Pecuniary externalities are crucial in shaping the strategies to value the distinctivecompetences and the economic success of innovative firms. The analysis of conditions forlocalized knowledge appropriation and exploitation makes it possible to identify idiosyncratic production factors....

We consider an industry where one firm with a superior technology competes for market shares with several rivals. The owner of the superior technology (the dominant firm) can license or transfer the source of its dominance to a subset of rivals. Allowing the non-license takers to remain active...

This article uncovers the role of financial clustering in creating competitive advantage forincumbents in the Singapore Financial Centre. The revelatory case of the underresearchedSingapore cluster reveals (a) how clustering conditions have influenced thedevelopment of the City as a financial...

This paper investigates empirically the strategic alignment between innovation andproduction strategies in a sample of service firms in Spain. It employs the integratedarchetypes approach to analyse a dataset of unique, manually collected, firm responses....

Recent changes in the funding and governance of research universities have attempted tomake them more strategically active in contributing to national goals. However, the ability ofuniversities to develop strategic capabilities as cohesive organisations is limited by the inherentuncertainty of...

This paper explores the sources of agglomeration externalities in enhancing firmperformance, in particular, the pecuniary externality that supports firms’ bottom line.The fundamental argument on increasing returns leads to the premise that cluster sizehas beneficial influence to firm...

This paper investigates how firms adapt their innovation strategies to cope with constraints in national institutional environments. It is a comparative case study of Dutch and British dedicated biotechnology firms focusing on a particular type of strategy, the hybrid model. Patterns of skill...

Much recent work on firms' capabilities and competitive competences builds on Penrose's (1959) seminal contribution to the theory of the firm in emphasising their organisational nature, and the critical role of managerial routines in transforming resources into distinctive services (see, e.g....

Recent studies of sectoral specialisation and technological development across market economies have shown how contrasting patterns of technical change can be explained by the different institutional frameworks that have become established in distinct types of economy (see, e.g., Casper, 2000;...

The sweeping political changes and institutional transformation in the former Soviet Union, together with the market shock created by the collapse of the Soviet economy were expected to generate substantial changes in firm behaviours. Privatisation, in particular, was thought to constitute the...