Can first-mover and early-mover advantages be sustained in an industry with low barriers to entry/imitation?

Strategic Management Journal

Volumn 19, Issue 7, 1998, Pages 683-696

  Makadok, Richard ^a  

^a EMORY UNIVERSITY   (United States)

Author keywords

Competitive advantage; Early mover advantage; First mover advantage; Product innovation; Sustainability

Indexed keywords

EID: 0000665945     PISSN: 01432095     EISSN: None     Source Type: Journal    
DOI: 10.1002/(SICI)1097-0266(199807)19:7<683::AID-SMJ965>3.0.CO;2-T     Document Type: Article

References (57)

1. Barney, J. (1986). 'Strategic factor markets: Expectations, luck, and business strategy', Management Science, 32, pp. 1231-1241.
2. Barney, J. (1991). 'Firm resources and sustained competitive advantage', Journal of Management, 17, pp. 99-120.
3. Baumol, W., S. Goldfeld, L. Gordon and M. Koehn (1990). The Economics of Mutual Fund Markets: Competition Versus Regulation. Kluwer, Boston, MA.
4. Beaver, W. (1970). 'The time series behavior of earnings', Empirical Research in Accounting: Selected Studies, supplement to Journal of Accounting Research, 8, pp. 62-89.
5. Bond, R. and D. Lean (1977). Sales, Promotion, and Product Differentiation in Two Prescription Drug Markets. Federal Trade Commission, Washington, DC.
6. Brown, C. and J. Lattin (1994). 'Investigating the relationship between time in market and pioneering advantage', Management Science, 40(10), pp. 1361-1369.
7. D'Aveni, R. (1994). Hypercompetition: The Dynamics of Strategic Maneuvering. Free Press, New York.
8. D'Aveni, R. (1995). 'Coping with hypercompetition: Utilizing the new 7S's framework', Academy of Management Executive, 9(3), pp. 45-57.
9. Day, G. and J. Freeman (1990). 'Burnout or fadeout: The risks of early entry into high technology markets'. In M. Lawless and L. Gomez-Mejia (eds), Strategic Management in High Technology Firms. JAI Press, Greenwich, CT, pp. 43-65.
10. Dean, J. (1969). 'Pricing pioneering products', Journal of Industrial Economics, 17, pp. 165-179.
11. Dermine, J. and L. Roller (1992). 'Economies of scale and scope in French mutual funds', Journal of Financial Intermediation, 2, pp. 83-93.
12. Dierickx, I. and K. Cool (1989). 'Asset stock accumulation and sustainability of competitive advantage', Management Science, 35, pp. 1504-1514.
13. Doan, T. (1992). RATS User's Manual, Version 4. Estima, Evanston, IL.
14. Ghemawat, P. (1986). 'Sustainable advantage', Harvard Business Review, 64(5), pp. 53-58.
15. Golder, P. and G. Tellis (1993). 'Pioneer advantage: Marketing logic or marketing legend?', Journal of Marketing Research, 30, pp. 158-170.
16. Gorecki, P. (1986). 'The importance of being first: The case of prescription drugs in Canada', International Journal of Industrial Organization, 4, pp. 371-395.
17. Granger, C. (1969). 'Investigating causal relations by econometric models and cross-spectral models', Econometrica, 37, pp. 424-438.
18. Hamel, G. and C. K. Prahalad (1994). Competing for the Future. Harvard Business School Press, Boston, MA.
19. Hatanaka, M. (1976). 'Several efficient two-step estimators for the dynamic simultaneous equations model with autoregressive disturbances', Journal of Econometrics, 4, pp. 189-204.
20. Huff, L. and W. Robinson (1994). 'The impact of leadtime and years of competitive rivalry on pioneer market share advantages', Management Science, 40(10), pp. 1370-1377.
21. Investment Company Institute (1987). Report on Mutual Fund Transfer Agent Trends and Billing Practices. Investment Company Institute, Washington, DC.
22. Itami, H. (1987). Mobilizing Invisible Assets. Harvard University Press, Cambridge, MA.
23. Jacobsen, R. (1988). 'The persistence of abnormal returns', Strategic Management Journal, 9(5), pp. 415-430.
24. Judge, G., R. C. Hill, W. Griffiths, H. Lutkepohl and T. Lee (1982). Introduction to the Theory and Practice of Econometrics. Wiley, New York.
25. Kerin, R., P. R. Varadarajan and R. Peterson (1992). 'First-mover advantage: A synthesis, conceptual framework, and research propositions', Journal of Marketing, 56, pp. 33-52.
26. Lambkin, M. (1988). 'Order of entry and performance in new markets', Strategic Management Journal, Summer Special Issue, 9, pp. 127-140.
27. Lambkin, M. (1992). 'Pioneering new markets: A comparison of market share winners and losers', International Journal of Research in Marketing, 9, pp. 5-22.
