Sustainability, Stakeholder Governance, and Corporate Social Responsibility

Social movements can disrupt existing industries and inspire the emergence of new markets by drawing attention to problems with the status quo and promoting alternatives. We examine how the in fl uence of social movements on entrepreneurial activity evolves as the markets they foster mature. Theoretically, we argue that the success of social movements in furthering market expansion leads to three related outcomes. First, the movement-encouraged development of market infrastructure reduces the need for continued social movement support. Second, social movements ’ efforts on behalf of new markets increase the importance of resource availability for market entry. Third, market growth motivates countermovement that reduce the bene fi cial impact of initiator movements on entrepreneurial activity. We test these arguments by analyzing evolving social movement dynamics and entrepreneurial activity in the US wind Sustainability, Stakeholder Governance, and Corporate Social Responsibility Advances in Strategic Management, Volume 38, 339 364 power industry from 1992 to 2007. We discuss the implications of our fi ndings for the study of social movements, stakeholder management, sustainability, and entrepreneurship.