Pub Date : 2024-06-15DOI: 10.1177/00076503241255483
Pablo Muñoz, Steffen Farny, Ewald Kibler, Virva Salmivaara
Although the simultaneous presence of multiple ambitions is inherent in hybrid venturing, pursuing social and/or environmental missions while securing commercial viability can generate ambivalence among stakeholders. In this study, we draw on the notion of “holism” to show how venture founders both embrace tensioned ambitions and sustain hybridity during critical venture development phases. Based on 6 years of data on The People’s Supermarket in the United Kingdom, we identify three distinct practices— fantasizing, bartering, and conjuring—used by founders to harness tensions productively, without compromising their venture’s multiple ambitions. These practices demonstrate the founders’ ability to maintain a venture’s hybrid nature throughout the ideation, organizational, and scale-up phases, thereby shedding light on the application of “holism” within the realm of hybrid venturing.
{"title":"How Founders Harness Tensions in Hybrid Venture Development","authors":"Pablo Muñoz, Steffen Farny, Ewald Kibler, Virva Salmivaara","doi":"10.1177/00076503241255483","DOIUrl":"https://doi.org/10.1177/00076503241255483","url":null,"abstract":"Although the simultaneous presence of multiple ambitions is inherent in hybrid venturing, pursuing social and/or environmental missions while securing commercial viability can generate ambivalence among stakeholders. In this study, we draw on the notion of “holism” to show how venture founders both embrace tensioned ambitions and sustain hybridity during critical venture development phases. Based on 6 years of data on The People’s Supermarket in the United Kingdom, we identify three distinct practices— fantasizing, bartering, and conjuring—used by founders to harness tensions productively, without compromising their venture’s multiple ambitions. These practices demonstrate the founders’ ability to maintain a venture’s hybrid nature throughout the ideation, organizational, and scale-up phases, thereby shedding light on the application of “holism” within the realm of hybrid venturing.","PeriodicalId":409752,"journal":{"name":"Business & Society","volume":"12 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141336324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-06-10DOI: 10.1177/00076503241255343
Carlos Carrasco-Farré
Amid the COVID-19 pandemic, a parallel crisis emerged in the form of an “infodemic,” where misinformation proliferated through social media at an unprecedented scale. This article delves into the evolving landscape of reliable and misinformation sources reporting on the pandemic, examining their communication dynamics. Leveraging a comprehensive data set encompassing 437,832 news published online by media organizations from January 2020 to December 2021, I employ structural change analysis and network-based natural language processing to explore these dynamics. The findings illuminate the contrasting approaches adopted by reliable sources, which prioritize scientific discourse, and misinformation, which exhibits high topic volatility—rapid change in the focus—suggesting that misinformation sources frequently shift their attention to different topics. Notably, this highlights a deliberate strategy employed by misinformation purveyors, that is, creating false crises without authoritative resolutions, thereby fostering a sense of lack of control, chaos, and uncertainty. Furthermore, the sentiment and morality analysis of COVID-19 news reveal that reliable news tends to maintain a balanced and neutral tone, while misinformation often exhibits a highly negative and morally charged narrative. These results carry significant implications for devising effective social countermeasures against misinformation at various stages of the pandemic.
{"title":"Unmasking the Info War: The Communication Dynamics of Reliable and Misinformation Sources During the COVID-19 Pandemic","authors":"Carlos Carrasco-Farré","doi":"10.1177/00076503241255343","DOIUrl":"https://doi.org/10.1177/00076503241255343","url":null,"abstract":"Amid the COVID-19 pandemic, a parallel crisis emerged in the form of an “infodemic,” where misinformation proliferated through social media at an unprecedented scale. This article delves into the evolving landscape of reliable and misinformation sources reporting on the pandemic, examining their communication dynamics. Leveraging a comprehensive data set encompassing 437,832 news published online by media organizations from January 2020 to December 2021, I employ structural change analysis and network-based natural language processing to explore these dynamics. The findings illuminate the contrasting approaches adopted by reliable sources, which prioritize scientific discourse, and misinformation, which exhibits high topic volatility—rapid change in the focus—suggesting that misinformation sources frequently shift their attention to different topics. Notably, this highlights a deliberate strategy employed by misinformation purveyors, that is, creating false crises without authoritative resolutions, thereby fostering a sense of lack of control, chaos, and uncertainty. Furthermore, the sentiment and morality analysis of COVID-19 news reveal that reliable news tends to maintain a balanced and neutral tone, while misinformation often exhibits a highly negative and morally charged narrative. These results carry significant implications for devising effective social countermeasures against misinformation at various stages of the pandemic.","PeriodicalId":409752,"journal":{"name":"Business & Society","volume":" 706","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141364050","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-06-10DOI: 10.1177/00076503241255484
Heli Pietilä, Sari Laari-Salmela, Vesa Puhakka
Extant studies on stakeholder engagement have noted the inherent tensions arising from participation efforts, giving rise to the dark side of engagement. However, few studies have focused on organizational power relations that provide specific conditions for engagement and the related paradox that control represents. Drawing on strategy discourse and paradox as theoretical lenses, we examine engagement as a nexus of observed societal expectations, subjectivities provided by the strategy discourse, and the subject positions adopted by the individuals, giving rise to a contradiction between openness and control. As a result, we present three modes of participation: inclusion, admittance, and quasi-participation. We contribute to stakeholder engagement and paradox literature by outlining the “engagement-control paradox” and showing how the prevailing strategy discourse may drive the use of participation as a form of control. Maintaining different modes of participation introduces inadvertent closure for participation and hinders strategy-making and the development of the organization.
