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Ao longo do tempo atribuiu-se a geração de valor econômico-financeiro às organizações empresariais atuantes no mercado das relações capitalistas e a geração de valor social às organizações do terceiro setor. Essa aparente dualidade vem sendo questionada no âmbito do empreendedorismo, provocando o surgimento do fenômeno do investimento de impacto como uma alternativa que possibilita a alocação de capital em iniciativas e empreendimentos, os chamados negócios sociais, que visam criar impacto social positivo acompanhado de retorno financeiro. A emergência de investidores e empreendedores de negócios sociais tem provocado polêmicas e reflexões acerca da avaliação de impacto, da taxa de retorno do investimento de impacto e também de conceitos essenciais para fundamentar as operações de investimento, como valor social e impacto socioambiental. Neste cenário, o presente trabalho teve como objetivo analisar as percepções dos diferentes grupos de atores do ecossistema brasileiro de negócios sociais e investimento de impacto sobre esses temas e sobre suas experiências no setor - desafios, oportunidades e aprendizados. Foi desenhada uma pesquisa exploratória de abordagem qualitativa, cujo problema de investigação foi o levantamento de opiniões, percepções e expectativas de representantes de três grupos de atores desse ecossistema: investidores interessados em negócios sociais; empreendedores e executivos de negócios sociais; e representantes de organizações intermediárias, como aceleradoras e fundos de investimento. A partir da construção de um referencial teórico e da análise de dados secundários sobre o fenômeno estudado, realizou-se o levantamento de dados primários aplicando-se um roteiro para entrevista semiestruturada em uma amostra intencional composta por dezoito pessoas. A análise das respostas evidenciou que há uma grande diversidade de entendimentos sobre o conceito de valor social e que alguns entrevistados tendem a usar esse termo como sinônimo de impacto social. A maioria dos entrevistados ressaltou elementos relacionados ao acesso à educação, aos serviços de saúde e aos direitos de cidadania. Mas nenhum se referiu à gestão de resíduos sólidos como elemento gerador de valor social. Talvez por se tratar de empreendimentos relativamente recentes, não foi possível identificar em que grau os investidores de impacto estão contribuindo para que esses negócios potencializem a geração de valor social aos beneficiários finais. No entanto, todos os negócios sociais que receberam investimento de impacto afirmaram que os investidores estão contribuindo para o desenvolvimento de seus negócios. Sobre a taxa de retorno do investimento, as opiniões dos entrevistados divergiram, mas a maioria deles entende que, no médio e longo prazo, as taxas de retorno deveriam seguir as taxas médias de mercado. A avaliação de impacto pré-investimento ainda é mais aproximativa do que baseada em indicadores de impacto social, porém todos os atores dos grupos de oferta de capital e demanda de capital que receberam investimento afirmaram que a geração de valor social é monitorada pelos investidores após o aporte de recursos. Os principais desafios apontados foram o acesso e o volume de capital, as restrições próprias do contexto econômico brasileiro e a imaturidade do setor. Todos consideram, porém, que o setor de negócios sociais e os investimentos de impacto têm futuro promissor no Brasil, seja pela necessidade de resolução dos inúmeros problemas sociais e ambientais, seja pelo tamanho do mercado de potenciais beneficiários dessas iniciativas. Nesse sentido, o presente trabalho espera contribuir para o avanço teórico e prático das questões e dilemas enfrentados pelo empreendedorismo social e pelo setor de investimento de impacto, bem como para fomentar o ecossistema brasileiro de Finanças Sociais. / 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 semi-structured 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 pre-investment 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.

Increased development pressure in inner city areas of many Australian and North American cities has resulted in the loss of locally valued cultural landscapes. Accompanying this process is palpable concern by local residents that their values have not been taken into account. While architectural and historical values are well recognised by heritage and planning practitioners, less tangible social values are often ignored. This thesis argues that a gap has formed between the process through which people interact with place and the process of landuse planning. The aim of the research is to critically examine this gap. Pyrmont and Ultimo, an inner city redevelopment area of Sydney, provides a context of rapid social and physical change. Open-ended, unstructured and semi-structured interviews with residents of Pyrmont and Ultimo, and professionals involved in planning and development provide insight into perspectives about the consideration of social values in landuse planning. The results indicate that the loss of valued places may have physical and social implications on people and place including loss of local character and identity, increased conflict, resident anxiety and disillusionment with planning processes. Residents and planners develop strategies for coping, but these do little to improve limited information flow and understanding. Bridging the gap between the two processes calls for a stronger link between heritage conservation and planning, in addition to planning reform. The research suggests the need for formal landuse planning to recognise the value of situational knowledge and social significance, rather than rely on technical expertise and physical fabric. Efforts spent on refining methods for identification and assessment of social value may be better directed towards developing and improving methods for integrating the concept of social value into the planning framework.

