City Research Online City, University of London Institutional Repository Citation: Tokaranyaset, Chatmaporn (2013). Institution-Based Resource: Concept and Cases. (Unpublished Doctoral thesis, City University London) This is the unspecified version of the paper. This version of the publication may differ from the final published version. Permanent repository link: https://openaccess.city.ac.uk/id/eprint/2416/ Link to published version: Copyright: City Research Online aims to make research outputs of City, University of London available to a wider audience. Copyright and Moral Rights remain with the author(s) and/or copyright holders. URLs from City Research Online may be freely distributed and linked to. Reuse: Copies of full items can be used for personal research or study, educational, or not-for-profit purposes without prior permission or charge. 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City Research Online: http://openaccess.city.ac.uk/ [email protected] Institution-Based Resource: Concept and Cases Chatmaporn Tokaranyaset A thesis submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in Management Cass Business School City University London, United Kingdom May, 2013 1 TABLE OF CONTENTS LIST OF TABLE ............................................................................................. 5 LIST OF FIGURES ......................................................................................... 6 ACKNOWLEDGEMENTS .............................................................................. 7 DECLARATION ............................................................................................ 8 ABSTRACT ................................................................................................... 9 CHAPTER 1: INTRODUCTION ..................................................................... 10 1.1 Research Motivation ........................................................................................................ 10 1.2 Research Approach, Construct, and Contribution ............................................................ 10 1.3 Research Outline .............................................................................................................. 11 CHAPTER 2: LITERATURE REVIEW ............................................................. 13 2.1 Resource-Based Theory (RBT) .......................................................................................... 13 2.2 Institutional Theory (IT) .................................................................................................... 14 2.2.1 Definition: Institution ................................................................................................ 14 2.2.2 Conformity Is Necessary But Not Sufficient ............................................................... 17 2.2.3 Interpretive Flexibility and Innovation ...................................................................... 18 2.3 Combining Resource-Based Theory and Institutional Theory........................................... 20 2.4 Conclusion ........................................................................................................................ 21 CHAPTER 3: INSTITUTION-BASED RESOURCE CONCEPT (IBR) ................... 23 3.1 Institution-Based Resource: Definition and Premises ...................................................... 23 3.2 How Do Institutions Consecrate An Institution-Based Resource? .................................... 26 3.2.1 The Consecrating Institution and its Cultural Consecration ‘Projects’ ....................... 26 3.2.2 Organizational and Cultural Legitimacy of the Consecrating Institution ................... 29 3.2.3 Symbolic Capital of the Consecrating Institution ....................................................... 32 3.2.4 The Process of Consecration ..................................................................................... 33 3.3 Symbolic Value and Benefit of Institution-Base Resource ................................................ 36 3.3.1 The Advantages of the Institution-Based Resource ................................................... 38 3.3.2 Value Dilemma of an Institution-Based Resource ..................................................... 43 2 3.4 What Erodes the Value of Institution-Based Resource? ................................................... 45 3.4.1 How to Prevent an IBR from Losing its Value? .......................................................... 47 3.5 Conclusion ........................................................................................................................ 48 CHAPTER 4: THE ROLES OF COUTURIER AND CREATOR AS AN IBR ........... 50 4.1 Introduction ..................................................................................................................... 50 4.2 The Fashion Industry Overview ........................................................................................ 50 4.2.1 Origin and Definition ................................................................................................. 51 4.2.2 A Cultural Product with Symbolic Meaning ............................................................... 52 4.2.3 Fashion Industry Structure ........................................................................................ 54 4.2.4 Fashion Trends, Shows, and Calendar ....................................................................... 57 4.2.5 Gatekeepers in the Fashion Industry ......................................................................... 58 4.3 Theoretical Overview ....................................................................................................... 60 4.3.1 “The Federation”: History, Purpose, and Membership Rules .................................... 60 4.3.2 The Federation as Consecrating Institution ............................................................... 63 4.3.3 The Roles of Couturier and Creator as Institution-Based Resource ........................... 66 4.3.4 Fashion Week as Ritual and Field Configuring Events ............................................... 71 4.4 Methodology .................................................................................................................... 74 4.4.1 Data Collection and Analysis ..................................................................................... 74 4.4.2 Findings and Discussion ............................................................................................. 76 4.5 Conclusion ........................................................................................................................ 89 CHAPTER 5: MUSEUM CONSECRATION AS AN IBR FOR FASHION DESIGNERS ............................................................................................... 91 5.1 Introduction ..................................................................................................................... 91 5.2 Theoretical Overview ....................................................................................................... 92 5.2.1 Museum as Consecrating Institution ......................................................................... 92 5.2.2 Museum Exhibition as Ritual and Field Configuring Event ........................................ 93 5.2.3 Museum Fashion Exhibition and Consecration of Institution-Based Resource ......... 96 5.3 Research Context ............................................................................................................. 99 5.4 Methodology .................................................................................................................. 101 5.4.1 Data Collection ........................................................................................................ 101 3 5.4.2 Data Analysis ........................................................................................................... 102 5.4.3 Findings ................................................................................................................... 104 5.4.4 Discussion and Conclusion ...................................................................................... 119 CHAPTER 6: THE ROYAL WARRANT AS AN IBR ........................................ 123 6.1 Introduction ................................................................................................................... 123 6.2 Theoretical Overview ..................................................................................................... 123 6.2.1 The British Monarchy as the Consecrating Institution............................................. 123 6.2. 2 What is the Royal Warrant? ................................................................................... 125 6.2.3 Royal Warrant as a Valuable Institution-Based Resource ........................................ 130 6.2.4 Firms’ Strategic Use of the Royal Warrant .............................................................. 134 6.3 Methodology .................................................................................................................. 138 6.3. 1 Data Collection ....................................................................................................... 138 6.3.2 Data Analysis ........................................................................................................... 139 6.3.4 Findings ..................................................................................................................