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Institutional Transitions and Strategic Choices

Mike W. Peng
The Academy of Management Review
Vol. 28, No. 2 (Apr., 2003), pp. 275-296
Published by: Academy of Management
Stable URL: http://www.jstor.org/stable/30040713
Page Count: 22
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Institutional Transitions and Strategic Choices
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Abstract

How do organizations make strategic choices during the time of fundamental institutional transitions such as those sweeping numerous emerging economies? To answer this question, a two-phase model of institutional transitions is developed in this article. I focus on the longitudinal process to move from a relationship-based, personalized transaction structure calling for a network-centered strategy to a rule-based, impersonal exchange regime suggesting a market-centered strategy. I then identify the points of inflection; predict strategic choices for incumbent, entrepreneurial, and foreign firms; and delineate their performance implications.

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