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culture have repercussions on an industry’s evolution. In our theory, the latter isattributable to evolving corporate cultures … – theysystematically face a growth crisis.[...] …
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The purpose of this paper is to show how institutional and evolutionary economics provide better insights as to whysome firms survive and others do not than does neoclassical economics. At the heart of the evolutionary theory isthe view that new firms are a manifestation of diversity and that...
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