Micro-strategies of Contextualization Cross-national Transfer of Socially Responsible Investment

previous research on cross-national transfers. They also contribute to explain how divergences
between varieties of capitalism are maintained. Finally, each strategy combines institutional
and symbolic aspects with practice and strategy, which makes it possible to simultaneously
address dimensions that have often been addressed separately.

There is an interesting avenue for future research in investigating the role of micro-
strategies in successful transfers. Our study is limited in this regard because we only studied
successful transfers. A failure case would be required to identify which variable, or which
combination of variables, lead to successful transfers, particularly across dissimilar societies.
Future research may investigate the possibilities and limitations associated with individual
strategies. For instance, can the skilful use of micro-strategies enable transfers that are
otherwise destined to fail? In contrast, under which structural conditions is the skilful use of
micro-strategies to no avail? Perhaps the presence of certain structural factors is required to
successfully transfer a foreign business practice, e.g., a major event, institutional upheaval in
the host society, or a budding social movement. There is certainly a need for testing whether
the use of micro-strategies, perhaps in combination with other factors, can explain why some
transfers fail and others succeed. This insight is important theoretically, but it is equally
important for practitioners who struggle to transfer practices across institutional divides.

The repertoire of micro-strategies makes explicit the practice of contextualization,
which is often taken for granted in studies of cross-national transfers. This explicit account
can be valuable to managers who engage in the practice of transfering practices across
societies. For instance, the transfer of business practices through ‘learning expeditions’ abroad
is becoming an industry of its own (e.g. www.wdhb.com), one that can be fairly costly for
firms. Using the repertoire of micro-strategies, managers can transfer business practices more
cost-effectively. They can identify favourable conditions for a transfer and tailor practices to
different business contexts. The empirical findings also provide insights into the processes

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