Abstract
In this paper, we explore firm performance and strategy in the context of a changing structure of the institutional environment, and relate the institutional environment structure that is proposed to the advantages and disadvantages faced by 'first-mover' firms. Propositions presented suggest that of the three types of institutional influences, mimetic, normative and coercive, only one is dominant in a given environment, and at a given point of time. We extend this model to the specific context of order of market entry of firms, wherein we identify the institutional costs faced by firms in terms of 'deinstitutionalization costs' and 'creation costs', and relate these costs generally to the timing and order of entry of firms. Finally, we offer propositions which suggest how first mover firms can create and sustain advantages, through institutional bases.
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