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Fast-mover advantages: Speed capabilities and entry into the emerging submarket of atlantic basin LNG

Author

Listed:
  • Ashton Hawk

    (Fisher College of Business - OSU - The Ohio State University [Columbus])

  • Gonçalo Pacheco-De-Almeida

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

  • Bernard Yeung

    (NUS - National University of Singapore)

Abstract

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.

Suggested Citation

  • Ashton Hawk & Gonçalo Pacheco-De-Almeida & Bernard Yeung, 2013. "Fast-mover advantages: Speed capabilities and entry into the emerging submarket of atlantic basin LNG," Post-Print hal-00984860, HAL.
    • Handle: RePEc:hal:journl:hal-00984860
    DOI: 10.1002/smj.2085
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    Citations

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    Cited by:

    1. Gonçalo Pacheco-de-Almeida & Ashton Hawk & Bernard Yeung, 2015. "The right speed and its value," Strategic Management Journal, Wiley Blackwell, vol. 36(2), pages 159-176, February.
    2. Panikos Georgallis & João Albino-Pimentel & Nina Kondratenko, 2021. "Jurisdiction shopping and foreign location choice: The role of market and nonmarket experience in the European solar energy industry," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(5), pages 853-877, July.
    3. Barros, Henrique M., 2021. "Neither at the cutting edge nor in a patent-friendly environment: Appropriating the returns from innovation in a less developed economy," Research Policy, Elsevier, vol. 50(1).
    4. Yin, Yuwei & Lam, Jasmine Siu Lee, 2022. "Bottlenecks of LNG supply chain in energy transition: A case study of China using system dynamics simulation," Energy, Elsevier, vol. 250(C).
    5. Mohammad Fuad & Ashutosh Kumar Sinha, 2018. "Entry-timing, business groups and early-mover advantage within industry merger waves in emerging markets: A study of Indian firms," Asia Pacific Journal of Management, Springer, vol. 35(4), pages 919-942, December.
    6. Demir, Robert & Campopiano, Giovanna & Kruckenhauser, Christian & Bauer, Florian, 2021. "Strategic agility, internationalisation speed and international success — The role of coordination mechanisms and growth modes," Journal of International Management, Elsevier, vol. 27(1).
    7. Wang, I. Kim & Seidle, Russell, 2020. "Ambition in innovation: Vicarious learning in the nascent electric scooter market in Taiwan," Technological Forecasting and Social Change, Elsevier, vol. 152(C).
    8. Xianjin Du & Meng Li & Brian Wu, 2019. "Incumbent repositioning with decision biases," Strategic Management Journal, Wiley Blackwell, vol. 40(12), pages 1984-2010, December.
    9. Luís Cabral & Gonçalo Pacheco-de-Almeida, 2019. "Alliance Formation and Firm Value," Management Science, INFORMS, vol. 65(2), pages 879-895, February.
    10. Zhe OuYang & Peng Cheng & Yang Liu, 2020. "The role of product line breadth, product pre-entry experience, and market uncertainty in explaining followers’ speed of feature entry," Review of Managerial Science, Springer, vol. 14(6), pages 1221-1249, December.
    11. Sameeksha Desai & Johan E. Eklund & Emma Lappi, 2020. "Entry Regulation and Persistence of Profits in Incumbent Firms," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 57(3), pages 537-558, November.
    12. Heechun Kim & Jie Wu & Douglas A. Schuler & Robert E. Hoskisson, 2020. "Chinese multinationals’ fast internationalization: Financial performance advantage in one region, disadvantage in another," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(7), pages 1076-1106, September.
    13. Jukka Luoma & Sampsa Ruutu & Adelaide Wilcox King & Henrikki Tikkanen, 2017. "Time delays, competitive interdependence, and firm performance," Strategic Management Journal, Wiley Blackwell, vol. 38(3), pages 506-525, March.
    14. Del Sarto, Nicola & Isabelle, Diane A. & Di Minin, Alberto, 2020. "The role of accelerators in firm survival: An fsQCA analysis of Italian startups," Technovation, Elsevier, vol. 90.
    15. Kim Wang, 2017. "Technology Deployment By Late Movers," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 21(04), pages 1-25, May.
    16. Juan Alcácer & Cristian Dezső & Minyuan Zhao, 2015. "Location choices under strategic interactions," Strategic Management Journal, Wiley Blackwell, vol. 36(2), pages 197-215, February.
    17. Ashton Hawk & Jeffrey J. Reuer & Andrew Garofolo, 2021. "The Impact of Firm Speed Capabilities on the Decision to Partner or Go It Alone," Strategy Science, INFORMS, vol. 6(3), pages 191-208, September.
    18. Orlando, Beatrice & Tortora, Debora & Pezzi, Alberto & Bitbol-Saba, Nathalie, 2022. "The disruption of the international supply chain: Firm resilience and knowledge preparedness to tackle the COVID-19 outbreak," Journal of International Management, Elsevier, vol. 28(1).
    19. Kannan Srikanth & Jaideep Anand & Mihaela Stan, 2021. "The origins of time compression diseconomies," Strategic Management Journal, Wiley Blackwell, vol. 42(9), pages 1573-1599, September.
    20. Ronald Klingebiel & John Joseph, 2016. "Entry timing and innovation strategy in feature phones," Strategic Management Journal, Wiley Blackwell, vol. 37(6), pages 1002-1020, June.
    21. Qin, Fei & Wright, Mike & Gao, Jian, 2017. "Are ‘sea turtles’ slower? Returnee entrepreneurs, venture resources and speed of entrepreneurial entry," Journal of Business Venturing, Elsevier, vol. 32(6), pages 694-706.
    22. Konstantinos C. Kostopoulos & Yiannis Spanos & Klas Eric Soderquist & Gregory Prastacos & Nicholas S. Vonortas, 2019. "Market-, Firm-, and Project-Level Effects on the Innovation Impact of Collaborative R&D Projects," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(4), pages 1384-1403, December.
    23. Ahmad Husairi, Mariyani & Morgan, Robert E. & De Luca, Luigi M., 2021. "Market entry timing: The impact of complementary capabilities on strategic outcomes," Journal of Business Research, Elsevier, vol. 132(C), pages 45-55.
    24. Nikhalat-Jahromi, Hamed & Bell, Michael G.H. & Fontes, Dalila B.M.M. & Cochrane, Robert A. & Angeloudis, Panagiotis, 2016. "Spot sale of uncommitted LNG from Middle East: Japan or the UK?," Energy Policy, Elsevier, vol. 96(C), pages 717-725.

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