Negócios sociais e investimento de impacto: um estudo sobre as percepções dos atores do ecossistema
Notice bibliographique
Résumé
Commonly, the creation of economic and financial value has been attributed to companies acting in the capitalist market relations while the creation of social value has been attributed to third sector organizations. This seeming duality is being questioned in the light of entrepreneurship, causing the emergence of the impact investing phenomenon as an alternative that allows capital to be allocated to initiatives and ventures, the so-called social businesses, which aim to create positive social impact together with financial returns. The rise of investors and entrepreneurs of social businesses has caused controversies and reflections about the impact evaluation, the rate of return for impact investments, and also the core concepts that support investment operations, such as social value and socio-environmental impact. In this scenario, this study aimed to analyze the perceptions of different groups of actors within the Brazilian social business and impact investing ecosystem related to these themes and their experiences in the sector -challenges, opportunities, and learnings. An exploratory research of qualitative approach has been designed, which research problem was a survey of opinions, perceptions and expectations of representatives of three groups of actors of this ecosystem: investors interested in social businesses; entrepreneurs and executives from social businesses; and representatives from intermediary organizations, such as accelerators and investment funds. Based on the construction of a theoretical framework and the analysis of secondary data on the studied phenomenon, a primary research has been conducted applying a script for semistructured interview in an intentional sample of eighteen people. The analysis of the answers showed that there is a great diversity of understandings about the concept of social value and that some interviewees tend to use this term as a synonym for social impact. Most of the interviewees highlighted elements related to access to education, health services, and citizenship rights. But none of them referred to the solid waste management as a generator of social value. Perhaps because these are relatively recent ventures, it was not possible to identify the extent to which impact investors are contributing to the growth of social value creation to the final beneficiaries. However, all social businesses that received impact investments stated that investors are contributing to the development of their businesses. Regarding the rate of return on investment, the respondents' opinions diverged, but most of them understood that, in the medium and long term, rates of return should follow average market rates. The preinvestment impact evaluation is still more approximate than based on social impact metrics, but all actors from the groups of investors and of social businesses which received investments stated that the generation of social value is monitored by investors after capital contribution. The main challenges are the access and volume of capital, the constraints of the Brazilian economic context, and the immaturity of the sector. However, all of them consider that the social business sector and impact investments have a promising future in Brazil, whether due to the need to solve the numerous social and environmental problems or due to the size of the market of potential beneficiaries of these initiatives. In this sense, this work hopes to contribute to the theoretical and practical advancement of the issues and dilemmas faced by the social entrepreneurship and the impact investment sector, as well as to foster the Brazilian Social Finance ecosystem.
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Comment cette classification a été obtenuedéplier
Prédiction distillée sur la base complète
Imitation des enseignantsNi prévalence calibrée, ni vérité terrain. Validation humaine à venir. Apprise à partir de 10 348 étiquettes directes de Codex et de 10 348 étiquettes directes de Gemma. Le mode candidate est l'union des têtes enseignantes seuillées; le consensus est leur intersection. Ces sorties portent le statut machine_predicted_unvalidated et ne sont ni des étiquettes humaines ni des étiquettes directes de modèles de pointe.
Scores Codex et Gemma par catégorie
| Catégorie | Codex | Gemma |
|---|---|---|
| Métarecherche | 0,002 | 0,001 |
| Méta-épidémiologie (sens strict) | 0,001 | 0,001 |
| Méta-épidémiologie (sens large) | 0,002 | 0,001 |
| Bibliométrie | 0,001 | 0,000 |
| Études des sciences et des technologies | 0,003 | 0,000 |
| Communication savante | 0,003 | 0,001 |
| Science ouverte | 0,002 | 0,000 |
| Intégrité de la recherche | 0,002 | 0,001 |
| Charge utile insuffisante (le modèle a refusé de juger) | 0,008 | 0,004 |
Scores machine (provisoires)
Les deux têtes enseignantes du modèle étudiant, lues sur ce travail. Un score ordonne la base pour la relecture; il n'affirme jamais une catégorie, et le statut de validation accompagne chaque rangée tel quel.
Scores de référence d'un modèle non mature (critères de maturité non atteints, 7 itérations). Un score ordonne; il n'affirme jamais une catégorie.
score_only:v0-immature-baseline · tel quel depuis la passe de notation : score_only signifie que le nombre peut ordonner les travaux, et qu'aucune étiquette de catégorie n'en découleClassification
machine, non validéePrédiction automatique; les deux têtes enseignantes s’accordent sur ce qui est montré ici.
Le détail, modèle par modèle et score par score, se trouve en fin de page sous « Comment cette classification a été obtenue ».