Asset modification for regional industrial restructuring: digitalization of the culture and experience industry and the healthcare sector

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ABSTRACT This paper researches how firm- and system-level asset modification and alignment underpin and direct new path development from digitalization. It suggests that asset reuse mostly promotes path extension or path upgrading, while asset creation and asset destruction will be more evident in the process of path emergence. The empirics support asset modification as a key mechanism for regional restructuring from digitalization, but suggest that the typology should be more nuanced. Specifically, the empirics demonstrate asset upgrading as a key mechanism.