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Social Network Ties and Symbolic Management

In this chapter we examine social network ties among firm leaders as a key determinant of symbolic management. After reviewing extant theory about the role of board interlock ties in symbolic management, we explain how other kinds of ties between firm leaders facilitate various forms of symbolic action and decoupling, including (1) director ties between informal groups of firm leaders, (2) social exchange ties between leaders, (3) personal friendship ties between leaders, and (4) mutual ties to management consultants. In suggesting how network ties facilitate decoupling, we also reveal a separation between appearances and reality with respect to the social structure of corporate leadership, wherein corporate stakeholders tend to underestimate the prevalence of social connections among firm leaders, and the resulting frequency of leader communication, cooperation, and collusion.