This thesis investigated how information on a firm’s website presented with richmedia employee testimonials differs compared to a poor media descriptioncommunicating the same content in its ability to positively influence potential jobseekersperceptions about a firms employer brand values, in particular social valuedue to its potential in differentiation. A problem was identified being that firms areexperiencing difficulties with communicating social value of the firm to potential jobseekers. The authors used a mixed-method research design containing explorativeexpert interviews, an explanatory experiment where potential job-seekers wereexposed to two different versions of a firms’ website (one containing rich mediaemployee testimonial, and one containing a written text description of the samecontent), and a number of focus groups with the aim to further explain the findingsfrom the experiment. The findings indicate that rich media employee testimonials embedded in afirm's website increase potential job-seekers perceptions about a firm in terms of bothsocial value and identification with the firm. These findings suggest that firms shouldconsider using rich media employee testimonials on their career websites as analternative to the more commonly used poor media written descriptions.

Despite growing concerns for environmental crisis and the recent economic downturns, worldwide appetite for luxury goods has remained stable and has even grown dramatically in some countries. Luxury goods implicitly convey certain meanings and norms. What are psychological and behavioural consequences of exposure to luxuries? In this proposal, I argue that exposure to luxury goods increases cognitive accessibility of constructs relate to self-interest and subsequently affects social judgments and behaviour. I aim to establish a theoretical conjunction between (a) anthropology’s study of material culture, which focuses on material evidence in attributing human cultures, and (b) psychology’s priming technique, which examines the effects of activated cognitive representations on psychological responding. Accordingly, three studies were conducted to investigate the implicit link of luxury and self-interest. The results showed that exposure to luxury primes automatically activated mental associations relate to self-interest and subsequently increased one’s propensity to allocate more resources to oneself relative to another person (study 1), caused some harvesters to defect in a multi-stage N-person commons dilemma (study 2), but did not necessarily induce unethical behaviour aimed to harm others (study 3). Research about the psychological effects of luxury goods are important because luxuries are implicitly embedded in institutional settings and organizational environments in which negotiations are typically conducted and resource allocation decisions are made. / Graduate / 0621 / 0623 / 0451 / angelch@uvic.ca

There were several attempts to conceptualize the social value creation process. Previous literature does not commonly consider a non-material approach, using mainly quantitative practices which are not in line with the characteristics of social value. This thesis contributes to the current social value creation studies in two ways. The first centers the subjectivity of social value as a phenomenon embedded in space and time which calls for distinctive ways of understanding its creation. Here the research approaches the hedonic perspective of well-being as a processual phenomenon which makes possible to explore the way social value is created from beneficiaries’ perspective. The second contribution is an empirical study within a voluntary program in order to explore how the beneficiaries’ subjective well-being unfolds over time. In this setting, where impoverished people deal with satisfying their basic needs, a process approach reveals the emotionally loaded context and the complexity of the social value creation. Thereby, the main emphasis of this thesis is to put on a deeper theoretical discussion of the concept of social value creation. The result of this research is an understanding of social value creation as a subjective construct centered on how the process uncovers unique moments experienced by people.

Inom psykologin har det länge varit intressant att studera personligheter för att förklara individers beteenden. Ett välstuderat beteendemönster är om personer är prosociala eller inte. Prosociala är generösa mot andra och icke-prosociala ser till sin egen vinning. Tidigare studier har visat att personlighetsegenskaper som Big Five och socioekonomisk status kan påverka en persons generositet och förmodligen predicera prosocialitet. Syftet med studien var att undersöka vilka personlighetsegenskaper som predicerar att en person är prosocial. Social önskvärdhet kontrolleras för att se om personer som beter sig socialt önskvärt även var prosociala. Social Value Orientation, ett ekonomiskt spel, användes i studien för att mäta om en person var prosocial. Resultatet baserades på 131 undersökningsdeltagares svar på en enkät. En multipel regressionsanalys visade att ingen prediktor förutom socioekonomisk status var relaterad till om en person var prosocial. Dock gick samtliga variabler i förutspådd riktning vilket är värt att lyfta fram.

As consumers seek social status through displays of mindful consumption, it becomes common to observe a new type of environmentally responsible but conspicuous behavior called conspicuous conservation. Intentionally engaging in environmental activities to show off your `greenness' or over-spending on green products to display your ability to support environmental causes is an example of conspicuous conservation. Given the recent consumer trend involved in green consumption, the study begins with the question of whether consumers' value orientations explain their environmentally conscious behaviors, including their responses to environmental claims in advertising and intentions to purchase a green product. Based on theoretical premises, the study hypothesizes that consumers driven by self-enhancement (proself) values are more likely to respond to a green product whose consumption is primarily seen in public, promoting strong public self-awareness, rather than a product whose consumption is mainly in private and proself-oriented consumers are more likely to respond to green claims that bring immediate benefits than distant and uncertain benefits to the environment. The results of the online experiment confirm that there is a main effect of social value orientations on consumers' environmentally conscious behavior, including attitudinal and behavioral responses regarding green advertising and green products. Specifically, public self-awareness is a significant moderator, indicating proself-oriented consumers generally show less favorable attitude and behavioral responses with regard to green advertising and green purchase than prosocial-oriented consumers; however, when an advertised product and its consumption is mainly seen in public, promoting strong public self-awareness, proself-oriented consumers change their attitudes and behavioral responses in a positive direction. The study has several contributions to the current stream of environmental advertising research and practice. First, the study establishes the relationship between social value orientations and green advertising effectiveness. Second, the study identifies that conspicuous conservation can be explained with social value orientations and public self-awareness. Last, the finding of the study suggests that social value orientations help marketers understand the consumers' underlying motivations and to know whether greenness is an appropriate selling attribute. Further, the marketers can understand how the consumers' value orientations could be incorporated into the brand communications.

