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16 pages, 1100 KiB

Open AccessArticle

An Overview of Ecopreneurship, Eco-Innovation, and the Ecological Sector

by María Rodríguez-García, María Guijarro-García and Agustín Carrilero-Castillo

Sustainability 2019, 11(10), 2909; https://doi.org/10.3390/su11102909 - 22 May 2019

Cited by 44 | Viewed by 10674

Abstract

Given the current trend toward a more sustainable and environmentally-friendly economy, the overlap between entrepreneurship and sustainability has become a key research area. Part of this trend is the emergence of ecopreneurial businesses. These businesses are pioneers in using innovation to achieve sustainable [...] Read more.

Given the current trend toward a more sustainable and environmentally-friendly economy, the overlap between entrepreneurship and sustainability has become a key research area. Part of this trend is the emergence of ecopreneurial businesses. These businesses are pioneers in using innovation to achieve sustainable growth by exploiting market opportunities. This article presents an overview of the concepts of ecopreneurship, eco-innovation, and the ecological sector. A rigorous review of the literature in this area is presented. The results of this review show the key values and principles that are central to this new stream of research and shed light on opportunities for further research. The primary conclusion is that there is a need for collective collaboration between ecopreneurs, consumers, and producers to achieve long-term sustainability. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

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18 pages, 475 KiB

Open AccessArticle

Context as a Provider of Key Resources for Succession: A Case Study of Sustainable Family Firms

by M. Dolores Botella-Carrubi and Tomas F. González-Cruz

Sustainability 2019, 11(7), 1873; https://doi.org/10.3390/su11071873 - 28 Mar 2019

Cited by 19 | Viewed by 4664

Abstract

Although succession is the single most important issue in family-owned businesses (FOBs), there is scarce comprehensive and integrative analysis of the context (i.e., the social, organizational, and normative setting) where succession events occur. Research usually focuses on the success or failure of succession [...] Read more.

Although succession is the single most important issue in family-owned businesses (FOBs), there is scarce comprehensive and integrative analysis of the context (i.e., the social, organizational, and normative setting) where succession events occur. Research usually focuses on the success or failure of succession processes, instead of the risks faced by FOBs during succession. The succession process takes time and multiple actors are involved. Therefore, succession is influenced by uncertainty and unforeseen events. This study addresses the aforementioned gap in the literature by investigating how context can reduce the risk of failure in succession. Based on organizational change theory and the resource-based view, this study considers family and business circumstances where interactions between actors take place and succession occurs. Since the research goal is deeply embedded in context, this paper presents a comparative case study of three Spanish FOBs that have experienced different kinds of organizational change in relation to management succession. The main conclusion is that risk of succession failure depends not only on detailed process design and planning, but also on a well-developed firm and family context that provides sufficient familiness resources to cope with unexpected events and address conflicts. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

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19 pages, 297 KiB

Open AccessArticle

Key Determinants on Non-Governmental Organization’s Financial Sustainability: A Case Study that Examines 2018 FIFA Foundation Social Festival Selected Participants

by Mauricio Javier Córdova Paredes, Ferran Calabuig Moreno and Manuel Alonso Dos Santos

Sustainability 2019, 11(5), 1411; https://doi.org/10.3390/su11051411 - 6 Mar 2019

Cited by 6 | Viewed by 4873

Abstract

The main purpose of this article is to map determinant attributes that define and enable financial sustainability in sport non-governmental organizations associated with international development (SNGDOs). An exploratory case study examined through a two staged mixed approach the 48 organizations, chosen by FIFA [...] Read more.

