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1.
    
We show that successful foreign market entry is related to the extent of foreign presence in an industry at the time of entry. Survival of 31 Canadian-based businesses that entered 24 U.S. medical sector markets between 1968 and 1989 tended to be somewhat longer in product markets in which foreign-based businesses held a moderate market share when the Canadian businesses entered than in low and high foreign share product markets. The result controls several other industry and business-level factors, including industry concentration, entry year, corporate size, related diversification, entry mode, and service sector status.  相似文献   

2.
This study investigates how important it is for a firm to select what turns out to be a dominant design in a technology‐driven industry. Using the personal computer industry as a case study, this research shows that firms are not doomed when their entry design choices turn out to be ‘wrong.’ For early entrants, we found that switching to the dominant design is associated with increased chances of survival and market share. Contrary to our expectations, we found that even later entrants that switched to the dominant design also enjoyed higher survival rates and greater market position. Copyright © 1999 John Wiley & Sons, Ltd.  相似文献   

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We investigate the factors that influence the timing of entry of firms into new industries based on new technology. Consistent with previous research, it is hypothesized that firm resources and organizational attributes influence entry timing. Unlike previous research, there is specific consideration of how industry setting—specifically, the extent to which it offers first mover advantages—influences the ability to predict timing of entry. The ability to explain entry timing differed across industries, with success occurring in the industry with strong first mover advantages. Two categories of resources, technological and marketing, were found to be associated with early entry. The organizational attributes that influenced early entry were commitment to a threatened market and (surprisingly) greater size. © 1998 John Wiley & Sons, Ltd.  相似文献   

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When facing uncertainty, firms entering new markets can make initial foothold investments rather than undertake large sunk investments. Such investments are real call option purchases. They offer management flexibility, but also raise questions about whether and when to increase commitments to new markets. We present an entry timing decision criterion and discuss its application to a variety of market entry situations. Optimal timing for exercising real options depends on current dividends, possibilities for preemption, and whether the option is simple or compound, proprietary or shared. Our analysis reveals critical assumptions and new theoretical insights regarding market entry timing. Copyright © 2002 John Wiley & Sons, Ltd.  相似文献   

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This paper focuses on the role of network resources and examines the associated mechanisms that affect the timing of entry into an emerging product market. Linking network theory to market entry research, I analyze the pattern in the structure, relation, and composition of 517 firms' strategic alliances as the firms face the decision of whether and when to enter the networking switches market over a 13‐year period from 1989 to 2001. The context for empirical testing is the voice/data convergence between telephony communications and computer networking technologies during which the industry boundary blurs. Firms that have access to information of high quality, large quantity, and compositional heterogeneity are likely to enter the newly developed market more quickly. However, network configuration lock‐in and network costs may counterbalance the benefits derived from network resources. I discuss the implications of these findings for research on social networks and the timing of market entry. Copyright © 2007 John Wiley & Sons, Ltd.  相似文献   

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Research summary : This inductive study examines how firms make decisions about the timing of innovations, focusing on the mobile handset industry during the feature‐phone era. Through qualitative and quantitative data, we reveal how individual technology‐entry decisions are influenced by a portfolio‐level timing preference, and how this preference informs other aspects of innovation strategy, too. Early movers address greater, more uncertain revenue opportunities with broader, less selective innovation portfolios. Conversely, late movers target lower, more certain revenue opportunities with narrower, more selective portfolios. While timing per se seems unrelated to performance, a timing‐strategy alignment is. Future research on the equifinal configurations we propose—broad/nonselective for early movers and narrow/selective for late movers—could thus help resolve the debate about the link between timing and performance. Managerial summary : We study how firms make decisions about the entry of new product features, in this case mobile phone technologies. During development firms weigh the scale and likelihood of features' commercial success. Some firms display a preference for earlier entry, which offers temporary monopoly rewards if uncertainty resolves favorably, while others tend to opt for later entry, which offers greater certainty but lower rewards due to competitive preemption. The innovation portfolios of these companies thus pursue differently structured opportunities, bringing about different strategic approaches. Since early movers aim for big hits to compensate for a higher failure rate, they launch a broader set of features and exert little selective pressure on the development portfolio. By contrast, late movers' lower payoffs reduce their tolerance for failure, making them launch fewer features and emphasize selectiveness; i.e., they invest in learning from the resolution of uncertainty so as to choose features more discriminately. When we examine innovation performance, timing has no significant effect but matching timing with feature breadth does. Copyright © 2015 John Wiley & Sons, Ltd.  相似文献   

8.
    
For the most part, studies on timing of entry have attempted to determine the advantages that early entrants may be able to develop and hold over subsequent entrants. Given that a large number of firms attempt to enter at a much later stage in the development of the market, it is particularly surprising that little research has attempted to examine the differences in the ability of late movers to penetrate the market. In this paper, we focus exclusively on late movers and examine the extent to which their early success can be tied to existing market conditions, their resource strengths, and their strategic positioning. Copyright © 2003 John Wiley & Sons, Ltd.  相似文献   

9.
    
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   

10.
    
