The Limits of Media Effects: Field Positions and Cultural Change in a Mutual Fund Market

References

• Abrahamson E. Management fashion. Acad. Management Rev. (1996) 21(1):254–285Crossref, Google Scholar
• Aktiefondsutredningen Lagstiftning om värdepappersfonder mm och om stämpelskatt på värdepapper. Legislation on mutual funds, etc., and if the stamp duty on securities (1969) (Esselte, Stockholm). (Statens offentliga utredningar 1969:16) [Govenmental inquiry]Google Scholar
• Banerjee B., Bandyopadhyay S. Advertising competition under consumer inertia. Marketing Sci. (2003) 22(1):131–144Link, Google Scholar
• Barber B. M., Odean T., Zheng L. Out of sight, out of mind: The effects of expenses on mutual fund flows. J. Bus. (2005) 78(6):2095–2120Crossref, Google Scholar
• Baum J. A. C., Powell W. W. Cultivating an institutional ecology of organizations: Comment on Hannan, Carroll, Dundon, and Torres. Amer. Sociol. Rev. (1995) 60(4):529–538Crossref, Google Scholar
• Beck P. A., Dalton R. J., Greene S., Huckfeldt R. The social calculus of voting: Interpersonal, media, and organizational influences on presidential choices. Amer. Political Sci. Rev. (2002) 96(1):57–73Crossref, Google Scholar
• Benjamin B. A., Podolny J. M. Status, quality, and social order in the California wine industry. Admin. Sci. Quart. (1999) 44(3):563–589Crossref, Google Scholar
• Bergstresser D., Poterba J. Do after-tax returns affect mutual fund inflows? J. Financial Econom. (2002) 63(3):381–414Crossref, Google Scholar
• Biggart N. W., Beamish T. D. The economic sociology of conventions: Habit, custom, practice, and routine in market order. Annual Rev. Sociol. (2003) 29(1):443–464Crossref, Google Scholar
• Botan C. H., Taylor M. Public relations: State of the field. J. Comm. (2004) 54(4):645–661Crossref, Google Scholar
• Bourdieu P., Nice R.Outline of a Theory of Practice (1977) (Cambridge University Press, Cambridge, UK) Crossref, Google Scholar
• Burns L. R., Wholey D. R. Adoption and abandonment of matrix management programs: Effects of organizational characteristics and interorganizational networks. Acad. Management J. (1993) 36(1):106–138Crossref, Google Scholar
• Burt R. S.Structural Holes: The Social Structure of Competition (1992) (Harvard University Press, Cambridge, MA) Crossref, Google Scholar
• Carey J. W.Communication as Culture: Essays on Media and Society (1988) (Unwin Hyman, London) Google Scholar
• Carhart M. M. On persistence in mutual fund performance. J. Finance (1997) 52(1):57–82Crossref, Google Scholar
• Carlsson U., Harrie E.Media Trends 2001: Denmark, Finland, Iceland, Norway and Sweden (Nordic Media Trends) (2001) (Nordiskt Informationscenter för Medie- och Kommunikationsforskning, Göteborg, Sweden) Google Scholar
• Carroll C. E., McCombs M. Agenda-setting effects of business news on the public's images and opinions about major corporations. Corporate Reputation Rev. (2003) 6(1):36–46Crossref, Google Scholar
• Chen C. C., Meindl J. R. The construction of leadership images in the popular press: The case of donald burr and people express. Admin. Sci. Quart. (1991) 36(4):521–551Crossref, Google Scholar
• Clemens E. S., Cook J. M. Politics and institutionalism: Explaining durability and change. Annual Rev. Sociol. (1999) 25:441–466Crossref, Google Scholar
• Cronqvist H. Advertising and portfolio choice. (2006) . Working paper, Claremont McKenna College, Claremont, CA. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=920693Google Scholar
• Dacin M. T. Isomorphism in context: The power and prescription of institutional norms. Acad. Management J. (1997) 40(1):46–81Crossref, Google Scholar
• Davis G. F. New directions in corporate governance. Annual Rev. Sociol. (2005) 31:143–162Crossref, Google Scholar
• Davis G. F., Greve H. R. Corporate elite networks and governance changes in the 1980s. Amer. J. Sociol. (1997) 103(1):1–37Crossref, Google Scholar
