Intermediary perceptions of investment readiness in the UK social investment market

Richard Hazenberg, Frederick A Seddon, Simon Denny

Research output: Contribution to journalArticleResearchpeer-review

Abstract

The ‘social investment market’ in the United Kingdom is a growth area due to the governments’ focus upon building up the supply-side element of the market over the last decade, often through the direct financing of ‘social and investment finance intermediaries’ (SIFIs). However, this ignores problems that can occur on the demand-side of the social investment market, such as a lack of ‘investment readiness’ amongst social enterprises seeking investment. Indeed, whilst there is now a significant body of policy-based and practitioner research exploring the social investment market, there remains a paucity of empirical academic research. The research reported in this paper sought to explore SIFI perceptions of what constituted investment readiness in the social investment market. Semi-structured interviews were held with the fund managers (or relevant personnel) at 15 SIFIs in order to explore what they believed constituted investment readiness and how they assessed this. The results indicate that the conception of investment readiness in the social investment market is similar to that held in mainstream financial markets. The results are discussed in relation to the prior literature and theories of the social investment market.
Original languageEnglish
JournalVOLUNTAS: International Journal of Voluntary and Nonprofit Organizations
Volume26
Issue number3
Early online date5 Aug 2014
DOIs
Publication statusPublished - 1 Jun 2015

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Readiness
Intermediaries
Finance
Financing
Supply side
Personnel
Financial markets
Fund managers
Conception
Social enterprise
Structured interview
Government
Academic research

Keywords

  • Social finance
  • social enterprise
  • social investment
  • investment readiness
  • UK

Cite this

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abstract = "The ‘social investment market’ in the United Kingdom is a growth area due to the governments’ focus upon building up the supply-side element of the market over the last decade, often through the direct financing of ‘social and investment finance intermediaries’ (SIFIs). However, this ignores problems that can occur on the demand-side of the social investment market, such as a lack of ‘investment readiness’ amongst social enterprises seeking investment. Indeed, whilst there is now a significant body of policy-based and practitioner research exploring the social investment market, there remains a paucity of empirical academic research. The research reported in this paper sought to explore SIFI perceptions of what constituted investment readiness in the social investment market. Semi-structured interviews were held with the fund managers (or relevant personnel) at 15 SIFIs in order to explore what they believed constituted investment readiness and how they assessed this. The results indicate that the conception of investment readiness in the social investment market is similar to that held in mainstream financial markets. The results are discussed in relation to the prior literature and theories of the social investment market.",
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Intermediary perceptions of investment readiness in the UK social investment market. / Hazenberg, Richard; Seddon, Frederick A; Denny, Simon.

In: VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations, Vol. 26, No. 3, 01.06.2015.

Research output: Contribution to journalArticleResearchpeer-review

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AB - The ‘social investment market’ in the United Kingdom is a growth area due to the governments’ focus upon building up the supply-side element of the market over the last decade, often through the direct financing of ‘social and investment finance intermediaries’ (SIFIs). However, this ignores problems that can occur on the demand-side of the social investment market, such as a lack of ‘investment readiness’ amongst social enterprises seeking investment. Indeed, whilst there is now a significant body of policy-based and practitioner research exploring the social investment market, there remains a paucity of empirical academic research. The research reported in this paper sought to explore SIFI perceptions of what constituted investment readiness in the social investment market. Semi-structured interviews were held with the fund managers (or relevant personnel) at 15 SIFIs in order to explore what they believed constituted investment readiness and how they assessed this. The results indicate that the conception of investment readiness in the social investment market is similar to that held in mainstream financial markets. The results are discussed in relation to the prior literature and theories of the social investment market.

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