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We combine economic and institutional theories of clustering in foreign entry location choice in an overarching social learning conceptualization. Prospective entrants learn about the attractiveness of alternative locations by observing the entry choices of previous investors (‘models’). We distinguish two types of learning that differ in observational focus width but can and do operate simultaneously. With assessment learning, firms judge the economic feasibility and agglomeration benefits of entering a location by observing and following a broad set of models. With bandwagon learning, firm‐level uncertainty narrows attention to, and prompts the following of, specific models, with recentness of model behavior an important moderator. We find broad support for our conceptualization in an analysis of the entries of 692 Japanese electronics firms into Chinese provinces during 1979–2001. Copyright © 2011 John Wiley & Sons, Ltd. 相似文献
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Entry timing benefits and costs typically vary with firms' capabilities. In this study, we empirically examine the entry timing implications of firms' intrinsic speed capabilities, which refer to the ability to execute investment projects faster than competitors. We hypothesize that firms with intrinsic speed capabilities face low preemption risks and, thus, can afford to wait longer for uncertainty resolution before deciding to enter new markets. This hypothesis is more applicable when investment is associated with higher levels of commitment and, thus, greater option value of waiting. A direct implication is that late entrants with intrinsic speed capabilities should have greater expected post‐entry performance. We find support for these hypotheses in the Atlantic Basin liquefied natural gas (LNG) industry from 1996 to 2007. Copyright © 2013 John Wiley & Sons, Ltd. 相似文献
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Based on a survey of 90 transnational product introductions, we find that the transnational product development capabilities of organizations significantly depend upon their ability to transfer and deploy tacit knowledge concerning overseas markets. Specifically, we find that organizations which use cross-national teams, teams with members who have prior overseas experience, or teams whose members communicate frequently with overseas managers in order to acquire information about tacit differences among countries have greater transnational product development capabilities. This study contributes to our understanding of how organizations transfer and deploy knowledge across borders for competitive advantage and makes an important contribution to the literature on global strategy. Copyright © 2001 John Wiley & Sons, Ltd. 相似文献
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Joan D. Penner-Hahn 《战略管理杂志》1998,19(2):149-168
This paper develops an explanation for the mode and sequence of entry that firms select for their international research and development activities. The hypotheses are based on the internalization and evolutionary theory perspectives. I first hypothesize that there is a sequence to the mode of foreign research and development activities initiated. I then discuss two firm capabilities and alternatives which might cause firms to omit parts of the sequence. The context of the study is the foreign research and development activities of incumbents and recent entrants to the Japanese pharmaceutical industry. The results indicate intriguing differences between the motivations of established firms and new entrants in establishing foreign research and development activities. © 1998 John Wiley & Sons, Ltd. 相似文献
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We analyze the determinants of the decision to invest abroad and the choice of spatial configurations of overseas plants for 120 Japanese firms active in 36 well‐defined electronic product markets. We find that key competitive drivers at the firm and industry levels have a critical impact on the choice between alternative international plant configurations. Regional configurations focused on Asia are chosen by firms with weaker competitiveness for products with established manufacturing technologies. Plant configurations focused on the United States and the European Union are chosen by technology‐intensive firms facing competitive threats in foreign markets. Global configurations are chosen by firms with a strong competitive position in the Japanese and world market for their core product businesses and are more common in the case of strong oligopolistic rivalry between Japanese firms. Copyright © 2005 John Wiley & Sons, Ltd. 相似文献
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文化因素对企业经营绩效影响的研究 总被引：12，自引：0，他引：12
本文利用霍夫斯塔德（Hofstede）和他的同事跨文化研究的相关成果,结合新制度经济学的交易成本分析工具,对文化因素与企业经营绩效的关系进行了理论研究．并利用1995年世界最大500家公司的面板数据等．对文化因素与企业经营绩效的关系进行了计量检验,结果显示,个人主义与集体主义、权力距离和合作性三个文化因素对企业经营绩效有显著的影响。在此基础上．本文分析了文化因素对我国企业经营绩效的影响．并提出了相关的政策建议． 相似文献
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Mahka Moeen 《战略管理杂志》2017,38(10):1986-2004
