What is the definition of an institution$-$based view of global business?

a$.$ An institution$-$based view suggests that the successes and failures of firms are enabled and constrained by institutions, meaning the human and natural resources available in the firms' home countries.

b$.$ An institution$-$based view studies how firms must overcome their internal resource constraints.

c$.$ An institution$-$based view looks at how firms use the services of financial institutions to expand their businesses internationally.

d$.$ An institution$-$based view suggests that the successes and failures of firms are enabled and constrained by institutions, also known as the rules of the game, such as regulations, laws, cultures, ethics, and norms.