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This study aims to understand the importance of participatory governance in the identity of social enterprises (SEs). To this end, this paper provides a framework by means of the value co-creation process and by drawing from the service-dominant logic perspective and the stakeholder theory. An explanation is also provided regarding the opportunity to include fundamental issues in defining SE collective identity, such as those related to an organisation’s participatory nature of involving the stakeholders affected by its activities, the exercise of democratic decision-making and its autonomy from the state and market.

On the statistical exploitation of a large international data set, the authors approach the conceptualisation of SEs by providing an index to measure their social, economic and governance characteristics, thereby enabling these enterprises to be categorised into different groups.

This study found that the inclusion of the governance dimension in the research incorporates the greatest variability between the various models of SE, thereby justifying participatory governance as the raison d’être of the two fundamental schools in SE, namely, Anglo-Saxon and European.

This research offers a tool to policymakers to be used as a criterion of classification and hierarchical organisation for public procurement. It enables the various organisations to be ordered and takes social and cultural influence into consideration. This tool would be highly useful as a support of social entrepreneurship from the public environment, especially at the local level.

This study justifies the value of incorporating participatory governance as a distinctive dimension for the definition of categories of SEs. Furthermore, an index to craft taxonomies of SEs is developed based on social, economic and governance indicators, which provides a framework that facilitates the empirical research of the SE.

This article studies the role played by sustainability operations management (OM) practices in the relationship between governance and environmental and social performance adopting the lenses of the upper echelons theory and the resource-based view. In particular, the authors study three main relationships: (1) the impact of governance on the implementation of sustainability OM practices, (2) the impact of sustainability OM practices on sustainability performance and (3) the mediating role of sustainability OM practices in the relationship between governance and sustainability performance.

To test this study’s research model, the authors retrieved secondary data of 430 firms from the United Stated (US) and Europe and analyzed it using partial least squares (PLS)-based structural equation modeling (SEM).

This study’s results suggest that sustainability OM practices are needed to achieve higher social and environmental performance outcomes from governance, highlighting the key role of the OM department in the achievement of a sustainability strategy.

This paper adopts the environmental, social, governance (ESG) neglected focus and aims to provide a better understanding of and reveal the interrelationship between governance and sustainability OM practices (i.e. environmental and social).

Lately, sustainability issues are increasingly affecting all sectors, even if oil and gas industry is highly required to improve its social performance because of the societal pressure to environmental protection and social welfare. Sustainability concerns and corporate governance features and practices are more and more connected because sustainability has been perceived as a crucial topic by owners and managers. In this perspective, the empirical analysis aims to explore whether and to what extent, sustainability-oriented corporate governance model is linked with social performance.

By adopting a multi-theoretical framework that includes the legitimacy theory, the stakeholder theory and the resource-based view theory, this analysis used a sample of 42 large European-listed companies belonging to the oil and gas industry. The authors run fixed effects regression models by using a dependent variable, i.e. the social score, available in ASSET4 Thomson Reuters, and some independent variables focused on sustainable corporate governance models, stakeholder engagement, firm profitability, market value and corporate risk level.

Drawing upon the investigation of a moderating effect, findings display that stakeholder engagement is positively associated with corporate social performance and it can be considered an important internal driver able to shape a corporate culture and most likely to address corporate social responsibility issues.

This study confirms the need to develop an organizational and holistic approach to corporate governance practices by analyzing internal and external governance mechanisms. From the managerial perspective, managers should opt for a sustainable corporate governance model, as it is positively correlated with corporate social performance.

There is an urgent need to investigate sustainability issues and their potential association with firm internal mechanisms, particularly in the oil and gas industry. This paper can extend the current body of knowledge by pointing out a positive relationship between stakeholder engagement and firm social performance.

This paper strives for stressing the need for tourism enterprises' (TEs') policy/governance innovation towards more social responsibility for stimulating their competitiveness. The purpose is to develop suggested content-related guidelines for developing social responsible TE policy and to show the practical implementation guidance for implementation of the theoretical research. According to the authors' knowledge, this has not yet been researched in the field of tourism industry (TIN).

The MER model of integral management has been upgraded by Mulej's Dialectical Systems Theory. The authors considered all relevant and only the essential aspects needed for a requisitely holistic approach towards developing the guidelines for innovating the TEs' policy/governance.

Innovation of TEs' policy/governance is possible only with the requisitely holistic and dialectical approach. TEs that will be able to track the suggested guidelines of tourism policy/governance innovation towards holism, systemic thinking, social responsibility, and sustainable tourism are more likely to succeed. Therefore, the stimulating of competitiveness and innovation of the TIN can be achieved through enterprises' policy/governance innovation that the authors suggested.

The TEs can establish socially (and otherwise) responsible enterprise policy/governance in accordance with the recommendations developed here.

The given suggestions are not known in available literature. The paper exposes the need for holism and consistency of TEs' development potential and interdependently examines the overlaying areas of TEs' policy/governance, social responsibility, and holism/wholeness. The Dialectical Systems Theory systemic approach exposes the need to innovate enterprise policy/governance, if humankind is to survive.

This paper aims to examine the concept of participatory governance through membership in the context of the tailor-made legal form for social enterprises in Greece, i.e. the social cooperative enterprise (Koinsep). As such, the paper aims to contribute to the theoretical discussion regarding the participation of stakeholders in the governance of social enterprises not only as a theoretical construct prescribed by law but also by examining its implementation in practice.

