Resumen de The rise of socially responsible investing: a multi-level institutional analysis
What is driving the emergence of socially responsible investing? This dissertation explores this question with both quantitative and qualitative methods and utilizes an institutional theory lens. Essay 1 finds that the decomposable nature of the prevailing financial logic provides an opportunity for carriers of alternative logics to claim their socially oriented end-goals. However, the findings also suggest that not all actors can take advantage of the decomposed dimension of the financial logic. Essay 2 complements this idea and provides a qualitative analysis of how financial means compel SRI fund founders to conform with the prevailing financial end-goals. Rather than utilizing financial means, essay 3 finds that a powerful state can accidentally enable an SRI niche through a broad and vague sustainable development policy that leads to a shared orientation and a public pool of resources. This dissertation contributes to research on institutional theory, market emergence, socially responsible investing.
