New Institutional Economics' contribution to strategic groups analysis

Stephane Tywoniak, Peter Galvin and Jennifer Davies
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Stephane Tywoniak: School of Management, Queensland University of Technology, GPO Box 2434, Brisbane, QLD 4001, Australia, Postal: School of Management, Queensland University of Technology, GPO Box 2434, Brisbane, QLD 4001, Australia
Peter Galvin: Graduate School of Business, Curtin University of Technology, GPO Box U1987, Perth, WA 6845, Australia, Postal: Graduate School of Business, Curtin University of Technology, GPO Box U1987, Perth, WA 6845, Australia
Jennifer Davies: Department of Management, University of Melbourne, Victoria 3010, Australia, Postal: Department of Management, University of Melbourne, Victoria 3010, Australia

Managerial and Decision Economics, 2007, vol. 28, issue 3, pages 213-228

Abstract: Rather than consider the two broad strands of strategic group research-performance-based and behavior-based studies-as competing approaches, we argue that they relate to complementary levels of analysis. We present a four-level framework for analyzing structures within industries drawn from New Institutional Economics (NIE) which covers different approaches to strategic group formation from institutional isomorphism and embeddedness through to the firm-level effects of certain resource deployments. We apply an institutional approach to a case study of the Australian banking industry and supplement this with a quantitative approach based around key strategic variables. This analysis suggests that distinct groups have emerged due to the institutional environment and the different regulatory environments experienced by various banks in the industry. Copyright © 2007 John Wiley & Sons, Ltd.

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