The purpose of this study is to close this gap and to better integrate external actors, regulatory actors in particular, into the strategy formation process. Building on neo-institutional theory, we intend to improve our understanding and develop propositions on the following issues: How do regulatory actors influence strategy formation? What is the actual impact on corpo- rate strategies and structures? How can corporations manage regulatory involvement? Beyond this, we aim at developing a theoretical framework of strategic management that explicitly includes external actors, and that considers both market and non-market elements. .
