Regime theory and the development of the securities industry

Document Type

Article

Publication Title

Management and Organizational History

ISSN

1744-9359

Volume

7

Issue

2

DOI

10.1177/1744935912437484

First Page

133

Last Page

156

Publication Date

5-1-2012

Abstract

The role of governance systems is a critical factor in understanding how industries grow and change. This paper proposes that by using regime theory, a theory commonly used in political science, researchers can better understand the mechanisms of change. Specifically, it utilizes the norms, principles, rules and decision-making procedures that occur in an industry as the critical variables. This argument is supported through a historical examination of events in the US brokerage house industry, focusing on events from the 1960s through to the mid-1990s. This historical case study shows how different regimes lead to different types of change in the industry. © The Author(s) 2012.

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