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The Origin of Organizational Species

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  • Ugo Pagano

Abstract

The paper argues that some of the limitations and problems examined by Darwin and modern biologists in relation to the working of natural selection in the case of speciation may be one aspect of more general rules which have some counterpart in the competitive selection of organisational species in capitalist economic development. In biology the laws of structure and change that characterise the selection among species are very different from those that characterise the selection of the member of the same species. These ideas are applied to understanding the "Second Industrial Revolution" and the development of the new species of "managerial capitalism" in the United States and Germany, in contrast to Britain, whose firms and entrepreneurs failed to keep pace with organisational change.

Suggested Citation

  • Ugo Pagano, 1999. "The Origin of Organizational Species," Working Papers wp118, Centre for Business Research, University of Cambridge.
  • Handle: RePEc:cbr:cbrwps:wp118 Note: PRO-1
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    File URL: https://www.cbr.cam.ac.uk/fileadmin/user_upload/centre-for-business-research/downloads/working-papers/wp118.pdf
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    References listed on IDEAS

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    1. Chunhachinda, Pornchai & Dandapani, Krishnan & Hamid, Shahid & Prakash, Arun J., 1997. "Portfolio selection and skewness: Evidence from international stock markets," Journal of Banking & Finance, Elsevier, vol. 21(2), pages 143-167, February.
    2. Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, March.
    3. Levy, Haim & Sarnat, Marshall, 1970. "International Diversification of Investment Portfolios," American Economic Review, American Economic Association, vol. 60(4), pages 668-675, September.
    4. Elton, Edwin J. & Gruber, Martin J., 1992. "Optimal investment strategies with investor liabilities," Journal of Banking & Finance, Elsevier, vol. 16(5), pages 869-890, September.
    5. Tesar, Linda L. & Werner, Ingrid M., 1995. "Home bias and high turnover," Journal of International Money and Finance, Elsevier, vol. 14(4), pages 467-492, August.
    6. Cooper, Ian & Kaplanis, Evi, 1994. "Home Bias in Equity Portfolios, Inflation Hedging, and International Capital Market Equilibrium," Review of Financial Studies, Society for Financial Studies, vol. 7(1), pages 45-60.
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    Cited by:

    1. Pagano, Ugo, 2000. "Public markets, private orderings and corporate governance," International Review of Law and Economics, Elsevier, vol. 20(4), pages 453-477, December.
    2. Hodgson, Geoffrey M., 2004. "A comment on the paper by Joseph Henrich," Journal of Economic Behavior & Organization, Elsevier, vol. 53(1), pages 81-84, January.
    3. Erkan Gürpinar, 2013. "Notes on Institutional Complementarities and Organizational Forms," Department of Economics University of Siena 678, Department of Economics, University of Siena.
    4. Earle, John S. & Pagano, Ugo & Lesi, Maria, 2006. "Information technology, organizational form, and transition to the market," Journal of Economic Behavior & Organization, Elsevier, vol. 60(4), pages 471-489, August.
    5. Landini, Fabio, 2012. "Technology, property rights and organizational diversity in the software industry," Structural Change and Economic Dynamics, Elsevier, vol. 23(2), pages 137-150.
    6. Alberto Battistini & Ugo Pagano, 2008. "Primates’ fertilization systems and the evolution of the human brain," Journal of Bioeconomics, Springer, vol. 10(1), pages 1-21, April.
    7. Ugo Pagano, 2003. "Posiciones legales y complementariedades institucionales," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 5(9), pages 17-54, July-Dece.

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