• Davis G. F., Diekmann K. A., Tinsley C. H. The decline and fall of the conglomerate firm in the 1980s: The deinstitutionalization of an organizational form. Amer. Sociol. Rev. (1994) 59(4):547–570Crossref, Google Scholar
• Davis G. F., McAdam D., Scott W. R., Zald M. N.Social Movements and Organization Theory (2005) (Cambridge University Press, New York) Crossref, Google Scholar
• Deephouse D. L. Media reputation as a strategic resource: An integration of mass communication and resource-based theories. J. Management (2000) 26(6):1091–1112Crossref, Google Scholar
• Del Guercio D., Tkac P. A. The determinants of the flow of funds of managed portfolios: Mutual funds vs. pension funds. J. Financial Quant. Anal. (2002) 37(4):523–557Crossref, Google Scholar
• DiMaggio P. J., Zucker L. G. Interest and agency in institutional theory. Institutional Patterns and Organizations: Culture and Environment (1988) (Ballinger, Cambridge, MA) 3–23Google Scholar
• DiMaggio P. J., Powell W. W., DiMaggio P. J. Constructing an organizational field as a professional project: U.S. art museums, 1920–1940. The New Institutionalism in Organizational Analysis (1991) (University of Chicago Press, Chicago) 267–292Google Scholar
• DiMaggio P. J., Powell W. W. The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. Amer. Sociol. Rev. (1983) 48(2):147–160Crossref, Google Scholar
• Dobbin F.Forging Industrial Policy: The United States, Britain and France in the Railway Age (1994) (Cambridge University Press, New York) Crossref, Google Scholar
• Engström S. Success factors in asset management. (2001) . Ph.D. dissertation, Stockholm School of Economics, StockholmGoogle Scholar
• Fama E. F., MacBeth J. D. Risk, return, and equilibrium: Empirical tests. J. Political Econom. (1973) 81(3):607–636Crossref, Google Scholar
• Ferguson P. P. A cultural field in the making: Gastronomy in 19th-century France. Amer. J. Sociol. (1998) 104(3):597–641Crossref, Google Scholar
• Fiss P. C., Hirsch P. M. The discourse of globalization: Framing and sensemaking of an emerging concept. Amer. Sociol. Rev. (2005) 70(1):29–52Crossref, Google Scholar
• Fiss P. C., Zajac E. J. The diffusion of ideas over contested terrain: The (non)adoption of a shareholder value orientation among German firms. Admin. Sci. Quart. (2004) 49(4):501–534Crossref, Google Scholar
• Fligstein N. J.The Transformation of Corporate Control (1990) (Harvard University Press, Cambridge, MA) Google Scholar
• Fligstein N. J. Markets as politics: A political-cultural approach to market institutions. Amer. Sociol. Rev. (1996) 61(4):656–673Crossref, Google Scholar
• Fligstein N. J. Social skill and institutional theory. Amer. Behav. Scientist (1997) 40(4):397–405Crossref, Google Scholar
• Fligstein N. J.The Architecture of Markets: An Economic Sociology of Twenty-First-Century Capitalist Societies (2001) (Princeton University Press, Princeton, NJ) Crossref, Google Scholar
• Gallaher S., Kaniel R., Starks L. T. Madison Avenue meets Wall Street: Mutual fund families, competition and advertising. (2006) . Working paper, University of Texas at Austin, Austin. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=879775Google Scholar
• Gamson W. A., Modigliani A. Media discourse and public opinion on nuclear power: A constructionist approach. Amer. J. Sociol. (1989) 95(1):1–37Crossref, Google Scholar
• Gamson W. A., Croteau D., Hoynes W., Sasson T. Media images and the social construction of reality. Annual Rev. Sociol. (1992) 18:373–393Crossref, Google Scholar
• Gans H. J.Deciding What's News: A Study of CBS Evening News, NBC Nightly News, Newsweek, and Time (1979) (Pantheon Books, New York) Google Scholar
• Gerbner G., Gross L. Living with television: The violence profile. J. Comm. (1976) 26(2):172–194Crossref, Google Scholar
• Gerbner G., Gross L., Morgan M., Signorielli N., Shanahan J., Bryant J., Zillmann D. Growing up with television: Cultivation processes. Media Effects: Advances in Theory and Research (2002) 2nd ed.(Lawrence Erlbaum Associates, Mahwah, NJ) 43–67Google Scholar
