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Institutions, Institutional Change, Strategic Assets and Competitive Advantage of American and French Film Industries (1895-1998)

Author

Listed:
  • GHERTMAN, Michel
  • HADIDA, Allegre L.

Abstract

This paper uses neo-institutional economics (I.E.) to examine why French film production firms have lost their competitive advantage to their American competitors from 1895 to 1998. I.E. posits that major institutional changes result in changes in firms' strategic assets and strategies as well as in strategic industry factors. This causal path represents a bold shift in perspective from Industrial Organization, which considers the institutional environment as exogenous and largely beyond the reach of strategy. The same holds for the Resource-Based View. Several propositions stemming from neo-institutional economics are examined with a qualitative historical methodology. Robust evidence is provided to confirm the importance of neo-institutional explanations of strategic and industry changes over the whole period under study. However, institutions and institutional change have not been the sole drivers of industry and firms evolutions: chance (technologies and wars) and cognitive models of industry players also played their part, albeit complementary.

Suggested Citation

  • GHERTMAN, Michel & HADIDA, Allegre L., 1999. "Institutions, Institutional Change, Strategic Assets and Competitive Advantage of American and French Film Industries (1895-1998)," Les Cahiers de Recherche 669, HEC Paris.
  • Handle: RePEc:ebg:heccah:0669
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    File URL: http://www.hec.fr/var/fre/storage/original/application/63ef24a6dcd2d77c303ababc1601652a.pdf
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    References listed on IDEAS

    as
    1. Mariano Tommasi & Pablo T. Spiller, 2004. "The Institutions of Regulation," Working Papers 67, Universidad de San Andres, Departamento de Economia, revised Mar 2004.
    2. Alfred D. Chandler, 1969. "Strategy and Structure: Chapters in the History of the American Industrial Enterprise," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262530090, January.
    3. North, Douglass C, 1994. "Economic Performance through Time," American Economic Review, American Economic Association, vol. 84(3), pages 359-368, June.
    4. Henderson, Rebecca. & Cockburn, Iain., 1994. "Measuring competence? : exploring firm effects in pharmaceutical research," Working papers 3712-94., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    5. Ronald H. Coase, 2000. "The new institutional economics," Chapters,in: Institutions, Contracts and Organizations, chapter 1 Edward Elgar Publishing.
    6. Schmalensee, Richard, 1985. "Do Markets Differ Much?," American Economic Review, American Economic Association, vol. 75(3), pages 341-351, June.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    neo-institutional economics; film industry; competitive advantage; France; USA;

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media

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