Explaining the location of mission-driven businesses: an examination of B-corps

We investigate the factors that contribute to B-Corp certification rates across states. Firms seeking this certification demonstrate their commitment to mission-driven goals in addition to traditional economic objectives. By examining what factors are related to higher certification, we gain insight into the environments, both economic and cultural, that foster a broader definition of business success. Our empirical findings suggest that regions with higher educational attainment, which are politically progressive, have healthier populations, rank high in greenness, and are diverse, tend to have higher B-Corp adoptions. Surprisingly, higher per capital income is, on average, associated with lower rates of commitment. Reprinted by permission of Greenleaf Publishing