publication . Article . 1999

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

H. Chesbrough;
Open Access
  • Published: 01 Sep 1999 Journal: SSRN Electronic Journal (eissn: 1556-5068, Copyright policy)
  • Publisher: Elsevier BV
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 ...
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