The development of two in-depth case studies demonstrate whether and how the application and implementation of legal requirements regarding governance and membership permit and encourage stakeholders to participate in the decision-making processes of social enterprises. The study accordingly showcases the influence exerted by the legal regime over the social enterprise.

The case studies demonstrate how participatory governance is not realised in a formal manner in the organisational set-up of two social enterprises. It thereby shows how stakeholders and employees participate informally in the decision-making processes of Greek social enterprises, although legislation is conducive to formal means of participation.

This study is part of a larger project involving a comparative research of tailor-made legal forms of social enterprises and corresponding organisations in three jurisdictions, i.e. Greece, Belgium, and the UK. In this study, the research was limited to the legal form of Koinsep.

This paper also contributes to the development of a better understanding of the Koinsep as a new tailor-made legal form for social enterprises in Greece. It therefore, sheds light in its function and its participatory governance structure.

The study is an original attempt to theoretically and practically examine the subject of participatory governance in the Greek social enterprises context.

This paper aims to take an economic transaction governance approach to explore the determinants for the effectiveness of the social practice of client entertainment in facilitating business relationships in China.

The analysis is based on a broader theoretical framework which posits that exchange relationships are regulated through a combination of market, legal and social relational mechanisms and client entertainment plays a governance role by reinforcing social relational governance to regulate the behaviors of economic actors. Upon this framework, this study proposes that the social behavioral features of client entertainment affect the effectiveness of client entertainment in facilitating exchange relationships and that time moderates such effects. These hypotheses were tested on survey data collected from a sample of Chinese sales managers.

Empirical results indicate that the effectiveness of client entertainment in facilitating exchange relationships is associated with its social behavioral features that could reinforce social relational governance, including intensity (i.e. value and frequency) and format (i.e. intimacy and observability) of entertainment activities, and the time factor plays a moderating role.

This study can potentially help policymakers to regulate client entertainment, and business practitioners to manage entertainment spending, more effectively and efficiently without causing legal and ethical problems.

This is the first study that takes an economic transaction governance perspective to directly explore how the social practice of client entertainment plays a constructive role in China’s economic life and what factors affect its effectiveness in playing such a role. It offers guidelines for policymakers, business managers and future research to manage and study this practice.

This research study examines the impact of social and governance initiatives on financial performance of global banks. The study is significant in the context of massive changes in regulations, government policy, social attitudes and market development attributed to banking sector.

The source of data for this study was ESG database of Thomson Reuters. The study was based on 472 global banks. The research paper uses two-stage least square model and the study covered the five-year period 2015–2019.

Banks with high intensity of social and governance-related activities have positive market-based valuation effects. Adequately capitalized banks tend to invest more in social initiatives. Banks' governance initiatives directed toward the use of anti-takeover defensive mechanisms are skeptically perceived by markets. Riskier banks tend to have less investments in social initiatives.

The findings are relevant in the context of expectations from policymakers, consumers and investors with respect to the role which banks ought to play in funding the development of a sustainable economy. The research finding that strong governance and social initiatives by banks are value-enhancing measures is a clear evidence of the significance of ESG initiatives as value-creating mechanisms as perceived by markets.

This study addresses the gap in the research, which examines the role of governance and social initiatives on value creation in the banking sector firms. The study examines the impact of different elements of governance and social initiatives on financial performance of banks.

This paper analyzes how a national social enterprise policy encourages the social missions of social enterprises and uncovers the relationships between social enterprise governance and labor equity, an area that has been rarely studied in nonprofit governance studies.

The study analyzes the effects of four legal requirements for work-integrated social enterprises (WISEs) codified by the Social Enterprises Promotion Act (SEPA, 2007) in South Korea. Then, it relies on panel regression analysis (2020–2022) to examine how the compositions of the governance of WISEs are related to their hiring and wage equity.

The institutional arrangements required by SEPA have resulted in positive social impacts for most WISEs. However, the results of regression models show that individual participant groups in the WISE governance achieved mixed results depending on the labor issue.

Generally, this research explores the concept of diversity and its utility in nonprofit governance, with a particular focus on targeted diversity policies, demonstrating that governance arrangements influence the success of these policies.

The findings bring new insights for policymakers about “altruistic economic entities.” For practitioners in social enterprises, the results of the regression models underscore the importance of understanding the participant composition of decision-making meetings.

This study sheds light on labor equity, which government-certified social enterprises should achieve from the perspective of nonprofit governance.

This paper aims to explore the potential configurations of governance, brand governance and social media strategies leading to effective organizational performance.

A fuzzy-set Qualitative Comparative Analysis including 28 Canadian national sport organizations (NSOs) and six conditions highlighted two sufficient configurations for effective organizational performance, defined as either budget per capita or athlete numbers.

Although no single component of governance, brand governance, or social media strategy is necessary to succeed overall, brand reputation and the strategic use of social media to communicate NSO identity were common to both identified configurations. Accountability was important for effective organizational performance in terms of budget per capita, while transparency was more important for higher athlete numbers. Thus, condition specificity is paramount in non-profit organizations that often have multiple objectives.

This study provides substantial theoretical and managerial implications, including the need to integrate brand governance and social media in non-profit organizations' overall governance activities.