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Exploiting the social fabric of networks: a social capital analysis of historical financial frauds
Manning, Paul
Manning, Paul
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2018-10-21
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Abstract
ABSTRACT
The article will present two strategic cases of financial fraud that
demonstrate the recurring reference points that conmen use to
facilitate their white-collar crimes. The cases are constructed from
the Ponzi and Madoff financial frauds, perpetrated by the most
well swindlers of the twentieth and (so far) twenty-first centuries.
The article will illustrate that their ‘modus operandi’ shared essential
reference points, as it owed as much to their sophisticated
socioeconomic insights and consequent exploitation of social capital
processes, as it did to their sophisticated insights into criminal
financial schemes and financial engineering.
This article will demonstrate that social relations and the
resources that inhere in these relations (social capital) can be
negative. This contribution will add to an emerging field of analysis
that considers deviant organizational behavior. For this article,
the negatives of social capital will be described as its shadow
aspect, which for financial fraud includes decision-making based
on excessive in-group trust, as well as general credulity replacing
due diligence. The article’s theoretical contribution will be to
develop understanding of historical phenomenon, in this instance
of financial fraud, with the application of the shadow side of the
social capital concept.
Citation
Manning, P. (2018). Exploiting the social fabric of networks: a social capital analysis of historical financial frauds. Management & Organizational History. 13(2), 191-211.
Publisher
Taylor & Francis
Journal
Management & Organizational History
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Article
Language
en
Description
This is an Accepted Manuscript of an article published by Taylor & Francis in Management & Organizational History on 21-10-18, available online: https://doi.org/10.1080/17449359.2018.1534595
Series/Report no.
ISSN
1744-9359
EISSN
1744-9367