Hybrid Forms and the Evolution of Thrifts

This article assesses the role of hybrid organizational forms in the coevolution of institutions and organizations. The hybrids the authors study combined elements of one basic plan with another; they developed because blending mechanisms between organizational forms were stronger than segregating mechanisms. The existence of hybrids allowed elements of one theory of thrift, embodied in one organizational form, to be slowly dismantled and elements of a new theory, embodied in a different organizational form, to be established gradually rather than abruptly. Thus, the presence of hybrid forms in this organizational population affected both the mode and pace of organizational and institutional coevolution.