 The Organizational Impact of Technological Change: A Comparative Theory of National Institutional FactorsHenry W Chesbrough Industrial and Corporate Change, 1999, vol. 8, issue 3, 447-85 Abstract: This paper offers a parsimonious theory of national institutional factors that promote or inhibit the formation of start-up firms in the USA and Japan. Three factors are proposed: the technical labor market, the venture capital market and the structure of buyer-supplier ties. Complementarities between these factors cause them to work as a system, while their differences elevate or reduce the level of incentive constraints and appropriability constraints acting on incumbent and start-up firms respectively. As a result, incumbents might be displaced in an industry in one country while incumbent firms in the same industry in another country might persevere, due to the presence or absence of start-up firms. This suggests that there may be no single best way to organize for innovation in different institutional settings; rather, firms must seek to exploit the virtues of their environment, even as they act to mitigate the hazards it poses. Copyright 1999 by Oxford University Press. Date: 1999 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:oup:indcch:v:8:y:1999:i:3:p:447-85 Ordering information: This journal article can be ordered from Access Statistics for this article Industrial and Corporate Change is currently edited by Josef Chytry More articles in Industrial and Corporate Change from Oxford University Press and the Associazione ICC Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. |
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