Institutional Sources of Resilience in Global ICT Leaders - Harness the Vigor of Emerging Power

In light of the significant impacts on global economy both nations and firms witnessed a dramatic advancement of information and communication technology (ICT). There was particularly bi-polarization between ICT advanced and growing economies compelling a vicious cycle between ICT advancement and its productivity decline in these economies. The institutional sources of resilience were analyzed. On the basis of an empirical analysis comparing technopreneurial performance in world top 500 ICT firms by market value, sales and profit over the last decade, resilient firms maintaining world top 100 position by all three values over the whole period were identified. Institutional sources enabling resilient firms maintain leading position can largely be attributed to co-evolutionary acclimatization ability, which harnesses the vigor of emerging power of counterparts both in home countries and in advanced countries as well as growing economies in a co-evolutional way. Such ability maximizes synergy between efficiency and resilience in their technopreneurial management. Contrasting business model in global ICT firms with and without resilience structure suggests the sources of emerging trap due to ICT advancement and endorsed the significance of co-evolutionary acclimatization. This suggests the significance of institutional coevolution between ICT advanced and growing economies that enables both economies to harness the vigor of partners for global sustainability.