This research project investigates the coevolution of networks and behavior i.e. how does behavior change network structure, and how does the network structure, in turn, change behavior. For example, smokers tend to become friends, and those who are friends with smokers, tend to also smoke (Snidjers 1997). Therefore, birds of a feather flock together, and those who flock together become even more similar over time. In the field of management, significant attention has been paid to how adoption of new innovations is influenced by intercorporate ties (example, Briscoe et al., 2008; Davis, 1991), but almost no attention has been paid to how changes in behavior affects the intercorporate network. We propose to focus on the coevolution of behavior and networks in the context of investment bank networks and the adoption of multiple bookrunners in IPO deals.