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Open accessJournal ArticleDOI: 10.1080/08276331.2018.1551457

Impact investing: review and research agenda

04 Mar 2021-Journal of small business and entrepreneurship (Routledge)-Vol. 33, Iss: 2, pp 153-181
Abstract: Impact investing is an emerging alternative asset class. In the last few years, the investment in impact investing has grown many folds, however the research has not kept pace with the growing prac...

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Open access
01 Jan 2008-
Abstract: What makes organizations so similar? We contend that the engine of rationalization and bureaucratization has moved from the competitive marketplace to the state and the professions. Once a set of organizations emerges as a field, a paradox arises: rational actors make their organizations increasingly similar as they try to change them. We describe three isomorphic processes-coercive, mimetic, and normative—leading to this outcome. We then specify hypotheses about the impact of resource centralization and dependency, goal ambiguity and technical uncertainty, and professionalization and structuration on isomorphic change. Finally, we suggest implications for theories of organizations and social change.

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Topics: Isomorphism (sociology) (62%)

2,134 Citations


Open accessPosted Content
Abstract: Much effort goes into building markets as a tool for economic and social development, often overlooking that in too many places social exclusion and poverty prevent many, especially women, from participating in and accessing markets. Building on data from rural Bangladesh and analyzing the work of a prominent intermediary organization, we uncover institutional voids as the source of market exclusion and identify two sets of activities – redefining market architecture and legitimating new actors – as critical for building ‘inclusive' markets. We expose voids as ‘analytical spaces' and illustrate how they result from conflict and contradiction among institutional ‘bits and pieces' from local political, community, and religious spheres. Our findings put forward a perspective on market building that highlights the ‘on the ground' dynamics and attends to the ‘institutions at play', to their consequences, and to a more diverse set of ‘inhabitants' of institutions.

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Topics: Social exclusion (51%), Social change (50%)

628 Citations


Open accessPosted Content
Frederik Claeyé1, Terence Jackson2Institutions (2)
Abstract: Non-profit organisations (NPOs) are being pushed to become ‘more business-like’, reflecting global discourse on ‘aid effectiveness’ underpinned by managerialist modes of thinking that may be inappropriate to local contexts. We examine the nature of the tendency towards institutional isomorphism, critiquing it through a Postcolonial lens, and empirically investigating this with twelve NPOs in South Africa’s Eastern and Western Capes. The study suggests that NPOs mimic such professed ‘best practice’ in order to secure funding, while resistance creates hybrid management forms in line with local humanistic objectives. A cross-cultural management focus contributes here to both theory and praxis.

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Topics: Isomorphism (sociology) (55%)

55 Citations


Open accessJournal ArticleDOI: 10.3390/SU11133518
27 Jun 2019-Sustainability
Abstract: Social impact investments represent a cultural revolution, as they offer the opportunity to pursue financial and social goals simultaneously. However, Social impact investing market configurations are not evolving equally across national contexts. Therefore, in different contexts, different actors may play the pivotal role to make social impact investments more attractive. The present work, by looking at the Italian context, applies a qualitative methodology to study Foundations of Banking Origin (FBOs). This is a specific category of foundation which is bound by law to work and expand the charity sector. It emerges that the role of these entities, inside the philanthropy system, should develop from “impact facilitators” to “impact generators” in promoting social initiatives. Furthermore, the work sustains the importance of introducing a social impact rating system as a formalized methodology to select and finance the worthiest social project. In this perspective, the definition of a clear social rating philosophy and its correct application in the rating system design and use is a necessary condition to increase the solidity of a social impact assessment model.

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44 Citations


Journal ArticleDOI: 10.2139/SSRN.3715753
Guillaume Coqueret1Institutions (1)
Abstract: The research on sustainable finance has intensified in the past decade. In this survey, we synthesize recent academic results and models on socially responsible investing (SRI) in equity markets. We split our review into six thematic parts: data issues, investor preferences, link with financial performance, portfolio integration, climate change risk, and theoretical models.

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Topics: Socially responsible investing (64%), Equity (finance) (61%), Portfolio (57%) ... read more

28 Citations


References
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98 results found


Book ChapterDOI: 10.1016/S0742-3322(00)17011-1
Abstract: What makes organizations so similar? We contend that the engine of rationalization and bureaucratization has moved from the competitive marketplace to the state and the professions. Once a set of organizations emerges as a field, a paradox arises: rational actors make their organizations increasingly similar as they try to change them. We describe three isomorphic processes-coercive, mimetic, and normative—leading to this outcome. We then specify hypotheses about the impact of resource centralization and dependency, goal ambiguity and technical uncertainty, and professionalization and structuration on isomorphic change. Finally, we suggest implications for theories of organizations and social change.

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Topics: Normative isomorphism (61%), Coercive isomorphism (60%), Organizational field (60%) ... read more

30,905 Citations


Journal ArticleDOI: 10.2307/3556659
Joshua D. Margolis1, James P. Walsh2Institutions (2)
Abstract: Companies are increasingly asked to provide innovative solutions to deep-seated problems of human misery, even as economic theory instructs managers to focus on maximizing their shareholders' wealt

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4,325 Citations


Journal ArticleDOI: 10.1002/SEJ.69
Abstract: Social entrepreneurship has been a topic of academic inquiry for nearly 20 years, yet relatively little scholarly output has appeared in mainstream management and entrepreneurship journals Our review of this literature reveals that conceptual articles outnumber empirical studies, and empirical efforts often lack formal hypotheses and rigorous methods These findings suggest that social entrepreneurship research remains in an embryonic state Future research would benefit from the incorporation of multivariate methods to complement the case study techniques that have dominated previous efforts Our review also suggests that social entrepreneurship is informed by common areas of interest to management scholars like entrepreneurship, public/nonprofit management, and social issues, all of which represent fruitful venues for future research efforts Therefore, we recommend that scholars embrace key themes in strategic entrepreneurship and frame their research using established theories, such as contingency theory, creation theory, discovery theory, innovation diffusion theory, resource dependence theory, and other theoretical bases relevant to strategic entrepreneurship research Copyright © 2009 Strategic Management Society

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Topics: Social entrepreneurship (66%), Entrepreneurship (66%), Empirical research (54%) ... read more

1,004 Citations


Journal ArticleDOI: 10.1111/J.1540-6520.2010.00397.X
Alex Nicholls1Institutions (1)
Abstract: Following Kuhn, this article conceptualizes social entrepreneurship as a field of action in a pre-paradigmatic state that currently lacks an established epistemology. Using approaches from neo-institutional theory, this research focuses on the microstructures of legitimation that characterize the development of social entrepreneurship in terms of its key actors, discourses, and emerging narrative logics. This analysis suggests that the dominant discourses of social entrepreneurship represent legitimating material for resource-rich actors in a process of reflexive isomorphism. Returning to Kuhn, the article concludes by delineating a critical role for scholarly research on social entrepreneurship in terms of resolving conflicting discourses within its future paradigmatic development.

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Topics: Social entrepreneurship (62%), Isomorphism (sociology) (54%), Legitimation (53%) ... read more

707 Citations


Journal ArticleDOI: 10.1177/089976400773746346
James E. Austin1Institutions (1)
Abstract: Collaboration between nonprofits and businesses is increasing and becoming more strategically important. Based on 15 case studies, this article presents a cross-sector collaboration framework consi...

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679 Citations


Performance
Metrics
No. of citations received by the Paper in previous years
YearCitations
20221
202119
20208
20194
20123
20081