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Our comparative business historical examination of industry associations aims to
enrich the under-theorized study of this distinctive type of meta-organization. We compare
two New Zealand industry associations operating in the same supply chain but with differing
degrees of associative capacity and types of external architecture. Our analysis of these
associations builds on two strands of theory that rarely communicate with each other: New
Institutional Economics (NIE) and Organizational–Institutional Theory (OIT). We
demonstrate how NIE describes the structural potentialities for associational strength, while
OIT addresses the relational context within associations. In turn, NIE’s examination of
external influences reinforces OIT suggestions that associations which are rich in social capital
can become developmental in orientation. Our historical analysis supplies fresh theoretical
insights into industry associations, thereby addressing conceptual issues of interest to
management scholars who study bridging-type organizations. On this basis, we argue that
business history and organization studies complement each other.