Investimenti a impatto sociale e capitale paziente

Objectives. This chapter aims to clearly define a growing phenomenon such as Social Impact Investing and to analyzing the role that the so-called patient capital can play in this context.
Methodology. This work follows the principles of the conceptual contribution. Through an analysis of the national and international debate about the role of social impact investing, this conceptual chapter tries to promote a common understanding of the phenomenon.
Findings. The work underlines the importance of this form of investment that introduces changes in both philanthropy and entrepreneurship. The traditional separation between philanthropic activities and profits achievements falls, highlighting that the social component can foster the real economy. In this context, it is clear that to reach both economic and social goals, it is necessary that the capital becomes patient and follows a slow money approach.
Research limits. Since it is a conceptual work, it is necessary to conduct empirical research in the future in order to strengthen the validity of the conclusions.
Practical implications. Due to the changes that are characterizing the world, the role that firms play in the society should change. Firms should carry also social responsibility. As a consequence, it is not sufficient anymore pursuing profit maximisation but it is essential that the entrepreneur's talent is made available also to reach social aims.
Originality of the study. The chapter represents a first attempt to provide a critical understanding of a worldwide phenomenon.