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Sophistication of interfirm network strategies in the Canadian investment banking industry

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  • Rowley, Timothy J.
  • Baum, Joel A.C.

Abstract

Using data on all underwriting syndicates in Canada over nearly 40 years, we examine whether, and if so to what extent, managers are aware of and strategic about their network positions by comparing the effects of partner selection on network position at two levels of complexity. Our findings show that when investment banks' managers formed and joined underwriting syndicates, they improved their network positions by spanning more structural holes. They did not, however, distinguish between constrained and unconstrained structural holes, which would require a more complex understanding of the network. Our study suggests that models of network-based competitive advantages and network change need to consider more fully firms' network strategies and the cognitive limits of the managers enacting them.

Suggested Citation

  • Rowley, Timothy J. & Baum, Joel A.C., 0. "Sophistication of interfirm network strategies in the Canadian investment banking industry," Scandinavian Journal of Management, Elsevier, vol. 20(1-2), pages 103-124, March.
    • Handle: RePEc:eee:scaman:v:20:y::i:1-2:p:103-124
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    Cited by:

    1. Haifeng Wang & Longwei Tian & Yuan Li, 2019. "A tale of two cultures: Social networks and competitive advantage," Asia Pacific Journal of Management, Springer, vol. 36(2), pages 321-347, June.
    2. Yi-Ju Lo & Tung M. Hung, 2017. "Is a powerful rival a right partner?," Review of Managerial Science, Springer, vol. 11(3), pages 661-690, July.
    3. Contreras, Gabriela & Bos, Jaap W.B. & Kleimeier, Stefanie, 2019. "Self-regulation in sustainable finance: The adoption of the Equator Principles," World Development, Elsevier, vol. 122(C), pages 306-324.
    4. Krijkamp, Annefleur R. & Knoben, Joris & Oerlemans, Leon A.G. & Leenders, Roger T.A.J., 2021. "An ace in the hole: The effects of (in)accurately observed structural holes on organizational reputation positions in whole networks," Journal of Business Research, Elsevier, vol. 129(C), pages 703-713.
    5. Joris Knoben & Leon A. G. Oerlemans & Annefleur R. Krijkamp & Keith G. Provan, 2018. "What Do They Know? The Antecedents of Information Accuracy Differentials in Interorganizational Networks," Organization Science, INFORMS, vol. 29(3), pages 471-488, June.
    6. José-Antonio Belso-Martínez & Manuel Expósito-Langa, 2015. "Persistence and extinction of brokerage roles in clusters: the role of status, former experiences and extra-cluster relationships," Papers in Evolutionary Economic Geography (PEEG) 1501, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Jan 2015.
    7. Andrew V. Shipilov & Stan Xiao Li & Henrich R. Greve, 2011. "The Prince and the Pauper: Search and Brokerage in the Initiation of Status-Heterophilous Ties," Organization Science, INFORMS, vol. 22(6), pages 1418-1434, December.
    8. Andrew V. Shipilov, 2009. "Firm Scope Experience, Historic Multimarket Contact with Partners, Centrality, and the Relationship Between Structural Holes and Performance," Organization Science, INFORMS, vol. 20(1), pages 85-106, February.
    9. Tim J. Rowley & Joel A. C. Baum & Andrew V. Shipilov & Henrich R. Greve & Hayagreeva Rao, 2004. "Competing in groups," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 25(6-7), pages 453-471.
    10. José Antonio Belso-Martínez & Manuel Expósito-Langa & Francisco Mas-Verdú & F. Xavier Molina-Morales, 2017. "Dynamics of Brokerage Positions in Clusters: Evidence from the Spanish Foodstuffs Industry," Sustainability, MDPI, vol. 9(2), pages 1-18, February.

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