28. Lawless, M. and R. Fisher (1990). 'Sources of durable competitive advantage in new products', Journal of Product Innovation Management, 7, pp. 35-44.
29. Levinthal, D. and J. Myatt (1994). 'Co-evolution of capabilities and industry: The evolution of mutual fund processing', Strategic Management Journal, Winter Special Issue, 15, pp. 45-62.
30. Lieberman, M. and D. Montgomery (1988). 'First-mover advantages', Strategic Management Journal, Summer Special Issue, 9, pp. 41-58.
31. Lilien, G. and E. Yoon (1990). 'The timing of competitive market entry', Management Science, 36, pp. 568-585.
32. Lippman, S. and R. Rumelt (1982). 'Uncertain imitability: An analysis of interfirm differences in efficiency under competition', Bell Journal of Economics, 13, pp. 418-438.
33. MacMillan, I. (1988). 'Controlling competitive dynamics by taking strategic initiative', Academy of Management Executive, 2, pp. 111-118.
34. MacMillan, I. (1989). 'How long can you sustain a competitive advantage?' In L. Fahey (ed). The Strategic Planning Management Reader. Prentice-Hall, Englewood Cliffs, NJ, pp. 23-27.
35. Miller, A., W. Gartner and R. Wilson (1989). 'Entry order, market share, and competitive advantage', Journal of Business Venturing, 4, pp. 197-209.
36. Mitchell, W. (1991). 'Dual clocks: Entry order influences on incumbent and newcomer market share and survival when specialized assets retain their value', Strategic Management Journal, 12(2), pp. 85-100.
37. Mueller, D. (1977). 'The persistence of profits above the norm', Economica, 44, pp. 369-380.
38. Mueller, D. (1986). Profits in the Long Run, Cambridge University Press, Cambridge, U.K.
39. Oliva, T., D. Day and I. MacMillan (1988). 'A generic model of competitive dynamics', Academy of Management Review, 13(3), pp. 374-389.
40. Porter, M. (1985). Competitive Advantage: Creating and Sustianing Superior Performance. Free Press, New York.
41. Porter, M. (1996). 'What is strategy?', Harvard Business Review, 74(6), pp. 61-78.
42. Reed, R. and R. DeFillippi (1990). 'Causal ambiguity, barriers to imitation, and sustainable competitive advantage', Academy of Management Review, 15(1), pp. 88-102.
43. Robinson, W. (1988). 'Sources of market pioneer advantages: The case of industrial goods industries', Journal of Marketing Research, 25, pp. 87-94.
44. Robinson, W. and C. Fornell (1985). 'Sources of market pioneer advantages in consumer goods industries', Journal of Marketing Research, 22, pp. 305-317.
45. Rumelt, R. (1984). 'Towards a strategic theory of the firm'. In R. Lamb (ed). Competitive Strategic Management. Prentice-Hall, Englewood Cliffs, NJ, pp. 556-570.
46. Rumelt, R. (1987). 'Theory, strategy, and entrepreneurship'. In D. Teece (ed.), The Competitive Challenge: Strategies for Industrial Innovation and Renewal. Ballinger, Cambridge, MA, pp. 137-159.
47. Schmalensee, R. (1982). 'Product differentiation advantages of pioneering brands', American Economic Review, 72, pp. 349-365.
48. Sims, C. (1972). 'Money, income, and causality', American Economic Review, 62, pp. 540-552.
49. Sirri, E. and P. Tufano (1993a). 'Buying and selling mutual funds: Flows, performance, fees, and services', Harvard Business School working paper.
50. Sirri, E. and P. Tufano (1993b). 'Competition and change in the mutual fund industry'. In S. L. Hayes III (ed.), Financial Services: Perspectives and Challenges. Harvard Business School Press, Boston, MA, pp. 181-214.
51. Tufano, P. (1989). 'Financial innovation and first-mover advantages', Journal of Financial Economics, 25, pp. 213-240.
52. Urban, G., T. Carter, S. Gaskin and Z. Mucha (1986). 'Market share rewards to pioneering brands: An empirical analysis and strategic implications', Management Science, 32, pp. 645-659.
53. Van Horne, J. (1985). 'Of financial innovations and excesses', Journal of Finance, 40, pp. 621-631.
54. Wernerfelt, B. (1984). 'A resource-based view of the firm', Strategic Management Journal, 5(2), pp. 171-180.
55. Wernerfelt, B. (1991). 'Brand loyalty and market equilibrium', Marketing Science, 10, pp. 229-245.
56. Whitten, I. (1979). Brand Performance in the Cigarette Industry and the Advantage to Early Entry, 1913-1974. Federal Trade Commission, Washington, DC.
57. Williams, J. (1992). 'How sustainable is your competitive advantage?', California Management Review, 34, pp. 29-51.