A1 Journal article (refereed)
Peer interaction and pioneering organizational form adoption : A tale of the first two for-profit stock exchanges (2022)

Cheung, Z., Gustafsson, R., & Nykvist, R. (2022). Peer interaction and pioneering organizational form adoption : A tale of the first two for-profit stock exchanges. Organization Studies, 43(8), 1223-1246. https://doi.org/10.1177/01708406211024570

JYU authors or editors

Publication details

All authors or editors: Cheung, Zeerim; Gustafsson, Robin; Nykvist, Rasmus

Journal or series: Organization Studies

ISSN: 0170-8406

eISSN: 1741-3044

Publication year: 2022

Publication date: 01/06/2021

Volume: 43

Issue number: 8

Pages range: 1223-1246

Publisher: SAGE Publications

Publication country: Germany

Publication language: English

DOI: https://doi.org/10.1177/01708406211024570

Publication open access: Openly available

Publication channel open access: Partially open access channel

Publication is parallel published (JYX): https://jyx.jyu.fi/handle/123456789/76519

Abstract

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.

Keywords: stock exchanges; organisational changes; organisational research; organisational theories; institutionalism; innovation systems; comparative research; longitudinal research

Free keywords: organizational form; theoretical perspectives; institutional theory; comparative capitalism; comparative institutional analysis; national innovation systems; research design and data collection; historical; longitudinal qualitative

Contributing organizations

Ministry reporting: Yes

Reporting Year: 2022

JUFO rating: 3