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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This publication has been prepared within INDIGISE project. The content of this publication is the sole responsibility of the project coordinator and may not always reflect the views of the European Commission or the National Agency.