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| Author: | Ranger-Moore, J. Banaszak-Holl, J. Hannan, M. T. |
| Title: | Density-dependent dynamics in regulated industries: founding rates of banks and life insurance companies |
| Journal: | Administrative Science Quarterly
1991 : MAR, VOL. 36:1, p. 36-65 |
| Index terms: | BANKS LIFE INSURANCE COMPANIES ECOLOGY THEORIES COMPETITION INDUSTRIES REGULATIONS |
| Language: | eng |
| Abstract: | Two criticisms of the ecological theory of density-dependent legitimation and competition are addressed: /1/ that it does not apply to business organizations for whom legitiation is not problematic , and /2/ that it applies only when many small and powerless organizations engage in competition free of external regulation. The theory is applied to founding rates in Manhattan banks and American insurance companies, which are composed of prototypical business organizations. The first-order effect of density is positive and significant and the second-order effect is negative and significant, implying an inverted-U shape relation between density and founding rates, in agreement with the theory. |
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