This volume constitutes the first compilation of work by leading international scholars who have adopted a structural approach to the study of business. It argues that corporate behavior cannot be understood in terms of the actions of individual firms alone, and that in order to understand how businesses operate, it is necessary to explore the relationships among them. It contains position statements by leading spokespersons for the two major structural perspectives on intercorporate relations--the resource dependence and social class views; essays on markets, money, and relations between corporations and cities; analyses of business structures in Europe, Latin America, Japan and the United States; and a chapter on transnational business relations. The volume as a whole will demonstrate to a wider public the significance and value of a structural approach to business studies.

Are large American corporations politically unified or divided? This question, which has important implications for the viability of American democracy, has frustrated social scientists and political commentators for decades. Despite years of increasingly sophisticated research, resolution of the issue remains as elusive as ever. In this important new book, Mark S. Mizruchi presents and tests an original model of corporate political behavior. He argues that because the business community is characterized by both unity and conflict, the key issue is not whether business is unified but the conditions under which unity or conflict occurs. Adopting a structural model of social action, Mizruchi examines the effects of factors such as geographic proximity, common industry membership, stock ownership, interlocking directorates, and interfirm market relations on the extent to which firms behave similarly. The model is tested with data on the campaign contributions of corporate political action committees and corporate testimony before Congress. Mizruchi finds that both organizational and social network factors contribute to similar behavior and that similar behavior increases a group's likelihood of political success. This study demonstrates that rather than making their political decisions in a vacuum, firms are influenced by the social structures within which they are embedded. The results establish for the first time that the nature of relations between firms has real political consequences. The Structure of Corporate Political Action will be of interest not only to social scientists but to anyone concerned with the future of American democracy.

In the aftermath of a financial crisis marked by bank-friendly bailouts and loosening campaign finance restrictions, a chorus of critics warns that business leaders have too much influence over American politics. Mark Mizruchi worries about the ways they exert too little. The Fracturing of the American Corporate Elite advances the surprising argument that American CEOs, seemingly more powerful today than ever, have abrogated the key leadership role they once played in addressing national challenges, with grave consequences for American society. Following World War II, American business leaders observed an ethic of civic responsibility and enlightened self-interest. Steering a course of moderation and pragmatism, they accepted the legitimacy of organized labor and federal regulation of the economy and offered support, sometimes actively, as Congress passed legislation to build the interstate highway system, reduce discrimination in hiring, and provide a safety net for the elderly and needy. In the 1970s, however, faced with inflation, foreign competition, and growing public criticism, corporate leaders became increasingly confrontational with labor and government. As they succeeded in taming their opponents, business leaders paradoxically undermined their ability to act collectively. The acquisition wave of the 1980s created further pressures to focus on shareholder value and short-term gain rather than long-term problems facing their country. Today's corporate elite is a fragmented, ineffectual group that is unwilling to tackle the big issues, despite unprecedented wealth and political clout. Mizruchi's sobering assessment of the dissolution of America's business class helps explain the polarization and gridlock that stifle U.S. politics.