State Mediation in Market Emergence : Socially Responsible Investing in China

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review

6 Scopus Citations
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Author(s)

Detail(s)

Original languageEnglish
Title of host publicationHow Institutions Matter!
EditorsJoel GEHMAN, Michael LOUNSBURY, Royston GREENWOOD
PublisherEmerald Group Publishing Limited
Pages173-206
ISBN (Electronic)978-1-78635-431-0
ISBN (Print)978-1-78635-432-7
Publication statusPublished - 2017
Externally publishedYes

Publication series

NameResearch in the Sociology of Organizations
Volume48B
ISSN (Print)0733-558X

Abstract

Socially responsible investing (SRI) funds depart from mainstream finance by incorporating environmental, social, and governance considerations, but their success varies across regions. By using a historical comparative case design, we identify an empirically puzzling phenomenon in China: despite an initially favorable resource environment and the presence of socially skilled institutional entrepreneurs, SRI wanes over time in Hong Kong but survives in Mainland China where initial resource endowments and actors’ social skills were inferior. By comparing four periods of SRI development, we reveal how state sustainable development policies, a change in the institutional context, led unintentionally to a shared orientation and a public pool of resources, which sustained the SRI niche. Our paper contributes to research on market emergence, institutional change, and cultural entrepreneurship.

Research Area(s)

  • Socially responsible investing, institutional change, niche emergence, historical case study

Citation Format(s)

State Mediation in Market Emergence : Socially Responsible Investing in China. / Yan, Shipeng; Ferraro, Fabrizio.

How Institutions Matter!. ed. / Joel GEHMAN; Michael LOUNSBURY; Royston GREENWOOD. Emerald Group Publishing Limited, 2017. p. 173-206 (Research in the Sociology of Organizations; Vol. 48B).

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review