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Impact of institutional imprinting on the persistence of superior profits: A study of regulatory punctuation in India

机译:体制印记对卓越利润持久性的影响:印度监管标点的研究

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摘要

Drawing upon the literature on organizational imprinting, we examine how a firm's history impacts its performance in subsequent periods. By considering the emerging market context of India, we present evidence that the degree of imprinting of the pre-liberalization era is negatively related to the persistence of superior performance in the post-liberalization period. Furthermore, we investigate the role of imprinting attenuators and find that a firm's listing status, international exposure, and knowledge spillovers from foreign firms weaken this baseline relationship. Empirical results based on a large unbalanced panel data set of 18,201 firm-year observations of Indian firms during the period 1991-2005 provide robust support for our conceptual model. Complementing the growing literature on the impact of contemporaneous institutional changes on performance, this study sheds light on the important role of the institutional history of firms from emerging economies.
机译:借鉴组织印记的文献,我们研究了公司的历史如何在随后的时期对其表现产生影响。通过考虑印度的新兴市场背景,我们提出了证据表明,自由化预先规划时代的印记程度与自由间表现持续存在的持久性呈否定。此外,我们调查了印记衰减器的作用,并发现公司的上市状况,国际曝光和外国公司知识溢出渗透率削弱了这一基线关系。 1991 - 2005年期间,基于18,201岁的印度公司的大型不平衡面板数据集的经验结果为我们的概念模型提供了强大的支持。本研究阐明了越来越多的文学对同时体制变化对业绩的影响,对新兴经济体的制度史的重要作用。

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