Informal institutions and firm innovation in emerging economies. Examining the substitutive versus complementary role of informal institutions in firm innovation.
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2019-07-11
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en
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Abstract
Through a quantitative analysis that employs principal component analyses initially, a multiple stepwise regression subsequently and a heteroscedasticity-robust standard error regression finally, this study explores the relationship between firm-level resources, formal institutions, informal institutions and economy type on firm innovation. The Institutional Profiles Database 2016 and company data extracted from the Orbis database are used to perform the analyses. The purpose of this study was to examine how high innovation levels in emerging economies can be explained through resources and institutions. Moreover, a distinction was made between advanced emerging economies and secondary emerging economies. The analysis included data from 10 advanced emerging economies and 14 secondary emerging economies. By constructing component scores on formal institutions and informal institutions, scores on the institutional quality in a certain country could be linked to company data. Hence, country-level data could be linked to company-level data.
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Faculteit der Managementwetenschappen