmet social needs, encourage a fast transition towards a sustainable economy and, in turn, the identification of a clear regulatory framework, able to support the financing of the most virtuous sectors. Several jurisdictions are moving on in this direction; however, investors remain still caution due to the risk of green-washing that the sustainable market currently faces. The chapter explores relevant challenges of sustainable finance.

ACS Style

Mario La Torre; Helen Chiappini. Sustainable Finance: Emerging Challenges and Opportunities. Palgrave Studies in Impact Finance 2021, 1 -4.

AMA Style

Mario La Torre, Helen Chiappini. Sustainable Finance: Emerging Challenges and Opportunities. Palgrave Studies in Impact Finance. 2021; ():1-4.

Chicago/Turabian Style

Mario La Torre; Helen Chiappini. 2021. "Sustainable Finance: Emerging Challenges and Opportunities." Palgrave Studies in Impact Finance , no. : 1-4.

Journal article
Published: 08 February 2021 in Sustainability
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This paper analyzes the response of sustainable indexes to the pandemic lockdown orders in Europe and the USA, contributing to both the research on the effects of the global pandemic outbreak and the resiliency of sustainable investments under market distress. Our results demonstrate that sustainable indexes were negatively impacted by lockdown orders; however, they did not show statistically significant different abnormal returns compared to traditional indexes. Similarly, our empirical results confirm that sustainable screening strategies (negative, positive, best in class) did not have an influence during such announcements. These results are robust across several model specifications and robustness tests, including nonparametric tests, generalized autoregressive conditionally heteroskedastic (GARCH) estimation of abnormal returns, and alternative events. The findings suggest that investors do not have to pay the price for the investments in sustainable assets when a bear market occurs; consequently, ceteris paribus, these investments appear suitable for financial-first investors. Such results have relevant practical consequences in terms of sustainable investment attractiveness and market growth.

ACS Style

Helen Chiappini; Gianfranco Vento; Leonardo De Palma. The Impact of COVID-19 Lockdowns on Sustainable Indexes. Sustainability 2021, 13, 1846 .

AMA Style

Helen Chiappini, Gianfranco Vento, Leonardo De Palma. The Impact of COVID-19 Lockdowns on Sustainable Indexes. Sustainability. 2021; 13 (4):1846.

Chicago/Turabian Style

Helen Chiappini; Gianfranco Vento; Leonardo De Palma. 2021. "The Impact of COVID-19 Lockdowns on Sustainable Indexes." Sustainability 13, no. 4: 1846.

Research article
Published: 30 November 2020 in Corporate Social Responsibility and Environmental Management
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This paper investigates whether the European Union policies to tackle climate change create or destroy value for shareholders over the years 2013–2018. Using the event study method, our results suggest that all the sectors were affected by at least one climate policy announcement and that negative effects were more common than positive effects, especially when the Paris Agreement came into force. Up until that point, the announcement of a new policy produced significant positive effects only on the most environmentally committed firms. Finally, data panel regressions reveal that the company's sector, more than its environmental commitment, played a central role in determining market reactions toward climate policies. Our paper contributes to the still limited debate on the relationship between environmental regulation and value for equity investors and opens up the debate on a topic yet to be explored: the mitigating role of the company's environmental commitment. Relevant implications for policy makers promoting a European sustainable economy are also discussed.

ACS Style

Giuliana Birindelli; Helen Chiappini. Climate change policies: Good news or bad news for firms in the European Union? Corporate Social Responsibility and Environmental Management 2020, 28, 831 -848.

AMA Style

Giuliana Birindelli, Helen Chiappini. Climate change policies: Good news or bad news for firms in the European Union? Corporate Social Responsibility and Environmental Management. 2020; 28 (2):831-848.

Chicago/Turabian Style

Giuliana Birindelli; Helen Chiappini. 2020. "Climate change policies: Good news or bad news for firms in the European Union?" Corporate Social Responsibility and Environmental Management 28, no. 2: 831-848.

