Abstract

Hybrid organizations that pursue both financial and social goals have gained significant attention within the field of corporate social responsibility (CSR). Furthermore, an ongoing concern within hybrid organization research centers on the tensions between multiple goals. We establish a behavioral theory of hybrid organizations based on both the behavioral theory of the firm (BTOF) and imprinting theory to interpret the patterns of simultaneous or sequential pursuit of conflicting goals. Drawing evidence from China's mixed-ownership enterprises (MOEs), we examine the impact of institutional imprinting on managerial attention priority. Our findings show that originally state-owned MOEs simultaneously pursue financial and social goals, while originally privately-owned MOEs sequentially pursue dual goals. Moreover, the persistence and decay of this institutional imprint are affected by internal and external sources of coalition power. By examining how financial performance feedback impacts tensions of dual goals, we contribute to the literature dialogue between hybrid organizations and BTOF.