Institutions and the Evolution of Modern Business

Book excerpt: The papers in this volume demonstrate that it can be fruitful to apply institutional theory to business history. In addition, the volume shows that the wider study of the institutional environment is inseparable from the study of business. It is clear, however, that although 'institutionalism' in business history has a long pedigree, many areas of research and potential interaction with theory remain to be explored. The extent to which this will occur inevitably depends upon the degree to which the interests of theoreticians serve the needs of historians and vice versa.