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The paper examines the key driving factors behind the rapid and uneven growth of social enterprises in China based on Kerlin’s Macro-Institutional Social Enterprise (MISE) model of social enterprise development, with an emphasis on testing key local institutional factors.

The study adopts the quantitative method approach. The hypotheses have been tested based on a cross-regional empirical analysis with two national datasets on China.

This study shows that among the state, market and civil society, local government support in terms of favorable policies is the sole determinant factor driving China’s social enterprise growth. On the other hand, the market is irrelevant and local civil society impedes social enterprise growth. This demonstrates that the current growth model is the result of government intervention.

The datasets have a limited sample size. We suggest that future studies may collect a larger sample size with more comprehensive information. We think this study will encourage more comparative qualitative studies at the local level to reveal the underlying mechanisms of growth.

Since government policy is the determinant factor, the quality and quantity of government-backed incubation programs and platforms would matter the most for social enterprise growth. Our study also helps social entrepreneurs understand what factors matter when they try to develop social enterprises in China. They are advised to work on aspects of gaining legal legitimacy and political support in order to grow the sector.

This conclusion suggests that professionals and practitioners should review the implications of the current growth of social enterprises in China, in terms of their sustainability, given their institutional isolation from other sectors.

Current studies have yet to thoroughly explore the role of meso- and micro-institutional factors in social enterprise development, especially in different contexts. With reference to Kerlin’s framework and the tri-sector model, this paper advances the understanding of social enterprise growth in China.

The purpose of this research is to investigate the effect of characteristics of capitalism on environmental performance.

The authors analyzed a sample of 6,257 companies, based in 55 countries and 8 typologies of capitalism. The independent variables are the characteristics of capitalism, measured through five indicators: cooperation between employees and employers, index of economic freedom, local competition between industries, human development index (HDI) and quality of the governance environment. To measure environmental performance, the authors created an index composed of 20 indicators. Data were analyzed using panel data regression and dynamic panel of the generalized method of moments.

The results indicate that the characteristics of capitalism can shape the environmental behavior of companies. The authors find that in countries with better cooperation between employees and employers, more economic freedom, and competition between firms, in addition to better HDI and national governance, companies have higher environmental performance. When they are in more developed countries, companies have a greater environmental performance.

Managers must consider the country's characteristics of capitalism when making their environmental decisions and strategies. The findings invite governments to incorporate into their regulations mechanisms to protect other interest groups, not just shareholders.

Few studies have examined environmental performance, which is less susceptible to greenwashing. The metric for environmental performance measures the company's concrete effort in relation to environmental issues and not just the disclosure of information. Additionally, the authors examine characteristics of capitalism supported by Varieties of Capitalism, an approach still little explored in the environmental management.

Nested within institutional theory and the political economy perspective, this study aims to examine Chinese outward foreign direct investments (OFDI)-supporting organizations and fostering mechanisms for its SMEs in Europe’s largest economy, Germany.

The authors conduct a multiple-case study to present rich insights from elite interviews with representatives of Chinese and German governmental organizations, intermediary parties and specialized OFDI consultants. In addition, the authors analyze secondary data such as presentations, websites, brochures, social media and recent Chinese OFDI policies for SMEs. The findings are triangulated by interviewing business owners and senior executives of seven Chinese SMEs that have invested in Germany.

Cooperating with Germany’s federal government, China’s ministries implemented an effective OFDI support network in Germany, which connects and benefits both economies. This includes Chinese governmental organizations, privately-held national champions, German–Chinese business associations and linked intermediary parties. These organizations support SMEs through four main mechanisms: networking and information, mutually beneficial knowledge transfer between innovation partners, lobbying for potential cooperation and an objective picture of Chinese OFDI and facilitating investment services.

This study advances OFDI theory and contributes to the growing discussion on the internationalization of Chinese SMEs by shedding light on China’s OFDI support organizations and mechanisms in the German market. The study also offers practical contributions. Understanding better how governments can spur internationalization is vital, as it determines the effectiveness of policymaking and fosters international mutual understanding, cultural exchange and firm growth and innovation (Ahlstrom, 2010), and hence ultimately contributes positively to society. Moreover, knowing the specific OFDI support organizations and measures China is currently adopting can serve as a helpful orientation for Chinese entrepreneurs who plan to invest in Germany.

This article aims at contributing to the literature using conjoint experiment methods for political economic problems. The author measures the stated willingness of young adults to start an enterprise in hypothetical realities described by different levels of six institutional factors pertaining to the business environment.

The author conducts the “forced-choice” conjoint experiment on a sample of 200 young Polish students. This analysis allows for the verification of the expectations concerning the differences in the respondents' stated preferences relating to the potential obstacles to their entrepreneurial inclinations. The author estimates the average marginal component effects (AMCEs) and the marginal means (MMs).

Evidence is provided that the institutional factors are not similarly significant to the stated entrepreneurial preferences of Polish young adults. Legal certainty and economic freedom are the attributes of the most notable effect on respondents' feelings about perceived entrepreneurial barriers; however, the results vary across the subgroups.

The study results provide a tentative perspective on the Polish young adults' feelings about institutions as a potential obstacle to their entrepreneurial inclinations. The employment of conjoint methodology lays the groundwork for scholars studying the entrepreneurial environment, legal institutions and current public mood of different social groups.

This study is a unique attempt to answer political economic questions concerning entrepreneurial institutions in Poland through the implementation of a comprehensive market research method. In addition, the author indicates a specific set of six institutional factors as well as define a distinct group of young adults.