{"title":"Participating By Choice or Command? When Ideals of Stakeholder Engagement Clash With a Prevailing Strategy Discourse","authors":"Heli Pietilä, Sari Laari-Salmela, Vesa Puhakka","doi":"10.1177/00076503241255484","DOIUrl":"https://doi.org/10.1177/00076503241255484","url":null,"abstract":"Extant studies on stakeholder engagement have noted the inherent tensions arising from participation efforts, giving rise to the dark side of engagement. However, few studies have focused on organizational power relations that provide specific conditions for engagement and the related paradox that control represents. Drawing on strategy discourse and paradox as theoretical lenses, we examine engagement as a nexus of observed societal expectations, subjectivities provided by the strategy discourse, and the subject positions adopted by the individuals, giving rise to a contradiction between openness and control. As a result, we present three modes of participation: inclusion, admittance, and quasi-participation. We contribute to stakeholder engagement and paradox literature by outlining the “engagement-control paradox” and showing how the prevailing strategy discourse may drive the use of participation as a form of control. Maintaining different modes of participation introduces inadvertent closure for participation and hinders strategy-making and the development of the organization.","PeriodicalId":409752,"journal":{"name":"Business & Society","volume":"122 22","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141361769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-06-10DOI: 10.1177/00076503241255540
A. Intezari, Bernard McKenna, Mohammad Hossein Rahmati
This study contextualizes business leaders’ perspectives on business-society interaction through the theoretical lens of wisdom. Morally effective interaction between business and society relies on shared perceptions of expected values grounded in leaders’ virtuous behavior. Through empirical fieldwork across industries in a developing society, the article documents how local business leaders perceive wise leadership in dealing with socially complex problems. Using grounded theory, we inductively developed a model of wisdom, executive wisdom, that identifies 14 characteristics of wisdom, located in three groups: technē, wise decisions, and virtuous disposition. The findings broaden the view of the complex nature of wise decision-making in the business-society context.
{"title":"Conceptualizing and Contextualizing “Executive Wisdom” as a Framework for Business Leadership: A Grounded Theory Approach","authors":"A. Intezari, Bernard McKenna, Mohammad Hossein Rahmati","doi":"10.1177/00076503241255540","DOIUrl":"https://doi.org/10.1177/00076503241255540","url":null,"abstract":"This study contextualizes business leaders’ perspectives on business-society interaction through the theoretical lens of wisdom. Morally effective interaction between business and society relies on shared perceptions of expected values grounded in leaders’ virtuous behavior. Through empirical fieldwork across industries in a developing society, the article documents how local business leaders perceive wise leadership in dealing with socially complex problems. Using grounded theory, we inductively developed a model of wisdom, executive wisdom, that identifies 14 characteristics of wisdom, located in three groups: technē, wise decisions, and virtuous disposition. The findings broaden the view of the complex nature of wise decision-making in the business-society context.","PeriodicalId":409752,"journal":{"name":"Business & Society","volume":" 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141365170","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-06-07DOI: 10.1177/00076503241255072
Han Yu, Radu Burlacu, G. Enjolras
This article provides a comprehensive analysis of the stock market reaction to green bond issuance announcements for a large, international sample of listed companies. Existing empirical studies find mixed results regarding this issue. Using a sample of 595 green bonds issued between 2014 and 2021, we conducted a series of event studies to analyze the changes in issuer returns and liquidity following the announcements. We find that the market reaction is significantly negative, more severe compared to conventional bond issues, but improves over time. Green bonds issued by companies with poor environmental performance or without prior experience in issuing such bonds generate a more negative market reaction. We also find that stock liquidity improves for issuers with good environmental performance. Our findings have significant implications as they suggest the existence of economies of scale in repeated issuances of green bonds and/or increasing reliability in the bond’s greenness.
