Ian Macneil and relational contract theory: evidence of impact

Abstract

Purpose – This paper seeks to describe the work of Ian Macneil, a legal scholar advocating the use of relational contract theory and behavioral norms to evaluate exchange relations in business. The aim is to show through bibliometric and comparative analyses that Macneil has influenced management scholarship and dialogue about relational contract theory to an extent not recognized by management scholars. Design/methodology/approach – Evidence of impact is evaluated through a bibliometric analysis of primary and secondary citations. This is followed by a comparison of Macneil's theory with four theories – integrated social contract theory, stakeholder theory, transaction cost theory, and rational choice theory. Findings – Results indicate that Macneil has had a substantial impact on researchers working in different business disciplines, from marketing to economics and management. Bibliometric analysis reveals that his work is widely cited, suggesting that Macneil's contribution extends beyond legal scholarship to influence business scholarship. Research limitations/implications – Implications are that Macneil's relational contract theory should be considered when developing frameworks for guiding research on workplaces that are increasingly relational, connected and global. This is especially relevant in cases where workplace exchange appears on the surface to be non-contractual and based on societal customs and norms. Originality/value – This paper recognizes the work of a major legal scholar in the formulation and discussion of relational contract theory in business scholarship. It introduces concepts that can support and act as a guide for future research on forms of relational exchange and recognizes the importance of Ian Macneil's work in supporting that research stream.

How Do Relational Contracting Norms Affect IPD Teamwork Effectiveness? A Social Capital Perspective

“…In true relational agreements, the expectation is that contracting parties will strive to overcome their tendency toward self-interest to achieve overall project goals rather than individual goals (Macneil, 1980). Propriety of means is an expectation that the contracting organizations possess adequate means to perform their obligations, which indicates that social relations are governed by accepted principles (Blois, 2002;Macneil, 1986Macneil, , 2000McLaughlin et al, 2014). Various options and methods may be available to a contracting organization to fulfill a commitment, but only a few of them may provide positive results for both the project and all the contracting organizations (Macneil, 1986).…”

“…According to the relational contract theory developed by Macneil (1980Macneil ( , 1986, RC norms refer to a series of informal norms shared among contracting parties. RC norms aim at regulating the parties' behaviors and preserving the continuation of the partnership based on the expectation of future cooperation and the consensus of mutual benefits (Macneil, 1980;McLaughlin et al, 2014;Memon et al, 2015). Most prior studies have explored the influence of RC norms on construction project outcomes from a relational governance perspective.…”

“…RC norms are generally considered to be rooted in social exchanges and networks (Granovetter, 1985;McLaughlin et al, 2014;. Social capital (SC) refers to a set of intangible valuable resources embedded in social networks that benefit the actors during the process of social exchange (Bourdieu, 1986).…”

Smart Contracting: A Multidisciplinary and Proactive Approach for the EU Digital Single Market

“…The social and technical systems, however, do not align smoothly. For example, despite the welcoming reception management scholars have given to relational ideas (McLaughlin et al, 2014), the implementation of this perspective still faces strong institutional challenges. This is the background to the proposal made in this paper about the value of SC during transitions, and the applicability of the approach to any legally relevant exchange, especially suitable in mediatized trade interactions and organizational digital strategies.…”

“…This last feature reinforces the relational paradigm and opens up opportunities for innovation and cross-disciplinary exploration about information architecture in contracts, and contracting as knowledge management system. Macneil's general theory is said to have swept the contracting field in legal scholarship and added new dimensions to business studies, with strong impact on the evolution of organizational thought (McLaughlin et al, 2014). …”