Abstract
Institutional systems exert important influences on firms’ development of innova-tive capabilities. This article examines studies of firms’ innovative competencieswithinthecomparativecapitalisms(CC)literature.Thisresearchprovidestheoretic-allysophisticatedassessmentsoffirms’innovativecapabilitiesindifferentcountries.Ittakesintoconsiderationarangeofinstitutionalareas,suchascorporategovern-ance and labour market regimes. However, CC studies differ significantly alongthree key analytical dimensions. First, some studies focus more extensively onfirms and firms’ objectives than others. Second, research examines institutions atthemacro,mesoandmicrolevelstovaryingdegrees.Finally,studiesadoptdifferentassumptions on the variability and dynamism of a firm’s institutional setting; suchvariabilitycanincludetheimportanceofforeigninstitutionalresourcestofirms’in-novativecapabilities.FutureCCresearchshouldpaygreaterattentiontotheorizingfirms’innovation-relatedrequirementsanddetailingtheirspecificinstitutionalset-tings, including their access to domestic and foreign institutional resources. Con-cepts and insights from the wider innovation and international businessliteratures can help achieve these objectives. By drawing on these related fields,CC studies of innovative capabilities will be able to assess in theoretically robustwaysthechallengesthatinternationalizationandwhatthisarticlecalls‘institutionaloutsourcing’pose for analysts and firms.Keywords: Innovative capabilities, institutions, internationalisation, organisa-tions, capabilities, varieties of capitalismJEL Classification: O31 innovation and invention: processes and incentives, D02institutions: design, formation, and operations, L22 firm organization and marketstructure
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