Creating and Capturing Value in Repeated Exchange Relationships: The Second Paradox of Embeddedness

The Boeing Center for Technology, Information, and Manufacturing provided generous research support for this project. The authors thank Joel Baum, Jeff Dyer, Ranjay Gulati, Olav Sorenson, and seminar participants at Bocconi University, Massachusetts Institute of Technology, University of Amsterdam, University of Illinois, and University of Michigan, the 2009 University of Utah/BYU Winter Strategy Conference, the 2009 Atlanta Competitive Advantage Conference, and the 2009 Sumantra Ghoshal Conference at London Business School, the 2010 Israel Strategy Conference, 2014 INFORMS, and 2015 ISNIE, for helpful comments. The authors also thank Dan Douglass and Tracy Smith Clyburn for many helpful conversations, and they thank Ellen Wen, Nina Noll, Jon D’Antonio, Chase Zenger, and Andrew Zenger for research assistance in assembling these data. We are grateful for financial support from the Boeing Center for Technology, Information, and Manufacturing at Washington University in St. Louis.