The main purpose of this article is to map determinant attributes that define and enable financial sustainability in sport non-governmental organizations associated with international development (SNGDOs). An exploratory case study examined through a two staged mixed approach the 48 organizations, chosen by FIFA Foundation to participate at the 2018 World Cup Russia 2018 Social Festival, mirroring football from a different dimension, distant to the competitive perceptions normally assigned to this sport. The main outcome was to note that Global South countries SNGDOs´ financial sustainability is dependent on international aid agencies funds whilst in the Global North there is higher leverage on corporate partnerships. Financial sustainability should not be seen as an isolated topic in the management agenda of SNGDOs in the quest of new sources of income. This is rather a process of construction and assessment that implies on the one hand a wider approach on stakeholder expectations and on the other an overall strategical re-definition towards collaborative value creation. In view of the broad extension of nonprofit organizations, this study contributes to the still unexplored field of sport for development. Moreover, this academic exercise proposes a critical view of contrasting results through dependency theory. Some biases may exist within the consideration of a particular context, and the specificities of the examined organizations in the case study. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

31 pages, 340 KiB

Open AccessArticle

Inclusions in and Exclusions from the S&P 500 Environmental and Socially Responsible Index: A Fuzzy-Set Qualitative Comparative Analysis

by Juan Pineiro-Chousa, Noelia Romero-Castro and Marcos Vizcaíno-González

Sustainability 2019, 11(4), 1211; https://doi.org/10.3390/su11041211 - 25 Feb 2019

Cited by 25 | Viewed by 5293

Abstract

Socially responsible investment (SRI) indices provide an interesting opportunity to analyse the links between corporate financial performance (CFP) and corporate sustainability performance (CSP). However, few studies focus on the antecedents of inclusions in and exclusions from SRI indices. Specifically, the implications of corporate [...] Read more.

Socially responsible investment (SRI) indices provide an interesting opportunity to analyse the links between corporate financial performance (CFP) and corporate sustainability performance (CSP). However, few studies focus on the antecedents of inclusions in and exclusions from SRI indices. Specifically, the implications of corporate sustainability disclosure (CSD) have been largely ignored in this field. Furthermore, previous literature on the CSP-CSD-CFP links shows inconclusive results that have been attributed to both methodological and measurement problems, which suggest the existence of asymmetry, equifinality and complexity amongst these links. This study targets two under-researched areas regarding the determinants of changes in the composition of SRI indices, and the effects of CSD on CSP. This study also attempts to overcome the methodological and measurement limitations of previous studies on the CFP-CSD-CSP links. The study presents a fuzzy-set qualitative comparative analysis (fsQCA) to explore how different combinations of CFP and CSD indicators are related to inclusions in an SRI index (assumed as expressions of a good CSP), and exclusions from an SRI index (equivalent to a poor CSP). The empirical results reveal that a combination of different CSD indicators is necessary, but not sufficient, to lead to the inclusion in or exclusion from an SRI index, and that CFP measures have asymmetrical effects on CSP. CSD is a relevant antecedent or precondition of CSP that can motivate changes in corporate behaviours towards an improved CSP. Poor CSP, leading to an exclusion from the index, is associated with poor CSD and a deterioration of CFP. The implications for researchers, business managers, SRI rating agencies and policymakers are derived. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

23 pages, 260 KiB

Open AccessArticle

Evaluating the Intra-Industry Comparability of Sustainability Reports: The Case of the Oil and Gas Industry

by Andrea Cardoni, Evgeniia Kiseleva and Simone Terzani

Sustainability 2019, 11(4), 1093; https://doi.org/10.3390/su11041093 - 19 Feb 2019

Cited by 39 | Viewed by 11697

Abstract

Environmental, social, and governance (ESG) data are in high demand in financial markets. However, the ESG data provided by companies do not allow for use in the investment decision-making process. The main limiting point for this is a lack of comparability across companies. [...] Read more.

Environmental, social, and governance (ESG) data are in high demand in financial markets. However, the ESG data provided by companies do not allow for use in the investment decision-making process. The main limiting point for this is a lack of comparability across companies. This paper analyzes the problem of comparability with the aim to evaluate the intra-industry comparability of sustainability reports, framing the analysis on Global Reporting Initiative (GRI) Standards and discussing the results with the support of legitimacy and stakeholder theories. Drawing upon stakeholder and legitimacy theories, as well as financial and sustainability accounting concepts, we propose a theoretical framework of comparability and a methodology to evaluate the level of comparability on a sector-specific basis. The methodological approach adopted in this study is broadly qualitative, with the use of a multiple-stages model. Based on the example of one industry, we discovered that, despite comparability being mostly relevant to the listed companies from the oil and gas sector, the sustainability reports of these companies are still not comparable. Our findings reveal that, despite the availability of a large amount of ESG data and the existence of sustainability frameworks, the problem of comparability is still relevant even for companies that are theoretically most inclined to be comparable. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

