Contributions published at Foundations of Business Administration and Theories of the Firm (Andreas Scherer)

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Researchers from different disciplines and theoretical traditions have explored at length how the financial sector has gained prominence and power during the last thirty years. They have examined the rise of finance and its crisis-ridden impact on business practices, government policies and social relations. However, this important literature has often missed a direct focus on the organizational dimension of financial markets. This symposium showcases how organization and management theorists make a relevant contribution to our understanding of finance in its complexity and present-day developments. Theories and methods from organization and management studies can illuminate financial phenomena in ways that researchers in finance and economics fall short of doing. Presenters in this symposium will reflect on the state of the art of organizational research on financial markets, firms and technologies. They will identify how the financial services industry is moving forward in its dominant role vis-Ã -vis other sectors and the economy. They will propose policy-relevant ideas to make the financial sector an inclusive and responsible business domain.

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Researchers and practitioners increasingly consider social innovation a market-based means to address social challenges. However, to fully harness the potential benefits of social innovation for society, we need to understand its drivers and value creation mechanisms. Specifically, we need to understand why individuals engage in social innovation (micro level), how they influence the social innovation process (meso level) and how this relates to social value creation (macro level). However, research is scattered across different fields so that links between levels of analysis remain unclear. We conducted a systematic literature review including 460 articles across different research fields to understand: (1) how key antecedents of individuals enable socially innovative behavior; (2) when and under what conditions socially innovative behavior leads to successful social innovations (connecting the micro and the meso level); (3) what key mechanisms of social innovation stimulate social value creation and social change (connecting the meso and macro level); and (4) what facilitating mechanisms enable individual innovators to address social challenges (connecting the micro and macro level). We develop an integrative model of the social innovation process, review the state of the art on social entrepreneurship and social innovation research, outline prevailing research gaps, formulate theoretical implications, and provide a future research agenda.

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The extent to which state authorities can regulate the externalities and the behaviour of multinational corporations (MNCs) is limited. This is especially true when MNCs operate in or do business with fragile states that lack the willingness and/or resources to effectively and legitimately regulate businesses. However, MNCs often engage in private regulation to remedy some of the problems that unregulated business behaviour creates. In this article we examine what limits the effectiveness and legitimacy of the contributions made by MNCs to global governance. We explore the mechanisms that state authorities in functioning states can use to overcome these barriers as well as the boundary conditions of these mechanisms at both company and government levels. We provide a framework for governmental CSR policies and describe the ways in which functioning states engage in governance beyond the ‘shadow of hierarchy’ and directly or indirectly influence business conduct beyond the territory in which their legal regulations can be enforced.

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