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Institutional Capital: Competitive Advantage In Light Of The N Ew Institutionalism In Organization Theory

Rudi K. F. Bresser and Klemens Millonig

Schmalenbach Business Review (sbr), 2003, vol. 55, issue 3, 220–241

Abstract: Neoinstitutional organization theory contains an important message for strategic management: A firm’s existence and competitive advantage is strongly affected by its institutional environment. However, the strategic management literature disregards the role of the institutional environment when modeling competitive advantage. This paper develops an integrative model of competitive advantage that draws on prevailing concepts in strategic management and neoinstitutional theory. The model distinguishes three types of institutional capital: cognitive, normative, and regulative capital. The implications for generating and managing institutional capital are discussed.

Keywords: Competitive Advantage; Institutional Capital; Neoinstitutional Organization Theory; Strategic Management (search for similar items in EconPapers)
JEL-codes: A1 L1 M1 (search for similar items in EconPapers)
Date: 2003
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