Cultural and Sociological Perspectives Contributions (i)supporting particular kinds of institutions (ii)high cultural distance is sometimes argued to crowd out or impair the implementation of some types of formal organization (iii)a functional substitute in filling "institutional voids"characterized by "the absence of specialist intermediaries,regulatory systems,and contract-enforcing mechanisms" (iv)an important variable in studying the diffusion of governance practices across countries GROUP 10GROUP 10 vContributions (i) supporting particular kinds of institutions (ii) high cultural distance is sometimes argued to crowd out or impair the implementation of some types of formal organization (iii) a functional substitute in filling “institutional voids” characterized by “the absence of specialist intermediaries, regulatory systems, and contract-enforcing mechanisms” (iv) an important variable in studying the diffusion of governance practices across countries Cultural and Sociological Perspectives