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Previous literature has emphasized that social enterprises (SEs) are challenged by their pursuit of divergent social and financial goals, often resulting in tensions leading to a mission drift. This study aims to provide an alternative view wherein these organizations fail to make deliberate and exclusive choices between their goals. In this paper, the authors critically review previous findings on mission drift and present a new concept built on the paradox theory.

This conceptual paper draws upon previous literature on mission drift in SEs. The authors took an integrative review approach to provide an overview of the topic in which the research is still interdisciplinary. The paradox theory approach has been used to guide the discussion and expand the findings.

The authors put forward the concept of spaces of vulnerability, which arise from the tensions faced by SEs between their social and financial objectives and which can lead them to suffer mission drift. The authors propose to shift attention from the sources and strategies of mission drift to the processes involved in the composition of those spaces where missions can become more vulnerable but not necessarily drift.

This perspective adds value to practitioners by increasing the likelihood of SEs surviving multiple logics and clarifying conflicts between social and financial goals in advance. Founders and managers might not only balance their dual missions but also understand their respective roots underlying typologies with regards to decision-making.

The authors enrich the literature by exploring how SEs can deal with tensions related to their multiple goals and sustain their social mission in the long term by offering a theoretical discussion and new forms to consider their dual objectives.

The purpose of this work is to present a procedure for determining the wind drift factor through two-dimensional computational fluid dynamics (CFD) simulations of the wind acting on a wavy sea surface, such that the subjectivity of its estimation is reduced.

The wind drift factor was determined by two-dimensional CFD analyses with open-channel condition. The characteristic wave was determined by the Sverdrup–Munk–Bretschneider (SMB) method. The uncertainty analysis is based on convergence studies using a single parameter refinement (grid and time step).

This procedure allows the estimation of the wind drift factor in a fetch-limited domain. The domain's value in the analyzed region is 0.0519 ± 4.92% which is consistent with the upper values of the wind drift factors reported in the literature.

The use of a three-dimensional domain was impractical with the available computational resources because of the fine mesh required for wave modeling. The uncertainty analysis consisted only of a verification procedure. Validation against real data was not possible because of the lack of measured data in the analyzed region.

The wind drift factor is usually estimated based on either experience or random sampling. The original contribution of this work is the presentation of a CFD procedure for estimating the wind drift factor, in which the domain inlet is subjected to a wave boundary condition and to a wind velocity.

This paper aims to identify the direct impact of fund style drift on the risk of stock price collapse and the intermediary mechanism of financial risk, so as to better protect the interests of minority investors.

This paper takes all the non-financial companies on the Chinese Growth Enterprise Market from 2011 to 2020 as study object and selects securities investment funds of their top ten circulation stocks to study the relationship between fund style drift and stock price crash risk.

Fund style drift is likely to add stock price crash risk. Financial risk is positively correlated with stock price crash risk. Fund style drift affects stock price crash risk via the mediating effect of financial risk, and fund style drift and financial risk have a marked impact on the stock price crash risk of non-state enterprises, yet a non-significant impact on that of state-owned enterprises.

This paper links fund style drift with stock price crash risk in an exploratory manner and enriches the study perspectives of relationship between institutional investors’ behaviors and stock price crash risk, thus enjoying certain academic value. On the one hand, it furnishes a new approach to the academic frontier issue concerning financial risk and stock price crash risk, and proves that financial risk is positively correlated with stock price crash risk. On the other hand, it regards financial risk as a mediating variable of fund style drift for stock price crash risk and further explores different influencing mechanism of institutional investors’ behaviors.

The purpose of this paper is to reexamine the stock price drifts after open-market stock repurchase announcements by differentiating actual repurchases from repurchase announcements and by controlling for the repurchasing firms’ earnings improvement in the announcement year relative to the prior year.

The authors use the calendar-time method and matching method based on different criteria to calculate the post-announcement abnormal returns.

