When institutional change outruns the change agent: The contested terrain of entrepreneurial microfinance for those in poverty |
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| Authors: | Susanna Khavul Helmuth Chavez Garry D Bruton |
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| Institution: | 1. Department of Management, University of Texas at Arlington, 701 S.West Street Room 231, Arlington, TX 76019-0467, United States;2. School of Business, Universidad Francisco Marroquín, 6 Calle Final Zona 10, Guatemala, 01010, Guatemala;3. Department of Management, M.J. Neeley School of Business, Texas Christian University, Box 298530, Fort Worth, TX 76129, United States;4. Department of Business Administration, Sun Yat-sen Business School (SYSBS), Guangzhou, China |
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| Abstract: | 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. |
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| Keywords: | Entrepreneurial finance Microfinance Regulation Emerging economies Informal economy |
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