This paper aims to determine the demand category and level of government and investors in public–private partnership (PPP) projects. It emphasizes the importance of meeting the demands of stakeholders and controlling the unreasonable demands. This study aims to improve the demand management of stakeholders in the PPP project and lay a foundation for the research on behavior based on the motivation theory.

This paper opted for a questionnaire survey to collect data based on indicators identified through literature. The participants come from the government and private sector (investors, contractors, operators, etc.) in China PPP Lecture Hall. The reliability, validity and variance analyses are used to test the reliability of data. Factor analysis and entropy method are used to determine demand categories and weights.

The government’s 14 demands are divided into four groups: satisfy public activities, self-interest, responsibility and relief financial pressure; 6 investor's demands are divided into development ability and satisfy social activities. The self-interest of government is higher than that of the publicity in PPP projects; investor's social reputation is most important, it is a foundation for obtaining external resources and achieving enterprise development.

Because of the chosen research approach, the demand indexes cannot be exhausted. Therefore, researchers are encouraged to enrich relevant contents further.

This paper includes implications for a targeted demand control mechanism and for managing the unreasonable demand.

This paper comprehensively identifies the demand hierarchy of the government and investors, and provides the theoretical basis for the target management of stakeholders.

All over the world, countries are searching for ways to foster innovation and growth through startups. This viewpoint paper presents the aims, development procedure and contents of Germany's “Startup Strategy,” published for the first time in 2022, along with a fundamental assessment of its potential usefulness.

In this opinionated viewpoint paper, the authors provide an overview of the strategy's contents and discuss it against established policy frameworks focusing on the determinants of innovative entrepreneurial activity and the potential consequences of the strategy on the micro-, meso- and macro levels of the German economy. Additionally, the authors evaluate and analyze the strategy's proposed fields of action to illustrate its potential impact on innovative entrepreneurial activity.

The strategy's development avoids considering an evidence-based, fundamental framework to structure its fields of action and instead relies on diverse input from various entrepreneurial agents. As a result, it emphasizes access to finance for startups and building entrepreneurial capabilities as its main fields of action. On the one hand, the authors show how the contents of the German “Startup Strategy” can be matched with the OECD (2017) framework. On the other hand, the authors offer detailed insights into how the “Startup Strategy's” fields of action might influence the German economy's micro, meso and macro levels.

To the best of the authors' knowledge, this article is the first one commenting on the German government's first-ever published startup strategy. Hence, this might offer several starting points for other researchers to analyze future startup strategies. Also, comparing such strategic approaches in other European countries and beyond might be a starting point for developing public policies in this field. Also, researchers on entrepreneurial ecosystems and innovation ecosystems will find concrete anchor points for these subject areas.

Policymakers can use this viewpoint paper to devise future actions. The paper provides concrete fields of action on the individual and company levels, as well as on a national economic and regional ecosystem level, to derive such recommendations.

Germany is one of the strongest economic nations in the world and by far in Europe. Hence, this startup strategy comes with the potential for substantial impact. This viewpoint paper may inspire the development of other national strategies to create a positive economic and societal environment supporting the emergence of more innovative startups. In particular, the strategy's focus on diversity and social entrepreneurship seems promising.

This study aims to investigate the association between board diversity and systematic risk. The theoretical framework used in this study is based on agency and resource dependency theories.

Using a panel data set of 788 firms listed in the Morgan Stanley Capital International (MSCI) Emerging Markets index from 2015 to 2020, the authors apply Panel-Corrected Standard Error estimation method to test the three proposed hypotheses and the two-stage least squares method is adopted for the endogenous test.

The results suggest that board-specific skills diversity (BSSD) and board independence (BIND) have a negative impact on systematic risk. On the other hand, board gender diversity does not affect systematic risk. The findings reinforce the relevance of board diversity for reducing systematic risk and offer valuable insights for policymakers and investors, suggesting that the presence of directors with specific skills and independent directors could reduce firms’ systematic risk.

The study extends the scope of agency and resource dependency theories by suggesting that the BSSD and BIND reduce agency costs and bring critical resources to the firm’s survival.

The findings support policymakers and managers in reducing systematic risk. In addition, the results demonstrate the importance of policies that encourage board diversity and BIND.

The study demonstrates how companies can reduce systematic risk through board diversity and BIND.

To the best of our knowledge, this is the first study to investigate the association between board diversity and systematic risk only in emerging markets.

Stakeholder theory understands business in terms of relationships among stakeholders whose interests are mainly joint but may be occasionally conflicting. In the latter case, managers may need to make trade-offs between these interests. The purpose of this paper is to explore the nature of managerial decision-making about these trade-offs.

This paper draws on the ordonomic approach which sees business life to be rife with social dilemmas and locates the role of stakeholders in harnessing or resolving these dilemmas through engagement in rule-finding and rule-setting processes.

The ordonomic approach suggests that stakeholder interests trade-offs ought to be neither ignored nor avoided, but rather embraced and welcomed as an opportunity for bringing to fruition the joint interest of stakeholders in playing a better game of business. Stakeholders are shown to bear responsibility for overcoming the perceived trade-offs through the institutional management of social dilemmas.

For many stakeholder theorists, the nature of managerial decision-making about trade-offs between conflicting stakeholder interests and the nature of trade-offs themselves have been a long-standing point of contention. The paper shows that trade-offs may be useful for the value creation process and explicitly discusses managerial strategies for dealing with them.