Research summary : This article examines the capability antecedents of firm entry into nascent industries. Because a firm's technological investments in nascent industries typically occur before market entry, this study makes a distinction between firm capabilities at the time of market entry and at the time of initial investment. At the time of market entry, core technical capabilities and complementary assets influence the likelihood of entry. However, at the time of investment, a firm's integrative capabilities as well as the initial stocks of related technical capabilities and complementary assets become critical, as they enable endogenous development of core technical capabilities and complementary assets by the time of entry. The empirical sample consists of firms involved in field experiments in agricultural biotechnology during the period 1980–2010. Managerial summary : New product commercialization in a nascent industry typically requires access to not only core technologies of the focal industry, but also supporting commercialization assets. However, firms may not possess these critical capabilities when they first invest in the industry. Instead, empirical evidence from the context of agricultural biotechnology shows that at the time of first investment, a firm's integrative capabilities partly explain their likelihood of entry. Integrative capabilities encompass a set of practices that enable effective coordination and communication, and in turn put firms in an advantageous position to develop the needed capabilities by the time of entry. Copyright © 2017 John Wiley & Sons, Ltd. 相似文献
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Drawing on traditional resource‐based theory and its recent dynamic capabilities theory extensions, we examine both the possession of a market orientation and the marketing capabilities through which resources are deployed into the marketplace as drivers of firm performance in a cross‐industry sample. Our findings indicate that market orientation and marketing capabilities are complementary assets that contribute to superior firm performance. We also find that market orientation has a direct effect on firms' return on assets (ROA), and that marketing capabilities directly impact both ROA and perceived firm performance. Copyright © 2009 John Wiley & Sons, Ltd. 相似文献
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Jaeyong Song 《战略管理杂志》2002,23(3):191-210
This paper investigates how investments in capabilities offer platforms for the upgrading or downgrading of overseas subsidiaries' activities along a ‘technology ladder’ in response to macroeconomic changes. By analyzing panel data on Japanese electronic firms in East Asia from 1988 to 1994, the empirical results confirm the importance of capabilities at host country, parent company, and local subsidiary levels in sequential foreign investment decisions. The results show that subsidiary capabilities offset macroeconomic factors influencing location decisions of multinational corporations. Copyright © 2002 John Wiley & Sons, Ltd. 相似文献
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This paper proposes that transaction costs and capabilities are fundamentally intertwined in the determination of vertical scope, and identifies the key mechanisms of their co‐evolution. Specifically, we argue that capability differences are a necessary condition for vertical specialization; and that transaction cost reductions only lead to specialization when capabilities along the value chain are heterogeneous. Furthermore, we argue that there are four evolutionary mechanisms that shape vertical scope over time. First, the selection process, itself driven by capability differences, dynamically shapes vertical scope; second, transaction costs are endogenously changed by firms that try to reshape the transactional environment to increase their profit and market share; third, changes in vertical scope affect the nature of the capability development process, i.e., the way in which firms improve their operations over time; and finally, the changes in the capability development process reshape the capability pool in the industry, changing the roster of qualified participants. These dynamics of capability and transaction cost co‐evolution are illustrated through two contrasting examples: the mortgage banking industry in the United States, which shows the shift from integrated to disintegrated production; and the Swiss watch‐manufacturing industry, which went from disintegration to integration. Copyright © 2005 John Wiley & Sons, Ltd. 相似文献
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Gwendolyn K. Lee 《战略管理杂志》2008,29(12):1257-1280
The resource‐based view of the firm suggests that the timing of market entry by a firm depends on its resources and capabilities, but several important questions remain. First, in a high‐velocity market where capabilities change quickly, how does entry timing depend on the capabilities at varying points in time? Second, how much flexibility does a firm have in altering its capabilities to achieve desirable entry timing? To answer these questions, this study sets out to develop a dynamic, refined version of the resource‐based view that parameterizes a firm by its time‐varying capability relevance with respect to a focal market, and makes predictions on entry timing and future growth of capability relevance. The study develops a novel approach that uses the entrants' product portfolios to infer a potential entrant's capability relevance. The results based on a panel of potential entrants show that the initial and current capability relevance each affect entry timing alone, revealing the persistent effect of the initial condition. However, given the knowledge of the current capability relevance, the initial relevance has no effect on entry timing, suggesting that the initial relevance affects entry timing through its influence on the current relevance. Firms that are in an initially unfavorable position can still achieve early entry, provided that they improve their capability relevance over time. Copyright © 2008 John Wiley & Sons, Ltd. 相似文献
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Focusing on proving or disproving transaction cost economics has led to a relative neglect of some key drivers of vertical scope, such as differences in productive capabilities (as opposed to capabilities of governance). We consider how productive capability differences can shape vertical scope through gains from trade. Using highly detailed data from the mortgage banking industry, we find productive capabilities to be a key determinant of the make‐vs.‐buy decision. Our analysis also suggests firms' attempts to leverage a comparative advantage can also lead to the use of mixed governance modes (both ‘make’ and ‘buy’ in a particular part of the value chain). We conclude that the distribution of productive capabilities along the value chain, catalyzed by transaction costs, ultimately drives vertical scope. Copyright © 2005 John Wiley & Sons, Ltd. 相似文献
