Corporate governance, business strategy, and the dynamics of networks: A theoretical model and application to the British cotton industry 1830-1980

Organization Studies

Volumn 25, Issue 4, 2004, Pages 629-651

  Toms, Steve ^a   Filatotchev, Igor ^b  

^a UNIVERSITY OF YORK   (United Kingdom)

^b KING'S COLLEGE LONDON   (United Kingdom)

Author keywords

Governance; Lancashire cotton textiles; Networks; Strategy

Indexed keywords

EID: 2542625230     PISSN: 01708406     EISSN: None     Source Type: Journal    
DOI: 10.1177/0170840604040678     Document Type: Review

References (92)

1. Ahmadjian, Christina L., and James R. Lincoln 2001 'Keiietsu, governance and learning: Case studies in change from the Japanese automotive industry', Organization Science 12/6: 683-701.
2. Bachmann, Reinhard 2001 'Trust, power and control in trans-organizational relations'. Organization Studies 22/2: 337-365.
3. Bamberg, James 1984- 'Sir Frank Platt' in Dictionary of 86 business biography. D. Jeremy (ed.), Vol. 4, 716-722. London: Butterworths.
4. Bamberg, James 1988 'The rationalization of the British cotton industry in the inter-war years'. Textile History 19/1: 83-102.
5. Barney, Jay B. 1997 Gaining and sustaining competitive advantage. New York: Addison Wesley.
6. Bartlett, Christopher A., and Sumantra Ghoshal 1999 Transnational management: Text, cases, and readings in cross- border management. London: McGraw Hill.
7. Beckman, Christine M., and Pamela R. Haunschild 2002 'Network learning: The effects of partners' heterogeneity of experience on corporate acquisitions'. Administrative Science Quarterly 47/1: 92-124.
8. Bennet, G. 1933 'The present position of the cotton industry in Britain'. MA thesis, University of Manchester.
9. Berle, Adolphe, and Gardiner C. Means 1932 The modern corporation and private property. New York: Commercial Clearing House.
10. Bethel, Jennifer, and Julia Liebeskind 1993 'The effects of ownership structure on corporate restructuring'. Strategic Management Journal, special issue, 14: 15-31.
11. Birtwistle Group n.d. The William Birtwistle group of mills, centenary, 1851-1951. Privately published, available in Manchester Central Library.
12. Burt, Ronald 1992 'The social structure of competition' in Networks and organizations: Structure, forms and actions. N. Nitin and R. Eccles (eds), 57-91. Boston, MA: Harvard Business School Press.
13. Casson, Mark 1997 'Institutional economics and business history: A way forward'. Business History 39/4: 149-171.
14. Casson, Mark 2003 'An economic approach to regional business networks' in Industrial clusters and regional business networks: Theory and fact in three British regions. A. Popp and J. Wilson (eds). Brookfield, VT: Ashgate.
15. Castanias, Richard, and Constance Helfat 1991 'Managerial rents'. Journal of Management 17/1: 155-171.
16. Chapman, Stanley 1979 'Financial restraints on the growth of firms in the cotton industry, 1790-1850'. Economic History Review 32/1: 50-69.
17. Chapman, Stanley 1996 'The commercial sector' in The Lancashire cotton industry, M. B. Rose (ed.), 63-93. Preston: Lancashire County Books.
18. Cooper, David, and Michael Sherer 1984 'The value of accounting reports: Arguments for a political economy of accounting'. Accounting Organizations and Society 9/3: 207-232.
19. Davis, Gerald, Kristina Diekmann, and Catherine Tinsley 1994 'The decline and fall of the conglomerate firm in the 1980s: The deinstitutionalization of an organizational form'. American Sociological Review 59/4: 547-570.
20. DiMaggio, Paul, and Walter Powell 1991 'The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields' in The new institutionalism in organizational analysis. W. Powell and P. DiMaggio (eds), 63-82. Chicago, IL: University of Chicago Press.
21. Farnie, Douglas 1979 The English cotton industry and the world market. Oxford: Clarendon.
22. Farnie, Douglas, and Tetsuro Nakaoka 2000 'Region and nation' in Region and strategy in Britain and Japan: Business in Lancashire and Kansai, 1890-1990. D. Farnie, N. Tetsuro, D. Jeremy, J. Wilson and T. Abe (eds), 9-77. London: Routledge.
23. Filatotchev, Igor, and J. Steve Toms 2003 'Corporate governance, strategy and survival in a declining industry: A study of UK cotton textile companies'. Journal of Management Studies 40/4: 895-920.
24. Fligstein, Neil 1990 The transformation of corporate control. Cambridge, MA: Harvard University Press.
25. Freeman, R. Edward 1984 Strategic management: A stakeholder approach. Boston, MA: Pitman.
26. Frooman, Jeff 1999 'Stakeholder influence strategies'. Academy of Management Review 24/2: 191-205.
27. Fruin, W. Mark 1998 Networks, markets and the Pacific rim: Studies in strategy. Oxford: Oxford University Press.
