The Impact Investing Landscape in Latin America, Trends 2014-2015

2016 ◽  
Author(s):  
Katia Dumont ◽  
Genevieve Edens ◽  
Frederic de Mariz ◽  
Rebeca Rocha ◽  
Eduardo Roman ◽  
...  
Keyword(s):  
Latin America ◽  
Impact Investing ◽  
The Impact

Structuring for Exit: New Approaches for Private Capital in Latin America

2021 ◽  
Author(s):  
Sabrina Katz ◽  
Miguel Algarin ◽  
Emanuel Hernandez
Keyword(s):  
Latin America ◽  
Lessons Learned ◽  
Social Enterprises ◽  
Private Capital ◽  
Impact Investing ◽  
Fund Managers ◽  
Private Credit ◽  
Wide Group ◽  
Equity Model ◽  
The Impact

Structured financing solutions encompass a range of investment approaches that provide liquidity to investors without the need for a traditional equity exit event, such as a strategic sale, sale to another financial investor, or public market listing. Structuring mechanisms across the debt-to-equity spectrum determine the exit terms of the deal, therefore providing considerable downside protection to investors. Structured financing solutions are an incipient but increasingly important set of tools for investors active in Latin America to address the financing gap for companies that lack access to bank financing and are not attractive targets for traditional PE and VC players. Many investors employing these strategies are in an experimental phase, reporting new lessons learned with each deal completed. Impact investors have been among the top drivers of these structuring innovations, as they have grappled with the additional limitations associated with the straight equity model for environmental or social enterprises. However, the use of structured financing is by no means restricted to the impact investing space. Fund managers have invested USD4b in private credit deals in Latin America since 2018, more than the previous ten years combined. PE and VC investors have also increasingly employed quasi-equity and debt instruments. ACON Investments, for example, has employed mezzanine structures in several deals from its latest funds. Brazil-focused venture capital firm SP Ventures has recently begun investing from its debut venture debt fund. Growing experimentation by fund managers demonstrates the opportunity for investors across ticket sizes, strategies, and the impact-to-commercial spectrum. The structures discussed and the case studies highlighted in this report contain some of the major lessons applicable to a wide group of private capital investors in Latin America targeting certain and timely exits with consistent returns.

Projections of the Impact of Pension Funds on Investment in Infrastructure and Growth in Latin America

2010 ◽  
Author(s):  
Javier Alonso ◽  
Jasmina Bjelic ◽  
Carlos Herrera ◽  
soledad hormazabal ◽  
Ivonne Ordooez ◽  
...  
Keyword(s):  
Latin America ◽  
Pension Funds ◽  
The Impact

scholarly journals The impact of COVID-19 on the well-being and cognition of older adults living in the United States and Latin America

2021 ◽  
Vol 35 ◽  
pp. 100848
Author(s):  
Ganesh M. Babulal ◽  
Valeria L. Torres ◽  
Daisy Acosta ◽  
Cinthya Agüero ◽  
Sara Aguilar-Navarro ◽  
...  
Keyword(s):  
United States ◽  
Older Adults ◽  
Latin America ◽  
Well Being ◽  
The United States ◽  
The Impact

scholarly journals Is there an imbalance in the supply and demand for universal accessibility knowledge? Twenty years of UAIS papers viewed through the lens of WCAG

2021 ◽  
Author(s):  
Frode Eika Sandnes
Keyword(s):  
Latin America ◽  
North America ◽  
Supply And Demand ◽  
Research Focus ◽  
Universal Accessibility ◽  
Geographical Regions ◽  
Research Profile ◽  
The Impact ◽  
Over Time

AbstractPurpose: Some universal accessibility practitioners have voiced that they experience a mismatch in the research focus and the need for knowledge within specialized problem domains. This study thus set out to identify the balance of research into the main areas of accessibility, the impact of this research, and how the research profile varies over time and across geographical regions. Method: All UAIS papers indexed in Scopus were analysed using bibliometric methods. The WCAG taxonomy of accessibility was used for the analysis, namely perceivable, operable, and understandable. Results: The results confirm the expectation that research into visual impairment has received more attention than papers addressing operable and understandable. Although papers focussing on understandable made up the smallest group, papers in this group attracted more citations. Funded research attracted fewer citations than research without funding. The breakdown of research efforts appears consistent over time and across different geographical regions. Researchers in Europe and North America have been active throughout the last two decades, while Southeast Asia, Latin America, and Middle East became active in during the last five years. There is also seemingly a growing trend of out-of-scope papers. Conclusions: Based on the findings, several recommendations are proposed to the UAIS editorial board.

