Unmasking the barriers to financing social enterprises
Author
Magomedova, Nina
Bastida-Vialcanet, Ramon
Publication date
2022ISSN
0957-8765
Abstract
The institutional complexity of social enterprises (SEs) often hinders their access to financing from conventional investors. To align the interests of SEs and their investors, innovative investment instruments of social finance are emerging. However, there is evidence of a mismatch between the financial needs of SEs and the instruments offered by social finance entities (SFEs). The analysis of 34 SEs and 6 SFEs through the lens of agency theory shows that some barriers are caused by contradictory agent—steward models of behaviour, whereas others are deficiencies of the SE sector in general. The study demonstrates that the SE financing gap is a complex problem that requires multifaceted solutions.
Document Type
Article
Document version
Published version
Language
English
Subject (CDU)
3 - Social Sciences
Keywords
Empresa social
Finances socials
Teoria de l'agència
Inversió d'impacte
Impacte social
Organitzacions sense ànim de lucre
Empresa social
Finanzas sociales
Teoría de la Agencia
Inversión de impacto
Impacto social
Organizaciones sin ánimo de lucro
Social enterprise
Social finance
Agency theory
Impact investing
Social impact
Non-profit organizations
Pages
10
Publisher
Springer Nature
Collection
33
Is part of
VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations
Citation
Magomedova, Nina; Bastida-Vialcanet, Ramon. Unmasking the barriers to financing social enterprises. VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations, 2022, 33, p. 550-560. Disponible en: <https://link.springer.com/article/10.1007/s11266-022-00498-z>. Fecha de acceso: 26 ene. 2024. DOI: 10.1007/s11266-022-00498-z
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