Publications
Publications
- 2011
Height Taken but Worth Unknown: Valuation as an Institutional Process
By: R. Daniel Wadhwani and Mukti Khaire
Abstract
Drawing on research from organizational studies, sociology, history, and anthropology, we develop a framework for understanding valuation as an institutional process in markets. We posit that three institutional elements—categories, criteria, and standards—are integral to the interpretive process of value construction that is in turn shaped by recursive interactions among actors, texts, and the social, cultural, and historical contexts that constitute markets. We also examine the conditions under which such institutions are subject to change by entrepreneurs. The paper contributes to institutional and organizational literature by theorizing how institutions shape perceptions of value and providing a framework for understanding variations in the organization of value in different markets.
Keywords
Citation
Wadhwani, R. Daniel, and Mukti Khaire. "Height Taken but Worth Unknown: Valuation as an Institutional Process." 2011.