Crowdfunding for Responsible Entrepreneurship

Tenner, Isabell; Hörisch, Jacob

doi:10.1007/978-3-658-31616-7_6

Cited by 1 publication

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“…On the other side, ICFPs, though with their specificities, are a form of CF which is shaped by its Western institutional roots (Bruton et al, 2015) which exert a pressure to align with international CSR regulations, in line with normative isomorphism which holds that firms Islamic crowdfunding platforms behave similarly through professionalization processes (DiMaggio and Powell, 1983), increasingly enacted in the context of CF (Tenner and H€ orisch, 2020). Professional logicas reflected in the mission and guidelines provided by several international associations that have emerged in the field of CSR and sustainability-has become the dominant normative reference point in today's business environment (Arena et al, 2018) and exertswith its own norms and principles-a huge influence on the interpretations of social and environmental responsibilities of businesses worldwide.…”

Section: Introductionmentioning

confidence: 99%

The innovation potential of Islamic crowdfunding platforms in contributing to sustainable development

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PurposeThis paper aims at explaining variances in the contribution of Islamic crowdfunding platforms (ICFPs) to sustainable development (SD), by adopting an institutional logic perspective (ILP). ICFPs represent a dual institutional overlap between two logics (the Western-mainstream and the Islamic logic) which have an impact on corporate social responsibility (CSR) interpretations, practices, and decisions and whose conflicts are mitigated by choosing different resolution strategies. The authors aim at showing that this choice affects SD differently.Design/methodology/approachThe authors develop a conceptual typology through the following steps: (1) choice of variables and identification of corresponding variable domains, through literature review. Variables chosen are the elemental CSR dimensions related to various social and environmental corporate responsibilities to whom diverse meaning and emphasis are given under the Western-mainstream and Islamic logics. (2) Identification of three distinct ideal types of ICFPs, building on different resolution strategies to mitigate conflicts between logics; (3) development, for each ideal type, of a set of implications related to SD; (4) implementation of a first test aiming at assigning real cases to each ideal type.FindingsThe authors identify Western-mimicking (platforms adopting as resolution strategy decoupling or compartmentalizing strategies), Islamic-driven (platforms focusing on one prevailing logic) and Syncretism-inspired (platforms adopting hybridizing practices) ideal-types.Originality/valueIt is the first paper suggesting ILP to explain variances in crowdfunding platforms' role in addressing SD. It focuses on a specific type of CF platforms till now neglected.

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