Sources of transfer problems in within-industry diversification
Sources of transfer problems in within-industry diversification
复制标题
产业内多元化转移问题的根源
DOI：
10.1093/icc/dtv043
复制
发表时间：
2016
影响因子：
2.5
通讯作者：
H
中科院分区：
文献类型：
--
作者：
Min;J. and Mitsuhashi;H
本研究探讨企业在产业内其他市场的经验累积如何造成转移问题，并限制产业内多元化的绩效优势。使用1907年至1940年期间日本非寿险业的数据，我们证明，一家公司在焦点市场的业绩随着在其他市场的经验增加而下降（即，非焦点市场）。这种累积的非焦点市场经验导致管理者将先前存在的惯例广泛而不适当地转移到焦点市场。我们发现，负面影响恶化时，公司已经进入了这样的非焦点市场之前，他们进入焦点市场，这样的非焦点市场是由业绩可比的同行。我们还发现，当企业从非焦点市场转移知识时，负面影响会增加，在非焦点市场中，焦点市场具有较低的实现财务协同效应，并且当企业进入焦点市场之前的经验是成功的。这些研究结果阐明了产业内多元化的负面绩效效应发生的机制，并通过应用组织学习文献中的转移问题的思想来推进我们对产业内多元化的理解。
This research examines how firms’ accumulation of experience in other markets within an industry causes transfer problems and limits the performance advantage of within-industry diversification. Using data on the Japanese nonlife insurance industry between 1907 and 1940, we demonstrate that a firm’s performance in a focal market decreases with more experience in other markets (i.e., nonfocal markets). This cumulative nonfocal market experience causes managers to transfer preexisting routines extensively and inappropriately to the focal market. We show that the negative effect deteriorates when the firms have already entered such nonfocal markets prior to their entry into the focal markets, and such nonfocal markets are populated by performance-comparable peers. We also find that the negative effect increases when firms transfer knowledge from nonfocal markets in which the focal market has low realized financial synergies, and when firms’ experience prior to entry into the focal market was successful. These findings explicate mechanisms by which negative performance effects of within-industry diversification occur, and advance our understanding of within-industry diversification by applying the idea of transfer problems from the literature on organizational learning.