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The institution-based view of strategy How to measure it.pdf
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2RQ Business Research Quarterly (2014) 17, 82--101
BRQBusiness ResearchQuarterly
www.elsevier.es/brq
RTICLE
he institution-based view of strategy: How to
easure it
lisabet Garridoa,?, Jaime Gomezb, Juan P. Maicasc, Raquel Orcosd
Universidad de Zaragoza, Violante de Hungría, 23, Zaragoza, Spain
Universidad de La Rioja, Cigüen?a 60, Logron?o, Spain
Universidad de Zaragoza, Gran Via 2, Zaragoza, Spain
CEU San Pablo, Julián Romea, 23, Madrid, Spain
eceived 14 October 2012; accepted 8 November 2013
vailable online 29 March 2014
JEL
CLASSIFICATION
M10
KEYWORDS
Institution-based
view;
Formal institutions;
Abstract The institution-based view of strategy has emerged as a leading perspective in Strate-
gic Management. It incorporates the institutional dimension when offering relevant answers to
the fundamental questions of strategy. One of the challenges of this perspective is to develop
stronger measures of institutions (Peng et al., 2009). This paper seeks to contribute in this
direction by offering a detailed analysis of the main measures of institutions that previous
works in Strategic Management have used. Our aim is to offer a guide that will help researchers
to decide how they should incorporate the institutional dimension into their empirical work.
? 2012 ACEDE. Published by Elsevier Espa?a, S.L. All rights reserved.Informal institutions;
Institutional
q
y
t
t
t
smeasures
ntroduction
he field of Strategic Management has been traditionally
overned by two big paradigms. While the 1980s were char-
cterized by the dominance of the industry-based view
Porter, 1980), the 1990s were clearly the decade of the
esource-based view of the firm (Barney, 1991). In recent
ecades, the two perspectives have moved like swings of a
endulum in the search
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