BACKGROUND & PROBLEM
“Doing the right thing!” is getting more crucial to maintaining an organization’s survival and success through keeping reputation; attracting, retaining, and engaging key personnel; and cultivating loyalty among key stakeholders.
A social enterprise is an organization that applies business strategies to maximize improvements in financial, social and environmental well-being through social impact.
The impact investment emerges as a commitment to generate a measurable beneficial financial, social, or environmental impact. Currently, more than 114 billion USD from 208 impact investors is operating as impact investing (GIIN, 2017).
Impact investment in Asia is in the burgeoning stage. Many Asian impact investment funds suffer from finding investment opportunities and exercising exit strategy.
Chinese investors give special attention to Impact investment recently. However, there are a few challenges to build impact investment ecosystem in China.
THE NEED OF CENTER FOR SOCIAL ENTERPRISE AND CHARITY
An integrative collaboration among University-Industry-Government (Triple Helix) is necessary to meet the needs of education, synergy, and opportunity for impact investment. A hub is necessary to orchestrate and synergize academic, industrial, and governmental endeavors for social innovation through impact investment.
WKU is proposing the “Center for Social Enterprise and Charity (CSEC)”
WHY CSEC IN CBPM?
Aligning with the College’s mission of ’Providing high quality education, research, and outreach services’, WKU CBPM actively engages in community business and talent development for public value creation.
CSEC in WKU CBPM would restructure college activities including research, education, and community engagement to vitalize social enterprise actions.
CSEC in WKU CBPM will be organized with the best experts of the social enterprise field of study, and it will synergize the university resources to serve public value creation.
CSEC will provide the best quality of consulting, education, global network services for impact investors (particularly in Wenzhou area)
CSEC will be serving new knowledge for the Government to help to establish the best public policy for social enterprise.
Also, CSEC will provide the strategic consulting service in operating the Wenzhou Charity Federation (温州市慈善总会）.
Establishing the CSEC (Center for Social Enterprise and Charity) in WKU CBPM will integrate and synergize Governmental, Academic, and Industrial actions of impact investment that aim to creating public value for people, community, and the world.
For more detail information, please see the following Proposal.
Dr. Yan (at HKST) published an article of "The Rise of Socially Responsible Investment Funds" at the ASQ journal (Administrative Science Quarterly 2019, Vol. 64(2)466–501, 10.1177/0001839218773324, Impact Factor: 5.4)
He demonstrated the inverted U-shape relationship between Socially Responsible Fund (data from Bloomberg FSRC, SRI category) and Prevalence of Financial Logic (Proportion of the workforce employed in the financial sector). The inverted U-shape relationship is moderated by a few variables like Union, Religion, Green policy.
The article may give us a direction - Impact Investment (Socially Responsibly Fund) is rising in the management field of study.
In the article of "Morality" by Curry, a question rises.
Does the recent rise of socially responsible fund or social enterprise come from the increasing the awareness of people's morality?
Simply, does the more moral people invest in the socially responsible actions (fund or enterprise)?
Because the Morality-As-Cooperation concept is emerged quite recently (Harvard, Chicago, Oxford University collaborate the study), there is no attempt to investigating the relationship between Morality & Social Entrepreneurship. Probably, we can fill this gap.
The final Besharov's book review of "Innovation and Scaling for Impact" may give us a casual understanding about Social enterprise and Impact Investing.
All things integrating, CSEC can explore a new venue in Social entrepreneurship studies in the perspective of Financial, International management, Human Resources, and Managerial practices, and Sustainability.
Sept. 16, 2019 CSEC: Approved as an official Research Institute at WKU.
Application Form (2019. 09. 16)
CSEC Proposal (2019. 09. 16)
Regulation of CSEC
Nov. 18, 2019: Ceremony of Grand Opening of CSEC
Sept. 23, 2019. Donating 2,500 RMB to IAC (Institute of Academic Center, affiliated with IAIC) for Management/Marketing Day event.
Oct. 15, 2019: Approval of CSEC Establishment
June 28, 2020 : The first 2020 Impact Investing Conference in Wenzhou
Presented the Management Paradigm Change Under the COVID-19 Crisis (by Dr. Jerry Choi) @ 2020 Impact Investment International Forum: Opportunities and Challenges of Impact Investment Under the COVID19 Crisis, Wenzhou, China (June 28, 2020).
2020. 09. 07, Annual Report of CSEC 2019-20
2020. 09. 14, 2020 WKU "Research and Creativity" Award (5,000 RMB)
2020. 10. 09, Donating 5000 RMB for Wenzhou Youth Developmental Fund (WKU Foundation)
2020. Oct. 27, Adding a Partner Researcher - Dr. Md Jahidur Rahman
revised application form with added partner researcher
2020. Nov. 24, Donating Air Purifier to CBPM Social Media Lab. (2,900 RBM)
2020. Oct. 30, Conference Presentation - Dynamics of Morality and Positivity on Social Entrepreneurial Intention: WKU-KU ISER Colloquium's Conference Presentation at Social Enterprise & Impact Investing Form (Oct. 30, 2020)
2020. Dec. 01, Adding a General Secretary - Lisa Hua (CEO of OneHRT)
2021. 07. 16: Annual Report AY 2020-21
- 2021.08.14, Added Dr. Jahid's publications:
2022.10.02: Annual Report AY 2021-22
2022. 12. 19: Annual Evaluation and Assessment Result (OK: Budget 10,000 RMB).