28. Grandori, Anna, and Guiseppe Soda 1995 'Inter-firm networks: Antecedents, mechanisms and forms'. Organization Studies 16/2: 183-214.
29. Granovetter, Mark 1985 'Economic action and social structure: The problem of embeddedness'. American Journal of Sociology 91/3: 481-501.
30. Grossman, Stanford, and Joseph Stiglitz 1980 'On the impossibility of efficient capital markets'. American Economic Review 70/3: 393-408.
31. Gulati, Ranjay, Nitin Nohria, and Zaheer Akbar 2000 'Strategic networks'. Strategic Management Journal, special issue, 21: 203-215.
32. Hamilton, Gary, and Robert Feenstra 1995 'Varieties of hierarchies and markets: An introduction'. Industrial and Corporate Change 4/1: 51-91.
33. Higgins David, and J. Steven Toms 1997 'Firm structure and financial performance: The Lancashire textile industry, c. 1884-1960'. Accounting Business and Financial History 7/2: 195-232.
34. Higgins David, and J. Steven Toms 2000 'Public subsidy and private divestment: The Lancashire cotton textile industry'. Business History 42/1: 59-84.
35. Higgins David, and J. Steven Toms 2003 'Financial distress, corporate borrowing and industrial decline: The Lancashire cotton textile industry, 1918-1938'. Accounting Business and Financial History 13/2: 207-232.
36. Hopwood, Anthony 1987 'The archaeology of accounting systems'. Accounting Organizations and Society 12/3: 207-234.
37. Hoskisson, Robert E., Richard A. Johnson, and Douglas D. Moesel 1994 'Corporate divestiture intensity in restructuring firms: Effects of governance, strategy and performance'. Academy of Management Journal 37/5: 1207-1251.
38. Jeremy, David 1993 'Survival strategies in Lancashire textiles: Bleachers Association to Whitecroft plc, 1900-1980s'. Textile History 24/2: 163-209.
39. Jewkes, John, and Edward Gray 1935 Wages and labour in the Lancashire cotton spinning industry. Manchester: Manchester University Press.
40. Jones, Candace, William Hesterly, and Stephen Borgatti 1997 'A general theory of network governance: Exchange conditions and social mechanisms'. Academy of Management Review 22/4: 911-945.
41. Jones, S. 1978 'The Manchester cotton magnates' move into banking, 1826-1850'. Textile History 9/1: 105-120.
42. Kamien, Morton, Eitan Mueller, and Israel Zang 1992 'Research joint ventures and R&D cartels'. American Economic Review 82/5: 1293-1306.
43. Katz, Daniel, and Robert Kahn 1966 The social psychology of organizations. New York: Wiley.
44. Kenney, S. 1982 'Sub-regional specialization in the Lancashire cotton industry, 1884-1914: A study in organizational and locational change'. Journal of Historical Geography 8/1: 41-63.
45. Keynes, John Maynard 1981 'The return to gold and industrial policy II' in Collected works, Vol. 19. London: Macmillan.
46. Kraatz, Matthew S., and Edward J. Zajac 2001 'How organizational resources affect strategic change and performance in turbulent environments: Theory and evidence'. Organization Science 12/5: 632-657.
47. Kroszner, Randall S., and Philip E. Strahan 2001 'Bankers on boards: Monitoring, conflict of interest, and lender liability'. Journal of Financial Economics 62/3: 415-52.
48. Langlois, Richard, and Paul Robertson 1995 Firms, markets and economic change: A dynamic theory of business institutions. London: Routledge.
49. Lazonick, William 1983 'Industrial organization and technological change: The decline of the British cotton industry'. Business History Review 57/2: 195-236.
50. Lazonick, William, and Mary O'Sullivan 2000 'Maximizing shareholder value: A new ideology for corporate governance'. Economy and Society 29/1:13-35.
51. Lorenz, E. 1994' Organizational inertia and competitive decline: The British cotton, shipbuilding and car industries, 1945-1975'. Industrial and Corporate Change 3/2: 379-404.
52. McKay, Ruth Burnice 2001 'Organizational responses to an environmental Bill of Rights'. Organization Studies 22/4: 625-658.
53. Marshall, Alfred 1890 Principles of economics. London: Macmillan.
54. Mass, William, and William Lazonick 1990 'The British cotton industry and international competitive advantage: The state of the debates'. Business History 32/4: 9-65.
55. Miles, Caroline 1968 Lancashire textiles: A case study of industrial change. Cambridge: Cambridge University Press.
56. Nooteboom, Bart 1996 'Trust, opportunism and governance: A process and control model'. Organization Studies 17/6: 985-1010.
57. Pearce, John, and Shaker Zahra 1991 'The relative power of CEOs and boards of directors: Associations with corporate performance'. Strategic Management Journal 12/2: 135-153.
58. Penrose, Edith 1959 The theory of the growth of the firm. Oxford: Blackwell.
59. Pfeffer, Jeffrey 1972a 'Interorganizational influence and managerial attitudes'. Academy of Management Journal 15/3: 317-330.