Earlycite article
Published: 02 October 2020 in Corporate Governance: The International Journal of Business in Society
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Purpose This study aims to examine the relationship between female directors and bank risk. In particular, whether such a relationship varies across sound or unsound banks and with or without a critical mass of female directors is tested. Design/methodology/approach Using a sample of 215 listed banks from 40 countries over the period 2008–2016, this study carries out panel data analyses and tests all the model specifications on four different measures of risk (common equity ratio, leverage, NPLs ratio and price volatility). Findings The findings show that increasing the number of female directors does not reduce bank risk when banks are unsound. When banks are sound, female directors have a significant and positive role in reducing risk, only until reaching a critical mass of women. Practical implications This study provides useful corporate governance indications for policymakers and practitioners. Advantages of gender diversity on boards are recognized especially in sound banks, but increasing the number of women directors beyond the critical mass may not lead to lower risk. In fact, ethical or legal pressures aimed at increasing gender diversity on boards (i.e. soft or hard gender quotas) may cause undesired effects on bank risk, especially if female directors are not chosen on merit and skills. Moreover, gender-balanced boards, namely, with a “dual critical mass,” seem to assure more effective decision-making processes. Originality/value This study provides empirical evidence on female board members and risk minimization, differentiating between sound or unsound banks. Furthermore, this study contributes to the literature on the critical mass of women on the board of directors by testing this theory for these two categories of banks.

ACS Style

Giuliana Birindelli; Helen Chiappini; Marco Savioli. When do women on board of directors reduce bank risk? Corporate Governance: The International Journal of Business in Society 2020, 20, 1307 -1327.

AMA Style

Giuliana Birindelli, Helen Chiappini, Marco Savioli. When do women on board of directors reduce bank risk? Corporate Governance: The International Journal of Business in Society. 2020; 20 (7):1307-1327.

Chicago/Turabian Style

Giuliana Birindelli; Helen Chiappini; Marco Savioli. 2020. "When do women on board of directors reduce bank risk?" Corporate Governance: The International Journal of Business in Society 20, no. 7: 1307-1327.

Chapter
Published: 02 July 2020 in Palgrave Studies in Impact Finance
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This chapter explores the environmental impact on investment panorama in light of the new European regulatory process on sustainable finance and of worldwide impact on investing practices. The main results can be summarised as follows. First, the emergent European regulation on sustainable finance seems to be going in the direction of impact investing. Second, green bonds and environmental funds fall within the perimeter of impact investing, while crowdfunding shows similarities with sustainable finance. Third, the European panorama—pioneering in regulation—does not appear equally innovative from the perspective of financial models. Environmental impact investing is experiencing a delay in Europe in terms of innovative financial models such as environmental impact bonds (EIBs). Finally, the study suggests that European governments should consider EIBs within models able to finance environmental strategies.

ACS Style

Giuliana Birindelli; Annarita Trotta; Helen Chiappini; Alessandro Rizzello. Environmental Impact Investments in Europe: Where Are We Headed? Palgrave Studies in Impact Finance 2020, 151 -175.

AMA Style

Giuliana Birindelli, Annarita Trotta, Helen Chiappini, Alessandro Rizzello. Environmental Impact Investments in Europe: Where Are We Headed? Palgrave Studies in Impact Finance. 2020; ():151-175.

Chicago/Turabian Style

Giuliana Birindelli; Annarita Trotta; Helen Chiappini; Alessandro Rizzello. 2020. "Environmental Impact Investments in Europe: Where Are We Headed?" Palgrave Studies in Impact Finance , no. : 151-175.

Chapter
Published: 02 July 2020 in Palgrave Studies in Impact Finance
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This chapter introduces some current issues featuring sustainable finance through a discussion of the relevant debates related to the financing of social and environmental initiatives.

ACS Style

Mario La Torre; Helen Chiappini. Enhancing Efficiency in Sustainable Markets. Palgrave Studies in Impact Finance 2020, 1 -3.

AMA Style

Mario La Torre, Helen Chiappini. Enhancing Efficiency in Sustainable Markets. Palgrave Studies in Impact Finance. 2020; ():1-3.

Chicago/Turabian Style

Mario La Torre; Helen Chiappini. 2020. "Enhancing Efficiency in Sustainable Markets." Palgrave Studies in Impact Finance , no. : 1-3.

