Collaborative governance in Social Impact Bonds: aligning interests within divergent accountabilities?
通过奥地利社会影响债券试点项目的纵向案例，研究多利益相关方协调利益的过程，揭示其中的问题和成本，并提出评估成功概率的分析框架。
Social Impact Bonds (SIBs) are a novel form of cross-sector collaborations and an alternative way of financing innovative social services. Based on an in-depth longitudinal case analysis and drawing from agency theory as well as resource dependence theory, we examine the process of interest alignment among involved partners over the lifespan of a SIB pilot project in Austria. Our study shows the multitude of problems and costs that such a challenging arrangement of multiple stakeholders brings along, thus dampening overoptimistic expectations in SIBs. We also suggest an analytical framework that improves the assessment of SIBs’ probability of success.