Designed by law: Purpose, accountability, and transparency at benefit corporations

Cetindamar, D

Designed by law: Purpose, accountability, and transparency at benefit corporations

Cetindamar, D

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Publication Type:: Journal Article
Citation:: Cogent Business and Management, 2018, 5 (1)
Issue Date:: 2018-01-01

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Field	Value	Language
dc.contributor.author	Cetindamar, D https://orcid.org/0000-0002-0457-3258	en_US
dc.date.issued	2018-01-01	en_US
dc.identifier.citation	Cogent Business and Management, 2018, 5 (1)	en_US
dc.identifier.uri	http://hdl.handle.net/10453/121898
dc.description.abstract	© 2018 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. The article explores the realization of major goals of the Benefit Corporation (BC) law, which is a corporation form designed for social enterprises in the United States in 2010. BCs have a dual mission of generating both profit and social value and hence they might have the potential to transform society. This paper attempts to observe the first movers established as BCs during the period of 2010–2012. By adopting the institutional theory approach, the study examines the realization of the BC law’s three major goals: purpose, accountability, and transparency. The paper utilizes the regulatory legitimacy concept to measure the discrepancy between design and implementation of law. The observations point out some of the challenges of establishing new innovative organizations through an institutional intervention of a law. Conclusions consist of implications of the study as well as suggestions for further studies.	en_US
dc.relation.ispartof	Cogent Business and Management	en_US
dc.relation.isbasedon	10.1080/23311975.2018.1423787	en_US
dc.title	Designed by law: Purpose, accountability, and transparency at benefit corporations	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	5	en_US
utslib.for	1503 Business and Management	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology/School of Information, Systems and Modelling
utslib.copyright.status	open_access
pubs.issue	1	en_US
pubs.publication-status	Published	en_US
pubs.volume	5	en_US

Abstract:

© 2018 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. The article explores the realization of major goals of the Benefit Corporation (BC) law, which is a corporation form designed for social enterprises in the United States in 2010. BCs have a dual mission of generating both profit and social value and hence they might have the potential to transform society. This paper attempts to observe the first movers established as BCs during the period of 2010–2012. By adopting the institutional theory approach, the study examines the realization of the BC law’s three major goals: purpose, accountability, and transparency. The paper utilizes the regulatory legitimacy concept to measure the discrepancy between design and implementation of law. The observations point out some of the challenges of establishing new innovative organizations through an institutional intervention of a law. Conclusions consist of implications of the study as well as suggestions for further studies.

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http://hdl.handle.net/10453/121898