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“The present paper introduces and compares two alternative perspectives on hybridity. One is the perspective of hybrids being located at the interface of dominant ‘sectors’ such as the private for-profit sector, the public sector, and the civil society or non-profit sector. The alternative perspective focuses on a combination of sector-specific governance mechanisms. The paper discusses the characteristics as well as the advantages and disadvantages of those two perspectives and what a combination of both implies for further research with an emphasis on the analysis of organizational pathologies and managerial coping.”