15 pages, 1368 KiB

Open AccessArticle

Ambidextrous Leadership, Social Entrepreneurial Orientation, and Operational Performance

by Carla Martínez-Climent, María Rodríguez-García and Juying Zeng

Sustainability 2019, 11(3), 890; https://doi.org/10.3390/su11030890 - 9 Feb 2019

Cited by 27 | Viewed by 6754

Abstract

In the knowledge era, new forms of organizing and managing firms emerge to adapt to new situations. One such new form of organizational management is ambidextrous leadership. Ambidextrous leadership combines opening leader behaviors, such as promoting creativity, and closing leader behaviors, such as [...] Read more.

In the knowledge era, new forms of organizing and managing firms emerge to adapt to new situations. One such new form of organizational management is ambidextrous leadership. Ambidextrous leadership combines opening leader behaviors, such as promoting creativity, and closing leader behaviors, such as accomplishing objectives and adhering to norms. Thus, the aim is to demonstrate that a social orientation is not at odds with measures of operational performance other than profitability. The purpose of this study is to examine how ambidextrous leadership is linked to social entrepreneurial orientation and how this in turn affects operational performance. This is done through a rigorous review of the literature. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

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21 pages, 315 KiB

Open AccessArticle

Is Sustainability Reporting a Business Strategy for Firm’s Growth? Empirical Study on the Romanian Capital Market

by Mihai Carp, Leontina Păvăloaia, Mihai-Bogdan Afrăsinei and Iuliana Eugenia Georgescu

Sustainability 2019, 11(3), 658; https://doi.org/10.3390/su11030658 - 27 Jan 2019

Cited by 30 | Viewed by 7059

Abstract

This study analyzed the impact of sustainability reporting on firms’ growth as a result of adopting an environmentally and socially responsible behavior. The information published by companies listed on the main section of the Bucharest Stock Exchange during a period spanning six financial [...] Read more.

This study analyzed the impact of sustainability reporting on firms’ growth as a result of adopting an environmentally and socially responsible behavior. The information published by companies listed on the main section of the Bucharest Stock Exchange during a period spanning six financial years (2012–2017) was used to assess the influence exerted by the conduct of activities related to sustainability; the integrated reporting of economic, social and environmental protection information; and the quality of published reports on certain indicators relevant to appreciating a firm’s growth (price-to-book ratio, sales growth and cost of capital). The results obtained indicate a low influence of sustainable reporting on a firm’s growth indicators. Current and potential investors, lenders and business partners interpret sustainability reporting as insufficiently documented and as having a low capacity for integration within the decision-making process. However, significant dependency relationships were identified, and particularized on various connections without following a correlation pattern between a firm’s growth directions and the indicators of sustainability reporting. The results remain robust even after the introduction of certain control variables, such as sustainability sensitive industry sectors, company size and age, or increase of investments. Our paper sets out to contribute to expanding the specialty literature by highlighting the involvement of sustainable reporting as a factor in optimizing firms’ growth strategies and, at a methodological level, by using a quantile regression. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

10 pages, 262 KiB

Open AccessArticle

Does Social Network Sentiment Influence S&P 500 Environmental & Socially Responsible Index?

by M. Ángeles López-Cabarcos, Ada M. Pérez-Pico and M. Luisa López-Pérez

Sustainability 2019, 11(2), 320; https://doi.org/10.3390/su11020320 - 10 Jan 2019

Cited by 22 | Viewed by 3655

Abstract

The influence of social network sentiment on stock market indices and companies has been proven in several studies. However, the influence of social network sentiment on sustainability indices and sustainable companies has not been analyzed so far. Therefore, this study analyzed the influence [...] Read more.

