SIB. What does it really mean? A theoretical approach on Social Impact Bonds

Research into public value creation is advancing. A new field of interest consists in the use of Social Impact Bonds (SIBs) as a social finance scheme and in the analysis of its ability to enhance collaborative relationships for public value creation. The research objective is twofold. Firstly, it aims to frame SIBs in public management studies. The second goal is to provide an analytical tool to assess the feasibility and effect of SIBs. The research provides a formal model proposal that shows key variables, their interactions and the conditions of success of a SIB within the context of value co-creation.