Institutional Void and Path Dependence in China's Energy Sector: A Comparative Study of Central and Provincial Firms
Abstract
countries that hinder enterprise development. Most of the previous research has examined how enterprises deal with these problems through
compensation mechanisms, such as vertical integration and related-party transactions. Through a comparative case study of four energy enterprises (two in Beijing and two in the provinces) over a period of 15 years (2010-2025), we find that central enterprises operate under different
institutional void structures than provincial enterprises and thus have diverged path-dependent development paths. The three channels for
institutional voids causing path dependence are: resource allocation path, capability development path and governance path. We present some
policy recommendations for energy sector reform and institutional theory.
Keywords
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DOI: http://dx.doi.org/10.70711/memf.v3i10.10035
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