We test theories of product differentiation and firm capabilities using data from the U.S. automobile industry. We find managers introduce new models close to their existing ones but far from rival models. We also find entrants and foreign manufacturers locate models closer to rival models. These results are consistent with both economic models of product differentiation and theories of firm capabilities Copyright © 2000 John Wiley & Sons, Ltd.  相似文献   

11.
Much of the literature dedicated to the analysis of entry timing decisions has been devoted to the study of their consequences in terms of performance. However, only a limited amount of effort has been dedicated to analyzing the factors that determine these decisions. In addition, previous papers have centered their efforts on the product dimension, paying no attention to entry into new geographical markets. This paper departs from previous works in this respect and extends the entry timing literature through a consideration of the geographical side of entry. Our analysis shows that organizational size, organizational competence, and organizational experience appear as key factors when explaining the pattern of geographic diversification. Our results also indicate that diversification takes place sequentially, first proceeding to closer locations, then occupying markets further from the origin. Copyright © 2002 John Wiley & Sons, Ltd.  相似文献   

12.
This paper studies the effect of product ownership and quality on nonstop entry in the airline industry. Specifically, this paper empirically examines the decision of an airline to offer high-quality nonstop service between cities given that the airline may or may not be offering lower quality one-stop service. I find that airlines that offer one-stop service through a hub are less likely to enter that same market with nonstop service than those that do not. In addition, the quality of the one-stop service is an important determinant of entry. Airlines are more likely to enter a market with nonstop service if their own or their rival's one-stop service in the market is of lower quality. Estimates suggest that the entry of a rival nonstop carrier diminishes the probability a carrier enters the market with nonstop service. However, airlines offering one-stop service respond differently to nonstop rivals. In particular, relative to other carriers, those offering one-stop service are more likely to enter markets if there are nonstop rivals, suggesting that cannibalization effects are diminished in the presence of nonstop competition.  相似文献   

13.
This research examined the effects of timing, order and the durability of first mover advantages by analyzing the stock market reactions to new product introductions and imitations. The major findings are that both timing and order of moves are important and that rival reactions undermine the durability of first mover advantages. More specifically, (1) early and fast movers achieve greater gains than late and slow movers, and (2) first movers suffer at the time of new product imitations. Copyright © 2000 John Wiley & Sons, Ltd.  相似文献   

14.
Endogenous location leadership   总被引:2,自引:0,他引:2  
We analyze a game of timing where Sellers, which have marginal production cost asymmetries, can delay entry and a commitment to a location in a Hotelling type setting. When cost differences are large enough the game becomes a war of attrition that yields Stackelberg behavior where the high cost firm will delay choosing a location until the low cost firm commits to its position. We find interaction effects between timing and the degree of product differentiation and compute timing/location and mixed strategy equilibria through a range of marginal cost differences. The firms maximally differentiate with moderate cost differences; with somewhat greater cost differences there is intermediate differentiation, and; with large cost differences there is a blockading monopoly. The low cost firm always commits to entry immediately whereas the high cost firm either enters immediately, shortly after the low cost leader, or never, depending on the cost differences. Finally, we find that in equilibrium the duopoly is sustained for a larger range of cost differentials and that differentiation is greater than the social optimum.  相似文献   

15.
    
Corporate sponsorship of events that support social values (e.g., human rights) help firms infuse their products with symbolic meaning, prolonging their life cycle. Yet, higher product prices might spark perceptions that the firm invests in social values for calculative or opportunistic motives, in which case event sponsorship is unlikely to deliver the expected benefits in the form of product longevity. This study explores this potential tension empirically, using data related to sponsored social events, entry prices, and product longevity for a U.S. cosmetics producer. Copyright © 2014 John Wiley & Sons, Ltd.  相似文献   

16.
Traditional location literature concludes that firms will optimally differentiate in order to alleviate a tendency toward competitive pricing. However, it has recently been shown that firms will minimally differentiate if they (correctly) anticipate an absence of price competition. This paper examines the relationship between product location and the sustainability of cooperative pricing, in horizontally and vertically differentiated markets. Further, it describes equilibrium locations when firms are able to choose their locations jointly and when they must choose independently.  相似文献   

17.
Traditional location literatureconcludes that firms will optimally differentiate inorder to alleviate a tendency toward competitivepricing. However, it has recently been shown thatfirms will minimally differentiate if they (correctly)anticipate an absence of price competition. Thispaper examines the relationship between productlocation and the sustainability of cooperativepricing, in horizontally and vertically differentiatedmarkets. Further, it describes equilibrium locationswhen firms are able to choose their locations jointlyand when they must choose independently.  相似文献   

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The purpose of this paper is to test the effectiveness of switching costs as an isolating mechanism in the context of the first‐mover advantage theory. Whereas both the literature on switching costs and on pioneering propose this as a mechanism through which firms could obtain sustainable competitive advantage, other authors offer a rationale for thinking that this is not the case. We test our hypotheses in the context of the European mobile telecommunications industry. This is a sector that has been characterized by high rates of growth in the number of subscribers, which could reduce the effectiveness of switching costs from being effective as an isolating mechanism. Our results show that switching costs are an important tool through which first‐mover advantages materialize. Copyright © 2011 John Wiley & Sons, Ltd.  相似文献   

20.
Resource‐based theory maintains that intrinsic characteristics of resources and capabilities, such as their tacitness, complexity, and specificity, prevent imitation and thereby prolong exceptional performance. There is little direct evidence to verify these claims, yet a substantial literature encourages firms to formulate competitive strategies around resources with these attributes. Further, work outside the resource‐based tradition suggests that these attributes can slow innovation, and it is not clear when this effect outweighs the benefits of inimitability. This paper seeks to clarify whether and how the complexity, tacitness, and specificity of a firm's knowledge affect the persistence of its performance advantages. We find that the complexity and tacitness of technological knowledge are useful for defending a firm's major product improvements from imitation, but not for protecting its minor improvements. The design specificity of technological knowledge delayed imitation of minor improvements in this study. Copyright © 2002 John Wiley & Sons, Ltd.  相似文献   

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