The results show that only firms actually repurchasing their shares exhibit a positive post-announcement drift. More importantly, the authors find that these repurchasing firms have the same post-announcement drift as their matching firms that have similar size and earnings performance but do not repurchase. This supports the argument that the post-repurchase announcement drift found in previous studies is not a distinct anomaly but the post-earnings announcement drift in disguise.

The post-repurchase announcement drift found in previous studies is the post-earnings announcement drift in disguise.

The study shows that because high earnings performance positively relates to real repurchase activities, controlling for earnings performance in examining whether a drift occurs after repurchase announcements.

A new method of studying the accelerated ageing of interconnection materials is applied to a high‐stability thick film resistor system (the Du Pont HS‐80 system). The new method, referred to hereafter as the in‐situ method, allows measurement of the electrical resistance of a thick film resistor to a resolution of a few ppm during accelerated ageing. With the in‐situ technique, the electrical resistance measurements are performed at the elevated ageing temperature during the ageing treatment, whereas with the conventional ageing method the resistance measurements are carried out at room temperature, between subsequent annealing steps. The measuring resolution obtainable with the in‐situ method is orders of magnitude better than with the conventional method. The ageing kinetics can therefore be studied on a shorter time scale and in greater detail than with the conventional method. In this paper, the authors use the in‐situ method to study the accelerated ageing of the Du Pont HS‐80 thick film resistor system, encapsulated with a proper glaze. It will be shown that kinetics of the resistance drift observed in this system cannot be described by an Arrhenius‐type equation. The ageing data can only be interpreted in terms of a kinetic model incorporating a spectrum of activation energies for the ageing process. Such a model is given, and is shown to provide a good explanation of the observed ageing behaviour. The physical process that causes the observed ageing is most probably diffusion of silver from the contacting terminals into the amorphous matrix of the thick film resistor.

The purpose of this paper is to explore and analyze the effectiveness of long period supplementary zone rules that can simultaneously increase chart sensitivity to small process drift and not significantly increase the false alarm rate.

A stable, on‐target process was simulated and drift induced into the process. The rates of drift varied from 0.03σ to .0003σ per subgroup measurement. A total of 613 different supplementary zone rules were implemented in conjunction with the three‐sigma limiting rule. For each combination, 100,000 observations were simulated and the effect on the false alarm rate and increase in chart sensitivity estimated. An effectiveness measure was developed to relate false alarm rate to chart sensitivity.

A total of 87 rules were uncovered which effectively detected a wide range of process drifts. When the increase in chart sensitivity is discounted by the false alarm rate, 13 rules increased chart sensitivity by over 10 percent. These rules were based on longer rather than shorter rule length.

The effective rules discovered form a nonlinear pattern in the space the examined rules define. This indicates a direction for future research outside the scope of this study. These rules are also easy to implement in existing Shewhart chart applications where the process drifts at an unknown rate.

While supplementary trend rules have been studied in the past, the extension to zone rules has not been made. This study begins to fill that void and indicates the direction for future efforts in the area.

This study aims to explore the serendipitous discovery of integrated reporting (IR) by Alpha, an Italian small and medium-sized enterprise (SME). Alpha piqued the curiosity when the authors discovered that it experimented with IR alongside other management accounting practices, such as the Balanced Scorecard. As the authors reflected on Alpha’s experiences, the authors had to opportunistically develop a new framework to understand the change that was taking place at Alpha fully. Thus, the authors developed the serendipitous drift framework. This study contributes to addressing the gap between management accounting research that sees change as a planned, ordered process versus research that sees it as an unmanageable drift.

The authors ground the research on a qualitative methodology based on a single case study. This methodology allows us to focus on understanding what has happened at Alpha to discover new themes and provide theoretical generalisations. The authors developed the framework using middle-range thinking and fleshed it out using empirical findings from the case study. Middle-range thinking implies going back and forth between the theory and the empirical material. Therefore, the authors develop the serendipitous drift framework from prior theories and use it to inform the empirical study. In turn, the empirical material collected in Alpha helps refine and flesh out the serendipitous drift framework. The framework explains how Alpha leveraged serendipity to steer change towards favourable outcomes for them.

