Premium
Integrating Social and Political Strategies as Forms of Reciprocal Exchange into the Analysis of Corporate Governance Modes
Author(s) -
Boddewyn Jean J.,
Buckley Peter J.
Publication year - 2017
Publication title -
british journal of management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.407
H-Index - 108
eISSN - 1467-8551
pISSN - 1045-3172
DOI - 10.1111/1467-8551.12243
Subject(s) - transaction cost , reciprocity (cultural anthropology) , asset specificity , reciprocal , corporate governance , politics , norm of reciprocity , economics , microeconomics , social exchange theory , matching (statistics) , database transaction , order (exchange) , positive economics , law and economics , industrial organization , business , sociology , social capital , political science , computer science , management , law , social science , finance , linguistics , philosophy , statistics , programming language , mathematics
The concept and theory of reciprocity provide fruitful ways of integrating social and political strategies because both involve donating valuable resources to non‐market recipients – mainly non‐governmental organizations, politicians and regulators – who are not contractually bound to reciprocate although a return is normally expected. Besides, we interpret the use of non‐contractual reciprocity through relational‐models theory and transaction‐cost economics. The former offers a model of ‘equality‐matching’ that corresponds to reciprocity while transaction‐cost economics’ criteria of uncertainty, frequency and asset specificity can be applied to non‐contractual relationships in order to determine their efficiency. We also differentiate reciprocity from bribery and offer research implications of the fact that goods can be obtained from others without using transactions.