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Between you and I: A portfolio theory of the circular economy
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE). ESCP Business School, Paris, France.
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.ORCID iD: 0000-0003-0499-2927
2021 (English)In: Ecological Economics, ISSN 0921-8009, E-ISSN 1873-6106, Vol. 190, article id 107190Article in journal (Refereed) Published
Abstract [en]

By using resources more circularly, individual resources users hope to contribute to a more eco-efficient and sustainable resource use. Whether resources are used sustainably is decided at the macro-level, raising the question if, as well as how, the efficient and circular use of resources at the micro-level adds up to their efficient and circular use on the macro-level. Currently, the link between the circular use of resources at micro- and macro-levels is under-theorized. The symbiotic relationship between individual resource users enables a reduction in the resource use at the macro-level. In this conceptual paper, we argue that an analogous link exists in finance where desirable investment return is linked to undesirable investment risk, and that via the generation of efficient portfolios, individual risks are at least partially diversified away. As our main contribution, we theorize the circular economy, both in its perfect and imperfect forms, using modern portfolio theory. Our theory identifies the drivers of circular resource use and shows under which conditions individual resource use contributes to the circular use of resources.

Place, publisher, year, edition, pages
Elsevier, 2021. Vol. 190, article id 107190
Keywords [en]
Circular economy, Eco-efficiency, Portfolio theory
National Category
Economics and Business
Research subject
sustainability
Identifiers
URN: urn:nbn:se:umu:diva-186864DOI: 10.1016/j.ecolecon.2021.107190ISI: 000696730300024Scopus ID: 2-s2.0-85112810765OAI: oai:DiVA.org:umu-186864DiVA, id: diva2:1587500
Available from: 2021-08-24 Created: 2021-08-24 Last updated: 2023-09-05Bibliographically approved
In thesis
1. Understanding and managing coopetition for sustainability: process and outcomes
Open this publication in new window or tab >>Understanding and managing coopetition for sustainability: process and outcomes
2021 (English)Doctoral thesis, comprehensive summary (Other academic)
Alternative title[sv]
Att förstå och hantera coopetition för hållbarhet : process och utfall
Abstract [en]

Scholars highlight the potential gains of collaboration between competitors for supporting sustainability but there is a lack of both theoretical and empirical studies. In this thesis I aim to enhance the understanding of 'coopetition forsustainability', which I define as 'an inter-firm phenomenon where actors fromthe same industry simultaneously cooperate and compete with the intent to achieve environmental, economic, and social benefits'. By investigating the process and outcomes of coopetition for sustainability I develop several analytical tools for the systematic exploration of the coopetitive interaction for reaching sustainability goals and show that coopetition for sustainability raises numerous knotted paradoxical tensions. I further reveal organizing and regulating mechanisms that actors use to address these tensions, and which can motivate greater extents of sustainability in terms of outcomes.

This thesis consists of six appended papers (two conceptual, two qualitative, and two quantitative) that explore coopetition for sustainability in three contextual settings (Swedish, Polish, and Belarusian housing). Collectively, the papers span several theoretical frameworks (paradox theory, sustainable value, modern portfolio theory) and methodological approaches (systemdynamics, in-depth case study, survey questionnaires). Overall, my explorations in this thesis show that whilst coopetition for sustainability is a complex, tensionfilled phenomenon, it has great potential to advance sustainability in both theory and practice. I contribute to theory by generating novel insights into: (i) The process of coopetition for sustainability showing how actors organize collaboration for sustainability and how they respond to paradoxical tensions they frequently experience; (ii) The outcomes of coopetition for sustainability, which I systematically conceptualize and model. I also offer several implications for practice that can help managers to navigate the process of coopetition for sustainability in order to enhance economic, social and environmental outcomes.

Abstract [sv]

Forskare lyfter fram de potentiella vinsterna med samarbete mellan konkurrenter för att främja hållbarhet, men det saknas både teoretiska och empiriska studier. Syftet med denna avhandling är att öka förståelsen för"coopetition för hållbarhet", som jag definierar som "ett fenomen mellan företag där aktörer från samma bransch samtidigt samarbetar och konkurrerar med avsikt att uppnå ekologiska, ekonomiska och sociala fördelar". Genom att undersöka processen och utfallet av coopetition för hållbarhet utvecklar jag flera analytiska verktyg för att systematiskt utforska den coopetitiva interaktionen i syfte att nå hållbarhetsmål och visar att coopetition för hållbarhet ger upphov till många sammanvävda paradoxala spänningar. Vidare visar jag hur ett anta lorganiserings- och regleringsmekanismer används för att ta itu med dessa spänningar, mekanismer som kan medföra bättre hållbarhetsutfall.

Denna avhandling består av sex, bifogade, artiklar (två konceptuella, två kvalitativa och två kvantitativa) som utforskar coopetition för hållbarhet i tre kontextuella miljöer (den svenska-, polska- och belarusiska bostadsbranschen). Sammantaget spänner artiklarna över flera teoretiska ramverk (paradoxteori, hållbar värde-teori, modern portföljteori) och olika metodologiska tillvägagångssätt (systemdynamik, fördjupad fallstudie, enkätstudie).Avhandlingens undersökningar visar att även om coopetition för hållbarhet är ett komplext och spänningsfyllt fenomen har det samtidigt stor potential för att främja hållbarhet i både teori och praktik. Jag bidrar till teori genom att generera nya insikter om: (i) 'coopetition för hållbarhets'-processen, vilket visar hur aktörer organiserar samarbete för hållbarhet och hur de reagerar på de paradoxala spänningar som de ofta upplever; (ii) utfallen av coopetition för hållbarhet, som jag systematiskt konceptualiserar och modellerar. Jag förslår även implikationer för praxis, för att hjälpa ledare att navigera i processen för coopetition för hållbarhet och för att förbättra dess ekonomiska, sociala och ekologiska utfall.

Place, publisher, year, edition, pages
Umeå: Umeå University, 2021. p. 88
Series
Studier i företagsekonomi. Serie B, ISSN 0346-8291 ; 107
Keywords
Coopetition, sustainability, paradox, housing, coopetition for sustainability, process, outcome
National Category
Business Administration
Research subject
Business Studies
Identifiers
urn:nbn:se:umu:diva-189472 (URN)978-91-7855-681-6 (ISBN)978-91-7855-680-9 (ISBN)
Public defence
2021-12-10, UB.A.210, Lindellhallen 1 (S Hörsal A), Umeå University 901 87, Umeå, 11:00 (English)
Opponent
Supervisors
Note

Ny tid för disputation; kl 11:00 istället för 13:00 / New time for the public defence; 11:00 instead of 13:00 

Available from: 2021-11-19 Created: 2021-11-11 Last updated: 2021-12-03Bibliographically approved

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Figge, FrankManzhynski, Siarhei

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