Abstract:
Social enterprises (SEs) primarily aim to create social value i.e. generate benefits or reduce costs for society, while maintaining financial sustainability. They typically step in when both the government and private sector fail to address social problems, a market failure condition. In order to address such problems, SEs need to mobilize the required resources. However, such a market failure situation may lead to an acute shortage of resources, posing serious challenges for the operation of SEs. Further, SE in emerging economies faces even greater challenges for resource mobilization owing to the large-scale demand for social entrepreneurship activities, when facing scarcity of institutional financing and growing suspicion about the activities of social organizations...
