Micro-processes of public good social innovation in the Australian social impact investment market

Mollinger-Sahba, Ali; Flatau, Paul; Schepis, Daniel; Purchase, Sharon

doi:10.1016/j.indmarman.2020.03.027

Cited by 19 publications

(10 citation statements)

References 62 publications

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“…First, markets are socially constructed and thus malleable (Kjellberg & Helgesson, 2006;Nenonen et al, 2014). Second, markets are complex adaptive systems following non-linear processes of change and stability (Kjellberg, Azimont, & Reid, 2015;Mollinger-Sahba, Flatau, Schepis, et al, 2021;Sprong et al, 2021). Third, markets are complemented by a nonmarket component, that constitutes the institutional environment, in other words the schemas, rules, laws, norms or routines that guide the behavior of actors (Scott, 2008;Dolbec & Fischer, 2015;Ertimur & Coskuner-Balli, 2015).…”

Section: From Dyadic Arenas To Multi-actor Systems Of Exchangementioning

confidence: 99%

Market-Shaping as Meta-Strategy : A Strategy of Strategies

Flaig

2023

Linköping Studies in Arts and Sciences

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Markets are increasingly perceived as malleable systems constituted by actors that endogenously generate and shape the market. This view extends the traditional market view beyond the buyer-seller dyad and encompasses both directly market-related actors such as companies, suppliers, and buyers but also nonmarket actors such as regulators, lobbyists, journalists, activists, and the wider public. This alternative view has led to the emergence of market-shaping strategies, which refer to a focal company's deliberate efforts to alter market characteristics, such as price levels or nonmarket elements, such as regulations, in its favor.Most descriptions of market-shaping strategies suggest that they influence both the market and nonmarket environments synergistically, and thus resemble the concept of an integrated strategy. However, given the systemic nature of markets, a company shaping a market may need to combine intended actions aimed at realizing the focal company's market-shaping vision and emergent actions as response to emerging system dynamics. This implies that a marketshaping strategy may be constituted by different strategies with different but synergistic goals unified by the overarching goal of realizing the focal company's market-shaping goal. In other words, a market-shaping strategy may be a strategy of strategies -a meta-strategy.Moreover, previous research has indicated the significant potential of market-shaping strategies to improve the financial performance of companies as well as the overall market performance by increasing market size, market growth and value creation. However, despite this potential, the notion of market-shaping strategies has remained conceptually and empirically underdeveloped.This dissertation seeks to improve our understanding of market-shaping strategies by analyzing the constituent dimensions of market-shaping strategies and by presenting new empirical insights into how such strategies are employed. Hereby, two papers synthesize extant literature on market-shaping to analyze and conceptualize the underlying process of market-shaping strategies as well as a typology of distinct market-shaping strategies. The other two papers provide new empirical evidence concerning the employment of market-shaping strategies by investigating the influence of market-shaping roles and capabilities on the market-shaping efforts of a focal company. I would also like to thank all the people I met abroad that made my stays in Auckland, Adelaide and Perth unforgettable. Thank you, Julia Fehrer, for inviting me to visit the Auckland Business VIII School and the great time I've had there! Here, I would also like to thank you, Stefano Pascucci, it was a true pleasure to meet you and listen to your wisdom! Thank you, Jonathan Baker, for inviting me to the University of Adelaide and the great conversations we have had and are still having! Thank you Valtteri Kaartemo for being so welcoming and open to new ideas! I would also like to thank all the people that were indirectly part of my journey. Thank ...

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Section: From Dyadic Arenas To Multi-actor Systems Of Exchangementioning

confidence: 99%

Market-Shaping as Meta-Strategy : A Strategy of Strategies

Flaig

2023

Linköping Studies in Arts and Sciences

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“…Furthermore, although the growth of impact investment markets is laudable, not all types of market growth may deliver the intended results, especially in the long term (Nwankwo et al, 2007;Clyde and Karnani, 2015). Indeed, research shows that impact investment markets in many places are growing but systematically failing to serve the communities who deserve the service most (Mollinger-Sahba et al, 2020a). For example, Castellas et al (2018) show how the rapidly growing Australian impact investment market is dominated mainly by an investment logic (i.e., a higher focus on financial returns rather than social impact) and how the market is predominantly targeting mature social enterprises, with little or no investment support for early-stage social enterprises.…”

Section: Issues Around Market Growthmentioning

confidence: 99%

“…Existing research shows that in several places, impact investment markets are growing in an unbalanced way by systematically failing to cater to the needs of, for example, early-stage social organisations and marginalised communities (e.g., Castellas et al, 2018;Mollinger-Sahba et al, 2020a). Future research could investigate what market incentives could be created to facilitate balanced growth of impact investment markets, and what roles private and public actors could play therein.…”

Section: Facilitating Balanced Growth Of Impact Investment Marketsmentioning

confidence: 99%

Impact investing in social sector organisations: a systematic review and research agenda

Islam

2021

Accounting & Finance

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Impact investing has great potential to contribute to achieving the Sustainable Development Goals by financing the growth of social sector organisations. This paper conducts a systematic literature review to develop cumulative insights into impact investing in social sector organisations. It identifies four streams of impact investing research: impact investment decision making, impact evaluation in impact investing, behavioural issues in impact investing, and impact investing ecosystem. This paper also identifies nine main research focus areas within these research streams and discusses key insights into each of them. Finally, building on prior research, this article offers a comprehensive future research agenda.

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“…Hence, attaining desired social impact is a fundamental consideration in impact investing. However, there is a risk that impact investment projects may fail to attain the expected positive impact (e.g., projects failing to achieve the desired reduction in homelessness) (Mollinger-Sahba et al 2021;Ormiston et al 2015). Furthermore, while impact investment projects aim to create a positive imapct, there is a risk that they may inadvertently create a negative impact (IFC 2019;Islam 2020b).…”

Section: Literature On Impact Investingmentioning

confidence: 99%

Impact Risk Management In Impact Investing: How Impact Investing Organizations Adopt Control Mechanisms To Manage Their Impact Risk

Islam

2022

SSRN Journal

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Micro-processes of public good social innovation in the Australian social impact investment market

Cited by 19 publications

References 62 publications

Market-Shaping as Meta-Strategy : A Strategy of Strategies

Market-Shaping as Meta-Strategy : A Strategy of Strategies

Impact investing in social sector organisations: a systematic review and research agenda

Impact Risk Management In Impact Investing: How Impact Investing Organizations Adopt Control Mechanisms To Manage Their Impact Risk

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