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Since the 1980s, leading U.S. firms have announced massive downsizing plans in the name of maximizing shareholder value, but some observers are skeptical about how serious firms are in implementing these plans. Building on political theories of corporate governance, I examine how conflicts of interest and alignment among investors, workers, and top managers affect the implementation of announced downsizing plans.
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Conventional research in organizational theory highlights the role of board interlocks in facilitating business collective action. In this article, I propose that business collective action affects the evolutionary path of interlock networks. In particular, large market players’ response after a collective action to the classic problem of the "exploitation" of the great by the small provides a mechanism for interlocks to evolve.
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Community reactions against organizations can be driven by negative information spread through a diffusion process that is distinct from the diffusion of organizational practices. Bank panics offer a classic example of selective diffusion of negative information. Bank panics involve widespread bank runs, although a low proportion of banks experience a run. We develop theory on how organizational similarity, community similarity, and network proximity create selective diffusion paths for resistance against organizations.
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Numerous studies document that higher education is associated with a reduced likelihood of depression. The protective effects of higher education, however, are known to vary across population subgroups. This study tests competing theories for who is likely to obtain a greater protective benefit from a college degree against depression through an analysis of data from the National Longitudinal Study of Adolescent to Adult Health and recently developed methods for analyzing heterogeneous treatment effects involving the use of propensity scores.
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This paper contrasts two money-related stressors—debt and economic hardship—and clarifies where debt fits into the stress process model. Debt may be a direct or indirect stressor, as something mediated by psychosocial resources, and may be a potential buffer, interacting with economic hardship. The analyses use data from a two-wave panel study of 1,463 adults. One way debt is distinct from economic hardship is that debt is more common among economically advantaged groups.
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Context effects on survey response, caused by the unobserved interaction between beliefs stored in personal memory and triggers generated by the structure of the survey instrument, are a pervasive challenge to survey research. The authors argue that randomized survey experiments on representative samples, when paired with facilitative primes, can enable researchers to model selection into variable context effects, revealing heterogeneity at the population level.
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Social scientists have drawn on theories of embeddedness to explain the different ways legal, political, and cultural frameworks shape markets. Often overlooked, however, is how the materiality of nature also structures markets. In this article, I suggest that neo-Polanyian scholars, and economic sociologists more generally, should better engage in a historical sociology of concept formation to problematize the human exemptionalist paradigm their work upholds and recognize the role of nature in shaping markets and society.
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This address explores a broad framework for thinking sociologically about emancipatory alternatives to dominant institutions and social structures, especially capitalism. The framework is grounded in two foundational propositions: (1) Many forms of human suffering and many deficits in human flourishing are the result of existing institutions and social structures. (2) Transforming existing institutions and social structures in the right way has the potential to substantially reduce human suffering and expand the possibilities for human flourishing.
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The view that the rich are highly mobile has gained much political traction in recent years and has become a central argument in debates about whether there should be "millionaire taxes" on top-income earners. But a new study dispels the common myth about the propensity of millionaires in the United States to move from high to low tax states.
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Isaac William Martin reviews The Great Transformation: The Political and Economic Origins of Our Time, by Karl Polanyi. B
