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Foreign Market Uncertainty, Entry Timing and Firm Performance: The Moderating Effects of Firm Resources and Entry Mode

조성제|김석수|박서연
한국국제경영학회 (Korean Academy of International Business)|2012.03|국제경영연구 (International Business Journal)|제23권 제1호|pp. 1-31

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키워드

경영성과firm performanceforeign market uncertaintyforeign market entry timing해외시장불확실성해외시장진입시기
주제분류경영학

초록

This paper empirically examines the foreign market entry timing of Korean manufacturing MNEs. First, we explore whether foreign market uncertainty influences entry timing choices and whether the effect varies with firm resources. Second, we test the relationship between entry timing and firm performance. Our findings suggest that firms delay the entries into uncertain foreign markets but that this attitude is weakened for internally uncertain foreign markets if they are endowed with technological resources. In addition, the findings indicate that the effect of entry timing on firm performance is affected by entry mode and the results suggest that earlier entrants in the lower control mode and later entrants in the higher control mode can outperform their competitors. We conclude with a discussion of the findings and suggestions for future research.

Abstract

This paper empirically examines the foreign market entry timing of Korean manufacturing MNEs. First, we explore whether foreign market uncertainty influences entry timing choices and whether the effect varies with firm resources. Second, we test the relationship between entry timing and firm performance. Our findings suggest that firms delay the entries into uncertain foreign markets but that this attitude is weakened for internally uncertain foreign markets if they are endowed with technological resources. In addition, the findings indicate that the effect of entry timing on firm performance is affected by entry mode and the results suggest that earlier entrants in the lower control mode and later entrants in the higher control mode can outperform their competitors. We conclude with a discussion of the findings and suggestions for future research.

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