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Peng and Heath (1996)Management > Comparative Management > Lectures > Independent Research > Peng and Heath > Institutions
InstitutionsInstitutions are shape the history by affecting political and social incentives in economic exchange. Porter (1990) believed that institutions were important to the competitiveness of nations. The authors refer mainly to North (1990), stating that there are two types of institutional constraints - formal and informal and the strategic choice a firm makes is based on these constraints.
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