State/
Government
|
The state or governments can fill institutional voids using regulations. |
McDermott, 2002; Stark, 1996; Fligstein; Mara-Drita, 1996;
North, 1990North, D. G. (1990). Institutions, institutional change and economic performance. Cambridge: Cambridge University Press.
|
Mair and Marti (2009)Mair, J., & Marti, I. (2009). Entrepreneurship in and around institutional voids: A case study from Bangladesh. Journal of Business Venturing, 24(5), 419-435. DOI: 10.1016/j.jbusvent.2008.04.006. https://doi.org/10.1016/j.jbusvent.2008....
|
Multinational
companies
in emerging
countries
|
In emerging countries’ markets, multinational companies are well accepted when bringing institutional elements that are missing in the local environment. |
Hoskisson, Eden, Lau and Wright, 2000; Meyer, 2004; Peng, Wang and Jiang, 2008 |
Cantwell, Dunning and Lundan (2010)Cantwell, J., Dunning, J. H., & Lundan, S. M. (2010). An evolutionary approach to understanding international business activity: The co-evolution of MNEs and the institutional environment. Journal of International Business Studies, 41(4), 567-586. DOI: 10.1057/jibs.2009.95. https://doi.org/10.1057/jibs.2009.95...
|
Family business
|
Close ties built by family businesses with stakeholders can also help to fulfill institutional voids in emerging economies. |
Miller, Lee, Chang and Le Breton-Miller, 2009Miller, D., Lee, J., Chang, S., & Le Breton-Miller, I. (2009). Filling the institutional void: The social behavior and performance of family vs non-family technology firms in emerging markets. Journal of International Business Studies, 40(5), 802-817. DOI: 10.1057/jibs.2009.11. https://doi.org/10.1057/jibs.2009.11...
|
Miller et al. (2009)Miller, D., Lee, J., Chang, S., & Le Breton-Miller, I. (2009). Filling the institutional void: The social behavior and performance of family vs non-family technology firms in emerging markets. Journal of International Business Studies, 40(5), 802-817. DOI: 10.1057/jibs.2009.11. https://doi.org/10.1057/jibs.2009.11...
|
Business groups
|
Business groups take advantage of voids left by the missing institutions, filling it through product, capital and labor markets. |
Khanna and Rivkin, 2001Khanna, T., & Palepu, K. (2000). The future of business groups in emerging markets: Long-run evidence from Chile. Academy of Management Journal, 43(3), 268-285.; Khanna and Palepu, 2000Khanna, T., & Palepu, K. (2000). The future of business groups in emerging markets: Long-run evidence from Chile. Academy of Management Journal, 43(3), 268-285.; Leff, 1978 |
Mair and Marti (2009)Mair, J., & Marti, I. (2009). Entrepreneurship in and around institutional voids: A case study from Bangladesh. Journal of Business Venturing, 24(5), 419-435. DOI: 10.1016/j.jbusvent.2008.04.006. https://doi.org/10.1016/j.jbusvent.2008....
; Khanna and Palepu (2000)Khanna, T., & Palepu, K. (2000). The future of business groups in emerging markets: Long-run evidence from Chile. Academy of Management Journal, 43(3), 268-285.
|
Diverse set of actors
|
A diverse set of actors that are experimenting with new and often provisional market institutional arrangements to fill institutional voids, e.g. social movement, publicprivate organizations, religious organizations. |
Mc Dermott, 2007 |
Mair and Marti (2009)Mair, J., & Marti, I. (2009). Entrepreneurship in and around institutional voids: A case study from Bangladesh. Journal of Business Venturing, 24(5), 419-435. DOI: 10.1016/j.jbusvent.2008.04.006. https://doi.org/10.1016/j.jbusvent.2008....
|
Informal institutions
|
Economies in transition are often characterized by underdeveloped formal institutions, often resulting in an unstable environment and creating a void usually filled by informal institutions. |
Puffer et al., 2010Puffer, S. M., McCarthy, D. J., & Boisot, M. (2010). Entrepreneurship in Russia and China: The impact of formal institutional voids. Entrepreneurship Theory and Practice, 34(3), 441-467. DOI: 10.1111/j.1540-6520.2009.00353.x. https://doi.org/10.1111/j.1540-6520.2009...
|
Puffer et al. 2010)Puffer, S. M., McCarthy, D. J., & Boisot, M. (2010). Entrepreneurship in Russia and China: The impact of formal institutional voids. Entrepreneurship Theory and Practice, 34(3), 441-467. DOI: 10.1111/j.1540-6520.2009.00353.x. https://doi.org/10.1111/j.1540-6520.2009...
|
Social entrepreneur
|
For these entrepreneurs markets are not an end in themselves or a means to appropriate value; markets are viewed as an important social structure and a mechanism to foster social and economic development. |
Mair and Marti, 2009Mair, J., & Marti, I. (2009). Entrepreneurship in and around institutional voids: A case study from Bangladesh. Journal of Business Venturing, 24(5), 419-435. DOI: 10.1016/j.jbusvent.2008.04.006. https://doi.org/10.1016/j.jbusvent.2008....
|
Mair and Marti (2009, p. 422)Mair, J., & Marti, I. (2009). Entrepreneurship in and around institutional voids: A case study from Bangladesh. Journal of Business Venturing, 24(5), 419-435. DOI: 10.1016/j.jbusvent.2008.04.006. https://doi.org/10.1016/j.jbusvent.2008....
|
Clusters
|
Institutional voids affect the competitiveness of SMEs existing in transition economies. Cluster services can be effective measure to bridge these voids. |
Schrammel, 2014Schrammel, T. (2014). Clusters as an instrument to bridge institutional voids in transition economies. Passau, Germany: Springer Gabler.
|
Schrammel (2014)Schrammel, T. (2014). Clusters as an instrument to bridge institutional voids in transition economies. Passau, Germany: Springer Gabler.
|