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Market-Based Solutions to Vital Economic Issues
Research
Oct 1, 2017

Entry into Nascent Industries: Disentangling a Firm’s Capability Portfolio at the Time of Investment versus Market Entry

Abstract

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.

 


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