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From Relational Stability to Network Resilience: Annual Negotiated versus Competitive Municipal Bond-Issuing Networks

Kun Huang et al.

American Review of Public Administration2025https://doi.org/10.1177/02750740251346808article
AJG 3ABDC B
Weight
0.37

Abstract

While the public contracting literature has explored the advantages and limitations of competitive versus relational/collaborative contracting ties, network research focuses on how structural characteristics influence a network's stability and ability to withstand environmental disruptions. However, little scholarship examines how collaborative versus competitive ties affect network stability and resilience to environmental shocks. This study addresses this gap by exploring the impacts of relationships of different natures (collaborative versus competitive) on network stability and resilience. Drawing on theories of relational embeddedness and network resilience, we compare annual networks formed by bond underwriters and financial advisors in negotiated (collaborative) versus competitive relationships from 2000 to 2015, analyzing California's municipal bond primary market before and after the 2008 Great Recession. The empirical results reveal that negotiated networks display higher stability, and faster recovery compared to competitive networks. Based on our findings, we develop a model of network resilience to systemic shock, highlighting the resilience of collaboration-oriented networks over efficiency-oriented networks in responding to systemic shocks.

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https://doi.org/https://doi.org/10.1177/02750740251346808

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@article{kun2025,
  title        = {{From Relational Stability to Network Resilience: Annual Negotiated versus Competitive Municipal Bond-Issuing Networks}},
  author       = {Kun Huang et al.},
  journal      = {American Review of Public Administration},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1177/02750740251346808},
}

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Evidence weight

0.37

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.16 × 0.4 = 0.06
M · momentum0.53 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.