Recombinant Property in East European Capitalism
Recombinant Property in East European Capitalism
Recombinant property is a form of organizational hedging, or portfolio management, in which actors respond to uncertainty in the organizational environment by diversifying their assets, and redefining and recombining resources. It is an attempt to hold resources that can be justified or assessed by more than one standard of measure. This chapter investigates the recombinatory logic of organizational innovation in the restructuring of property relations in Hungary. It asks: are the recombinant processes resulting in a new type of mixed economy as a distinctively East European capitalism? It also looks into the decentralized reorganization of assets. The last section considers three aspects of recombinant property in terms of three underlying concepts — mixture, diversity, and complexity.
Keywords: recombinant property, portfolio management, Hungary, diversity, complexity, property relations, mixed economy, East European capitalism
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