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Purpose-The paper aims to refine conceptual treatment of the social facet in business relationships and reinforce its significance in the IMP research tradition by integrating the concept of social capital in its original interpretation into the ARA model. Design/methodology/approach-The paper begins by indicating some typical conceptual challenges associated with application of social capital in IMP. This is followed by a conceptual clarification that explores the origin and the essence of social capital in economic sociology. Finally, the paper proposes integrating social capital in its original interpretation into IMP's ARA model and presents four propositions on how social capital is created in interaction between business actors. Research limitations/implications-The paper is expected to aid IMP researchers in empirical contexts where the social component in business relationships is particularly prominent. As such, the novel approach presented could be used to further understand how social exchange processes are related to relationship governance, relationship initiation and development. Findings-The paper shows how bridging Bourdieu's theory of social capital with the IMP approach may solve the identified conceptual challenges. This paper's main contribution is a cyclical model depicting how social capital is created in business networks. It is integrated into the ARA model and designed specifically for studying the social facet of business relationships. Originality/value-The proposed model shows how social capital is generated through the dynamic interplay in the social facets of actor, activity and resource dimensions, emphasising its creation dynamics. The model integrates insights from the classic works in economic sociology to strengthen the social side of IMP's socioeconomic interface and is intended to be used as a tool for empirical application.

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Purpose – The purpose of this paper is to discuss the link between economic thinking and public policy, two ways of promoting innovation are reviewed – competition and interaction. The competition perspective is illustrated by Schumpeterian-inspired growth economics, while the role of inter-organisational interaction is shown by the industrial network theory. Design/methodology/approach – The construction sector is used as an example of a politically critiqued industry regarding low innovativeness and productivity, through which the two different views are outlined and compared. The main differences of these two perspectives are outlined as: the organisational unit of analysis (the firm vs the relationship and network), how knowledge is created and spread (exogenous vs endogenous to economic exchange), and the value-creation processes (internal vs external focus). Findings – The two views are essential different and therefore should cancel each other out if implemented simultaneously. Consequently, a conscious choice as to which view should be used within a public policy for promoting innovation must be made. It is concluded that, while both types of economic thinking can be used to promote innovation in this industry, a fundamental difference could arise if construction firms continue to pursue mainly competitive strategies at the expense of addressing its interactional problems. Practical implications – Finally, a set of questions that policymakers need to consider in relation to the three fundamental issues addressed above is discussed. Originality/value – The paper adds to the discussion of how to increase the innovativeness in the construction industry in a novel way by comparing two distinctly different theoretical perspectives on how this is best handled.

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Purpose Most scholars acknowledge the role of firm-stakeholder relationship for enabling corporate sustainability (CS), but existing literature tends to apply a superficial understanding of interaction. Thus, the purpose of this paper is to advance knowledge by challenging classical stakeholder theory with fundamental insights from the IMP perspective, which in turn leads to a deeper conceptualization of interactive CS. Design/methodology/approach A typology framework is developed through an abductive research design grounded in the concepts of actors, resources, and activities. The authors illustrate the potential of the framework through a longitudinal case study. The empirical case revolves around an initiative for recycling of plastic material in a partly beforehand established supply chain, and the study reveals three main findings. Findings First, recycling solutions can result in major technological challenges. For example, using recycled material can jeopardize industrial quality standards. Second, third-party stakeholders represent critical knowledge and competence that can remedy technological challenges. Finally, R&D projects are important means for developing firm-stakeholder relationships. Research limitations/implications The paper introduces IMP concepts to the CS debate, which can illuminate the emerging literature on tensions and paradoxes related to CS phenomena. Further research is needed on the role of non-business actors as capacity generators for social and environmental change in traditional business networks. Practical implications The proposed framework can be used to analyze why some stakeholders (individuals and groups) turn into contributing actors in inter-organizational relationships, while others remain latent. Originality/value This paper illustrates the usefulness of actor bonds, resource ties and activity links as explanatory concepts. Moreover, developed relationships in terms of collaboration and networks represent a capacity to change, which is overlooked in current CS debates.