Gradual Innovation Perspective: Measuring Industrial Dynamics in Mutual Fund Markets
Scholars who are Involved with economic processes In Industrial economies have long been concerned with the dynamics of companies’ adaptation to new circumstances (Mathews, 2006/2001). Building on the findings in this research tradition, In 2001 and in an update In 2006 Matthews developed a conceptual framework within which Industrial dynamics and competitive inter-company Interactions could be analyzed in terms of adaptive responses to changes in the complex system of which the companies are a part. He Introduced a new perspective compared to the established angle of anomalies and exceptions such as the “market failures” and “externalities” favored in many of the more classical approaches in microeconomics. The Integrative nature of his concept resulted in a structure that positioned companies to play the central role as actors, whereby their resources, routines and relations with each other in fact generate the complex structures such as networks, consortia, and development blocks which mediate and shape the strategic responses made by companies. The approach thereby draws heavily on Insights from four current business perspectives, namely the dynamic capabilities perspective on the company (Incorporating the resource-based view) as developed in the literature on strategic management; the markets-as-networks view of Inter-company coordination within Industrial markets; the evolutionary economic view that seeks to account for changes In companies’ competitive performance In terms of variation In their underlying organizational routines, and the entrepreneurial discovery perspective of Schumpeter.
KeywordsMutual Fund Industry Dynamic Mutual Fund Market Dynamic Capability Perspective Industry Architecture
Unable to display preview. Download preview PDF.