Economic, social and institutional conditions of network governance

Woojin Yoon (Institute of Management Research, Seoul National University, Seoul, South Korea)
Eunjung Hyun (Department of Organizations and Markets, Booth School of Business, University of Chicago, Chicago, Illinois, USA)

Management Decision

ISSN: 0025-1747

Publication date: 7 September 2010

Abstract

Purpose

This paper intends to discuss the effect of social and institutional mechanisms in allowing network governance embedded in non‐contractual and social relations to emerge and persist.

Design/methodology/approach

Building on the extant theoretical literature on network governance of varied research strands and drawing empirical observations from research on East Asian network governance, the paper explores the effect of social and institutional mechanisms in allowing network governance embedded in non‐contractual and social relations to emerge and persist.

Findings

It is argued that social and non‐contractual mechanisms reinforce, substitute, or undermine contractual mechanisms, but the degree to which this occurs is contingent on institutional environments in which transaction occurs.

Originality/value

The paper revisits some of the important theoretical concepts such as trust and social capital that have been invoked across divergent literatures so as to illuminate underlying factors of economic governance based on social relations and networks.

Keywords

Citation

Yoon, W. and Hyun, E. (2010), "Economic, social and institutional conditions of network governance", Management Decision, Vol. 48 No. 8, pp. 1212-1229. https://doi.org/10.1108/00251741011076753

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Publisher

:

Emerald Group Publishing Limited

Copyright © 2010, Emerald Group Publishing Limited

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