Institutional entry barriers and spatial technology diffusion: Evidence from the broadband industry
研究了美国宽带行业中，地方制度性进入壁垒如何影响在位企业的技术扩散，发现限制非私营企业进入的地方制度会减缓私营在位企业的技术扩散，但企业能力和市场竞争程度会调节这一效应。
Abstract Research Summary In this article, we examine the effects of institutional entry barriers on incumbent firms' technological diffusion. In particular, we combine new institutional economics and nonmarket perspectives to build a theoretical framework about the impact of local entry barriers on community‐based firms and how they affect incumbent firms' technology diffusion. We theorize that the local institutional environment reduces technology diffusion because of reduced entry threat, but incumbents' capabilities and the intensity of competition from private firms may moderate this effect. We exploit the exogenous geographical variation of alternative entry regimes in the U.S. broadband industry to causally capture incumbents' technology adoption strategies. This article suggests that local institutional contexts that advantage private firms over nonprivate firms may generate divergent spatial technology diffusion processes within and across firms. Managerial Summary In this article, we examine how firms adjust their technology adoption to their local institutional environment. We argue and empirically show that local institutions that restrict new entry by nonprivate firms reduce private incumbents' technology diffusion but the effect depends on firm and market characteristics. In particular, national incumbents are more resilient because of their capabilities while local competition by private firms moderates the negative effect of reduced entry threat. We use the context of the U.S. broadband industry to examine the effect of local institutions that provide advantages to some firms over others. Our results suggest that managers need to adjust their technology adoption strategies to the local regulatory environment taking into account firm's capabilities and market competition.