The decision to export: Firm heterogeneity,sunk costs,and spatial concentration |
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| Authors: | Jingtao Yi Chengqi Wang |
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| Institution: | 1. School of Business, Renmin University of China, Beijing, PR China;2. Nottingham University Business School, University of Nottingham, Nottingham NG8 1BB, United Kingdom;3. Jilin University of Finance and Economics, Changchun 130117, China;1. Faculty of Economics and Business, University of Groningen, 800 Postbus, 9700 AV Groningen, The Netherlands;2. College of Business Administration, The University of Tennessee, 416 Stokely Management Center, 916 Volunteer Boulevard, Knoxville, TN 37996-0545, USA;3. School of Business and Economics, North Carolina A&T State University, Quiester Craig Hall, Greensboro, NC 27411, USA;1. Goodman School Business, Brock University, St. Catharines, ON L2S3A1, Canada;2. Carlson School of Management, University of Minnesota, Minneapolis, MN 55455, United States;1. National Research University Higher School of Economics 27, Lebedeva str., 614017, Russia;2. University of Vigo, 105, Rúa do Conde de Torrecedeira, Vigo, Pontevedra, 36208, Spain;1. School of Business and Economics, Loughborough University, Loughborough, LE11 3TU, UK;2. School of Business and Economics, Loughborough University, Loughborough LE11 3TU, UK;3. School of International Business, Southwestern University of Finance and Economics, Chengdu, China;4. Queen Mary, University of London, Mile End Road, E1 4NS, UK;5. College of Economics and Commerce, Kyungnam University, 7 Kyungnamdaehak-ro, Masanhappogu, 631-701, Changwon-Si, Korea;1. University of Seville (Spain), Avda San Francisco Javier s/n, 41018 Seville, Spain;2. University of Seville (Spain), Avda Ramón y Cajal, 1, 41018 Seville, Spain;1. Centre for Macroeconomic and Financial Research and Prognosis, Central Bank of Montenegro, Montenegro;2. University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia;3. Staffordshire University Business School, Stoke-on-Trent, United Kingdom |
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| Abstract: | Integrating perspectives of the Uppsala model of internationalization process, international new ventures and trade theories of heterogeneous firms, this paper develops a dynamic discrete-choice model of export decisions by a profit-maximizing firm. Empirical analyses based on a panel data set of Chinese firms show that sunk costs, productivity, firm size, foreign ownership, industry competition and spatial concentration are positively associated with the decision to export, while state ownership has a negative association with the probability of exporting. However, we find that the relationships are not always uniform and depend on firm-specific idiosyncrasies. The results show that foreign-invested firms and large firms (regardless of ownership) rely on productivity performance related advantages for expanding overseas, while domestic firms, especially small- and medium-sized enterprises, build competitive advantage by leveraging agglomeration economies and the associated spillovers. Our results highlight the role of firm heterogeneity, sunk costs and spatial concentration in shaping the export behavior of firms. |
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