The effect of institutional factors on the market performance of companies located in science and technology parks with a focus of the role of knowledge and technological capabilities

Introduction: Nowadays, the global approach can be clearly seen in the movement of ‎countries towards a "knowledge-based" economy. Knowledge and ‎technology are the main factors in creating wealth in countries and are ‎considered as powerful tools in national development. In this regard, science and technology ‎parks support companies to develop knowledge and technological ‎ideas and commercialize their products. They also span a bridge between academia, industry and government, leading ‎to sustainable growth and development based on competitive advantages at the national level. Companies in these parks can use the norms ‎and values in the environment through institutional factors to ‎improve their performance, increase their market share, retain their current ‎customers, attract new customers and ultimately improve their market ‎performance. Constant environmental changes and the extent of ‎competition have made market performance critical for corporate ‎executives. In this context, there are not only ‎tangible but also intangible factors involved institutional factors and ‎organizational capabilities; these factors have great impacts on the market ‎performance of businesses. Since improving market performance requires ‎effective and stable communication with the institutional environment of the ‎organization, companies in science and technology parks (especially Rasht ‎Science and Technology Park) can make good use of institutional factors ‎‎(i.e., institutional support, political management relations, and legal legitimacy). ‎Knowledge and technological ‎capability are considered as intangible organizational resources to achieve goals. This ‎study was conducted to investigate the effects of institutional factors on ‎market performance, in which the mediating role of organizational ‎capabilities (knowledge capability and technology capability) is also ‎emphasized.‎Methodology: This research is descriptive in terms of the purpose, a survey in terms of strategies and questionnaire-based in terms of data collection. The study population consisted of companies located in Rasht Science and Technology Park. Cochran's formula was also used to determine the required number of samples. According to this formula and the 67 people in the study population, 57 were finally selected as the sample. Accordingly, after referring to the companies, 57 questionnaires were collected. The questionnaires were designed based on seven Likert options (1 = very low to 7 = very high