Mimetic entry and bandwagon effect: the rise and decline of international equity joint venture in China
研究了1990-2003年间外国企业在中国设立国际合资企业的从众现象，发现母国和东道国行业效应在兴衰期不对称，且跨国并购作为竞争策略在衰退期影响显著。
Abstract The rise and decline of foreign entry strategies in transition economies is an important yet largely overlooked issue in the literature. This study is a step toward filling this gap by examining how mimetic entry within reference groups and the emergence of a competing strategy affect the bandwagon phenomenon of a dominant strategy in the context of China, where international equity joint ventures (EJVs) used to be a dominant entry strategy among foreign firms in the 1990s. Findings from a sample of 1,123 EJVs formed in China's non‐restricted industries from 1990 to 2003 show that the impact of home and host‐country industry effects are not symmetric between the EJV rise and decline periods. Cross‐border merger and acquisition (M&A) as a competing strategy has an important impact during the EJV decline period but not the rise period. The interactive effects between EJV and M&A strategies occur only in the host‐country industries. We discuss such results and offer suggestions for future research. Copyright © 2007 John Wiley & Sons, Ltd.