Research Seminar Series: Professor Andrew Foley

Dear Academic and Corporate Peers,

We are thrilled to invite you to the upcoming session of the Research Seminar Series at the Asia School of Business, featuring Professor Andrew Foley.

Seminar Title: Balancing the Ties that Intertwine: Balancing Multiplex Market Exchanges in Village Economies

Event Details:

📅 Date: 26 May 2026

⏰ Time: 12:30 PM – 1:30 PM

📍Venue: CR-W2-04

💻 Zoom Details :

https://asb-my.zoom.us/j/93465287454?pwd=MuTZqA05z5yq9WIiXrK3sp5m9zbcL1.1

Meeting ID: 934 6528 7454

Passcode: 339031

Abstract

Exchange relations tend toward balance: actors seek to repay the kindness of others and avoid prolonged indebtedness. Prior research, however, has largely examined balance in uniplex relations - those structured around a single type of exchange – leaving unclear whether and how balance is achieved in multiplex relations, where transactions span multiple, normatively distinct exchanges. We examine this question in the context of village economies, where households operate simultaneously as economic and social actors. Using data on 5,343 exchange dyads among 690 household organizations across 16 village economies in Thailand, we analyze how actors balance obligations across four types of exchange: goods, hired labor, gifts, and assistance in the form of free labor. The analysis shows that households routinely settle economic debts with personal obligations and resolve personal obligations through economic generosity. More fundamentally, our results are consistent with a two-stage model of exchange in multiplex markets: when two transactions within a multiplex market relation are governed by the same norms of exchange (economic or social), those norms determine whether excess giving in one exchange is used to offset deficits in another. By contrast, when exchanges span domains (e.g. one economic, one social), the attributes of the resource being traded govern balancing behavior: imbalances tend to propagate across exchange domains when both involve particularistic resources but tend to offset each other when the resources involved are universalistic. Implications for exchange theory in the context of multiplex markets more broadly are discussed.

Speaker’s Bio

Andrew Foley is an Assistant Professor of Management & Organizations at the New York University Stern School of Business and a Faculty Fellow at the Cornell University Johnson Graduate School of Management. His research focuses on entrepreneurship, family business, social networks, and social capital, with particular interest in how relationships and organizational structures shape entrepreneurial outcomes.

He earned his PhD in Management & Organizations from Cornell University, with a minor in Applied Statistics, and previously completed an MBA at Asia School of Business in collaboration with MIT Sloan. His work has been presented at leading international conferences, including the Academy of Management and EGOS, and published or under review in top management journals such as Organization Science and Management Science. Andrew has also received several research awards and recognitions, including a nomination for Best Entrepreneurship Paper at the Academy of Management Annual Meeting.

We look forward to your participation in this insightful research seminar.

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