Institutional Logics and Financing Mechanisms : A Comparative Study of Ningbo and Wenzhou Entrepreneurs

Over the past decades, financial research has been moving outward to engage with other social science disciplines, such as sociology, entre preneurship, and so on. In particular, over the past few years, institutionalists have employed institutional analyses to reveal how the social organization and practices of the financial industries in some countries interact with the evolution of logics, which generally refers tobroad cultural beliefs and rules that structure cognition and fundamentally shape decision making and action (Thornton, 2002, 2004;Marquis and Lounsbury, 2007). Lounsbury (2002) examines the relationship between transformation of logic in the field of finance in the United States and the status mobility projects of financial occupations. Marquis and Lounsbury (2007) investigate how competing logics, namely community and national logics, facilitate resistance to institutional change by focusing on banking professionals’ resistance to large, national banks’ acquisitions of smaller, local banks. Kent and Dacin (2013) examine the interaction between influences of commercial banking and poverty alleviation shaped by the evolution of modern microfinance. They observe that commercial banking logic increasingly displaced microfinance field’s foundational poverty alleviation and development principles over time.