The influence of social network sentiment on stock market indices and companies has been proven in several studies. However, the influence of social network sentiment on sustainability indices and sustainable companies has not been analyzed so far. Therefore, this study analyzed the influence of social network sentiment on sustainability indices (S&P 500 Environmental & Socially Responsible Index) and focused on variations of this influence on sustainable and non-sustainable companies, namely, in companies included in the Information Technology sector. To this end, two methodologies were used: GARCH (1,1) models and logit-probit models. The results showed that social network sentiment influences S&P 500 Environmental & Socially Responsible Index’s volatility; this influence was greater than the influence of social network sentiment when considering the S&P 500 Index. Additionally, the results showed that social network sentiment influences sustainable companies’ returns but had no effect on unsustainable companies’ returns. These results highlighted the importance of managing the companies’ profiles in social networks and their corporate image in general, because investors will consider these aspects to design their investment strategies. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

19 pages, 296 KiB

Open AccessArticle

How Does R&D Investment Affect the Financial Performance of Cultural and Creative Enterprises? The Moderating Effect of Actual Controller

by Zhipeng Zang, Qiwei Zhu and Helena Mogorrón-Guerrero

Sustainability 2019, 11(2), 297; https://doi.org/10.3390/su11020297 - 9 Jan 2019

Cited by 19 | Viewed by 4950

Abstract

R&D investment has a sophisticated correlation with the financial performance of cultural and creative enterprises. In this study, using the panel data of listed cultural and creative enterprises in China from 2011 to 2013, we found that R&D investment has positive impacts on [...] Read more.

R&D investment has a sophisticated correlation with the financial performance of cultural and creative enterprises. In this study, using the panel data of listed cultural and creative enterprises in China from 2011 to 2013, we found that R&D investment has positive impacts on financial performance in both the current and the lag periods. However, these positive impacts are moderated by actual controllers. More specifically, there is a positive moderating effect on enterprises’ financial performance when the central government is the actual controller. On the other hand, there is no evident effect when the actual controller is a local government or a state-owned enterprise, and there is a clear negative moderating effect on financial performance when a natural person is the actual controller. Given these findings, we argue that local governments and state-owned enterprises should improve their long-term strategies for the cultural and creative enterprises they control and reduce actions forced by short-term economic goals. Additionally, local governments and state-owned enterprises should fundamentally stress the role of R&D in order to handle the pressure of increasingly keen competition from international companies’ technological innovation programs. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

23 pages, 687 KiB

Open AccessArticle

Towards Economic Corporate Sustainability in Reporting: What Does Earnings Management around Equity Offerings Mean for Long-Term Performance?

by Joanna Lizińska and Leszek Czapiewski

Sustainability 2018, 10(12), 4349; https://doi.org/10.3390/su10124349 - 22 Nov 2018

Cited by 28 | Viewed by 3697

Abstract

Companies are very important contributors to the long-term sustainable wealth of economies and society. Public companies are likely to be especially important for economic, environmental, and social development. That is why we focus on initial public offerings (IPO). Responsible external reporting relates to [...] Read more.

Companies are very important contributors to the long-term sustainable wealth of economies and society. Public companies are likely to be especially important for economic, environmental, and social development. That is why we focus on initial public offerings (IPO). Responsible external reporting relates to the long-term value of companies and influences perceptions of value by stakeholders. This study contributes to the literature not only because it concentrates on earning quality in terms of going public, but it also combines it with another market puzzle, namely, long-term value. Previous conclusions for other markets should not simply be generalized for Poland, as the country has been an emerging market with many public firms controlled by insiders, with a limited role for the equity market and quite considerable bank financing. Using a unique dataset, we find positive and significant discretionary accruals in the IPO year, which may be perceived as a sign of poor earning quality. We also show that these accruals are negatively correlated with subsequent long-term market value for IPOs made before the financial crisis. The general conclusions are robust with respect to the latest innovations in proxies for earnings management, and also to a variety of alternative specifications. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

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13 pages, 251 KiB

Open AccessArticle

Ethical Versus Conventional Banking: A Case Study

by Francisco Climent

Sustainability 2018, 10(7), 2152; https://doi.org/10.3390/su10072152 - 25 Jun 2018

Cited by 27 | Viewed by 13437

Abstract

The 2008 financial crisis has changed the structure of banking, generating public distrust in the conventional financial system. An alternative has emerged as a result of this lack of confidence. This alternative is known as ethical banking. A growing number of investors, asset [...] Read more.