The fact of racial injustice in the US presents the difficult question of which emotional responses are (conceptually) appropriate to the perpetration of that injustice. Given that our answer must be informed by the nature of the injustice, this paper takes up Christopher Lebron’s diagnosis of the persistence of racial injustice against blacks in the US as a problem of social value in order to analyze a candidate response on the part of black americans. If Lebron’s theory accurately describes the problem, then it seems that anger appropriately responds to the injustice. The paper’s aim, then, is to give a positive account of black anger in response to the problem of social value. The account is informed by an analysis of “angry black literature,” i.e. a selection of essays from W. E. B. Du Bois, James Baldwin, and Audre Lorde. Approaching the subject within the framework of analytic philosophy, the paper concludes that anger is appropriate in virtue of its being a response to specific moral failures, and further notes that anger offers the ameliorative benefit of pointing out where those failures have taken place, and how we can avoid them in the future.

Ao longo do tempo atribuiu-se a geração de valor econômico-financeiro às organizações empresariais atuantes no mercado das relações capitalistas e a geração de valor social às organizações do terceiro setor. Essa aparente dualidade vem sendo questionada no âmbito do empreendedorismo, provocando o surgimento do fenômeno do investimento de impacto como uma alternativa que possibilita a alocação de capital em iniciativas e empreendimentos, os chamados negócios sociais, que visam criar impacto social positivo acompanhado de retorno financeiro. A emergência de investidores e empreendedores de negócios sociais tem provocado polêmicas e reflexões acerca da avaliação de impacto, da taxa de retorno do investimento de impacto e também de conceitos essenciais para fundamentar as operações de investimento, como valor social e impacto socioambiental. Neste cenário, o presente trabalho teve como objetivo analisar as percepções dos diferentes grupos de atores do ecossistema brasileiro de negócios sociais e investimento de impacto sobre esses temas e sobre suas experiências no setor - desafios, oportunidades e aprendizados. Foi desenhada uma pesquisa exploratória de abordagem qualitativa, cujo problema de investigação foi o levantamento de opiniões, percepções e expectativas de representantes de três grupos de atores desse ecossistema: investidores interessados em negócios sociais; empreendedores e executivos de negócios sociais; e representantes de organizações intermediárias, como aceleradoras e fundos de investimento. A partir da construção de um referencial teórico e da análise de dados secundários sobre o fenômeno estudado, realizou-se o levantamento de dados primários aplicando-se um roteiro para entrevista semiestruturada em uma amostra intencional composta por dezoito pessoas. A análise das respostas evidenciou que há uma grande diversidade de entendimentos sobre o conceito de valor social e que alguns entrevistados tendem a usar esse termo como sinônimo de impacto social. A maioria dos entrevistados ressaltou elementos relacionados ao acesso à educação, aos serviços de saúde e aos direitos de cidadania. Mas nenhum se referiu à gestão de resíduos sólidos como elemento gerador de valor social. Talvez por se tratar de empreendimentos relativamente recentes, não foi possível identificar em que grau os investidores de impacto estão contribuindo para que esses negócios potencializem a geração de valor social aos beneficiários finais. No entanto, todos os negócios sociais que receberam investimento de impacto afirmaram que os investidores estão contribuindo para o desenvolvimento de seus negócios. Sobre a taxa de retorno do investimento, as opiniões dos entrevistados divergiram, mas a maioria deles entende que, no médio e longo prazo, as taxas de retorno deveriam seguir as taxas médias de mercado. A avaliação de impacto pré-investimento ainda é mais aproximativa do que baseada em indicadores de impacto social, porém todos os atores dos grupos de oferta de capital e demanda de capital que receberam investimento afirmaram que a geração de valor social é monitorada pelos investidores após o aporte de recursos. Os principais desafios apontados foram o acesso e o volume de capital, as restrições próprias do contexto econômico brasileiro e a imaturidade do setor. Todos consideram, porém, que o setor de negócios sociais e os investimentos de impacto têm futuro promissor no Brasil, seja pela necessidade de resolução dos inúmeros problemas sociais e ambientais, seja pelo tamanho do mercado de potenciais beneficiários dessas iniciativas. Nesse sentido, o presente trabalho espera contribuir para o avanço teórico e prático das questões e dilemas enfrentados pelo empreendedorismo social e pelo setor de investimento de impacto, bem como para fomentar o ecossistema brasileiro de Finanças Sociais. / 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 semi-structured 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 pre-investment 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.