Strategy Research on Emerging Economies: Focusing on the Institutional Theory of Strategy

Abstract

Comparing the differences between emerging and advanced economies and examining the applicability of the traditional perspectives on the strategic management (industry-based and resources-based views of strategy based on advanced economies such as the U.S.) to emerging economies, an increasing number of scholars have studied the uniqueness of emerging economies, especially in terms of strategy. This paper aims to review the strategy research on emerging economies and focuses on the institutional theory of strategy. In essence, investigating the institutional theory of strategy, this paper examines the extent to which the theories and methodologies used to study strategies in mature, advanced economies are suited to the unique social, political, and economic contexts of emerging economies. I review and integrate awide range of literature on strategy in emerging economies in order to elaborate a conceptual framework for the institutional theory of strategy particularly in connection with emerging economies.