Capabilities, technologies, and firm exit during industry shakeout: Evidence from the global solar
photovoltaic industryexited
期刊名称： Strategic Management Journal
作者： Furr, Nathan,Kapoor, Rahul
作者机构： INSEAD,Univ Penn
年份： 2017年
期号： 第1期
关键词： dominant design;exit mode;industry evolution;pre-entry
capabilities;shakeout;technology competition;
摘要：ResearchExplanations of entrants' survival in an emerging industry are premised on pre-entry c
apabilities or technology entry choices prior to the emergence of the dominant design. We consider how these drivers interact to strengthen or nullify firms' pre-entry advantage, and facilitate adaptation as the industry evolves. We also expand the treatment of exit by separating dissolution from acquisition, in which firms' capabilities continue to be utilized in the industry. Studying a recent shakeout in the global solar photovoltaic industry, we find that pre-entry capabilities and technology choices act in a complementary manner for some firms, thereby enhancing survival, and as buffers against exit for others. Nearly half of exits were via acquisitions, and technology choice at entry played an important role in determining how
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