{"title":"Green Bond Issuances: A Promising Signal or a Deceptive Opportunity?","authors":"Han Yu, Radu Burlacu, G. Enjolras","doi":"10.1177/00076503241255072","DOIUrl":"https://doi.org/10.1177/00076503241255072","url":null,"abstract":"This article provides a comprehensive analysis of the stock market reaction to green bond issuance announcements for a large, international sample of listed companies. Existing empirical studies find mixed results regarding this issue. Using a sample of 595 green bonds issued between 2014 and 2021, we conducted a series of event studies to analyze the changes in issuer returns and liquidity following the announcements. We find that the market reaction is significantly negative, more severe compared to conventional bond issues, but improves over time. Green bonds issued by companies with poor environmental performance or without prior experience in issuing such bonds generate a more negative market reaction. We also find that stock liquidity improves for issuers with good environmental performance. Our findings have significant implications as they suggest the existence of economies of scale in repeated issuances of green bonds and/or increasing reliability in the bond’s greenness.","PeriodicalId":409752,"journal":{"name":"Business & Society","volume":" 113","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141374823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-06-07DOI: 10.1177/00076503241255344
Claire-Isabelle Roquebert, Jean‐Pascal Gond
Prior research on sustainability suggests that ambitious sustainability strategies are often turned into “business-as-usual” practices. Although ecological embeddedness—that is, actors’ physical and cognitive anchoring in their ecological environment—can help maintain sustainability ambitions, its collective dynamics and pluralistic moral foundations remain understudied. We rely on the economies of worth framework and the revelatory case of a biodynamic farm business experiencing sustained commercial growth to explore these blind spots by analyzing how ecological embeddedness was maintained despite this growth. We found that moral threats moved the organization away from its initial sustainability commitment and demonstrated how the farm maintained its ecological embeddedness through three mechanisms that involved multiple moral foundations: nurturing ecological inspiration, networking green projects, and unifying a green ethos. By inducing such mechanisms of moral recombination, our analysis advances sustainability studies by clarifying and bridging individual and collective dynamics of ecological embeddedness while revealing their multiple moral foundations; we also extend economies of worth research by demonstrating the role of ecological materiality in the alignment of organizations with the green world.
{"title":"Growing Green: On the Moral Pluralism of Individual and Collective Ecological Embeddedness","authors":"Claire-Isabelle Roquebert, Jean‐Pascal Gond","doi":"10.1177/00076503241255344","DOIUrl":"https://doi.org/10.1177/00076503241255344","url":null,"abstract":"Prior research on sustainability suggests that ambitious sustainability strategies are often turned into “business-as-usual” practices. Although ecological embeddedness—that is, actors’ physical and cognitive anchoring in their ecological environment—can help maintain sustainability ambitions, its collective dynamics and pluralistic moral foundations remain understudied. We rely on the economies of worth framework and the revelatory case of a biodynamic farm business experiencing sustained commercial growth to explore these blind spots by analyzing how ecological embeddedness was maintained despite this growth. We found that moral threats moved the organization away from its initial sustainability commitment and demonstrated how the farm maintained its ecological embeddedness through three mechanisms that involved multiple moral foundations: nurturing ecological inspiration, networking green projects, and unifying a green ethos. By inducing such mechanisms of moral recombination, our analysis advances sustainability studies by clarifying and bridging individual and collective dynamics of ecological embeddedness while revealing their multiple moral foundations; we also extend economies of worth research by demonstrating the role of ecological materiality in the alignment of organizations with the green world.","PeriodicalId":409752,"journal":{"name":"Business & Society","volume":" 28","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141375170","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-06-04DOI: 10.1177/00076503241254532
Jegoo Lee, D. Kruse, Joseph R. Blasi
This research proposes that broad-based employee share ownership (ESO) affects corporate environmental performance (CEP). Drawing upon corporate governance literature, social exchange theory, and stakeholder utility theory, we propose that employees as owners adopt more favorable attitudes toward beneficial outcomes for CEP, and that the broad-based impact of ESO overwhelms the impact of CEO ownership. Also, we propose that these relationships are contingent upon trade union presence as a form of worker voice that amplifies the ESO influence on CEP. The empirical results from U.S. publicly traded companies from 2009 to 2016 indicate that broad-based ESO is linked to positive CEP by companies, and provides some support for all proposed hypotheses. This study provides scholarly and practical implications for the effects of shared capitalist modes of ownership and employee engagement on corporate sustainability.
