State mediation in market emergence: Socially responsible investing in China

S. Yan, Fabrizio Ferraro

Research output: Chapter in Book/Report/Conference proceedingChapterScientific

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.
Original languageEnglish
Title of host publicationResearch in the sociology of organizations
Subtitle of host publicationHow institutions matter!
EditorsJ. Gehman, M. Lounsbury, R. Greenwood
Place of PublicationBingley, UK
PublisherEmerald group publishing limited
Pages173-206
Volume49B
Publication statusPublished - 2016

Fingerprint

China
Mediation
Socially responsible investing
Resources
Institutional context
Finance
Hong Kong
Sustainable development
Governance
Mainland China
Endowments
Institutional change
Niche
Entrepreneurship
Social skills
Development policy
Institutional entrepreneur

Cite this

Yan, S., & Ferraro, F. (2016). State mediation in market emergence: Socially responsible investing in China. In J. Gehman, M. Lounsbury, & R. Greenwood (Eds.), Research in the sociology of organizations: How institutions matter! (Vol. 49B, pp. 173-206). Bingley, UK: Emerald group publishing limited.
Yan, S. ; Ferraro, Fabrizio. / State mediation in market emergence : Socially responsible investing in China. Research in the sociology of organizations: How institutions matter!. editor / J. Gehman ; M. Lounsbury ; R. Greenwood. Vol. 49B Bingley, UK : Emerald group publishing limited, 2016. pp. 173-206
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Yan, S & Ferraro, F 2016, State mediation in market emergence: Socially responsible investing in China. in J Gehman, M Lounsbury & R Greenwood (eds), Research in the sociology of organizations: How institutions matter!. vol. 49B, Emerald group publishing limited, Bingley, UK, pp. 173-206.

State mediation in market emergence : Socially responsible investing in China. / Yan, S.; Ferraro, Fabrizio.

Research in the sociology of organizations: How institutions matter!. ed. / J. Gehman; M. Lounsbury; R. Greenwood. Vol. 49B Bingley, UK : Emerald group publishing limited, 2016. p. 173-206.

Research output: Chapter in Book/Report/Conference proceedingChapterScientific

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AB - 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.

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BT - Research in the sociology of organizations

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Yan S, Ferraro F. State mediation in market emergence: Socially responsible investing in China. In Gehman J, Lounsbury M, Greenwood R, editors, Research in the sociology of organizations: How institutions matter!. Vol. 49B. Bingley, UK: Emerald group publishing limited. 2016. p. 173-206