Peer Interaction and Pioneering Organizational Form Adoption: A Tale of the Two First For-Profit Stock Exchanges

PublikationArtikel (med peer review)
Comparative capitalism, comparative institutional analysis, Financial markets, Historical, Institutional theory, Longitudinal qualitative, national innovation systems, Organizational change, Organizational form, Rasmus Nykvist

Sammanfattning

Building on a historical case study on the first two stock exchanges to adopt the now globally dominant for-profit organizational form, the Stockholm Stock Exchange in 1993 and the Helsinki Stock Exchange in 1995, we argue that interaction among socially proximate peers contributes to pioneering organizational form adoption within an industry, particularly when such forms are introduced by established organizations. Peer interaction can induce a search for technically efficient organizational forms through the sharing of collective experiences, the establishment of collective assumptions, and a joint search for solutions. Together, these factors contribute to the legitimization of novel organizational forms in the local setting before the adoption of the first instantiation of those forms. We propose a context-sensitive multilevel model of peer-interaction-induced pioneering organizational form adoption that considers shared macro environmental drivers, idiosyncratic local environmental drivers, and peer interaction as central social mediators between the two.

Cheung, Z., Gustafsson, R. & Nykvist, R. (in press). Peer Interaction and Pioneering Organizational Form Adoption: A Tale of the Two First For-Profit Stock Exchanges. Organization Studies.


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Introducing the inverted Icarus paradox in business history – Evidence from David and Goliath in the Swedish telecommunications industry 1981–1990
Artikel (med peer review)Publikation
Eriksson, K., Lakomaa, E., Nykvist, R., & Sandström, C.
Publiceringsår

2024

Publicerat i

Business History.

Sammanfattning

Previous research in business and management history has identified the Icarus paradox, which describes how organisations may fall due to overconfidence and hubris. We build upon previous research on paradoxes in business history and introduce the notion of an inverted Icarus paradox. Using rich archival sources coded in a relational database, we show how an entrant firm, Comvik, outmanoeuvred an established government monopoly in the non-market domain from 1980 to 1990, despite inferior resources and a weak market position. The government monopoly Televerket faced an inverted Icarus paradox; it could not leverage its strengths and political connections as they were stuck in a David versus Goliath narrative where public opinion was more sympathetic to the entrant firm Comvik.

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