We study mission drift in social enterprises by examining whether these organizations stick to the actual mission enshrined in their mission statements. We use data from micro!nance organizations (MFOs), a homogeneous group of social enterprises which have been scrutinized—and sometimes...

Social enterprises in the microfinance industry need to adhere to both financial and social demands. Critics argue that there is a mission drift away from the social mission, and this has motivated the introduction of social rating agencies to strengthen the business ethics of microfinance...