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Policymakers worldwide have proposed a new contract – the ‘social impact bond’ (SIB) – which they claim can allay the underperformance afflicting not-for-profits, by tying the private returns of (social) investors to the success of social programs. We investigate experimentally how SIBs perform in a first-best world, where investors are rational and able to obtain hard information on not-for-profits’ performance. Using a principal-agent multitasking framework, we compare SIBs to inputs-based contracts (IBs) and performance-based contracts (PBs). IBs are based on a piece-rate mechanism, PBs on a non-binding bonus mechanism, and SIBs on a mechanism that, due to the presence of an investor, offers full enforceability. Although SIBs can perfectly enforce good behaviour, they also require the principal (i.e., government) to relinquish control over the agent’s (i.e., not-for-profit’s) payoff to a self-regarding investor, which prevents the principal and agent from being reciprocal. In spite of these drawbacks, in our experiment SIBs outperformed IBs and PBs. We therefore conclude that, at least in our laboratory test-bed, SIBs can allay the underperformance of not-for-profits.

In recent years, the business of container lines has faced severe challenges such as overcapacity and low profitability. To survive in such a competitive market, container lines need to maintain long-term customer relationships by enhancing the satisfaction and loyalty of customers. The purpose of this paper is to adopt a social exchange theory (SET) approach and investigate the impact of relational bonding strategies on the satisfaction and loyalty of customers in container shipping.

Drawing on SET, a theoretical model that specifies the relationships between relational bonding strategies, customer satisfaction and loyalty was proposed. Survey data were collected from 175 freight forwarders. The obtained data were analyzed using structural equation modelling.

The results indicate that financial bonding strategies have the most significant direct effects on customer satisfaction, while social bonding strategies have the strongest direct impact on customer loyalty. Financial bonding strategies, on the other hand, have the strongest total effects on customer loyalty. Intermodal and basic operations are found to have the equal total effects on customer loyalty.

By identifying the most effective relational bonding strategies for enhancing customer satisfaction and loyalty, this study’s findings allow container lines to better allocate their resources and implement effective relational marketing policies to satisfy and retain their customers.

This research analyses and validates the determinants of customer satisfaction and loyalty from a relational lens and empirically contributes to the field of relational marketing in the container shipping industry.

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

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

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.

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.

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.

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.

To gain competitive advantage, shipping companies need the abilities to manage environmental requirements, which this study refers to as sustainable shipping capabilities, including internal resources and external factors such as inter-firm collaboration. However, previous studies mainly focused on the effectiveness of internal resources, leading decision-makers in shipping companies to undervalue the significance of external relationships in managing sustainability issues and their impact on performance. Therefore, this paper aims to identify and examine the impacts of sustainable inter-firm collaboration on shipping companies' business performance (i.e. shippers' loyalty and financial performance).

A proposed model that explains the relationships between relation bonding strategies, sustainable inter-firm collaboration and business performance was developed. Accordingly, a survey questionnaire was constructed and sent to 294 shipping companies in Vietnam. Structural equation modeling was deployed to examine the validity of the measurement items and investigate relationships among the latent constructs.

The findings show that financial bonding strategies have the most significant impact on sustainable inter-firm collaboration, followed by social bonding strategies and structural bonding strategies. Furthermore, sustainable inter-firm collaboration has direct and indirect (via perceived shippers' loyalty) effects on business performance.

Relational bonding strategies provide a unique perspective to sustainable inter-firm collaboration. This study also contributes to allocate external resources and capabilities to improve inter-firm collaboration, thereby maximizing financial performance.

This paper contributes to the literature by applying relational bonding strategies that determine the key factors enabling sustainable inter-firm collaboration.

Research on how social bonding between boundary spanners influences relationship outcomes in business-to-business (B2B) settings is sparse and controversial. This longitudinal study aims to close this gap and assess the impact of social bonding on the share of wallet and actual cross-buying behaviour.

B2B relationships between a manufacturer of light commercial vehicles and its customers were investigated. A random sample of fleet managers answered two telephone surveys.

Social bonding was found to affect both investigated relationship outcomes, share of wallet and cross-buying, through the generation of trust over and above the customer’s perceptions of value.

Only one product category was investigated in this study, and further research should explore boundary conditions for the relevance of social bonding in B2B.

Social bonding represents one lever (next to value perceptions) for building a competitive advantage in a B2B context. Relationship marketing activities that are intended to strengthen the development of social bonds between customers and account managers should be encouraged.

The authors provide clear evidence regarding the disputed impact of social bonding between boundary spanners on relationship outcomes in B2B relationships by testing its impact on real purchase behaviour and not only purchase intentions, as is the case in most published studies to date.

The marketing literature theorizes the adoption of the relationship marketing paradigm to foster stronger customer relationships. However, empirical evidence is scarce on how consumers' ability to judge the service influences such relational exchange. This paper aims to examine how information asymmetry influences a service firm's initiative to build customer relationships. The relationship marketing literature proposes conceptually that relational bonds and their interaction influence relationship outcomes. However, there is no empirical study to verify such an interactive effect. This study aims to provide empirical evidence on how interaction effects between relational bonds can act as buffers in developing customer relationships.

