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Behind the simple connotation “business exchange” a complex empirical phenomenon can be observed, including using, producing and developing activities, taking place in different contexts, influenced by ideas stemming from both practice and mainstream economic thinking. The purpose of this paper is to discuss the methodological challenges of research on business exchange in general and of IMP research in particular. Furthermore, to discuss how the authors can avoid the contemporary “methodomania” trend, where the researchers’ focus is directed toward accounting for which rules were followed.

The paper is based on a methodological distinction made by Peter Galison (1997) in his investigation of the interdependence among research approach, methodology, and research object in microphysics. Studies based on: “image,” allows data in its original form, and “logic,” requires the translation of original data and therefore relies “fundamentally on statistical demonstrations.” This distinction is utilized to investigate what is specific with business exchange as a research object, and how IMP researchers have dealt with the methodological challenges it presents. Furthermore, the paper considers these different methodological approaches in relation to theory and understanding of the research object.

The main conclusion is the huge importance the image-based methodology has had for the development of the IMP network approach. From the very start the IMP project has been focused on the production of a large set of, in Galison’s terminology, “hard facts” about the existence, substance and importance of interaction and the relationships it is creating. This image-based methodology has been utilized in the development of a set of imaging instruments, each with an ability to picture the content and consequences of business exchange.

Two methodological challenges which are specific for business research are identified. One is that “images” in terms of personal accounts on the organizing of production and use of economic resources are marbled with ideas, stemming from a mix of theories, textbooks and practice on how to do this. The second is that established theories create a “logic” in terms of the combination of “assumptions” and established “accounting principles” that produce a number of outputs interpreted as primary data and objective accounts of the characteristics of the production and use of economic resources.

IMP’s image-based methodology and the development of specific imaging instruments can increase the exactness in the pictures of the content and consequences of business interaction, and also, catch the range of its substance. Considering this circumstance could be a way to avoid “methodomania” and to breed awareness of the relationship among research object, methodology, and research approach.

IMP’s image-based methodology can increase the awareness that the logic-based model of business exchange has been ascribed an advisory role in terms of how companies should act in order to survive and prosper: as sellers and buyers in relation to each other, and also in relation to others.

First, the paper underlines that image-based methodologies can be used to produce “hard facts” about the existence, substance, and importance of business interaction. Second, the paper shows how the methodology of mainstream economics tends to be “the elephant in the room,” both in approaches resting on “image” and “logic.” It addresses the importance of making the elephant visible and investigates what is happening in its shadow.

This paper illuminates the distinction between individual and organizational actors in business-to-business markets as well as the coexistence of formal and informal mechanisms of coordination in multinational corporations. The main questions addressed include the following. (1) What factors influence the occurrence of personal contacts of foreign subsidiary managers in industrial multinational corporations? (2) How such personal contacts enable coordination in industrial markets and within multinational firms? The theoretical context of the paper is based on: (1) the interaction approach to industrial markets, (2) the network approach to industrial markets, and (3) the process approach to multinational management. The unit of analysis is the foreign subsidiary manager as the focal actor of a contact network. The paper is empirically focused on Portuguese sales subsidiaries of Finnish multinational corporations, which are managed by either a parent country national (Finnish), a host country national (Portuguese) or a third country national. The paper suggests eight scenarios of individual dependence and uncertainty, which are determined by individual, organizational, and/or market factors. Such scenarios are, in turn, thought to require personal contacts with specific functions. The paper suggests eight interpersonal roles of foreign subsidiary managers, by which the functions of their personal contacts enable inter-firm coordination in industrial markets. In addition, the paper suggests eight propositions on how the functions of their personal contacts enable centralization, formalization, socialization and horizontal communication in multinational corporations.

The purpose of this article is to explore possible contributions to the development of models to define business networks conceptually, and identify and delineate them empirically by integrating concepts and ideas from “market exchange theory” originating in the works of Alderson.

Following a conceptual discussion defining business networks as a type of exchange system, empirical data were used to exemplify and illustrate the theoretical development ideas. From data on 22 business firms collected in 1999‐2001 in the form of transcribed interviews and other print documentation, a business network as a type of exchange system was identified comprising five business entities. This case serves as illustration to the remainder of the theoretical discussions throughout the paper.

Based on a conceptualisation of business networks as a type of exchange system and a notion of interaction encompassing exchange processes stemming from both market exchange theory and social exchange theory, it is suggested that business networks can be more consistently identified and delineated empirically using this theoretical base.

The empirical case is merely illustrative, and more extensive empirical work is needed to further test the ideas of business networks as a type of exchange system. The implications to the study of markets‐as‐networks are that these ideas can be used as a basis for identification, delineation and analysis of business networks.

This paper extends Alderson's work by suggesting a fourth type of transformation: transformation in ownership, as well as by developing a typology with five resource types in the exchange system. Furthermore, it provides a conceptual tool that can be used by researchers to identify, delineate and analyse business networks and incorporates market exchange theory.

This study aims to focus on how informal value transfer networks, Hawala business in particular, used social exchanges in their business dealings. More specifically, the conducted research looked into how social exchange theory was used in Hawala business relationship initiation and management.

Twenty-one depth interviews were conducted with Hawala Network members, and Hawala customers, in Qatar, Saudi Arabia and Pakistan. The collected qualitative data were analyzed through content analysis and NVivo 11 software.