{"title":"Shared Capitalism and Corporate Sustainability: Broad-Based Employee Share Ownership, CEO Ownership, and Corporate Environmental Performance","authors":"Jegoo Lee, D. Kruse, Joseph R. Blasi","doi":"10.1177/00076503241254532","DOIUrl":"https://doi.org/10.1177/00076503241254532","url":null,"abstract":"This research proposes that broad-based employee share ownership (ESO) affects corporate environmental performance (CEP). Drawing upon corporate governance literature, social exchange theory, and stakeholder utility theory, we propose that employees as owners adopt more favorable attitudes toward beneficial outcomes for CEP, and that the broad-based impact of ESO overwhelms the impact of CEO ownership. Also, we propose that these relationships are contingent upon trade union presence as a form of worker voice that amplifies the ESO influence on CEP. The empirical results from U.S. publicly traded companies from 2009 to 2016 indicate that broad-based ESO is linked to positive CEP by companies, and provides some support for all proposed hypotheses. This study provides scholarly and practical implications for the effects of shared capitalist modes of ownership and employee engagement on corporate sustainability.","PeriodicalId":409752,"journal":{"name":"Business & Society","volume":"16 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141265917","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-06-03DOI: 10.1177/00076503241255512
Varkey K. Titus, Jonathan P. O’Brien, Owen Parker, Christopher A. Aumueller
We examine the interface of entrepreneurship and society by considering a novel source of gender bias (public opinion) and a novel expression of it (affective evaluations). We posit that women-led teams displaying success will trigger a “penalty for success” bias, and this will be inhibited if the team receives a “stamp of approval” from a gender congruent individual (i.e., an investor who is a man). Analysis from our first study, based on archival data, indicated that other mechanisms might be at play that we could not tease apart in our archival data, so we conducted a follow-up experimental study to further examine our initial findings. Results jointly indicate that women are viewed unfavorably unless either (a) they are validated by success or endorsement from a man, or (b) they fail but are “warm and accommodating” about it. We also find that while men benefit from being validated by success or endorsement of an opposite-gender investor, they do not face a similarly steep penalty absent that validation.
{"title":"When the Spotlight Burns: Gender Bias in the Public Perception of Entrepreneurs","authors":"Varkey K. Titus, Jonathan P. O’Brien, Owen Parker, Christopher A. Aumueller","doi":"10.1177/00076503241255512","DOIUrl":"https://doi.org/10.1177/00076503241255512","url":null,"abstract":"We examine the interface of entrepreneurship and society by considering a novel source of gender bias (public opinion) and a novel expression of it (affective evaluations). We posit that women-led teams displaying success will trigger a “penalty for success” bias, and this will be inhibited if the team receives a “stamp of approval” from a gender congruent individual (i.e., an investor who is a man). Analysis from our first study, based on archival data, indicated that other mechanisms might be at play that we could not tease apart in our archival data, so we conducted a follow-up experimental study to further examine our initial findings. Results jointly indicate that women are viewed unfavorably unless either (a) they are validated by success or endorsement from a man, or (b) they fail but are “warm and accommodating” about it. We also find that while men benefit from being validated by success or endorsement of an opposite-gender investor, they do not face a similarly steep penalty absent that validation.","PeriodicalId":409752,"journal":{"name":"Business & Society","volume":"50 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141272646","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-08DOI: 10.1177/00076503231206734
Dorottya Sallai, Glenn Morgan, Magnus Feldmann, Marcus Gomes, Andrew Spicer
{"title":"Social Challenges for Business in the Age of Populism","authors":"Dorottya Sallai, Glenn Morgan, Magnus Feldmann, Marcus Gomes, Andrew Spicer","doi":"10.1177/00076503231206734","DOIUrl":"https://doi.org/10.1177/00076503231206734","url":null,"abstract":"","PeriodicalId":409752,"journal":{"name":"Business & Society","volume":"52 14","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139446125","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-08DOI: 10.1177/00076503231224710
Jason R. Pierce, Laura M. Giurge, Brad Aeon
Socioeconomic inequality is perpetuated and exacerbated by an overlooked yet serious epidemic of time theft: the act of causing others to lose their time without adequate cause, compensation, or consent. We explain why time theft goes unnoticed, how it drives socioeconomic inequality, and what businesses and policymakers can do to address it.
{"title":"Time Theft: Exposing a Subtle Yet Serious Driver of Socioeconomic Inequality","authors":"Jason R. Pierce, Laura M. Giurge, Brad Aeon","doi":"10.1177/00076503231224710","DOIUrl":"https://doi.org/10.1177/00076503231224710","url":null,"abstract":"Socioeconomic inequality is perpetuated and exacerbated by an overlooked yet serious epidemic of time theft: the act of causing others to lose their time without adequate cause, compensation, or consent. We explain why time theft goes unnoticed, how it drives socioeconomic inequality, and what businesses and policymakers can do to address it.","PeriodicalId":409752,"journal":{"name":"Business & Society","volume":"46 16","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139446196","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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