The Oxford Handbook of Asian Business Systems by Michael A. Witt;Gordon Redding; & GORDON REDDING

Author:Michael A. Witt;Gordon Redding; & GORDON REDDING
Language: eng
Format: epub
Publisher: OUP Premium
Published: 2014-03-15T00:00:00+00:00

CHAPTER 17

CULTURE AND THE BUSINESS SYSTEMS OF ASIA

GORDON REDDING, MICHAEL HARRIS BOND, AND MICHAEL A. WITT

THE business-system literature is essentially an exercise in exploring and categorizing institutional variations across societies, determining their impact on various outcome variables such as social equality or comparative advantage, and understanding processes of institutional change. Culture rarely enters the picture (exceptions include Redding 2005; Redding and Witt 2007; Witt and Redding 2009). This is peculiar in that the impact of cultural variations is widely accepted and taken for granted in some social-science disciplines, including business (Kirkman, Lowe, and Gibson 2006). Likewise, seminal works in the business-systems and varieties of capitalism literature suggest that the origins and evolution of institutions cannot be divorced from underlying cultural factors. Hall and Soskice (2001:13) noted that in addition to formal institutions,

something else is needed to lead the actors to coordinate on a specific equilibrium and … what leads the actors to a specific equilibrium is a set of shared understandings about what other actors are likely to do, often rooted in a sense of what it is appropriate to do in such circumstances.

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