Аннотация
The extant literature examines market and non-market strategies (NMS) as distinct interactions firms undertake based on the institutional context, with firms using NMS to compensate for weak institutions. Despite calls to integrate NMS and market strategy (MS) research, few studies examine NMS as a longitudinal process by which firms transition between and simultaneously utilize both NMS and MS. This is crucial because institutional fields are not static: under state capitalism, institutional relationships are often redefined, particularly during processes of economic transition. Positing a three-stage process model of NMS and MS dependent upon institutional quality and the nexus of politics and business, we explore the transformation of firm strategies in a transition economy. Focusing on four dominant firms in Kazakhstan, we show how successful local firms first utilize NMS, then market strategies, and ultimately, a combination of NMS and legitimacy-seeking internationalization. Our analysis reveals that NMS is utilized differently across stages: first to compensate for institutional voids, and later to protect dominance as state capitalism evolves. Our paper is the first to provide evidence for the longitudinal processes integrating non-market strategies, market strategies, and internationalization under state capitalism.