Managerial agency, risk, and strategic posture: Nonmarket strategies in the transitional core and periphery

Yusaf H. Akbar and Maciej Kisilowski

International Business Review, 2015, vol. 24, issue 6, 984-996

Abstract: Why do nonmarket strategies of businesses in peripheral economies of Eastern Europe and Central Asian (EECA) differ from those in post-socialist member states of the European Union? This paper suggests an explanation, by offering three advances in our theoretical understanding of the problem. First, we develop a focus on managerial agency in a nonmarket strategic process. Second, we disentangle two distinct features of nonmarket strategies: the firm's strategic posture vis-á-vis the external environment and the level of nonmarket risk associated with a particular strategy. Third, we draw upon a broader array of business actors, paying attention to both multinational and local firms. The resulting enriched framework is applied in an exploratory study of the differences in nonmarket strategies between peripheral and core EECA economies. Using original qualitative data, we develop theoretical propositions linking heterogeneity of nonmarket strategies to the levels of political-economic institutionalization of various EECA markets.

Keywords: Central Asia; Eastern Europe; Emerging economies; Managerial agency; Nonmarket risk; Nonmarket strategy; Strategic posture; Transitional economies (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:iburev:v:24:y:2015:i:6:p:984-996

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DOI: 10.1016/j.ibusrev.2015.03.006

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