The 2008 financial crisis has changed the structure of banking, generating public distrust in the conventional financial system. An alternative has emerged as a result of this lack of confidence. This alternative is known as ethical banking. A growing number of investors, asset managers, and financial intermediaries have incorporated sustainability considerations into their business practices. This paper discusses the origins of ethical banking and describes its primary characteristics. The goal is to determine whether ethical banking can be as profitable as conventional banking despite only investing in projects based on social values. A comparative analysis is performed to identify differences between an ethical bank (Triodos Bank) and a conventional bank (Banco Santander). The analysis was conducted to study the financial activity of both banks over a four-year period (2012–2015). The balance sheets, profit and loss accounts, liquidity ratios, indebtedness, and returns provided by both banks were analyzed. The results indicate that ethical banking is less profitable than conventional banking. Nevertheless, customers are attracted to the social investments and financial transparency that characterize ethical banking. Over the study period, Triodos Bank experienced a greater increase in the number of employees and the volume of loans and deposits than did Banco Santander. Triodos Bank invests in social and environmental projects. This investment approach makes it less profitable than Banco Santander. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

16 pages, 1057 KiB

Open AccessArticle

The Role of Environment in Sustainable Entrepreneurial Orientation. The Case of Family Firms

by Felipe Hernández-Perlines and Manuel Alejandro Ibarra Cisneros

Sustainability 2018, 10(6), 2037; https://doi.org/10.3390/su10062037 - 15 Jun 2018

Cited by 25 | Viewed by 5755

Abstract

This study analyzes the role of the environment in the sustainable entrepreneurial orientation on the international performance of family firms. The results have been analyzed with Partial Least Squares regression. The three most important contributions of this work are: (1) The definition of [...] Read more.

This study analyzes the role of the environment in the sustainable entrepreneurial orientation on the international performance of family firms. The results have been analyzed with Partial Least Squares regression. The three most important contributions of this work are: (1) The definition of sustainable business orientation as a third-order composite that integrates entrepreneurial orientation and corporate social responsibility is adequate as it presents appropriate values of reliability and validity; (2) entrepreneurial orientation is the main component of sustainable entrepreneurial orientation, with having corporate social responsibility a plus for entrepreneurial orientation; and (3) sustainable entrepreneurial orientation manages to explain 58.6% of the variability in the international performance of family firms and, finally, the environment has a positive moderating role, increasing up to 73.5%. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

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11 pages, 286 KiB

Open AccessArticle

Evaluation of Corporate Websites and Their Influence on the Performance of Olive Oil Companies

by Enrique Bernal Jurado, Adoración Mozas Moral, Miguel Jesús Medina Viruel and Domingo Fernández Uclés

Sustainability 2018, 10(4), 1274; https://doi.org/10.3390/su10041274 - 20 Apr 2018

Cited by 32 | Viewed by 4838

Abstract

Spain is among the largest producers of organic olive in the world. Yet the Spanish organic olive oil sector faces a major commercial problem due to an internal demand that is too small to match the volume of supply. Factors that explain this [...] Read more.

Spain is among the largest producers of organic olive in the world. Yet the Spanish organic olive oil sector faces a major commercial problem due to an internal demand that is too small to match the volume of supply. Factors that explain this problem include the scarcity and scattered nature of points of sale, the lack of information available to consumers, and the very large gulf in the price between organic and nonorganic olive oil. To address these problems, the literature highlights the key commercial role of information and communication technologies (ICTs). The corporate website is a core element around which the company’s e-commerce activity revolves. The goal of this study is to confirm the relationship between business efficiency, measured using data envelopment analysis (DEA), and the quality of the corporate website, measured using the extended Model of Internet Commerce Adoption (eMICA). Although this analysis did not identify a direct relationship between these two variables, fuzzy-set Qualitative Comparative Analysis (fsQCA) revealed that combinations of elements related to corporate website quality (interactivity and processing), organizational, and structural factors (size of firm and outsourcing of ICT management) can have a direct effect on organizational performance, measured in terms of economic efficiency. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

