Fast Growing Firms in a Slow Growth Economy - Institutional Conditions for Innovation

Key Facts and Insights

1. Institutional factors play a significant role in fostering or hindering innovation, especially in slow-growth economies.
2. Fast-growing firms are not necessarily concentrated in fast-growing economies. They can thrive in slow-growth economies by leveraging innovation.
3. The book introduces the concept of 'institutional voids' which refers to the absence of specialized intermediaries, regulatory systems, and contract-enforcing mechanisms in emerging markets.
4. Visintin and Pittino identify four types of resources — financial, human, social and organizational — that fast-growing firms in slow-growth economies typically leverage.
5. The authors argue that entrepreneurial orientation is crucial for the success of fast-growing firms in...

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