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The global financial crisis: an institutional theory analysis

Suhaib Riaz (Faculty of Business and IT, University of Ontario Institute of Technology, Oshawa, Canada)

Critical Perspectives on International Business

ISSN: 1742-2043

Article publication date: 10 April 2009

5956

Abstract

Purpose

This paper seeks to provide insights into the current global financial crisis from an institutional theory perspective.

Design/methodology/approach

The paper presents the development of key concepts using institutional theory, grounded in a discussion of the context of the current global financial crisis.

Findings

The interplay of financial industry organizations and formal and informal institutions is key to understanding the creation of the crisis.

Research limitations/implications

The treatment is brief but serves to provoke further research on the global financial crisis through applying and extending new institutional theory.

Practical implications

Fundamental aspects of the crisis need to be understood with respect to the organizational‐institutional interplay involving the financial industry. This would help to reveal the general pattern of such crises and also point towards what needs to be taken into account for potential solutions.

Originality/value

The paper has value for researchers as it opens up a discussion of the current crisis from an institutional theory perspective. Fresh concepts introduced here could be extended further and inform institutional theory in general. The paper has value for policy makers and practitioners in helping them understand the fundamentals of the organizational‐institutional interplay underlying the current crisis.

Keywords

Citation

Riaz, S. (2009), "The global financial crisis: an institutional theory analysis", Critical Perspectives on International Business, Vol. 5 No. 1/2, pp. 26-35. https://doi.org/10.1108/17422040910938668

Publisher

:

Emerald Group Publishing Limited

Copyright © 2009, Emerald Group Publishing Limited

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