s 1977, 1983, and 1989, to provide an indication of changes over time in the extent to which the organization is valued by Kuwaiti society.
EVALUATING THE INSTITUTIONALIZATION OF
The evaluation of the institutionalization of the Souk al Manakh is presented in two parts. In the first part of the evaluative process, evaluations in the context of each of the six evaluative factors are presented. In the second part of the evaluative process, the organization's Q scores and IQ Index numbers are developed.
3W. E. Bjur, "Taking an Institution's 'I.Q.,'" University of Southern California, School of Public Administration (unpub lished), Los Angeles, September 1989, 5.
In this section, the Souk al Manakh is evaluated in the context of the six evaluative factors included in the IQ evalu ative framework. The six elements of the evaluative framework are (1) legal legitimacy, (2) leadership charisma, (3) program autonomy and success, (4) resources and resource autonomy, (5) valuedness both internal and external, and (6) longevity in function (measured in years).
Within the IQ evaluative framework, the legal legitimacy of an organization is rated according to the following cri teria:5
1. the organization is legally tolerated; not prohi bited by law;
2. there is a law permitting organizational activities in this class; or
3. the organization is specifically chartered.
In the IQ evaluative process, each of these classifica tions is assigned a different numerical weight. Legal tolera tion of the organization in the absence of a permitting law is valued at "+1," a permitting law is valued at "+2," and char tering is valued at "+4."6
As noted in the introductory remarks to this research, the Souk al Manakh is an unofficial stock market, in which trading activities occur which are prohibited in the official Kuwaiti stock market. The Souk al Manakh is not officially recognized by the Kuwaiti government, but its activi...