We distinguish between two forms of local banks that build and maintain legitimacy in different ways: branches and unit banks. Branches gain legitimacy through the parent organization. Unit banks gain legitimacy through the personal reputation and social connections of the founders. Given the...

Social relationships channel information, influence, and access to scarce resources. As a consequence, social networks - the patterns of these relationships across the members of a community - influence who comes up with important innovations, whether and how rapidly those innovations get...

Social relationships channel information, influence, and access to scarce resources. As a consequence, social networks – the patterns of these relationships across the members of a community – influence who comes up with important innovations, whether and how rapidly those innovations get...

As we move into the 21st century, the world seems a smaller place - transportation costs continue to fall, fiber optic networks speed information around the planet, and corporations operate on a global scale. One might reasonably ask whether location really matters anymore. Despite these trends...