• Grafström M. The development of Swedish business journalism: Historical roots of an organisational field. (2006) . Ph.D. dissertation, Uppsala University, Uppsala, SwedenGoogle Scholar
• Greenwood R., Suddaby R., Hinings C. R. Theorizing change: The role of professional associations in the transformation of institutionalized fields. Acad. Management J. (2002) 45(1):58–80Crossref, Google Scholar
• Hall S., Gurevitch M., Bennett T., Curran J., Woollacott J. The rediscovery of “ideology”: Return of the repressed in media studies. Culture, Society and the Media (1982) (Methuen, London) 52–86Google Scholar
• Hoffman A. J. Institutional evolution and change: Environmentalism and the U.S. chemical industry. Acad. Management J. (1999) 42(4):351–371Crossref, Google Scholar
• Jain P. C., Wu J. S. Truth in mutual fund advertising: Evidence on future performance and fund flows. J. Finance (2000) 55(2):937–958Crossref, Google Scholar
• Jonsson S. Making and breaking norms: Competitive imitation patterns in the Swedish mutual fund industry. (2002) . Ph.D. dissertation, Stockholm School of Economics, StockholmGoogle Scholar
• Jonsson S., Greve H. R., Fujiwara-Greve T. Undeserved loss: The spread of legitimacy loss to innocent organizations in response to reported corporate deviance. Admin. Sci. Quart. (2009) 54(2):195–228Crossref, Google Scholar
• Kaufman P., Jayachandran S., Rose R. L. The role of relational embeddedness in retail buyers' selection of new products. J. Marketing Res. (2006) 43(4):580–587Crossref, Google Scholar
• Kellner D.Television and the Crisis of Democracy (1990) (Westview Press, Boulder, CO) Google Scholar
• Kennedy M. T. Getting counted: Markets, media, and reality. Amer. Sociol. Rev. (2008) 73(2):270–295Crossref, Google Scholar
• Khorana A., Servaes H. An examination of competition in the mutual fund industry. (2002) . Working paper, Georgia Institute of Technology, AtlantaGoogle Scholar
• Kiousis S., Bantimaroudis P., Ban H. Candidate image attributes: Experiments on the substantive dimension of second level agenda setting. Comm. Res. (1999) 26(4):414–428Crossref, Google Scholar
• Kjær P., Langer R. Infused with news value: Management, managerial knowledge and the institutionalization of business news. Scandinavian J. Management (2005) 21(2):209–233Crossref, Google Scholar
• Knorr Cetina K., Preda A.The Sociology of Financial Markets (2005) (Oxford University Press, Oxford, UK) Google Scholar
• Lawrence T. B., Phillips N. From Moby Dick to Free Willy: Macro-cultural discourse and institutional entrepreneurship in emerging institutional fields. Organization (2004) 11(5):689–711Crossref, Google Scholar
• Leblebici H., Salancik G. R., Copay A., King T. Institutional change and the transformation of interorganizational fields: An organizational history of the United States radio broadcasting industry. Admin. Sci. Quart. (1991) 36(3):333–363Crossref, Google Scholar
• Lounsbury M. Institutional transformation and status mobility: The professionalization of the field of finance. Acad. Management J. (2002) 45(1):255–266Crossref, Google Scholar
• Lounsbury M. A tale of two cities: Competing logics and practice variation in the professionalizing of mutual funds. Acad. Management J. (2007) 50(2):289–307Crossref, Google Scholar
• Lounsbury M., Ventresca M. The new structuralism in organizational theory. Organization (2003) 10(3):457–480Crossref, Google Scholar
• Lull J., Hinerman S.Media Scandals: Morality and Desire in the Popular Culture Marketplace (1997) (Columbia University Press, New York) Google Scholar
• Lynch A. W., Musto D. K. How investors interpret past fund returns. J. Finance (2003) 58(5):2033–2058Crossref, Google Scholar
• MacKenzie D., Millo Y. Constructing a market, performing theory: The historical sociology of a financial derivatives exchange. Amer. J. Sociol. (2003) 109(1):107–145Crossref, Google Scholar