22 pages, 2749 KiB

Open AccessArticle

Sustainable Venture Capital Investments: An Enabler Investigation

by Elena Antarciuc, Qinghua Zhu, Jaber Almarri, Senlin Zhao, Yunting Feng and Martin Agyemang

Sustainability 2018, 10(4), 1204; https://doi.org/10.3390/su10041204 - 16 Apr 2018

Cited by 22 | Viewed by 8280

Abstract

Investing in sustainable projects can help tackle the current sustainability challenges. Venture capital investments can contribute significantly to the growth of sustainable start-ups. Sustainable venture capital (SVC) research is just emerging. This paper identifies enablers for sustainable venture capital investments in Saudi Arabia [...] Read more.

Investing in sustainable projects can help tackle the current sustainability challenges. Venture capital investments can contribute significantly to the growth of sustainable start-ups. Sustainable venture capital (SVC) research is just emerging. This paper identifies enablers for sustainable venture capital investments in Saudi Arabia taking into account different stakeholders and firm’s tangible and intangible resources. Using perspectives from venture capital experts in Saudi Arabia and the grey-based Decision-Making Trial and Evaluation Laboratory (DEMATEL) method, this study pinpoints the most critical enablers and investigates their causal and effect interconnections. The methodological process consists of reviewing the SVC literature and consulting the experts to identify the SVC enablers, creating a questionnaire, acquiring the answers from four experts, analyzing the data with grey-based DEMATEL and performing a sensitivity analysis. The government use of international standards, policies and regulations for sustainable investments, the commitment of the venture capitalists to sustainability and their deep understanding of sustainable business models are the most influential enablers. The paper concludes with implications for different actors, limitations and prospective directions for the sustainable venture capital research. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

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17 pages, 4620 KiB

Open AccessArticle

Aligning Strategy with Sustainable Development Goals (SDGs): Process Scoping Diagram for Entrepreneurial Higher Education Institutions (HEIs)

by Elena Fleacă, Bogdan Fleacă and Sanda Maiduc

Sustainability 2018, 10(4), 1032; https://doi.org/10.3390/su10041032 - 30 Mar 2018

Cited by 67 | Viewed by 14408

Abstract

Seeing that the prosperity of people and society is possible with the aid of sustained and inclusive economic growth of all countries and regions, the sustainable development of our world has gained the particular attention of a wide range of decisional factors; civil [...] Read more.

Seeing that the prosperity of people and society is possible with the aid of sustained and inclusive economic growth of all countries and regions, the sustainable development of our world has gained the particular attention of a wide range of decisional factors; civil society, the business sector, and the scientific community. Education has a decisive impact on changes in the way that societies are coping with national, regional, and global challenges and opportunities brought by sustainable development. The paper addressed the lack of capacity of higher education institutions (HEIs) to integrate the principles and practices of sustainable development into all aspects of education and learning, which hampers the capability to act as an entrepreneurial university. Embarking on the path of sustainable development goals (SDGs) requires HEI to design, launch, implement, and customize specific processes architecture to govern the advance of the sustainability approach. The authors applied the process scoping diagram to capture and conceptualize the educational model needed to guide the HEI through the process of change in its daily operations. The SIPOC method (Supplier, Input, Process, Output, Customer) was applied and with the aid of Visio software tool, the processes relationships were articulated and embedded in the educational model of HEI. Finally, the authors shared their views on the scalability of the model, which may be customized and harmonized in accordance with different HEI’s circumstances and priorities. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

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12 pages, 380 KiB

Open AccessArticle

Factors Affecting Entrepreneurship and Business Sustainability

by Ana Tur-Porcar, Norat Roig-Tierno and Anna Llorca Mestre

Sustainability 2018, 10(2), 452; https://doi.org/10.3390/su10020452 - 9 Feb 2018

Cited by 71 | Viewed by 45639

Abstract

Sustainability is becoming increasingly important for society, and the creation of business ventures is one area where sustainability is critical. We examined the factors affecting actions that are designed to foster business sustainability. These factors are related to the environment, behavior, human relations, [...] Read more.

