Innovation and the theory of fields

Q1 Business, Management and Accounting

AMS Review Pub Date : 2021-07-21 DOI:10.1007/s13162-021-00202-2

Neil Fligstein

引用次数: 9

Abstract

Innovation does not just involve the creation of new products, but also includes the need for new kinds of processes and organizations. Field theory can help us understand why some innovations are more piecemeal and others more revolutionary. It explicitly links innovation to the process of the emergence, adjustment, and transformation of markets (conceived of as fields). To illustrate this perspective, the case of the transition in the U.S. from a mortgage market dominated by savings and loan banks to the emergence of mortgage securitization dominated by the government sponsored enterprises and the largest private banks, is explicated. Field theory helps us understand the logic of this transition and the myriad players and innovations that helped produce a large part of what we consider to be modern finance. The case also shows the limits of economic theories of financial innovation and the sociology of finance. I end with a discussion of how field theory can inform subsequent research on innovation.

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创新与场域理论

创新不仅涉及新产品的创造，还包括对新型流程和组织的需求。场论可以帮助我们理解为什么有些创新更零碎，而另一些则更具革命性。它明确地将创新与市场（被认为是领域）的出现、调整和转型过程联系起来。为了说明这一观点，阐述了美国从储蓄和贷款银行主导的抵押贷款市场向政府资助的企业和最大的私人银行主导的按揭证券化的转变。场论有助于我们理解这种转变的逻辑，以及无数参与者和创新，这些参与者和创新帮助我们产生了我们认为的现代金融的很大一部分。该案例也表明了金融创新的经济学理论和金融社会学的局限性。最后，我讨论了场论如何为后续的创新研究提供信息。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

AMS Review Business, Management and Accounting-Marketing

CiteScore

14.60

自引率

0.00%

发文量

期刊介绍： The AMS Review is positioned to be the premier journal in marketing that focuses exclusively on conceptual contributions across all sub-disciplines of marketing. It publishes articles that advance the development of market and marketing theory.The AMS Review is receptive to different philosophical perspectives and levels of analysis that range from micro to macro. Especially welcome are manuscripts that integrate research and theory from non-marketing disciplines such as management, sociology, economics, psychology, geography, anthropology, or other social sciences. Examples of suitable manuscripts include those incorporating conceptual and organizing frameworks or models, those extending, comparing, or critically evaluating existing theories, and those suggesting new or innovative theories. Comprehensive and integrative syntheses of research literatures (including quantitative and qualitative meta-analyses) are encouraged, as are paradigm-shifting manuscripts.Manuscripts that focus on purely descriptive literature reviews, proselytize research methods or techniques, or report empirical research findings will not be considered for publication. The AMS Review does not publish manuscripts focusing on practitioner advice or marketing education.