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

  • GHERTMAN, Michel
  • HADIDA, Allegre L.
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    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.

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    File URL: http://www.hec.fr/var/fre/storage/original/application/63ef24a6dcd2d77c303ababc1601652a.pdf
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    Paper provided by HEC Paris in its series Les Cahiers de Recherche with number 669.

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    Length: 31 pages
    Date of creation: 01 Jun 1999
    Date of revision:
    Handle: RePEc:ebg:heccah:0669
    Contact details of provider: Postal: HEC Paris, 78351 Jouy-en-Josas cedex, France
    Web page: http://www.hec.fr/

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    1. North, Douglass C., 1993. "Economic Performance through Time," Nobel Prize in Economics documents 1993-2, Nobel Prize Committee.
    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, June.
    3. 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.
    4. Mariano Tommasi & Pablo T. Spiller, 2004. "The Institutions of Regulation," Working Papers 67, Universidad de San Andres, Departamento de Economia, revised Mar 2004.
    5. Schmalensee, Richard, 1985. "Do Markets Differ Much?," American Economic Review, American Economic Association, vol. 75(3), pages 341-51, June.
    6. Coase, Ronald, 1998. "The New Institutional Economics," American Economic Review, American Economic Association, vol. 88(2), pages 72-74, May.
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