2023. 02.02: Visiting the Zero Waste Shop Baram in South Korea.
To resume the international collaboration of social enterprise activities and solidarities, Dr. Choi visited Baram (Zero Waste Shop) in Yeokgok, Bucheon, South Korea.
The community Union shop "Baram" is a Zero Waste Shop for Environmental and Social Sustainability Activities.
Dr. Choi visited the Shop to talk about international collaboration and solidarities on Feb. 02, 2023.
2023. 05. 30: Annual Report
Dr. Rahman's Achievement
• Rahman, M. J., & Zhu, H. (2023). Predicting accounting fraud using imbalanced ensemble learning classifiers–evidence from China. Accounting & Finance. [ABDC (A) and SCImago (Q1), SSCI] https://doi.org/10.1111/acfi.13044
• Rahman, M.J., Zhu, H. and Jiang, X. (2023), "Family firms, client importance, and auditor reporting behavior: evidence from China", Meditari Accountancy Research, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/MEDAR-08-2022-1787
• Hossain, M. M., M. Rahman., and Rahman, M.J. (2023). Covid 19 corruption in the public health sector - Emerging evidence from Bangladesh. Health Policy and Planning. Oxford University Press. [SCImago (Q1), SSCI] https://doi.org/10.1093/heapol/czad036
• Rahman, M.J., Zhu, H. and Hossain, M.M. (2023), "Auditor choice and audit fees through the lens of agency theory: evidence from Chinese family firms", Journal of Family Business Management, Vol. ahead-of-print No. ahead-of-print [SCImago (Q1)] https://doi.org/10.1108/JFBM-02-2023-0027
• Rahman, M. J., & Ziru, A. (2022). Clients’ digitalization, audit firms’ digital expertise, and audit quality: evidence from China. International Journal of Accounting & Information Management, (ahead-of-print). [SCImago (Q1)] https://doi.org/10.1108/IJAIM-08-2022-0170
• Rahman, M. J., & Chen, X. (2022). CEO characteristics and firm performance: evidence from private listed firms in China. Corporate Governance: The International Journal of Business in Society, (ahead-of-print). [SCImago (Q1)] https://doi.org/10.1108/CG-01-2022-0004
• Rahman, M.J. and Liu, H. (2023), "Intellectual capital and firm performance: the moderating effect of auditor characteristics", Asian Review of Accounting, Vol. ahead-of-print No. ahead-of-print. [SCImago (Q2), ABDC (B), ABS (2)] https://doi.org/10.1108/ARA-03-2022-0054
• Rahman, M.J., Zhu, H. and Hossain, M.M. (2023), Accounting Fraud and Corporate Sustainability: Chinese Listed Companies. Journal of Financial Crime, (ahead-of-print). [SCImago (Q2), ABDC (B)] DOI: 10.1108/JFC-02-2023-0035
• Khan, E. A., Cram, A., Wang, X., Tran, K., Cavaleri, M., & Rahman, M. J. (2023). Modelling the impact of online learning quality on students' satisfaction, trust and loyalty. International Journal of Educational Management, (ahead-of-print). [SCImago (Q2), ABDC (B), SCOPUS, ESCI] https://doi.org/10.1108/IJEM-02-2022-0066
• Rahman, M. J., Yangfan, G., Hossain, M. M., & Rana, T. (2023). Cloud Accounting: A New Business Model in Challenging Context of China. In Handbook of Big Data and Analytics in Accounting and Auditing (pp. 163-175). Singapore: [Springer Nature] 10.1007/978-981-19-4460-4_8
2023. 05. 30: Dr. Jahid Rahman's Achievement (2023) updated.
2022. 12. 19: Annual Evaluation and Assessment Result (OK).
2022.10.02: Annual Report AY 2021-22
2021.08.14: Added Dr. Jahid' 2021-21 publications
2021. 07. 16: Annual Report (AY 2020-21)
Annual Report Template:
2020.12.01: Updated General Secretary Ms. Lisa Hua (CEO of OneHRT.com)
2020.10.27: Updated partner researchers (added Dr. Jahid)
2020.10.19: Donating 5000 RMB to WKU Foundation
2020.09.14: Research & Creativity Award from WKU (2020)
2020. 09.07: CSEC 2020 Annual Report
2020. 07.13: Strategic Planning for Handan, Danhe Project
2020. 06. 23: Impact Investment Conference participation.
2019. 10. 15: CSEC Approval from WKU
2019, 09. 23: Added the Donation Activity
2019. 04.26: Added the contents of the writing.
2019. 04. 23: Initially published
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