CV: Curriculum Vitae from Carlos Serrano Cinca, professor in Accounting and Finance at the University of Zaragoza (Spain)

Serrano-Cinca, C. and Gutiérrez-Nieto, B. (2013): "A decision support system for financial and social investment", Applied Economics, [accepted November 2012]

Discussion Paper: ULB, Universite Libre de Bruxelles, Working Papers CEB, No 10-049.


This paper proposes a decision-making model that assesses the different aspects associated to Social Venture Capital (SVC) investment decisions. SVC companies buy shares of investee companies, valued according to financial and social aspects. The proposed model includes three main factors: the previous experience with the company (the past); its financial information and intangible assets (the present); and the proposed project, considering financial and social criteria (the future). The model has 26 criteria and 160 indicators, prioritized by means of Analytic Hierarchy Process (AHP). AHP simplifies a complex problem using hierarchical analysis methodology, which enables subjective judgements among different criteria. The model has been tested in a given SVC company. Its development is explained in the paper.


Social Venture Capital, Microfinance, AHP, Social Performance


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