A double-edged sword: The conditional properties of elite network ties in the financial sector

IF 4.6 1区社会学 Q1 ENVIRONMENTAL STUDIES

Environment and Planning A-Economy and Space Pub Date : 2022-11-03 DOI:10.1177/0308518X221127704

K. Young, T. Marple, James Heilman, B. Desmarais

引用次数: 0

Abstract

Existing scholarship suggests a deep relationship between elite connections and policy making in the financial sector. But are elite ties between private industry and government a resource for private industry, or a liability? We find that they can be either, depending on the circumstances. We analyze the associations of elite ties within numerous policy-making processes in the financial sector by measuring the network closeness between firms and government regulators. We then relate these measures of network closeness to a range of actual regulatory outcomes, from highly politicized bank bailouts to meetings with regulators both in crisis environments and in more detailed technocratic policy-making. Our findings point to the importance of institutional context in differentiating the role that elite ties might play in different circumstances. Within financial regulatory policy-making, while social ties between firms and regulators matter, they matter in different ways within different institutional contexts.

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一把双刃剑:金融领域精英网络关系的条件属性

现有的学术研究表明，精英人脉与金融领域的政策制定之间存在着深刻的关系。但是，私营企业和政府之间的精英关系是私营企业的资源，还是一种负担?我们发现，根据具体情况，两者都有可能。我们通过衡量公司和政府监管机构之间的网络紧密程度，分析了金融部门众多决策过程中精英关系的关联。然后，我们将这些网络亲密度的衡量标准与一系列实际监管结果联系起来，从高度政治化的银行救助到在危机环境中与监管机构会面，以及更详细的技术官僚政策制定。我们的研究结果指出了制度背景在区分精英关系在不同情况下可能发挥的作用方面的重要性。在制定金融监管政策的过程中，虽然企业和监管机构之间的社会关系很重要，但它们在不同的制度背景下以不同的方式发挥作用。

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

Environment and Planning A-Economy and Space Multiple-

CiteScore

9.50

自引率

9.50%

发文量

100

期刊介绍： Environment and Planning A: Economy and Space is a pluralist and heterodox journal of economic research, principally concerned with questions of urban and regional restructuring, globalization, inequality, and uneven development. International in outlook and interdisciplinary in spirit, the journal is positioned at the forefront of theoretical and methodological innovation, welcoming substantive and empirical contributions that probe and problematize significant issues of economic, social, and political concern, especially where these advance new approaches. The horizons of Economy and Space are wide, but themes of recurrent concern for the journal include: global production and consumption networks; urban policy and politics; race, gender, and class; economies of technology, information and knowledge; money, banking, and finance; migration and mobility; resource production and distribution; and land, housing, labor, and commodity markets. To these ends, Economy and Space values a diverse array of theories, methods, and approaches, especially where these engage with research traditions, evolving debates, and new directions in urban and regional studies, in human geography, and in allied fields such as socioeconomics and the various traditions of political economy.