• Maguire S., Hardy C., Lawrence T. B. Institutional entrepreneurship in emerging fields: HIV/AIDS treatment advocacy in Canada. Acad. Management J. (2004) 47(5):657–679Crossref, Google Scholar
• Marquis C., Lounsbury M. Vive la résistance: Competing logics and the consolidation of U.S. community banking. Acad. Management J. (2007) 50(4):799–820Crossref, Google Scholar
• McCarthy J. D., McPhail C., Smith J. Images of protest: Dimensions of selection bias in media coverage of Washington demonstrations, 1982 and 1991. Amer. Sociol. Rev. (1996) 61(3):478–499Crossref, Google Scholar
• McCombs M., Reynolds A., Bryant J., Zillmann D. News influence on our pictures of the world. Media Effects: Advances in Theory and Research (2002) (Lawrence Erlbaum Associates, Mahwah, NJ) 1–18Google Scholar
• McCombs M. E., Shaw D. L. The agenda-setting function of mass media. Public Opinion Quart. (1972) 36(2):176–187Crossref, Google Scholar
• McLeod D. M., Kosicki G. M., McLeod J. M., Bryant J., Zillmann D. Resurveying the boundaries of political communications effects. Media Effects: Advances in Theory and Research (2002) (Lawrence Erlbaum Associates, Mahwah, NJ) 215–267Google Scholar
• Meijer M.-M., Kleinnijenhuis J. Issue news and corporate reputation: Applying the theories of agenda setting and issue ownership in the field of business communication. J. Comm. (2006) 56(3):543–559Crossref, Google Scholar
• Meyer J. W., Rowan B. Institutionalized organizations: Formal structures as myth and ceremony. Amer. J. Sociol. (1977) 83(2):340–363Crossref, Google Scholar
• Mezias S. J., Boyle E. Blind trust: Market control, legal environments, and the dynamics of competitive intensity in the early American film industry, 1893–1920. Admin. Sci. Quart. (2005) 50(1):1–34Crossref, Google Scholar
• Mohr J. W., Porac J., Ventresca M. J. Implicit terrains: Meaning, measurement, and spatial metaphors in organizational theory. Constructing Industries and Markets (2011) (Elsevier Science, London) . ForthcomingGoogle Scholar
• Mullainathan S., Shleifer A. Media bias. (2002) . NBER Working Paper W9295, Cambridge, MA. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=344879Google Scholar
• Pollock T. G., Rindova V. P. Media legitimation effects in the market for initial public offerings. Acad. Management J. (2003) 46(5):631–642Crossref, Google Scholar
• Pollock T. G., Rindova V. P., Maggitti P. G. Market watch: Information and availability cascades in the U.S. IPO market. Acad. Management J. (2008) 51(2):335–358Crossref, Google Scholar
• Pontusson J.The Limits of Social Democracy. Investment Politics in Sweden (1992) (Cornell University Press, Ithaca, NY) Google Scholar
• Rao H., Schoonhoven C. B., Romanelli E. The power of public competition: Promoting cognitive legitimacy through certification contests. The Entrepreneurship Dynamic: Origins of Entrepreneurship and the Evolution of Industries (2001) (Stanford University Press, Stanford, CA) 262–285Google Scholar
• Rao H.Market Rebels: How Activists Make or Break Radical Innovations (2009) (Princeton University Press, Princeton, NJ) Google Scholar
• Rao H., Monin P., Durand R. Institutional change in Toque Ville: Nouvelle cuisine as an identity movement in French gastronomy. Amer. J. Sociol. (2003) 108(4):795–843Crossref, Google Scholar
• Reuter J., Zitzewitz E. W. Do ads influence editors? Advertising and bias in the financial media. Quart. J. Econom. (2006) 7):197–227Crossref, Google Scholar
• Rindova V. P., Pollock T. G., Hayward M. L. A. Celebrity firms: The social construction of market popularity. Acad. Management Rev. (2006) 31(1):50–71Crossref, Google Scholar
• Rogers E. M., Bryant J., Zillmann D. Intermedia processes and powerful media effects. Media Effects: Advances in Theory and Research (2002) (Lawrence Erlbaum Associates, Mahwah, NJ) 199–214Google Scholar
