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1、TheConditionalNatureofEmbeddedness:AStudyofBorrowingbyLargeU.S.Firms,1973-1994Author(s):MarkS.Mizruchi,LindaBrewsterStearnsandChristopherMarquisSource:AmericanSociologicalReview,Vol.71,No.2(Apr.,2006),pp.310-333Publishedby:AmericanSociologicalAssociationStabl
2、eURL:http://www.jstor.org/stable/30038990.Accessed:10/12/201308:20YouruseoftheJSTORarchiveindicatesyouracceptanceoftheTerms&ConditionsofUse,availableat.http://www.jstor.org/page/info/about/policies/terms.jsp.JSTORisanot-for-profitservicethathelpsscholars,rese
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4、lAssociationiscollaboratingwithJSTORtodigitize,preserveandextendaccesstoAmericanSociologicalReview.http://www.jstor.orgThiscontentdownloadedfrom113.108.133.58onTue,10Dec201308:20:11AMAllusesubjecttoJSTORTermsandConditionsTheConditionalNatureofEmbeddedness:ASt
5、udyofBorrowingbyLargeU.S.Firms,1973-1994MarkS.MizruchiLindaBrewsterSteamsUniversityofMichiganSouthernMethodistUniversityChristopherMarquisHarvardUniversityEconomicandorganizationalsociologistshaveincreasinglydemonstratedthattheactionsofindividualsandfirmsarea
6、ffectedbythesocialnetworkswithinwhichtheyareembedded.Inrecentyearsscholarshavebeguntorecognizethattheeffectsofthesesocialnetworksmayvaryacrosspopulationsortypesofrelations.Thisarticleexaminestheextenttowhichtheeffectsofinterfirmnetworksonthebehavioroffirmsare
7、historicallycontingent.Focusingonthelevelofdebtfinancingamongapproximately140largeU.S.corporationsovera22-yearperiod,theauthorsshowthattheextenttowhichthefirms'useofdebtwasinfluencedbythosewithwhichtheyweretiedthroughdirectorinterlocksdeclinedovertime.Theauth
8、orsarguethatthisdeclineinthenetworkeffectreflectedashiftintheinstitutionalenvironmentwithinwhichthefirmsoperated,andthatitwasdrivenbythreeprocesses:theprofessionalizationofthefinancefunct