Chapter
Published: 02 July 2020 in Palgrave Studies in Impact Finance
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This chapter summarizes some of the main trends, opportunities and risks linked with sustainability and, in turn, with sustainable finance. Specifically, the chapter discusses investor preferences and the recent diffusion of new sustainability business models and regulations.

ACS Style

Mario La Torre; Helen Chiappini. Sustainable Finance: Trends, Opportunities and Risks. Palgrave Studies in Impact Finance 2020, 281 -287.

AMA Style

Mario La Torre, Helen Chiappini. Sustainable Finance: Trends, Opportunities and Risks. Palgrave Studies in Impact Finance. 2020; ():281-287.

Chicago/Turabian Style

Mario La Torre; Helen Chiappini. 2020. "Sustainable Finance: Trends, Opportunities and Risks." Palgrave Studies in Impact Finance , no. : 281-287.

Journal article
Published: 15 April 2020 in Sustainability
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The article investigates the intellectual capital disclosure of Italian banks over the years 2016–2017, applying the specific lens of healthy and distressed banks. To this end, we used content analysis and encoding techniques. The main results point out that intellectual capital (IC) disclosure is generally poor and that the intensity of disclosure varies slightly between healthy and distressed banks. Regarding the quality of disclosure, healthy banks present a higher, albeit modest, tendency to disclose non-qualitative and forward-looking information, maybe due to the fact that they are more focused on the strategies and the relationships with stakeholders as opposed to a more short-term approach of the distressed banks. To complement our study on healthy and distressed banks, we repeated the analysis focusing on bank size and independent directors. In this case, results do not show relevant differences in terms of IC disclosure. Hence, our findings suggest the need to consider banks’ IC disclosure as a strategic asset for increasing, among others, transparency and reputation.

ACS Style

Giuliana Birindelli; Paola Ferretti; Helen Chiappini; Andrea Cosentino. Intellectual Capital Disclosure: Some Evidence from Healthy and Distressed Banks in Italy. Sustainability 2020, 12, 3174 .

AMA Style

Giuliana Birindelli, Paola Ferretti, Helen Chiappini, Andrea Cosentino. Intellectual Capital Disclosure: Some Evidence from Healthy and Distressed Banks in Italy. Sustainability. 2020; 12 (8):3174.

Chicago/Turabian Style

Giuliana Birindelli; Paola Ferretti; Helen Chiappini; Andrea Cosentino. 2020. "Intellectual Capital Disclosure: Some Evidence from Healthy and Distressed Banks in Italy." Sustainability 12, no. 8: 3174.

Journal article
Published: 29 March 2019 in Sustainability
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Business models for sustainability (BMfS) are relevant topics on research agendas, given their orientation toward sustainability issues. However, traditional versions of these models are often ill-equipped at solving complex social problems. Cross-sector partnerships for sustainability (CSPfS) have been recognized as a new paradigm that mitigates the failure of traditional models. Impact investing, and social impact bonds (SIBs) in particular, represent an interesting field of research in innovative business models for sustainable finance, even though the literature does not consider SIBs within this broader field. We propose an exploratory study based on qualitative methods aimed at conceptualizing SIBs within the framework of BMfS and understanding how SIB collaboration varies across social sectors and geographical areas. Our study identifies three different models of SIBs characterized by the different degrees of collaboration between actors: (i) SIB as a fully collaborative partnership; (ii) SIB as a low-collaborative partnership; and (iii) SIB as a partially collaborative partnership. Our findings are useful to policy makers and practitioners involved in the SIB design, suggesting that a fully collaborative SIB model may stand a better chance of achieving the expected social impacts.

ACS Style

Mario La Torre; Annarita Trotta; Helen Chiappini; Alessandro Rizzello. Business Models for Sustainable Finance: The Case Study of Social Impact Bonds. Sustainability 2019, 11, 1887 .

AMA Style

Mario La Torre, Annarita Trotta, Helen Chiappini, Alessandro Rizzello. Business Models for Sustainable Finance: The Case Study of Social Impact Bonds. Sustainability. 2019; 11 (7):1887.

Chicago/Turabian Style

Mario La Torre; Annarita Trotta; Helen Chiappini; Alessandro Rizzello. 2019. "Business Models for Sustainable Finance: The Case Study of Social Impact Bonds." Sustainability 11, no. 7: 1887.

