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Deregulation and differentiation: Incumbent investment in green technologies

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  • Eun‐Hee Kim

Abstract

Integrating elements from industrial organization economics and the resource‐based view—coupled with path dependence as firm resources evolve over time, this paper suggests that deregulation may not always provide greater opportunities for incumbents, and the extent to which incumbents differentiate on the green dimension may be constrained by their prior resources, in particular, capabilities with respect to brown technologies and experiences with green technologies. Using data on U.S. investor‐owned electric utilities from 1992 to 2008, this paper finds that deregulation is associated with lower entry into the renewable generation market by incumbents compared to regulation. More capable firms using brown technologies, for example, coal‐based generation, are less likely to enter the renewable generation market. Also, incumbents are responsive to actual, not latent, demand for renewable energy. Copyright © 2013 John Wiley & Sons, Ltd.

Suggested Citation

  • Eun‐Hee Kim, 2013. "Deregulation and differentiation: Incumbent investment in green technologies," Strategic Management Journal, Wiley Blackwell, vol. 34(10), pages 1162-1185, October.
    • Handle: RePEc:bla:stratm:v:34:y:2013:i:10:p:1162-1185
    DOI: 10.1002/smj.2067
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    Cited by:

    1. Florian Platzek & Anna-Karina Schmitz & Martin Fassnacht & Emily Waltermann, 2025. "The Yin and Yang of brand portfolio transformations: how conscientious “lighthouse brands” drive sustainability in organisations," Journal of Brand Management, Palgrave Macmillan, vol. 32(5), pages 400-417, September.
    2. Dao, Thuy & Awijen, Haithem & Ahmed, Rizwan & Ameur, Hachmi Ben, 2025. "Understanding energy security in geopolitical contexts: Insights from decomposing energy diversification indexes," Energy Economics, Elsevier, vol. 152(C).
    3. Di Zhu & Xiao Zhang & Jie Wang, 2025. "Digital orientation and analyst recommendations: Evidence from China," Asia Pacific Journal of Management, Springer, vol. 42(3), pages 1683-1716, September.
    4. Huang, Zhen & Dou, Tianyu, 2026. "The spillover effect of customer extreme climate risk: Evidence from supplier trade credit," The North American Journal of Economics and Finance, Elsevier, vol. 81(C).
    5. Buhari Doğan & Mohammad Razib Hossain & Rabeh Khalfaoui & Abdelmohsen A. Nassani & Sudeshna Ghosh, 2026. "Navigating Chinese green deals through green investment, green technology, and green energy development: a race for sustainability or greenwashing?," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 12(1), pages 1-29, December.

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