TAILIEUCHUNG - SOCIAL ENTREPRENEURSHIP: TAKING STOCK AND LOOKING AHEAD

This is why, in this paper, we study another way of imposing factor structure. It is to take a weighted average of the sample covariance matrix with Sharpe’s (1963) single-index model estimator. The weight ® (between zero and one) assigned to the single-index model controls how much structure we impose: the heavier the weight, the stronger the structure. This is a well-known technique in Statistics called shrinkage dating back to Stein (1956): ® is called the shrinkage intensity, and the single-index model is our choice of shrinkage target. The advantages are that there is strong consensus on the nature of the single factor (a market index), and. | VIESE Business School University of Navarra Working Paper WP-888 November 2010 SOCIAL ENTREPRENEURSHIP TAKING STOCK AND LOOKING AHEAD Johanna Mair IESE Business School - University of Navarra Av. Pearson 21 - 08034 Barcelona Spain. Phone 34 93 253 42 00 Fax 34 93 253 43 43 Camino del Cerro del Águila 3 Ctra. de Castilla km 5 180 - 28023 Madrid Spain. Phone 34 91 357 08 09 Fax 34 91 357 29 13 Copyright 2010 IESE Business School. SOCIAL ENTREPRENEURSHIP TAKING STOCK AND LOOKING AHEAD Johanna Mair1 Abstract This essay sets out to take stock of existing endeavors to conceptualize Social Entrepreneurship. We illustrate the context-specific nature of the phenomenon and derive implications for fostering social entrepreneurship as a positive force for social and economic development. The paper has two main objectives first to stimulate a productive agenda for future research that goes beyond questions of who and what by pursuing the important considerations of where why and how and second in so doing to generate real insights for advances in both theory and practice. Keywords social entrepreneurship institutions capitalism. 1 Associate Professor Strategic Management IESE NOTE Mair J. 2010 Social entrepreneurship Taking stock and looking ahead in A. Fayolle and H. Matlay eds. Handbook of Research on Social Entrepreneurship Edward Elgar Cheltenham Chapter 2. IESE Business School-University of Navarra SOCIAL ENTREPRENEURSHIP TAKING STOCK AND LOOKING AHEAD Social Entrepreneurship a Trend or More Social entrepreneurship is trendy Every year in February social entrepreneurs mingle with the CEOs of the world s largest corporations and prominent politicians at the World Economic Forum in Davos. Social entrepreneurs are the VIPs at other global events such as the Clinton Global Initiative and they are the favourite investees of the new philanthropists the Jeff Skolls or Bill Gates of this world. Although the academic interest in social entrepreneurship is increasing - calls for .

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