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Kim, Young Choon
Organization & Innovation Management
Research Interests
  • Organization Learning, Strategic Management, Entrepreneurship

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Following in Partners’ Footsteps: An Uncertainty-reduction Perspective on Firms’ Choice of New Markets for Entry

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Title
Following in Partners’ Footsteps: An Uncertainty-reduction Perspective on Firms’ Choice of New Markets for Entry
Author
Makarevich, AlexKim, Young Choon
Issue Date
2019-11
Publisher
WILEY
Citation
JOURNAL OF MANAGEMENT STUDIES, v.56, no.7, pp.1314 - 1344
Abstract
In this paper, we develop a new perspective on what determines firms' choice of new markets for entry. First, drawing on the open‐system theoretical tradition and literature on inter‐organizational networks, we advance and empirically test the proposition that firms tend to enter new markets to which they are connected by partnership ties. We then show that this network influence is filtered through the structure of firms' network connections to new markets and firms' experience. Specifically, we find that multiplicity of connections to new markets, as well as the extensiveness of firms' experience and its relevance to new markets weaken the effect of network ties on firms' choice of new markets. The results of this study indicate that firms' choice of new markets for entry is a nuanced process that is affected by the interplay of firms' collaborative ties, the structure of their network, and firms' internal capabilities. We test our hypotheses in the empirical context of the U.S. venture capital (VC) industry using panel data over a 23‐year period and find broad support for them.
URI
https://scholarworks.unist.ac.kr/handle/201301/23955
URL
https://onlinelibrary.wiley.com/doi/abs/10.1111/joms.12346
DOI
10.1111/joms.12346
ISSN
0022-2380
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