Local vs. non-local institutional embeddedness, corporate entrepreneurship, and firm performance in a transitional economy

Abstract

Previous studies have examined performance implications of institutional network for firms in large complex transition economies. However, these studies are silent on the underlying mechanisms through which embeddedness in such network is translated into firm performance. To fill this gap, we propose that corporate entrepreneurship (CE) (i.e. innovation and corporate venturing) can be viewed as a dynamic capability. Then, we argue that CE integrates institutional capital derived from institutional network with other internal and external organisational resources to create new resources and capabilities that respond to changing opportunities and challenges in the environment, thereby promoting performance outcomes. Based upon a sample of firms in China, our results support these arguments.

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