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Firms increasingly face fragmented institutional environments where stakeholders endorse different institutional logics. While the effects of market specialization have been extensively studied, we don't know much about the firm-level implications of institutional specialization, i.e. when firms demonstrate consistent conformity to an institutional logic. In this study, I explore whether and to what extent institutional specialization affects firm survival. In contrast with arguments and evidence highlighting the potential negative survival effect of market specialization, I posit that institutional specialization is positively associated with survival. Because they may be more skilled at interacting with stakeholders, which perceive them as more appealing and understandable, institutional specialists, I argue, are more likely than other firms to form and maintain the reciprocal stakeholder relationships needed to operate and survive. I expect the survival benefit of institutional specialization to be accentuated when the contrast between logics decreases. I test and find support for these ideas using unique population data on French film producers (1994-2008).

Institutional Specialization and Survival: Theory and Evidence from the French Film Industry