This paper joins the emerging literature that elevates geography and local social context to more prominent roles in explaining organizational phenomena. We explore personal values that are widely held in communities and their influence on local hybrid companies. In particular, we test whether or not differences in support for other-regarding values (social welfare vs. environmental quality) turn out to elicit different types of local hybrid companies. Employing a new database of 33,699 company-years of hybrids, we find evidence of locally-relevant distinctions in the drivers of hybrid companies that self-identify with social welfare rather than environmental quality goals.
