The economic significance of industrial design awards: A conceptual framework

Abstract

This paper explores the importance of industrial design awards in shaping competition. We propose that there exists a positive relationship between winning industrial design awards and the corporate performance of the award‐winner, and that this relationship is moderated by, first, the type of products involved, and second, by the reputation of the award. The reputation of an award, in turn, is considered to be the result of a) the fit between the selection system dominating the relevant industry and the selection system expressed by the award and b) other institutional factors specific to the award, such as the age and the monetary value of the award.