Financial Access of Latin America and Caribbean Firms: What Are the Roles of Institutional, Financial, and Economic Development?

2021 ◽  
pp. 097265272110153
Author(s):  
Lan Khanh Chu
Keyword(s):  
Economic Development ◽  
Latin America ◽  
Jel Classification ◽  
Caribbean Region ◽  
Country Level ◽  
Level Data ◽  
Latin America And Caribbean ◽  
The Impact ◽  
Moderating Role

This article examines the impact of institutional, financial, and economic development on firms’ access to finance in Latin America and Caribbean region. Based on firm- and country-level data from the World Bank databases, we employ an ordered logit model to understand the direct and moderating role of institutional, financial, and economic development in determining firms’ financial obstacles. The results show that older, larger, facing less competition and regulation burden, foreign owned, and affiliated firms report lower obstacles to finance. Second, better macro-fundamentals help to lessen the level of obstacles substantially. Third, the role of institutions in promoting firms’ inclusive finance is quite different to the role of financial development and economic growth. JEL classification: E02; G10; O16; P48

The Sovereign and its Shadow: Constituent Assembly and Indigenous Movement in Ecuador

2003 ◽  
Vol 35 (4) ◽  
pp. 721-750 ◽  
Author(s):  
ROBERT ANDOLINA
Keyword(s):  
Latin America ◽  
Latin American ◽  
Latin American Politics ◽  
Political Actors ◽  
Constituent Assembly ◽  
Institutional Politics ◽  
Ideological Struggle ◽  
Indigenous Movement ◽  
The Impact ◽  
Constitutive Principles

A crucial development in current Latin American politics is the growing involvement of indigenous movements in democracies grappling with the challenges of regime consolidation. This article examines how Ecuador's indigenous movement consecrated new rights and national constitutive principles in the 1997–8 constitutional assembly. It argues that the indigenous movement defined the legitimacy and purpose of the assembly through an ideological struggle with other political actors, in turn shaping the context and content of constitutional reforms in Ecuador. The article concludes that softening the boundary between ‘cultural politics’ and ‘institutional politics’ is necessary in order to understand the impact of social movements in Latin America.

Exchange characteristics, capability upgrading and innovation performance: evidence from Latin America

2019 ◽  
Vol 23 (9) ◽  
pp. 1747-1763 ◽  
Author(s):  
N. Nuruzzaman ◽  
Deeksha Singh
Keyword(s):  
Latin America ◽  
Product Design ◽  
Social Capital Theory ◽  
Customer Relationship ◽  
Firm Level ◽  
Content Type ◽  
Joint Force ◽  
Capability Upgrading ◽  
The Impact ◽  
Positive Effect

Purpose This paper aims to attempt to examine the effect of firm-customer exchange characteristics, frequency and specificity, on the likelihood of the firm to generate customer-driven innovation. The authors draw from social capital theory and argue that repetitive and customer-specific exchange improves the trusts between firm and customers, which in turn ease the flows of tacit knowledge from customers to the firm. From the perspective of customer knowledge management, the authors contribute by examining the mechanism by which a firm can acquire knowledge from and about customers. The authors further argue that a firm’s ability to absorb knowledge from customers and turn them into innovation also depends on its internal capability. A firm that consistently upgrades its capacity is more likely to generate customer-driven innovation than those that do not. Also, the authors argue that the joint effect of exchange characteristics and internal capability upgrading can further increase the likelihood of customer-driven innovation. Such a joint force implies the positive moderating effect of internal capability upgrading to the relationship between exchange characteristics and customer-driven innovation. Design/methodology/approach The authors test the hypotheses on 3,000 firms from six countries in Latin America. They take advantage of the 2017 World Bank Enterprises Survey. This most recent of the survey asks questions on various types of innovation and firm-customers exchange characteristics and other firm-level variables. Findings The authors find support for our hypotheses that repeated exchange and exchanges tailored to specific customers have a positive effect on customer-driven innovation. Also, they find the support that internal capability upgrading, in the form of investment in product design, marketing and organizational development has a positive effect on customer-driven innovation. The authors also find that investment in product design positively moderates the impact of exchange characteristics on the likelihood of customer-driven innovation. Originality/value While past studies focus on strategies to acquire and manage customers’ knowledge, little has been said about how exchange attributes can encourage or discourage innovation? This question is important because various theoretical perspectives may have a different prediction on the effect of firm-customer relationship and innovation. This study attempts to bridge such theoretical tension.

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