The Contingent Nature of Public Policy and the Growth of U.S. Commercial Banking
研究了1896-1978年间美国公共政策如何与技术、经济和文化环境相互作用，影响商业银行的集中或分散增长策略选择。
That public policy affects organizational behaviors is well accepted, but less explored is how these effects may depend on other external environmental factors. We investigated policy as a necessary, but not sufficient, condition for understanding the growth of commercial banking in the United States, 1896–1978. We highlight a trade-off for banks between centralized and dispersed growth strategies and show that which strategy prevails depends on how policy enabling branching interacts with technological, economic, and cultural environments. Our findings contribute to understanding the contingent effects of policy on organizations and on the growth of large corporations in the 20th century.