SWD-Schlagwörter: Social entrepreneurship, Franchising, Agency-Theorie, Agentur, Unternehmer. - Freie Schlagwörter (Deutsch): Social Entrepreneurship, Social Franchising, Agenturtheorie, Stewardship Theorie, Skalierung. - Freie Schlagwörter (Englisch): Social Entrepreneurship, Social...

Passion – in the sense of fervent commitment to action – and compassion – understood as sensitive openness for social and ecological concerns – are not a sure formula for business success. Whether social or ecological entrepreneurs, who find themselves under pressure from market...

I present a model of financing social enterprises to delineate the role of impact investors relative to “pure” philanthropists. I characterize the optimal scale and structure of a social enterprise when financed by grants, and when financed by investments. The analysis yields two heuristics...