The New Understanding of the Term ‘Embeddedness’ in Economic Sociology

Philipp Aerni ()
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Philipp Aerni: Center for Corporate Responsibility and Sustainability (CCRS) at the University of Zurich

Chapter Chapter 5 in Global Business in Local Culture, 2018, pp 51-59 from Springer

Abstract: Abstract The sociologist Jens Beckert argues that coordination problems increase uncertainty and ultimately prevent the embeddedness of global business in local cultures and economies. The chapter illustrates how foreign investors address these coordination problems by building up a local ecosystem in which they can operate effectively, according to the theory of economic complexity. Through their commitment to local embeddedness MNEs are able to build up social capital, the foundation of mutually beneficial arrangements between global business and local culture.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-030-03798-7_5

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DOI: 10.1007/978-3-030-03798-7_5

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