Filipe M. Santos, assistant Professor of Entrepreneurship, Academic Director of the Social Entrepreneurship Initiative at INSEAD Business School in France, presents a theory aimed at advancing scholarly research in social entrepreneurship.
By highlighting the key trade-off between value creation and value appropriation and explaining when situations of simultaneous market and government failure may arise, Santos suggest that social entrepreneurship is the pursuit of sustainable solutions to problems of neglected positive externalities. He further discusses when positive externalities are likely to be neglected and derive the central goal and logic of action of social entrepreneurship.
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