Social influence and corporate behaviour - A case study of interdependent decision-making in Sweden's publicly traded firms
Social influence and corporate behaviour - A case study of interdependent decision-making in Sweden's publicly traded firms
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DOI：
10.1093/esr/17.4.389
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发表时间：
2001-12-01
影响因子：
3.2
通讯作者：
Sandell, R
中科院分区：
文献类型：
--
作者：
Edling, C;Sandell, R
在1997年的几个月里，由于一项新的税收政策，斯德哥尔摩证券交易所大约20%的一级上市公司转移到了该交易所的二级上市公司。基于社会影响理论，我们认为转移决策既取决于企业在风险人群中与其他企业的社会嵌入性，也取决于他们进行这种转移的经济倾向。我们利用事件历史技术将这种转移决策建模为一个连续的随机过程。该分析是基于对网络和事件历史分析都特别有利的数据进行的：它们在一个完整的观察窗口中包括了所有处于风险中的公司。我们的结果表明，转移的决定是企业的经济倾向和他们在董事会联锁方面的社会嵌入性的函数。我们数据的特殊特征与我们的发现相结合，表明我们的结果应该有更广泛的应用：当试图解释属于同一系统的一组公司在公司层面做出战略决策的理由时，忽略微观层面的社会相互依存关系，可能会错过战略决策背后的一些最重要的驱动力。
In the course of a few months in 1997, about 20 per cent of Stockholm Stock Exchange's primary-list firms transferred to the Exchange's secondary list due to a new tax policy. Drawing on a theory of social influence, we suggest that the transfer decisions depended both on the firms' social embeddedness with other firms in the population at risk and their economic predisposition to make such transfers. We model such transfer decisions as a continuous stochastic process by utilizing event-history techniques. The analysis is performed on data that are exceptionally good for both network and event-history analysis: they include the whole population of firms at risk in a complete observation window. Our results indicate that the decision to transfer was a function of the firms' economic predisposition and their social embeddedness in terms of board interlocks. The special features of our data in combination with our findings suggest that our results should have a broader application: Ignoring social interdependencies at the micro level when attempting to explain the rationale for strategic decisions at the firm level in a group of firms belonging to the same system is likely to miss some of the most important driving forces behind strategic decision making.