The Contingent Nature of Public Policy and the Growth of US Commercial Banking

Marquis, C., & Huang, Z. (2009). The contingent nature of public policy and the growth of US commercial banking. Academy of Management Journal, 52(6), 1222-1246.

25 Pages Posted: 1 Jun 2015 Last revised: 3 May 2016

See all articles by Christopher Marquis

Christopher Marquis

Cornell University; Harvard University - Harvard Kennedy School (HKS)

Zhi Huang

University of Kentucky - Gatton College of Business and Economics

Date Written: 2009

Abstract

That public policy affects organizational behaviors is well accepted, but less explored is how these effects may depend on other external environmental factors. We investigated policy as a necessary, but not sufficient, condition for understanding the growth of commercial banking in the United States, 1896-1978. We highlight a trade-off for banks between centralized and dispersed growth strategies and show that which strategy prevails depends on how policy enabling branching interacts with technological, economic, and cultural environments. Our findings contribute to understanding the contingent effects of policy on organizations and on the growth of large corporations in the 20th century.

Keywords: institution, public policy, culture, urbanization, banking

Suggested Citation

Marquis, Christopher and Huang, Zhi, The Contingent Nature of Public Policy and the Growth of US Commercial Banking (2009). Marquis, C., & Huang, Z. (2009). The contingent nature of public policy and the growth of US commercial banking. Academy of Management Journal, 52(6), 1222-1246.. Available at SSRN: https://ssrn.com/abstract=2612695

Christopher Marquis

Cornell University ( email )

363 Sage Hall
Ithaca, NY 14853
United States

HOME PAGE: http://www.chrismarquis.com

Harvard University - Harvard Kennedy School (HKS) ( email )

79 John F. Kennedy Street
Cambridge, MA 02138
United States

Zhi Huang (Contact Author)

University of Kentucky - Gatton College of Business and Economics ( email )

550 South Limestone
Lexington, KY 40506
United States

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