Sustainability is becoming increasingly important for society, and the creation of business ventures is one area where sustainability is critical. We examined the factors affecting actions that are designed to foster business sustainability. These factors are related to the environment, behavior, human relations, and business activity. Based on questionnaire responses from experts, the Analytic Hierarchy Process (AHP) method was used to rank sustainable business criteria according to their importance for entrepreneurs starting sustainable businesses. The results indicate that the most important drivers of sustainable entrepreneurship are behavioral factors and business factors. Ethical principles and values, together with competitive intelligence, are crucial for undertaking actions that lead to sustainability. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

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21 pages, 871 KiB

Open AccessArticle

Sustainable Entrepreneurship Orientation: A Reflection on Status-Quo Research on Factors Facilitating Responsible Managerial Practices

by Sascha Kraus, Janina Burtscher, Christine Vallaster and Martin Angerer

Sustainability 2018, 10(2), 444; https://doi.org/10.3390/su10020444 - 8 Feb 2018

Cited by 133 | Viewed by 12460

Abstract

With the global financial system having undergone vast changes since the financial crisis of 2007, scientific research concerning the investor’s point of view on sustainable investments has drastically increased. However, there remains a lack of research focused on the entrepreneur’s angle regarding sustainable [...] Read more.

With the global financial system having undergone vast changes since the financial crisis of 2007, scientific research concerning the investor’s point of view on sustainable investments has drastically increased. However, there remains a lack of research focused on the entrepreneur’s angle regarding sustainable oriented investments. The aim of this paper is to contribute to the understanding of sustainable financial markets by bringing together entrepreneurial and financial research. This paper provides a structured literature review, based on which the authors identify three relevant levels that they believe have an effect on the successful implementation of managerial sustainable practices; these are the individual, the firm, and the contextual levels. The results show that on the individual level sustainable entrepreneurs tend to derive their will to act more sustainably from their personal values or traits. On the organizational level, though, it can be concluded that an small and medium sized enterprise’s internal culture and the reconfiguration of resources are critical determinants for adopting a sustainable entrepreneurial orientation. Finally, on the contextual level, researchers have focused on a better understanding of how entrepreneurs can help society and the environment through sustainable entrepreneurship, and how they can act as role models or change agents in light of the fact that the choice of investing or financing based on sustainability is still in its infancy. By providing an overview on facilitating factors for responsible managerial practices on the entrepreneur’s side, this research contributes to a better understanding for both theory and practice on how sustainable practices can be implemented and facilitated. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

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11 pages, 237 KiB

Open AccessPerspective

Open Innovation in Crowdfunding Context: Diversity, Knowledge, and Networks

by Chien-Chi Chu, Ya-Fang Cheng, Fu-Sheng Tsai, Sang-Bing Tsai and Kun-Hwa Lu

Sustainability 2019, 11(1), 180; https://doi.org/10.3390/su11010180 - 1 Jan 2019

Cited by 26 | Viewed by 4892

Abstract

Open innovation is an essential phenomenon in the crowdfunding context. This conceptual piece tends to offer an integrative discussion of three important mechanisms upon which stakeholders of a crowdfunding platform conduct open innovation and value co-creation in crowdfunding sites. These mechanisms include: diversity, [...] Read more.

Open innovation is an essential phenomenon in the crowdfunding context. This conceptual piece tends to offer an integrative discussion of three important mechanisms upon which stakeholders of a crowdfunding platform conduct open innovation and value co-creation in crowdfunding sites. These mechanisms include: diversity, knowing, and networking. We argued that: 1. diverse demographic attributes facilitate multiple-party value co-creation; 2. knowledge of platform stakeholders improves quality of ideas; 3. networking positively impacts on open innovation performance. With such discussions, a theoretical foundation for future research is built and more research issues are stimulated. Full article

(This article belongs to the Special Issue Entrepreneurship and Business Cases for a Sustainable Accounting and Financial System)

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