Extending the Realistic Theory to a Dynamic Life Cycle Theory of Social Enterprise

  • Arvind AshtaEmail author


How can the development of microfinance in developed countries (Chapter  3) and in developing countries (Chapter  4) inform theory and make it evolve from a static theory to a more dynamic one? Ashta’s significant contribution in this chapter is to summarize in a theoretical framework, that of the industry life cycle, the different propositions for social entrepreneurship that emanate from a study of microfinance. His first eight propositions came from the static realistic theory, but even some of these are modified, once he includes the discussion of life cycles. The last four propositions are new and come largely by studying the evolution of financial inclusion initiatives in developed countries.


Social entrepreneur Social enterprise Transformation Subsidies Microfinance Stakeholders 


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Copyright information

© The Author(s) 2020

Authors and Affiliations

  1. 1.CERENBurgundy School of BusinessDijonFrance

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