• Ruef M. The emergence of organizational forms: A community ecology approach. Amer. J. Sociol. (2000) 106(3):658–714Crossref, Google Scholar
• Sahlin-Andersson K., Engwall L.The Expansion of Management Knowledge: Carriers, Flows, and Sources (2002) (Stanford University Press, Stanford, CA) Google Scholar
• Scheufele D. A. Framing as a theory of media effects. J. Comm. (1999) 49(1):103–122Crossref, Google Scholar
• Scheufele D. A., Shanahan J., Kim S.-H. Who cares about local politics? Media influences on local political involvement, issue awareness, and attitude strength. Journalism Mass Comm. Quart. (2002) 79(2):427–444Crossref, Google Scholar
• Schneiberg M. What's on the path? Path dependence, organizational diversity and the problem of institutional change in the US economy, 1900–1950. Socio-Econom. Rev. (2006) 5(1):47–80Crossref, Google Scholar
• Schneiberg M., Lounsbury M., Greenwood R., Oliver C., Sahlin K., Suddaby R. Social movements and institutional analysis. The SAGE Handbook of Organizational Institutionalism (2008) (Sage Publications, Thousand Oaks, CA) 650–672Crossref, Google Scholar
• Schneiberg M., Soule S. A., Davis G. F., McAdam D., Scott W. R. Institutionalization as a contested, multilevel process: The case of rate regulation in American fire insurance. Social Movements and Organization Theory (2005) (Cambridge University Press, Cambridge, New York) 122–160Crossref, Google Scholar
• Schudson M. How culture works: Perspectives from media studies on the efficacy of symbols. Theory Soc. (1989) 18(2):153–180Crossref, Google Scholar
• Scott W. R., Ruef M., Mendel P. J., Caronna C. A.Institutional Change and Healthcare Organizations: From Professional Dominance to Managed Care (2000) (University of Chicago Press, Chicago) Google Scholar
• Seo M.-G., Creed W. E. D. Institutional contradictions, praxis, and institutional change: A dialectical perspective. Acad. Management Rev. (2002) 27(2):222–247Crossref, Google Scholar
• Shoemaker P. J., Reese S. D.Mediating the Message: Theories of Influences on Mass Media Content (1996) (Longman, New York) Google Scholar
• Sirri E. R., Tufano P. Costly search and mutual fund flows. J. Finance (1998) 53(5):1589–1622Crossref, Google Scholar
• Slaatta T., Kjær P., Grafström M., Erkama N., Kjær P., Slaatta T. The Nordic business press and the new field of business journalism (1960–2005). Mediating Business: The Expansion of Business Journalism (2007) (Copenhagen Business School Press, Copenhagen) 35–71Google Scholar
• Srivastava R. K., Shervani T. A., Fahey L. Market-based assets and shareholder value: A framework for analysis. J. Marketing (1998) 62(1):2–18Crossref, Google Scholar
• Suddaby R., Greenwood R. Rhetorical strategies of legitimacy. Admin. Sci. Quart. (2005) 50(1):35–67Crossref, Google Scholar
• Thompson J. B.Political Scandal: Power and Visibility in the Media Age (2000) (Polity Press, Cambridge, MA) Google Scholar
• Travers J., Milgram S. An experimental study of the small world problem. Sociometry (1969) 32(4):425–443Crossref, Google Scholar
• Tuchman G.Making News: A Study in the Construction of Reality (1978) (Free Press, New York) Google Scholar
• Vaara E., Monin P. A recursive perspective on discursive legitimation and organizational action in mergers and acquisitions. Organ. Sci. (2010) 21(1):3–22Link, Google Scholar
• Warner K., Molotch H. L. Information in the marketplace: Media explanations of the '87 crash. Soc. Problems (1993) 40(2):167–188Crossref, Google Scholar
• Watts D. J., Strogatz S. H. Collective dynamics of “small-world” networks. Nature (1998) 393(6684):440–442Crossref, Google Scholar
• Wooldridge J. M.Introductory Econometrics: A Modern Approach (2003) 2nd ed.(South-Western College Publications, Cincinnati) Google Scholar
• Zbaracki M. J. The rhetoric and reality of total quality management. Admin. Sci. Quart. (1998) 43(3):602–636Crossref, Google Scholar