A meta-analysis of the exchange hazards–interfirm governance relationship: An informal institutions perspective

• DOI: 10.1057/s41267-017-0144-2
• Publication Date: 2018-02-28T07:08:57Z
• Authors: Zhi Cao; Yuan Li; Jayanth Jayaram; Yi Liu; Fabrice Lumineau
• Keywords: Uncertainty avoidance; International business

The existing literature is ambiguous on how exchange hazards influence interfirm governance. Drawing on institutional theory, this study revisits this relationship by examining the moderating effects of national culture. By meta-analyzing 167 articles involving 38,183 interfirm relationships in 35 countries, we found support for the moderating effects of three facets of national culture: collectivism, power distance, and uncertainty avoidance. We discuss the implications of the findings for theory and practice.