2009
DOI: 10.1007/s10490-009-9139-2
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Varieties of Asian capitalism: Toward an institutional theory of Asian enterprise

Abstract: In this paper we respond to calls for an institution-based perspective on strategy. With its emphasis upon mimetic, coercive, and normative isomorphism, institutional theory has earned a deterministic reputation and seems an unlikely foundation on which to construct a theory of strategy. However, a second movement in institutional theory is emerging that gives greater emphasis to creativity and agency. We develop this approach by highlighting co-evolutionary processes that are shaping the varieties of capitali… Show more

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Cited by 219 publications
(176 citation statements)
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References 73 publications
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“…First, a lack of consensus continues about relevant typologies. Consequently, scholars have continued to put energy into criticizing specific typologies (Allen, 2004;Blyth, 2003), validating typologies with empirical data (Brewster, Wood, & Brookes, 2006) or extending these to new geographic contexts (Bohle & Greskovits, 2009;Carney, Gedajlovic, & Yang, 2009). Second, suitable measures of institutional diversity have limited availability.…”
Section: Introductionmentioning
confidence: 99%
“…First, a lack of consensus continues about relevant typologies. Consequently, scholars have continued to put energy into criticizing specific typologies (Allen, 2004;Blyth, 2003), validating typologies with empirical data (Brewster, Wood, & Brookes, 2006) or extending these to new geographic contexts (Bohle & Greskovits, 2009;Carney, Gedajlovic, & Yang, 2009). Second, suitable measures of institutional diversity have limited availability.…”
Section: Introductionmentioning
confidence: 99%
“…Hence they tend to enhance the performance or efficacy of the formal institutions. Helmke (Carney, Gedajlovic, & Yang, 2009a) which discusses institutional complementarities depending on the extent to which institutions (in several sectors) are compatible with one another. Liberal market economies and coordinated market economies are characterized as having high levels of complementarity with mutually supportive interconnected institutions.…”
mentioning
confidence: 99%
“…Yet three core concepts, or building blocks, of the variety found in the varieties of capitalism literature support the MD perspective in explaining institutional change within and across market places. One is the agent-driven analysis which sees firms no longer as institution takers but as agents which contribute to the generation of comparative advantages (Carney et al, 2009;Hall & Soskice, 2001;Whitley, 2007). A second building block is the notion of ongoing heterogeneity which prevails when there is a mismatch between new institutions and existing institutions.…”
Section: Discussionmentioning
confidence: 99%
“…With its focus on interaction and its functional definition of market players, the MD perspective adds new insights to the dominant approaches for explaining institutional diversity and change in China (Keister, 2009), such as the sociological power conversion approach (Nee, 1989(Nee, , 2000Walder, 2003), the comparative business system approach (Carney et al, 2009), and the institution-based view of the firm . The power conversion approach argues that members of the former socialist political and administrative nomenclatura play a major role in creating diversity and change, through the separation of political leadership (initiating institutions) and bureaucracy (implementing institutional constraints and change), and their retention of control over assets.…”
Section: Positioning Market Design In the Literaturementioning
confidence: 99%