Building on a historical case study on the first two stock exchanges to adopt the now globally dominant for-profit organizational form, the Stockholm Stock Exchange in 1993 and the Helsinki Stock Exchange in 1995, we argue that interaction among socially proximate peers contributes to pioneering organizational form adoption within an industry, particularly when such forms are introduced by established organizations. Peer interaction can induce a search for technically efficient organizational forms through the sharing of collective experiences, the establishment of collective assumptions, and a joint search for solutions. Together, these factors contribute to the legitimization of novel organizational forms in the local setting before the adoption of the first instantiation of those forms. We propose a context-sensitive multilevel model of peer-interaction-induced pioneering organizational form adoption that considers shared macro environmental drivers, idiosyncratic local environmental drivers, and peer interaction as central social mediators between the two.

基于对采用现在全球主导的营利性组织形式的前两个证券交易所的历史案例研究，1993 年的斯德哥尔摩证券交易所和 1995 年的赫尔辛基证券交易所，我们认为社会上最接近的同行之间的互动有助于开创性的组织形式在行业内采用表格，特别是当此类表格由已建立的组织引入时。同伴互动可以通过共享集体经验、建立集体假设和共同寻求解决方案，促使人们寻求技术上有效的组织形式。在采用这些形式的第一次实例化之前，这些因素共同促成了当地环境中新组织形式的合法化。