Abstract
We applied Giddens' (1979, 1984) structuration theory to investigate the US investment banking industry and found support for the notion that industry network structure impacts the strategic actions of the firms embedded in it, and that the status hierarchy component of the industry structure is reproduced by the dyad-level interactions of firms in this industry. Investment banks conform to the homophily phenomenon — they tend to transact with others in the industry of similar status. Status ranking also enables high-status banks to maintain an extensive exchange relationship with other banks, while status ranking constrains low-status banks to transact repeatedly with banks with which they have previously transacted.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
