publication . Article . 1999

The Organizational Impact of Technological Change: A Comparative Theory of National Institutional Factors

Henry Chesbrough;
  • Published: 01 Sep 1999 Journal: Industrial and Corporate Change, volume 8, pages 447-485 (eissn: 1464-3650, Copyright policy)
  • Publisher: Oxford University Press (OUP)
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 ...
free text keywords: Exploit, Organizational impact, Economics, Economic system, Incentive, Technological change, Market economy, Venture capital
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