Reputation management as an interplay of structure and agency: A strategic-relational approach

Reputation scholars in the field of regulation tend to focus on the strategic nature—or: “agency”—of reputation management. We know fairly little about the precise nature of the dynamics and conflicts between structural and agential factors that are experienced by regulators in practice, and how these dynamics impact reputation management and its outcomes. This study addresses these questions, using conceptual language from the strategic-relational approach to study the reputation management of the Belgian financial regulator during an event of high reputational salience: the global financial crisis. The results present an image of a regulator as a strategic actor who—either consciously or more intuitively—calculated its possible moves in light of a strategically selective context (which, in turn, was constantly evolving as a result of strategic actions). This contributes to a more complex and behaviorally realistic understanding of regulatory reputation management.