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http://ssrn.com/abstract=1873929
 
 

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Bridging the Institutional Divide: Partnerships in Subsistence Markets


Miguel Rivera-Santos


Babson College

Carlos R. Rufin


Babson College - Management Division

Ans Kolk


University of Amsterdam Business School

June 28, 2011

Journal of Business Research, 2012, 65, pp. 1721-1727

Abstract:     
The paper analyzes the impact of institutions on the structure of partnerships in subsistence markets (SMs). Grounded in institutional theory and transaction cost economics, the reasoning suggests that partnerships will adapt to the co-existence of SM-specific and external institutions in SMs. SM partnerships will include multiple partners from multiple sectors, each compensating for different institutional gaps in SMs. They will replace governance mechanisms discussed in the literature, such as formal contracts and equity, with substitutes better suited to SM contexts, including informal contracts, in-kind contributions, and gifts. The importance of these mechanisms will depend on the institutional distance between SM-specific and external institutions. Finally, different governance mechanisms will co-exist within the same partnership, as partners originating in the SM will rely on SM-specific institutions, while partners originating outside the SM will prefer to rely on external institutions where possible.

Number of Pages in PDF File: 28

Keywords: subsistence markets, subsistence marketplaces, cross-sector partnerships, base of the pyramid, bottom of the pyramid, institutions, regulation, poverty

JEL Classification: D21, F23, G38, H11, H7, I39, L1, L2, L31, M1, M21, O17

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Date posted: June 28, 2011 ; Last revised: January 1, 2013

Suggested Citation

Rivera-Santos, Miguel and Rufin, Carlos R. and Kolk, Ans, Bridging the Institutional Divide: Partnerships in Subsistence Markets (June 28, 2011). Journal of Business Research, 2012, 65, pp. 1721-1727. Available at SSRN: http://ssrn.com/abstract=1873929

Contact Information

Miguel Rivera-Santos
Babson College ( email )
Babson Park, MA 02157
United States
781-239-5325 (Phone)
Carlos Rufin
Babson College - Management Division ( email )
Babson Park, MA 02457
United States
781-239-6411 (Phone)
781-239-5272 (Fax)
Ans Kolk (Contact Author)
University of Amsterdam Business School ( email )
Roetersstraat 18
Amsterdam, 1018WB
Netherlands
+31 20 525 4289 (Phone)
+31 20 525 5281 (Fax)
HOME PAGE: http://www.anskolk.nl
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