Selling the family silver? Institutional entrepreneurship and asset disposal in the English housing association sector
Selling the family silver? Institutional entrepreneurship and asset disposal in the English housing association sector
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发表时间：
2017
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通讯作者：
N. Morrison
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作者：
N. Morrison
本文的目的是通过分析处置或保留有价值的房地产资产的战略决策来揭示英国住房协会的资产管理策略。根据制度逻辑的概念和组织原型的使用，本文确定了伦敦住房协会为应对当代挑战而采取的对比策略。第一类被归类为“捍卫者”组织，代表那些通常选择保留自己的股票，为未来的房屋建设融资，原则上不会支持房地产出售的组织。第二种是被描述为“分析师”的组织，他们主要基于经济理由，为处置财产提供务实的理由，认为财产不再适合使用，收益用于补充库存。最后一类代表那些被描述为“勘探者”的人，他们愿意处置自己的高价值资产以产生更强的收入流，并将自己重新定位为住房部门的机构企业家。论文认为，这些“探矿者”住房协会所采取的战略决策已经形成了一个议程，建立在机构企业家精神的基础上，其他组织被迫对此做出回应。从更广泛的角度来看，出售有价值资产的累积效应不仅会破坏核心社会原则，还可能加剧整个伦敦地区的社会空间隔离。
The purpose of this paper is to shed light on English housing associations’ asset management strategies through an analysis of strategic decisions to either dispose of or retain valuable property assets. Drawing on the concept of institutional logics and the use of organisational archetypes, the paper identifies contrasting strategies that London-based housing associations have adopted in response to contemporary challenges. The first, classified as ‘defender’ organisations, represent those who choose to generally retain their stock to leverage finance for future house building and who, in principle, would not countenance property sales. Second, are organisations described as ‘analysers’ who offer pragmatic justifications for the disposal of properties, primarily on economic grounds, arguing that properties are no longer fit for purpose, with proceeds used for replacement stock. The last category represents those depicted as ‘prospectors’ who willingly dispose of their high-valued assets to generate stronger income streams and reposition themselves as institutional entrepreneurs within the housing sector. The paper argues that the strategic decisions taken by these ‘prospector’ housing associations have shaped an agenda, founded on institutional entrepreneurship, to which other organisations are forced to respond. In wider terms, the cumulative effects of selling valuable assets carry the risk of not only undermining core social principles but also potentially exacerbating socio-spatial segregation across the London area.