When institutional change outruns the change agent: The contested terrain of entrepreneurial microfinance for those in poverty

We argue that institutional change moves through stages punctuated by recurring attempts to formally redefine the boundaries and logics of organizational fields that institutional entrepreneurs initially establish. With a grounded theory model, we demonstrate that institutional change in microfinanc...

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Bibliographic Details
Published inJournal of business venturing Vol. 28; no. 1; pp. 30 - 50
Main Authors Khavul, Susanna, Chavez, Helmuth, Bruton, Garry D.
Format Journal Article
LanguageEnglish
Published New York Elsevier Inc 01.01.2013
Elsevier Sequoia S.A
Subjects
Emerging economies
Entrepreneurial finance
Entrepreneurs
Entrepreneurship
Informal economy
Microfinance
Organizational change
Poverty
Regulation
Studies
Emerging economies
Regulation
Entrepreneurial finance
Microfinance
Informal economy
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Summary:We argue that institutional change moves through stages punctuated by recurring attempts to formally redefine the boundaries and logics of organizational fields that institutional entrepreneurs initially establish. With a grounded theory model, we demonstrate that institutional change in microfinance started with dominant development logic, shifted to market logic, and got stuck in a conflict over regulatory logic. We show how the role of the entrepreneur can change markedly over time while the institutional change process continues unabated. We present institutional entrepreneurship as an evolving phenomenon and suggest that the interplay between institutional entrepreneurs and established organizational fields is highly nuanced.
ISSN:0883-9026
1873-2003
DOI:10.1016/j.jbusvent.2012.02.005