In the first stage, this study classifies financial services offered by retail banks into search, experience, and credence (SEC) categories. In the second stage, this paper uses survey data from 452 UK retail bank customers to understand the effect of relational bonds on consumer future intentions in information asymmetry context using hierarchical regressions.

The results show that relational bonds have differential impacts on firms' initiative to develop consumer relationship, and information asymmetry moderates this relationship. A positive synergistic association is present between relational bonds that strengthen their effectiveness in influencing relationships.

This study is the first attempt to demonstrate the moderation role of information asymmetry on relational bonds→relationship quality→relationship outcome framework. The findings provide directions to managers on how to have a balanced approach in their relationship building efforts.

The purpose of this paper is twofold: first, to investigate the role of perceived risk as a moderator of the key relational mediators of satisfaction and trust, and second, to test the influence of perceived product value and social bonding as antecedents of brand satisfaction and brand trust to understand their effectiveness under different risk conditions. Palmatier et al. (2006) call for the study of moderators of relational mediators, such as trust and satisfaction, which may determine the effectiveness of different relationship marketing strategies.

This study investigates business-to-consumer relationships between a car brand and its customers, applying structural equation modeling.

Results show that perceived risk moderates the mediating role of both brand trust and brand satisfaction on relationship outcomes. When perceived risk is low, brand satisfaction alone determines brand loyalty, whereas when perceived risk is high, brand trust exclusively determines brand loyalty. Thus, the effectiveness of social bonding tactics as a prime determinant of trust is contingent on consumers’ risk perceptions.

A limitation of the present research is its focus on one product category. Further investigations should be conducted to expand the findings’ generalizability.

The often-recommended social bonding between boundary spanner and customers is only an effective relationship marketing strategy in situations of high perceived risk.

This study clarifies the role of perceived risk in marketing relationships by testing alternative models.

This study is a comparison of male and female delinquent behaviors utilizing a large sample in a test of social control theory.

A sample of 8,363 adolescent 10th graders was drawn from the U.S. National Educational Longitudinal Study (NELS). The sample consisted of 3,774 males and 4,589 females. This work utilized logistic regression and ordinary least squares to determine whether adolescent behaviors such as smoking cigarettes, drinking alcohol, using marijuana, and other delinquent behaviors are linked to weak social bonds.

The findings of this study provide limited substantiation of social control theory for both sexes. Females who were found to have strong social bonds were less likely to engage in delinquent behaviors than males. For both sexes, the strongest element of the social bond was the element of belief.

These results may be specific to the United States.

Understanding contributing factors to adolescent substance use and delinquency will assist in developing social policy that will support families.

This study provides insight into the differentiated nature of the social bond for males and females. Knowing that belief is an integral component in determining the strength of the social bond will aid in the development of social policies.

Public services and activities delegated to non-profit actors are increasingly subject to evaluation. This practice is not new. Seminal papers document the emergence of such practices in Anglo-Saxon countries in the 1920s. Methods are now converging on measuring the (social) impact, which often involve broadening the spectrum of components evaluated. The flexible and unifying term ‘impact’ is now adopted in public services, education, health and research, as well as in the social economy and finance sectors through impact investing. This is based on extending the spirit of an efficient State, from the expansion of service productivity measures in the 1960s to the expansion of social assessment practices of CSR. To ensure impact measurement, action programmes (both public and private) are now split into a sum of (small) projects whose common denominator is that they are precisely circumscribed to ensure rigorous evaluation. The social impact can be assimilated with a new mode of regulation, the aim of which is to reconcile the requirements of these different actors in evaluative practice, and to almost magically (i.e., by overlooking the intense social work required) align the search for economic efficiency and the pursuit of a social purpose. In this respect, social impact bonds are a heuristic illustration of the trend, bringing together the interests of private funders, public authorities and social economy actors in a single contract, with the ‘evaluator’ playing a decisive role in coordinating this new alliance.

The primary objectives of this article are to systematically explore whether and how certain WeChat use motives could lead to bridging social capital, bonding social capital and civic engagement among young people.

The data was collected from a large-scale online survey of 1208 young people in mainland China. Zero-order correlation analyses and structural equation modeling were carried out to examine the corresponding hypotheses.

Obtained findings show that WeChat use for informational and social motivations are positively associated with bonding and bridging social capital. Moreover, bonding social capital could mediate the relationship between WeChat usage for informational and relational motivations and civic engagement.

Theoretically, this article underlines the unique social and technological affordances of WeChat by exploring mobile social media use and how it would contribute to the quality of democracy by fostering young people's engagement in civic life. Practically, bridging and bonding social capital play significant roles in enhancing young people's civic engagement, which could be the meaningful resource for mobile social media designers, managers and government officials.

These obtained outcomes underlined the vital role of these newly emerging communication technologies in fostering democratic involvement and production of social capital in contemporary socially networked society.