“…Hence, for a precise understanding of what institutions are, distinguishing between formal institutions, informal institutions, and actual practices (Jones & Murphy, 2010) and clarifying their relationships is necessary. For the purposes of this paper, I adopt a working definition of institutions that reverts to North's 'rules of the game' (North, 1990, p. 3) that can be either formal/explicit or informal/tacit (Hodgson, 2006) but have to be accepted by agents as social guidelines for appropriate and legitimate behaviour (Bathelt & Glückler, 2014;Lenz & Glückler, 2021;Oliver, 1992;Scott, 2014;Streeck & Thelen, 2005) in the sense of being 'templates for action' (Lawrence et al, 2009, p. 7), even if they are not currently practiced. Following North's (1990, p. 4) characterization of organizations as 'players' and consistently with Bathelt and Glückler (2014), organizations are not covered by this working definition of institutions (see also Glückler & Lenz, 2016;Zukauskaite et al, 2017).…”