The authors find that the search for change undertaken by Alpha’s managers was non-specific but purposeful. Their dispositions were sagacious enough to recognise the potential value found in management accounting practices, such as IR and the Balanced Scorecard. They chanced upon new and unforeseen practices through trial and error, iteration, internal engagement and networking.

Overall, the results indicate that Alpha’s managers shaped the disorder of management accounting changes, even though it followed unexpected, uncertain and messy paths. Indeed, appropriate informal controls can act as a frame of reference for choosing, adapting and implementing new management accounting practices to shape the disorder. Informal controls can both guide and bound the experimentation process towards desirable outcomes.

The authors contribute to management accounting change theory by developing a framework rooted in serendipity and drifting theories. The framework identifies how searching, sagacity and chance are essential for making positive, unexpected discoveries. Therefore, the authors provide novel insights on how and why IR and other management accounting practices are eventually translated and adopted in the case company. Moreover, the serendipitous drift framework has the potential to help managers frame cultural controls to actively seek opportunities for valuable serendipitous eureka moments through networking and experimentation.

Examines trend rules in conjunction with other well‐known supplementary runs rules to assess their impact when used in control charting. Focuses on a set of 613 trend rules deemed as potential candidates to increase the sensitivity of the control chart. The examined rules are viewed in the light of a stable environment, which determines the false alarm rate, and then in an environment in which the process mean is subjected to drift. Results indicate that there are subsets of trend rules that aid in the detection of out‐of‐control conditions depending on the severity of the drift and the number of zonal‐based supplementary runs rules used.

The purpose of this paper is to investigate the relation between voluntary accounting changes (VACs) and post-earnings announcement drift. In addition, the authors examine how accounting choice heterogeneity moderates such association.

The authors collect VAC firms in the US in the period from 1994 to 2008 and identify the heterogeneity of accounting choices between VAC and non-VAC firms. To test the hypotheses, the authors consider a 10-Q filing window and a post-filing drift window. The 10-Q filing window begins from one trading day before and ends on one trading day after the quarterly report filing date. The post-filing drift window begins from two trading days after the filing date and ends on 60 trading days with respect to the earnings announcement date.

The results demonstrate that, overall, VAC does not affect the three-day market reactions to 10-Q filings. However, after taking into account the accounting choice heterogeneity, the authors observe that VAC is positively related to the market reactions to surprises and negatively associated with the post-filing period drift.

The paper contributes to the literature by showing that VACs affect the market’s responses to 10-Q filings only when such change results in different accounting practices compared to the VAC firm’s major competitors. Furthermore, given the change with heterogeneity requires more time to process, VACs are related to post-filing announcement drift.

The purpose of this paper is to investigate empirical evidence of drift from social goals (mission drift) among Indian microfinance institutions (MFI).

The study used multiple proxies, namely, loan size, operating efficiency and equity as dependent variables to avoid the complexities in interpreting mission drift solely through loan size. The study uses data from 211 Indian MFI for the period of 1985–2014. The dynamic panel data estimation method of Arellano and Bond (1991) is used for the analysis to avoid endogeneity issues in the data estimation.

The study finds that efficiency and change in average loan balance are characterized by higher lending rates and higher profitability to firms. Higher lending rates imply poverty premium which means that poor pay more for the same services than their rich counterparts. Equity results in movement toward safer borrowers and a consequent mission drift.

The study uses self-reported data from organizations provided through Microfinance Information Exchange.

Access to credit to the poor is an important poverty alleviation goal and present study will contribute toward policy formation in institutional provision of credit and banking services to the poor.

To the best of the authors’ knowledge, present study is the first to use alternative proxies in the form of operating efficiency and equity to explore relationships between the variables that can help to better understand the phenomenon of mission drift.