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Financing of Social Entrepreneurship

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Social Entrepreneurship and Social Business

Zusammenfassung

Learning goals

Upon completing this chapter, you should be able to accomplish the following:

  • Describe the characteristics of the financing structure of social enterprises.

  • Explain the financing instruments available for social enterprises.

  • Describe the financing institutions in the social capital market.

  • Explain the trade-off between social and financial return.

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Further Reading

  1. Achleitner, A.-K., Heinecke, A., Noble, A., Schöning, M. and Spiess-Knafl, W. (2011) "Social Investment Manual", online: http://ssrn.com/abstract=1884338.

  2. Fama, E.F. and Jensen, M.C. (1983), "Agency problems and residual claims", in Journal of Law and Economics, vol. 26, no. 2, pp. 327–349.

    Article  Google Scholar 

  3. Fedele, A. and Miniaci, R. (2010), "Do Social Enterprises Finance Their Investment Differently from For-profit Firms? The Case of Social Residential Services in Italy", in Journal of Social Entrepreneurship, vol. 1, no. 2, pp. 174–189.

    Article  Google Scholar 

  4. Fischer, R.B., Wilsker, A.L. and Young, D.R. (in press), "Exploring the Revenue Mix of Nonprofit Organizations: Does it Relate to Publicness" in Nonprofit and Voluntary Sector Quarterly, online: http://nvs.sagepub.com/content/early/2010/04/08/0899764010363921.abstract, accessed date: 06/05/2011.

  5. Foster, W. and Fine, G. (2007), "How Nonprofits Get Really Big", in Stanford Social Innovation Review, Spring 2007. pp. 46–55.

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  6. Jäger, U. (2010), Managing Social Businesses - Mission, Governance, Strategy and Accountability, Palgrave Macmillan, Houndmills, New York.

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Bibliography

  1. Achleitner, A.-K., Heister, P. and Spiess-Knafl, W. (2010), "Venture Philanthropy und Sozialunternehmertum", in Hoelscher, P., Ebermann, T. and Schlüter, A. (eds.), Venture Philanthropy in Theorie und Praxis, Lucius & Lucius, Stuttgart, pp. 81–89.

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  2. Achleitner, A.-K., Spiess-Knafl, W. and Volk, S. (2011), "Finanzierung von Social Enterprises - Neue Herausforderungen für die Finanzmärkte", in Hackenberg, H. and Empter, S. (eds.), Social Entrepreneurship - Social Business: Für die Gesellschaft unternehmen, VS Verlag, Wiesbaden, pp. 269–286.

    Chapter  Google Scholar 

  3. Bolton, E. and Savelle, L. (2010), "Towards a new social economy - Blended value creation through social impact bonds", online: http://www.socialfinance.org.uk/sites/default/files/Towards%20A%20New%20Social%20Economy%20web.pdf, accessed date: 06/05/2011..

  4. Carrick-Cagna, A.-M. and Santos, F. (2009), "Social vs. Commercial Enterprise: The Compartamos Debate and the Battle for the Soul of Microfinance", online: http://www.insead.edu/facultyresearch/centres/social_entrepreneurship/research_resources/documents/compartamosfinal-w.pdf, accessed date: 06/05/2011.

  5. CIC Regulator (2010), "Information Pack", online: http://www.cicregulator.gov.uk/guidance.shtml, accessed date: 06/05/2011.

  6. Dialogue Social Enterprise (2011), "What do we do?", online: http://www.dialoguese.com/what/what-do-we-do, accessed date: 06/05/2011.

  7. European Venture Philanthropy Association (EVPA) (2010), "European Venture Philanthropy Directory 2010/2011", online: http://evpa.eu.com/wp-content/uploads/2010/11/EVPA-Directory-2010-113.pdf, accessed date: 06/05/2011.

  8. Heister, P. (2010), Finanzierung von Social Entrepreneurship durch Venture Philanthropy und Social Venture Capital, Wiesbaden.

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  9. John, R. (2006), "Venture Philanthropy - The Evolution of High Engagement Philanthropy in Europe", online: http://www.sbs.ox.ac.uk/centres/skoll/research/Documents/Venture%20Philanthropy%20in%20Europe.pdf, accessed date.

  10. Letts, C., Ryan, W. and Grossman, A. (1997), "Virtuous Capital: What Foundations Can Learn from Venture Capitalists" in Harvard Business Review, vol. 75, no. 2, pp. 36–44.

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  11. Palandjian, T. (2010), "Investing for impact: Case studies across asset classes", online: http://www.parthenon.com/ThoughtLeadership/InvestingforImpactCaseStudiesAcrossAssetClasses, accessed date: 06/05/2011.

  12. Sargeant, A., Lee, S. and Jay, E. (2009), "Communicating the "Realities" of Charity Costs: An Institute of Fundraising Initiative", in Nonprofit and Voluntary Sector Quarterly, vol. 38, no. 2, pp. 333–342.

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  13. Schwartz, R. (2006), "Profit taboo in social enterprise country?", in Alliance, vol. 11, no. 3, pp. 31–32.

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Author information

Authors and Affiliations

  1. KfW Endowed Chair in Entrepreneurial Finance Center for Entrepreneurial and Financial Studies (CEFS), Technische Universität München, München, Germany

    Wolfgang Spiess-Knafl & Ann-Kristin Achleitner

Authors
  1. Wolfgang Spiess-Knafl
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  2. Ann-Kristin Achleitner
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Editor information

Editors and Affiliations

  1. Schumpeter School of Business & Economic, University of Wuppertal, Gaußstr. 20, Wuppertal, 42119, Germany

    Christine K. Volkmann

  2. Section Business an Administration, Bern University of Applied Sciences, Morgartenstraße 2c, Bern, 3014, Switzerland

    Kim Oliver Tokarski

  3. Schumpeter School of Business & Economic, University of Wuppertal, Gaußstr. 20, Wuppertal, 42119, Germany

    Kati Ernst

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© 2012 Gabler Verlag | Springer Fachmedien Wiesbaden

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Spiess-Knafl, W., Achleitner, AK. (2012). Financing of Social Entrepreneurship. In: Volkmann, C., Tokarski, K., Ernst, K. (eds) Social Entrepreneurship and Social Business. Gabler Verlag. https://doi.org/10.1007/978-3-8349-7093-0_8

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