Chapter
Published: 28 December 2018 in Socially Responsible Investments
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The aim of this chapter is to introduce the aim and structure of the book. Specifically, the aim of the book is to build a bridge between corporate social responsibility (CSR) and sustainable finance in financial markets. Classic CSR topics have been investigated in the light of a modern conception of sustainability. The book is organized in two main blocks. The first block emphasizes four relevant topics in the CSR panorama of financial institutions: banks remuneration practices; human capital disclosure; the impact of environmental performance on banks, and finally, the institutional investors’ attitude towards socially responsible investments (SRIs). The second block looks to CSR practices within the financial markets and discusses risk-return profiles of SRI and non-SRI indexes in different time frames; it investigates whether thematic social responsible funds obtain different risk-return than traditional funds, and finally, assesses whether equity crowdfunding could foster social innovation.

ACS Style

Mario La Torre; Helen Chiappini. Introduction. Socially Responsible Investments 2018, 1 -3.

AMA Style

Mario La Torre, Helen Chiappini. Introduction. Socially Responsible Investments. 2018; ():1-3.

Chicago/Turabian Style

Mario La Torre; Helen Chiappini. 2018. "Introduction." Socially Responsible Investments , no. : 1-3.

Chapter
Published: 28 December 2018 in Socially Responsible Investments
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The need to overcome the limitations connected with the traditional financial reporting has driven the development of intellectual capital (IC) and corporate social responsibility (CSR) disclosure. Such need has also highlighted the relevance of an integrated reporting, recently supported by the Directive 2014/95/EU, which makes mandatory the disclosure of non-financial information for large-sized enterprises. The chapter focusses on the disclosure of the IC issues provided by the Italian systemically important banks. To conduct our analysis, we defined a disclosure model for the IC issues and collected data from the reports available on the banks’ websites; we used a deductive content analysis, integrated by the Scott’s pi test in order to evaluate the inter-coder reliability. Our findings, accordingly to prior literature, point out an incomplete IC disclosure, meaning that banks should extend the level of reporting on IC issues, and particularly they should improve the presence of forward-looking information and the quantified terms of IC elements.

ACS Style

Giuliana Birindelli; Paola Ferretti; Helen Chiappini. Intellectual Capital Disclosure: Evidence from the Italian Systemically Important Banks. Socially Responsible Investments 2018, 37 -59.

AMA Style

Giuliana Birindelli, Paola Ferretti, Helen Chiappini. Intellectual Capital Disclosure: Evidence from the Italian Systemically Important Banks. Socially Responsible Investments. 2018; ():37-59.

Chicago/Turabian Style

Giuliana Birindelli; Paola Ferretti; Helen Chiappini. 2018. "Intellectual Capital Disclosure: Evidence from the Italian Systemically Important Banks." Socially Responsible Investments , no. : 37-59.

Chapter
Published: 24 July 2018 in Palgrave Macmillan Studies in Banking and Financial Institutions
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The academic debate regarding the ability of socially responsible investments (SRIs) to outperform traditional investments has not yet concluded. SRIs’ outperformance (or underperformance) seams driven by many factors, such as the specificity of markets, timing, and types of investments (Wu et al., Manag Decis Econ 38:238–251, 2017; Revelli and Viviani, Bus Ethics Eur Rev 24(2):158–185, 2015). The aim of this chapter is thus to contribute to the academic debate investigating whether the Environmental, Social, and Governance (ESG) rating can be a proxy of companies resilient during financial turmoil. The methodology applied is the event study. The considered events are the recent Brexit announcement and the bankruptcy of Lehman Brothers. The SRI sample consists of 250 European socially responsible companies, while ESG ratings are from the Thomson Reuters ESG rating. This study contributes to the literature by showing that higher ESG ratings can be an expression of more resilient companies, especially during severe financial shocks. This finding is also useful for practitioners involved in portfolio investment selection.

ACS Style

Helen Chiappini; Gianfranco A. Vento. Non-financial Rating and Socially Responsible Investment Reaction to Financial Turmoil. Palgrave Macmillan Studies in Banking and Financial Institutions 2018, 221 -237.