60. Pfeffer, Jeffrey 1972b 'Size and composition of corporate boards of directors: The organization and its environment'. Administrative Science Quarterly 17/2: 218-222.
61. Pfeffer, Jeffrey 1981 Power in organizations, Marshfleld, MA: Pitman.
62. Pfeffer, Jeffrey 1982 Organizations and organization theory. Marshfield, MA: Pitman.
63. Pfeffer, Jeffrey 1992 Managing with power: Politics and influence in organizations, Boston, MA: Harvard University Press.
64. Pfeffer, Jeffrey 1997 New directions for organization theory: Problems and prospects, New York: Oxford University Press.
65. Pfeffer, Jeffrey, and Gerald R. Salancik 1978 The external control of organizations. New York: Harper and Row.
66. Piore, Michael, and Charles Sabel 1984 The second industrial divide. New York: Basic Books.
67. Pollard, Sidney 1965 The genesis of British management. London: Edward Arnold.
68. Porter, Michael 1990 The competitive advantage of nations. Basingstoke: Macmillan.
69. Powell, Walter 1990 'Neither market nor hierarchy: Network forms of organization' in Research in organizational behavior. B. Staw and L. Cummings (eds). Greenwich, CT:JAI Press.
70. Provan, Keith 1980 'Board power and organizational efficiency among human service agencies'. Academy of Management Journal 23/2: 221-236.
71. Provan, Keith, Janice Beyer, and Carlos Kruytbosch 1980 'Environmental linkages and power in resource-dependence relations between organizations'. Administrative Science Quarterly 25/2: 200-225.
72. Reed, Michael R. 2001 'Organization, trust and control: A realist analysis'. Organization Studies 22/2: 201-228.
73. Rose, Mary 2000 Firms, networks and business values: The British and American cotton industries since 1750. Cambridge: Cambridge University Press.
74. Scott, John 1997 Corporate businesses and capitalist classes. Oxford: Oxford University Press.
75. Singleton, John 1996 'The decline of the British cotton industry since 1940' in The Lancashire cotton industry. M. B. Rose (ed.), 296-324. Preston: Lancashire County Books.
76. Teece, David, Gary Pisano, and Amy Sheun 1997 'Dynamic capabilities and strategic management'. Strategic Management Journal 18/7: 509-533.
77. Thorelli, Hans 1986 'Networks: Between markets and hierarchies'. Strategic Management Journal 7/1: 37-51.
78. Toms, J. Steven 1993 'The profitability of the first Lancashire merger: The case of Horrocks Crewdson, 1887-1905. Textile History 24/2: 129-146.
79. Toms, J. Steven 1994 'Financial constraints on economic growth: Profits, capital accumulation, and the development of the Lancashire cotton spinning industry, 1885-1914'. Accounting Business and Financial History 4/3: 364-383.
80. Toms, J. Steven 1996a 'Integration, innovation, and the progress of a Pennine cotton enterprise: Fielden Brothers Ltd, 1889-1914'. Textile History 27/1: 77-100.
81. Toms, J. Steven 1996b 'The finance and growth of the Lancashire textile industry, 1870-1914'. PhD thesis, University of Nottingham.
82. Toms, J. Steven 1998 'The supply of and demand for accounting information in an unregulated market: Examples from the Lancashire cotton mills'. Accounting Organizations and Society 23/2: 217-238.
83. Toms, J. Steven 2001 'Information content of earnings in an unregulated market: The cooperative cotton mills of Lancashire, 1880-1900'. Accounting and Business Research 31/3:175-190.
84. Toms, J. Steven 2002 'The rise of modern accounting and the fall of the public company'. Accounting Organizations and Society 27/1-2: 61-84.
85. Wagner, John, J. L. Stimpert, Edward Fubara 1998 'Board composition and organizational performance: Two studies of insider/outsider effects'. Journal of Management Studies 35/5: 655-677.
86. Westphal, James D., Marc-David L. Seidel, and Katherine J. Stewart 2001 'Second-order imitation: Uncovering latent effects of board network ties'. Administrative Science Quarterly 46/4: 717-747.
87. White, Harrison C. 1992 'Agency as control in formal networks' in Networks and organizations: Structure, forms and actions. N. Nitin and R. Eccles (eds), 92-117. Boston, MA: Harvard Business School Press.
88. Whittington, Richard, and Michael Mayer 2000 The European corporation. Oxford, Oxford University Press.
89. Williamson, Oliver 1975 Markets and hierarchies: Analysis and antitrust implications. New York: Free Press.
90. Williamson, Oliver 1985 Economic institutions of capitalism. New York: Free Press.
91. Williamson, Oliver 1992 'Markets, hierarchies and the modern corporation: An unfolding perspective'. Journal of Economic Behaviour and Organisation 17/3: 335-352.
92. Zaheer, Akbar, and N. Venkatraman 1995 'Relational governance as an Intel-organizational strategy: An empirical test of the role of trust in economic exchange'. Strategic Management Journal 16/5: 373-392.