INSTITUTION BASED VIEW OF INTERNATIONAL .
recent work has articulated the emergence of an institutionbased view of IB strategy (Meyer and Peng 2005;Peng2002, 2003; Peng, Wang, and Jiang 2008). This view has been argued to be one of the three leading perspectives in IB strategy—the other two leading perspectives are industry and resourcebased views (Peng 2006).