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Open Access
Article
Publication date: 30 August 2023

Helen Chiappini, Nicoletta Marinelli, Raja Nabeel-Ud-Din Jalal and Giuliana Birindelli

The purpose of this study is to analyze the intersection of research on impact investing and its closely related financial vehicles.

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Abstract

Purpose

The purpose of this study is to analyze the intersection of research on impact investing and its closely related financial vehicles.

Design/methodology/approach

The paper explores 196 articles collected from Scopus and Web of Science using bibliometric and content analysis methodologies.

Findings

Despite a growing academic interest in impact investing, scholars generally investigate impact investing as a social phenomenon, using the specific financial mechanism of social impact bonds. This perspective potentially deflates the complex nature of impact investing, which actually combines both social and financial targets and uses a plurality of financial vehicles to reach its goals.

Practical implications

The emerging themes identified will provide both academics and practitioners additional tools to further the debate on impact investing and the understanding of its potential and limits according to the different financial forms it takes. This review should pave the way for a discussion about the boundaries of the social impact sector itself.

Social implications

Despite the strong international commitment toward impact investing, tensions still exist. A comprehensive overview on the relevant aspects not yet thoroughly investigated will foster the growth of impact investments.

Originality/value

To the best of the authors’ knowledge, this is the first holistic overview of impact investing, that jointly examines both literature on impact investing and literature on the correlated financial products used in the industry. The result is a comprehensive report of what is known about impact investing in its different financial forms, opening up new pathways for future studies.

Details

Sustainability Accounting, Management and Policy Journal, vol. 14 no. 7
Type: Research Article
ISSN: 2040-8021

Keywords

Open Access
Article
Publication date: 21 February 2020

Roy Cerqueti, Caterina Lucarelli, Nicoletta Marinelli and Alessandra Micozzi

This paper aims to dismantle the idea that sex per se explains entrepreneurial outcomes and demonstrates the influence of a gendered motivation on forging and shaping new venture…

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Abstract

Purpose

This paper aims to dismantle the idea that sex per se explains entrepreneurial outcomes and demonstrates the influence of a gendered motivation on forging and shaping new venture teams, which is a disruptive choice affecting the future of start-ups.

Design/methodology/approach

A two-level research model is validated on data from the Panel Study of Entrepreneurial Dynamics II (PSED II), with a system of simultaneous equations. First, if team features affect the performance of new ventures is tested; then, the study investigates determinants of team features with a focus on sex and motivation of nascent entrepreneurs.

Findings

Human capital (HC) in terms of education and experience of team members consistently explains venture evolution only when considering the larger team of affiliates. The HC gathered by nascent entrepreneurs is not because of the simplistic sex condition, but rather to a gendered motivation related to the inferior need of achievement of women.

Research limitations/implications

Limitations of discretionary scoring assigned to items of the PSED II survey are present, but unavoidable when processing qualitative data.

Practical implications

Women need to be (culturally) educated on how to re-balance their personal motivation towards entrepreneurship by fostering their incentives for achievement. Political and educational programmes could trigger success in the creation of new businesses led by women.

Originality/value

This paper contributes to the literature on nascent entrepreneurship, focusing on the entrepreneurial teams in the initial phase of business creation, and provides the basis for further studies aimed at eradicating the stereotypes of gender roles that lead women to self-exclusion and organizational errors.

Details

International Journal of Gender and Entrepreneurship, vol. 12 no. 2
Type: Research Article
ISSN: 1756-6266

Keywords

Article
Publication date: 4 November 2014

Gianni Brighetti, Caterina Lucarelli and Nicoletta Marinelli

The purpose of this paper is to explore how psychological variables are related to real-life insurance consumption. Specifically, the authors focus on whether emotions and…

2346

Abstract

Purpose

The purpose of this paper is to explore how psychological variables are related to real-life insurance consumption. Specifically, the authors focus on whether emotions and psychological traits can improve the predictability of insurance demand, taking traditional socioeconomic variables under control.

Design/methodology/approach

The approach used was in-person survey, based on a traditional questionnaire, the Barratt Impulsiveness Scale and a psycho-physiological task (Iowa Gambling Task (IGT)).

Findings

A selective role of emotions and psychological traits has been proven to exist when comparing different insurance policies. Life and casualty insurance are affected by emotional arousal to losses; indemnity insurance by fear of the unknown, whereas health insurance by impulsivity.

Research limitations/implications

The findings indicate that individual insurance consumption may be amplified by not cognitive components. Future research should concentrate on testing the effect of further psychological traits related to pure risk coverage.

Practical implications

The results may be of interest for insurers in order to know what drives insurance demand with respect to different kinds of pure risks.

Social implications

For policymakers, it is important to understand how psychological factors affect consumer behavior in order to incorporate such perspective into modern insurance policy measures. An analysis of such factors may also increase the self-consciousness of insurance consumers and enrich consumer self-protection.

Originality/value

The authors propose an interdisciplinary approach to analyze insurance demand and test different kinds of insurance coverage, suggesting not homogenous hedging behaviors in relation to specific ambiguous events.

Details

Review of Behavioral Finance, vol. 6 no. 2
Type: Research Article
ISSN: 1940-5979

Keywords

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