The study outcome indicated that Social Exchange Theory was a principal relationship driver in Hawala Networks. Especially, trust had a pivotal role in evolvement and nurturing of Hawala Network business and social exchanges. Other relationship variables, namely, reciprocity, religious affiliation, reputation and information sharing had a significant part in relationship building as well. Results supported a prominent influence of time in carefully controlled and rigorously assessed transformation of Hawala relationships. This metamorphosis converted an exchange from short-term into a long-term orientation where limited amount transactions changed into large sum transactions and restricted information exchange moved to elaborate information sharing. In addition, findings revealed that monetary and non-monetary interactions between Hawala Network members took the form of a homogeneous club, with shared social, cultural, religious and ethnic values. In particular, financially constrained and illiterate social groups preferred Hawala services due to ease of servicing in the form of minimal bureaucracy, fast transfers and low service charges. These marginalized fractions of society had limited access to formal banking which made Hawala business their main (and in most cases only) source for sending and receiving financial remittances. Hawala Networks provided an effective alternative to formal banking for disadvantaged communities.

This study provided unique and useful insights into the nature of social exchanges within Hawala Networks. Especially, it provided clarification on how informal networked businesses used Social Exchange Theory to by-pass the need for legal protection and formal contracts. Furthermore, the study highlighted the role Hawala business played in providing essential banking services (e.g. transfer of money and micro-lending) to educationally and economically deprived individuals.

This paper aims to explore corrupt exchange as a type of socioeconomic interaction in private–public relationships and its effects on material flow in connected private-private relationships.

The paper is based on a case study of a private–public network of an import firm in Russia. It focusses on corrupt exchange in routine interactions between the firm’s managers and officials in three regulatory authorities.

The study reveals how different types of corrupt exchange between firm managers, officials and intermediaries serve as a problem-solving tool that facilitates material flow through bureaucratic gates.

The paper contributes to the industrial marketing and purchasing research by showing how the social capital concept is useful for explicating mechanisms of socioeconomic interaction in business networks and how the interaction context conditions actors’ roles and interdependencies.

The paper raises practitioners’ awareness of corrupt exchange in business networks and enables them to anticipate and manage upcoming challenges in bureaucratic procedures.

The study shows how networks’ non-transparent and manipulative tendencies may provide favourable conditions for corruption in the business landscape.

The study provides a unique empirical insight into the socioeconomic mechanisms of corrupt exchange in business networks. It contributes theoretically by conceptualising corrupt officials as taking on the role of quasi-business actors in the personal possession of administrative authority as a resource and by using a novel conceptualisation of social capital to study private–public interaction in business networks.

Relationships are a critical success factor for business operations across markets with dominant Chinese culture, like Taiwan. The intersection of a high-quality institutional environment and a traditional Chinese cultural background in Taiwan provides a unique setting for exploring different types of relational mechanisms and ensuing renqing practices (i.e. reciprocal exchange of favors with empathy). The purpose of this paper is to examine when, where and how Taiwanese high-performance organizations manage and deploy interorganizational renqing across their business relationship portfolios. Answering these questions can help build a theory of interorganizational renqing and advance interorganizational reciprocity theorization more generally.

This research is motivated by two key research questions. First is related to how renqing givers understand renqing in the context of their organizations and their interorganizational business relationship portfolios. Second, whether organizations prefer a neutral renqing balance, a renqing debt or a renqing surplus is another point of interest. The study is based on interviews with upper echelon elite informants at six high-performing Taiwanese organizations with business relationship portfolios worldwide.

It is found that interorganizational renqing is deployed as a hybrid resource, taking on the functions of both an investment and a type of insurance against risk. Two notable differences between interorganizational and interpersonal renqing are also noted. First, the social exchange norm aspect of renqing points to salient social exchange norms also in interorganizational exchanges. This confirms the importance of understanding not only the regulative and normative dimensions of business relationships, as a type of institution, but also the cognitive dimensions and underlying institutional logics. Second, this study shows that unlike at the interpersonal level, the notion of renqing debt is not common at the interorganizational level – at least not within high-performance organizations with market leader positions.

This study explores interorganizational renqing practices and their strategic deployment through the use of “accessing” and “embedding” relational mechanisms. The study also adds to the poorly understood nature of interorganizational reciprocity and provides support for developing a theory of interorganizational renqing, as a form of interorganizational reciprocity within a Chinese cultural context.

Relationships are socially constructed by companies in interaction. This study explains the dynamic character of business-to-business relationships with the aid of rules theory, a theory borrowed from the communications field. Two forms of rules are identified: constitutive rules guide the interpretation of the other's acts, and regulative rules guide the appropriate response to the interpreted act. Rules theory asserts that companies act as if applying these rules. Relationships provide not only the context in which the parties’ acts are performed but are also the result of such acts. Thus, relationships are potentially reshaped each time one party performs an act and the other party gives meaning to that act and reacts.

Suggests that a number of assumptions in the past have been made about how business process improvement, re‐engineering and organizational learning should take place in organizations. Points out that, although a number of these assumptions have been framed on theoretical models, few have been based on the empirical analysis of the nature of actual business processes. Tries to fill this gap with an analysis of data, information and knowledge exchanges in 22 business processes from three organizations. Points to a number of characteristics that appear to be contradictory to some current organizational practices, and that can be helpful to inform future developments in the fields of business process improvement, re‐engineering and organizational learning. Two relevant characteristics are a much higher proportion of data over material exchanges in business processes, and a higher proportion of knowledge exchanges in improvement over core and support processes.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.