AMA Style

Helen Chiappini, Gianfranco A. Vento. Non-financial Rating and Socially Responsible Investment Reaction to Financial Turmoil. Palgrave Macmillan Studies in Banking and Financial Institutions. 2018; ():221-237.

Chicago/Turabian Style

Helen Chiappini; Gianfranco A. Vento. 2018. "Non-financial Rating and Socially Responsible Investment Reaction to Financial Turmoil." Palgrave Macmillan Studies in Banking and Financial Institutions , no. : 221-237.

Chapter
Published: 19 July 2018 in Social Impact Investing Beyond the SIB
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This chapter provides an empirical insight into factors characterizing social risk of social impact bonds (SIBs) and explores the correlation between social risk and financial return. In order to achieve this research aim, the methodology is organized in three different steps: (1) step one includes the implementation of a scoring model for SIB social risk; (2) step two involves data collection and the measurement of social risk scoring components; and (3) the last step tests for a correlation between social risk and financial returns of SIBs. The sample is composed of 34 SIBs that share information publically. Empirical findings show that most SIBs have a medium score of social risk, while social risk and financial return are not significantly correlated.

ACS Style

Elisabetta Scognamiglio; Alessandro Rizzello; Helen Chiappini. Social Risk and Financial Returns: Evidences from Social Impact Bonds. Social Impact Investing Beyond the SIB 2018, 47 -68.

AMA Style

Elisabetta Scognamiglio, Alessandro Rizzello, Helen Chiappini. Social Risk and Financial Returns: Evidences from Social Impact Bonds. Social Impact Investing Beyond the SIB. 2018; ():47-68.

Chicago/Turabian Style

Elisabetta Scognamiglio; Alessandro Rizzello; Helen Chiappini. 2018. "Social Risk and Financial Returns: Evidences from Social Impact Bonds." Social Impact Investing Beyond the SIB , no. : 47-68.

Chapter
Published: 19 July 2018 in Social Impact Investing Beyond the SIB
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This chapter focuses on research and policy agenda for impact investments. Research and policy recommendations can be formulated for any kind of financial architecture, however, some pillars regard many financial products as well as geographical areas and political contexts. Thus, this chapter assesses points still open, like the need for: a soft and hard regulation; a transparent governance; reliable social and financial performance; and the market development.

ACS Style

Helen Chiappini. Social Impact Investments Beyond Social Impact Bonds: A Research and Policy Agenda. Social Impact Investing Beyond the SIB 2018, 211 -222.

AMA Style

Helen Chiappini. Social Impact Investments Beyond Social Impact Bonds: A Research and Policy Agenda. Social Impact Investing Beyond the SIB. 2018; ():211-222.

Chicago/Turabian Style

Helen Chiappini. 2018. "Social Impact Investments Beyond Social Impact Bonds: A Research and Policy Agenda." Social Impact Investing Beyond the SIB , no. : 211-222.

Journal article
Published: 20 March 2018 in Corporate Ownership and Control
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Development banks play an active role in smoothing growth of world’s disadvantaged areas. The social mission of development banks requires that they pay attention to corporate social responsibility (CSR) and to the social outcome of financing activities. However, like any other financial institution, they must consider the business sustainability and the financial stability over time. Thus, a comprehensive loan appraisal process should include financial and social aspects. Literature does not properly investigate development banks loan appraisal process, thus the aim of this paper is to contribute to this stream of literature, analysing how development banks can include the evaluation of social and environmental variables within their loan appraisal process. For the purpose of the research, we employed a case study of the Rwanda Development Bank (BRD). The BRD loan appraisal process combines the evaluation of typical aspects of corporate social responsibility – like the firms or projects compliance to health and safety regulations or the implementation of the code of ethics including diversity policies – with the evaluation of social and environmental impact, as well with financial aspects. The BRD social impact assessment is also valuable because it follows the criteria of proportionality of loans evaluation, balancing completeness of information with the cost of the assessment.

ACS Style

Gianfranco A. Vento; Helen Chiappini; Giuseppe Lia. Corporate social responsibility, social and financial performance: The case study of the loan appraisal process of the Rwanda Development Bank. Corporate Ownership and Control 2018, 15, 47 -56.