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There is as yet limited empirical research on the internationalization processes, strategies and operations of Asian MNEs. Drawing on primary data from 12 case studies of emerging Taiwanese and Singaporean MNEs in the textile and electronics industries, this paper examines and analyses their internationalization characteristics and strategies, including motivations, patterns and sources of competitive advantage. The findings indicate that the emerging Taiwanese and Singaporean MNEs, while exhibiting characteristics such as that described in extant theories also suggest some differences. The empirical findings, limitations and areas for further research are discussed. 相似文献
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This article investigates attitudes that underlie international strategy processes. We propose survey scales of these attitudes and describe tests that support their reliability and validity as measures of constructs—including integration, responsiveness, and coordination—that researchers have used for many years in case analyses of international strategy and organization. We also propose and validate scales to capture the perceived alignment with firms' international objectives of key business policies that affect individuals, including accountability for global results, career opportunity and a globally shared meaning system that informs communication and discussion about change. Our discussion of these tests offers an assessment of how changing patterns of association among the measures over time conform to expectations generated by the case-based empirical literature. We argue that these patterns document a process of organizational learning that can link managers' mind-sets with senior managers' intentions in the course of proactive international strategic change. The analysis relies on survey responses taken in 1992 and 1995 from 370 managers in 13 country affiliates and the head office of a U.S.-based diversified multinational corporation (DMNC). © 1998 John Wiley & Sons, Ltd. 相似文献
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In this paper, we argue that capabilities serve as shift parameters that result in a change in the critical value of asset specificity at which firms switch from in‐sourcing to outsourcing. Capabilities have two effects: they result in a change in firm production costs and in firm governance costs relative to the market. As a result, the frontier at which market governance gives way to firm governance shifts. Three factors that produce such shifts are the value, rarity, and inimitability of capabilities employed in firm processes. Considered as shift parameters, the effect of capabilities integrates seamlessly into transaction costs reasoning and is not a competing view of firm governance. We demonstrate these arguments empirically using a sample of 180 information systems sourcing decisions. Copyright © 2013 John Wiley & Sons, Ltd. 相似文献
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Transaction cost economics (TCE), as developed and operationalized by Oliver Williamson, is one of the most prominent and influential developments in the social sciences. In recent years, on the basis of many empirical studies, it has been claimed that the evidence has corroborated TCE. If so, this would have major implications for the debate between TCE and other approaches to understanding the nature of the firm. In this paper we submit the most prominent TCE empirical work to critical scrutiny, on the basis of the standards and predictions in Williamson's own writings. We find a much more mixed picture, with few studies giving unambiguous support to Williamson's TCE. Furthermore, a significant number of the studies can be reinterpreted in terms of a competence or capabilities approach. We conclude that the empirical evidence does not decisively support Williamson's TCE and we stress the importance of an empirical program of joint testing of rival theoretical approaches. Copyright © 2006 John Wiley & Sons, Ltd. 相似文献
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Using a detailed dataset from the Chilean construction industry, we explore how the predictions of the transaction cost and capabilities theories interact to explain building contractors' decisions to ‘make or buy’ the specialty trade activities needed to complete a construction project. We show that the contractor's productive capabilities strongly mediate the relationship between transaction hazards that originate from either temporal specificity or an exogenous change in the subcontracting law and the vertical integration decision. The inclusion of differential capabilities and its interaction with transactional hazards infuse contractors' boundary choices with systematic patterns of heterogeneity and contribute to the integration of these theoretical perspectives. Our analysis corrects for the endogeneity of the capabilities variable and provides a detailed assessment of the marginal effects in logit models. Copyright © 2013 John Wiley & Sons, Ltd. 相似文献
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本文认为探究我国内部资本市场(ICM)有效性时应综合考虑关联交易(RPT)问题。因此文章在对内部资本市场和关联交易理论分析的基础上,着重探究内部资本市场中的关联交易对我国公司价值的影响。实证研究发现:总体上我国内部资本市场成员间的关联交易表现为促进公司价值提升,这种促进作用主要来自公允的内部资本市场关联交易,尤其表现为内部资本市场关联流入;我国内部资本市场配置低效的结论主要与非公允的关联交易相关;外部资本市场的金融抑制状态,使得国内企业通过内部资本市场中的关联交易实现降低交易成本和市场风险、放松融资约束、提升公司价值的目的。 相似文献