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  • November 2017
  • Article
  • Strategic Management Journal

Overcoming Institutional Voids: A Reputation-Based View of Long Run Survival

By: Cheng Gao, Tiona Zuzul, Geoffrey Jones and Tarun Khanna
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Abstract

Emerging markets are characterized by underdeveloped institutions and frequent environmental shifts. Yet they also contain many firms that have survived over generations. How are firms in weak institutional environments able to persist over time? Motivated by 69 interviews with leaders of emerging market firms with histories spanning generations, we combine induction and deduction to propose reputation as a meta-resource that allows firms to activate their conventional resources. We conceptualize reputation as consisting of prominence, perceived quality, and resilience and develop a process model that illustrates the mechanisms that allow reputation to facilitate survival in ways that persist over time. Building on research in strategy and business history, we thus shed light on an underappreciated strategic construct (reputation) in an under-theorized setting (emerging markets) over an unusual period (the historical long run).

Keywords

Institutional Voids; Intangible Resources; Emerging Markets; Reputation; Business History

Citation

Gao, Cheng, Tiona Zuzul, Geoffrey Jones, and Tarun Khanna. "Overcoming Institutional Voids: A Reputation-Based View of Long Run Survival." Strategic Management Journal 38, no. 11 (November 2017): 2147–2167. (Video Abstract.)
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About The Authors

Tiona W. Zuzul

Strategy
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Geoffrey G. Jones

General Management
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Tarun Khanna

Strategy
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