AMA Style

Gianfranco A. Vento, Helen Chiappini, Giuseppe Lia. Corporate social responsibility, social and financial performance: The case study of the loan appraisal process of the Rwanda Development Bank. Corporate Ownership and Control. 2018; 15 (3):47-56.

Chicago/Turabian Style

Gianfranco A. Vento; Helen Chiappini; Giuseppe Lia. 2018. "Corporate social responsibility, social and financial performance: The case study of the loan appraisal process of the Rwanda Development Bank." Corporate Ownership and Control 15, no. 3: 47-56.

Book chapter
Published: 12 May 2017 in Social Impact Funds
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This chapter presented impact-oriented funds from many prospective: definition, mission, investment strategy, the literature, state of the industry, risks, challenges, drivers for success, and case studies. This overview permits a first investigation of lack of literature on impact funds. The definition of impact-funds mission and investment strategy are still ambiguous; thus, the chapter tries to adapt the OECD (Social impact investment. Building the evidence base, Paris, 2015) definition of social impact investment to impact-oriented funds and provides a firsthand classification of impact-oriented funds split into three categories: commercial impact-oriented funds, non-commercial impact-oriented funds, and quasi-commercial impact-oriented funds.

ACS Style

Helen Chiappini. Impact-Oriented Investment Funds: An Overview. Social Impact Funds 2017, 10, 51 -91.

AMA Style

Helen Chiappini. Impact-Oriented Investment Funds: An Overview. Social Impact Funds. 2017; 10 ():51-91.

Chicago/Turabian Style

Helen Chiappini. 2017. "Impact-Oriented Investment Funds: An Overview." Social Impact Funds 10, no. : 51-91.

Book chapter
Published: 12 May 2017 in Social Impact Funds
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The chapter remarks on the main topics of the book. Specifically, the chapter highlights the main features of impact investing funds, results of the analyses conducted on a sample of funds as well as challenges faced by the impact-funds industry as a whole. Future research needs are also assessed and discussed in line with the scholars’ and practitioners’ perspective.

ACS Style

Helen Chiappini. Concluding Remarks. Social Impact Funds 2017, 155 -163.

AMA Style

Helen Chiappini. Concluding Remarks. Social Impact Funds. 2017; ():155-163.

Chicago/Turabian Style

Helen Chiappini. 2017. "Concluding Remarks." Social Impact Funds , no. : 155-163.

Book chapter
Published: 12 May 2017 in Social Impact Funds
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This chapter aims to synthetically represent the impact-funds industry, classifying impact-oriented funds into homogeneous groups. The cluster analysis methodology and the correspondence analysis are employed in order to carry out this representation. The analysis shows the statistical relevance of three dimensions—mission, geography, and size—and permits the classification of funds into four clusters: neoclassical, futurist, hermetic, and illuminate.

ACS Style

Helen Chiappini. A Market Segmentation of Impact-Oriented Funds. Social Impact Funds 2017, 26, 93 -104.

AMA Style

Helen Chiappini. A Market Segmentation of Impact-Oriented Funds. Social Impact Funds. 2017; 26 ():93-104.

Chicago/Turabian Style

Helen Chiappini. 2017. "A Market Segmentation of Impact-Oriented Funds." Social Impact Funds 26, no. : 93-104.

Book chapter
Published: 12 May 2017 in Social Impact Funds
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The aim of this chapter is to analyze impact funds mission and investment strategy in order to assess whether impact funds show the ‘basic features of impact investing.’ Moreover, this chapter assesses if there are dissimilarities between funds: (1) investing in developing and developed countries; (2) investing in social or environmental sectors; (3) differentiable according to the size parameter. In order to perform this analysis the OECD (Social impact investment. Building the evidence base. Paris, 2015) definition of impact investment has been employed as a ‘standard of minimum requirements’ that any impact investment should demonstrate. A content analysis methodology was applied to answer to the research questions.

ACS Style

Helen Chiappini. How Many Funds Are Really Impact Funds? Social Impact Funds 2017, 132, 105 -138.

AMA Style

Helen Chiappini. How Many Funds Are Really Impact Funds? Social Impact Funds. 2017; 132 ():105-138.

Chicago/Turabian Style

Helen Chiappini. 2017. "How Many Funds Are Really Impact Funds?" Social Impact Funds 132, no. : 105-138.