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Social times of network spaces: Network sequences and foreign investment (2005)
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| Venue: | in Hungary (No. 2005-06-023). Santa Fe, NM: Santa Fe Institute |
| Citations: | 19 - 2 self |
BibTeX
@INPROCEEDINGS{Stark05socialtimes,
author = {David Stark and Balázs Vedres},
title = {Social times of network spaces: Network sequences and foreign investment},
booktitle = {in Hungary (No. 2005-06-023). Santa Fe, NM: Santa Fe Institute},
year = {2005}
}
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Abstract
To model, from its inception, interenterprise network formation and its interaction with foreign investment across an entire epoch of rapid and profound economic transformation, the authors gathered data on the complete ownership histories of 1,696 of the largest Hungarian enterprises from 1987 to 2001. They develop a social sequence analysis to identify distinctive pathways whereby firms use network resources to buffer uncertainty, hide or restructure assets, or gain knowledge and legitimacy. During this period, networked property grew, stabilized, and involved a growing proportion of foreign capital. Cohesive networks of recombinant property were robust, and in fact integrated foreign investment. Although multinationals, through their subsidiaries, dissolved ties in joint venture arrangements, the authors find evidence that they also built durable networks. These findings suggest that developing economies do not necessarily face a forced choice between networks of global reach and those of local embeddedness. Social structures often are made to seem the antipodes to, or at least unrelated to details and nuances of, sequencing in timing. This is in part because of the influence of structuralism. Social times should instead be accounted as much part of structure as are network spaces.—Harrison White (1992) Business organizations today must cope with the challenges of a transforming global economy. Markets are volatile, technological change is rapid, and capital is mobile on an increasingly global scale. In settings of
Keyphrases
foreign investment social time network space network sequence distinctive pathway global reach recombinant property social structure hungarian enterprise social sequence analysis global scale restructure asset entire epoch forced choice network resource harrison white durable network local embeddedness business organization today interenterprise network formation networked property foreign capital cohesive network much part global economy joint venture arrangement profound economic transformation technological change complete ownership history
