Sustainable and ethical leadership in the financial industry expand in importance since the financial crisis of 2007–2009. This research examined the level of sustainable and ethical leadership of leaders in mortgage loan originator (MLO) organizations, as perceived by loan originators. The Perceived Leadership Survey (PLIS) developed by Craig and Gustafson (Leadersh Q 9(2):127–145, 1998) and the Sustainable Leadership Questionnaire (SLQ) developed by McCann and Holt (Int J Sustain Strat Manage 2(2):204–210, 2011) were utilized for this research. The survey results yielded (...) high levels of both ethical and sustainable leadership. Employees also felt their leadership was encouraging ethical and sustainable behavior. However, correlations between the PLIS and SLQ did not prove to be dependent or closely correlated. (shrink)

Interviews were conducted with 15 entrepreneurial feminists to explore how feminist values are enacted in opportunity recognition and organizational structures within the venture-creation process. Results suggest that opportunity recognition aligned with the needs and values of the entrepreneurial feminists. Opportunity construction was defined as ‘I am the market’, ‘building community with women like me’, ‘enabling others’, ‘do more with my life’, and ‘opportunity knocked’. Organizational structures and governance reflected cooperative, collaborative and ethical principles. Implications to feminist theory are discussed.

Heeding the call for a deeper understanding of how cross-sector social partnerships can be managed across different contexts, this article integrates ideas from institutional theory with current debate on cross-boundary collaboration. Adopting the point of view of business actors interested in forming a CSSP to address complex social problems, we suggest that “appropriateness” needs shape business approaches toward partnering for social change, exerting an impact on the benefits that can be gained from it. A theoretical framework is proposed that identifies (...) and frames four CSSP styles, as resulting from combinations of dominant institutional orientations in a field and its general level of coherence. We show how, depending on prevailing institutional logics, intervention models underlying the CSSP have to emphasize either the business soundness of the initiative or its social value, together with a consistent leadership style. Moreover, while directive approaches based on concentrated governance structures aimed at setting the rules of the game are shown to prevail in fields characterized by low level of institutional coherence, participative models emerge in more established fields, with CSSP’s promoter playing an integrative role through distributed governance structures. The article concludes with a summary and implications of an institutional-based view of CSSPs. (shrink)

Research on the normative aspect of leadership is still a relatively new enterprise within the mainstream of leadership studies. In the past, most academic inquiry into leadership was grounded in a social scientific paradigm that largely ignored the ethical substance of leadership. However, perhaps because of a number of public and infamous cases of failure in business leadership, in recent years there has been renewed interest in the ethical side of leadership in business. This paper argues that ethical issues of (...) leadership actually arise at number of different levels, and that it is important to distinguish between various diverse kinds of ethical issues that arise in the study of leadership. The three levels identified are the level of the individual morality of leaders, the level of the means of their leadership, and the level of the leadership mission itself. We argue that only by fully understanding all of the different levels of ethical analysis pertinent to business leadership, and the distinctive kind of issues that arise at each level, can we fully integrate normative studies of leadership into the field of leadership studies. As such, this paper offers a model that incorporates three different levels of ethical analysis that can be used to study normative issues in leadership studies. Such a model can be used to better understand and integrate ethical issues into research, teaching, and training in leadership. (shrink)

AbstractDespite the evident importance of imagination in both ethical decision-making and entrepreneurship, significant gaps remain in our understanding of its actual role in these processes. As a result, scholars have called for a deeper understanding of how imagination impacts value creation in society and how this critical human faculty might more profoundly connect our theories of ethics and business decision-making. In this paper, we attempt to fill one of these gaps by scrutinizing the underlying philosophical foundations of imagination and applying (...) them to the challenges facing entrepreneurs attempting to create new value in an increasingly unpredictable and kaleidic world. Accordingly, we apply a view of imagination developed by the pragmatist philosopher John Dewey to the radically subjective economic philosophy of G.L.S Shackle. As a result, we develop a concept of imagination which we believe can be both significant and hopeful for research at the intersection of business ethics and new value creation. (shrink)

There is a “Pragmatist turn” visible in the field of organization science today, resulting from a renewed interest in the work of Pragmatist philosophers like Dewey, Mead, Peirce, James and others, and in its implications for the study of organizations. Following Wicks and Freeman, in the past decade Pragmatism has also entered the field of business ethics, which, however, has not been uniformly applauded in that field. Some scholars fear that Pragmatism may enhance already existing positivist and managerialist tendencies in (...) current business ethics, while others see more emancipatory potential in Pragmatism, arguing that it complements and supports stakeholder theory. In this paper, a comparison of the philosophical underpinnings of Pragmatist and Critical conceptions of business ethics is offered, concentrating on the Pragmatism of John Dewey and the Critical theory of the Frankfurt School, in particular of Axel Honneth. It is argued that these two developed along two converging lines. Along the first line, Dewey was far more skeptical and critical of capitalism than is often thought. Along the second line, the reactions to Pragmatism of Frankfurt School Critical theorists developed over time from generally hostile, to partially inclusive, to more fully integrative. At the crossroads of these converging lines a Pragmatist Critical perspective is developed and exemplified, and its implications for business ethics are outlined. (shrink)

This article explores impact investing within the renewable energy sector. Drawing on ethical decision making and sensemaking, this article contributes to an enhanced understanding of the complex ethical sensemaking process of impact investors when facing plausible situations in a world of contested truths. Addressing the ethical tensions faced by impact investors with mixed motives, this study investigates the way decision makers use context-specific reasons to make sense of and shape the renewable energy investment process. This represents an initial attempt to (...) understand ethical sensemaking in impact investing made within the renewable energy sector using a multi-stakeholder approach. Our findings show that prosocial, personal, reputational, and economic motives are the main drivers of REI, with prosocial and personal motives being value-based, and reputational and economic motives being evidence-based. We find three different modes of ethical sensemaking, allowing for the construction of the four motives noted above. These motives are based on the context-specific reasons of impact investing decision makers in the RE sector. This article contributes to the academic discourse on ethical sensemaking with some key processes involved in ethical decision making, and a better understanding of the underlying motivations of impact investing in the RE sector. (shrink)

Based on an abductive analytic study, we examine financial and social value incorporation in the multi-valued market of impact investing. This paper draws on interviews with investment professionals in 54 charitable foundations, intermediary and field building organizations in the impact investing market, to compare market objectives with practice, and to determine whether social and financial values are incorporated, thus producing ‘returns’ of both types through market exchange. We find unincorporated valuation is apparent at both the market level and for several (...) types of investors in contrast with the incorporated or even integrated valuations of other investors. This demonstrates that rather than incorporating logics in a binary or hybrid way, valuation in the moral market of impact investing occurs in a multiplicity of ways and on different levels of the market, depending on a variety of factors including adherence to traditional financial market standards and market design and maintenance. (shrink)