The Impact of Exits from Foreign Markets on Entry Strategies

• Project/Area Number: 16H05953
• Research Category: Grant-in-Aid for Young Scientists (A)
• Allocation Type: Single-year Grants
• Research Field: Management
• Research Institution: Waseda University
• Principal Investigator: YAMANOI JUNICHI 早稲田大学, 商学学術院, 准教授 (20386543)
• Research Collaborator: Ueta Toshimitsu ; Horibe Naoki
• Project Period (FY): 2016-04-01 – 2019-03-31
• Project Status: Completed (Fiscal Year 2018)
• Budget Amount: ¥10,790,000 (Direct Cost: ¥8,300,000、Indirect Cost: ¥2,490,000); Fiscal Year 2018: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000); Fiscal Year 2017: ¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000); Fiscal Year 2016: ¥5,330,000 (Direct Cost: ¥4,100,000、Indirect Cost: ¥1,230,000)
• Keywords: 海外市場への進出 / 海外市場からの撤退 / 失敗からの学習 / 海外進出 / 海外撤退 / 参入形態 / 立地選択 / 多国籍企業 / 市場への再参入 / 組織学習 / 海外市場への参入 / 国際比較 / 海外市場への再参入 / 経営学 / 市場参入戦略 / 撤退経験

Outline of Final Research Achievements

I found that a firm's experience of exiting from foreign markets significantly decreases foreign market entries. The negative impact was moderated by the size of exits and the turnover rate of top management teams. The findings suggest that learning experience from foreign market exits would not necessarily be exploited for later entries because of managerial concerns about the same failures in foreign market entries.

Academic Significance and Societal Importance of the Research Achievements

本研究により、海外市場からの撤退の経験は、その後の海外市場への参入戦略に影響を与えうることが統計的分析により確認された。特に、撤退経験がもたらす学習と恐怖の二面性が存在し、それらに影響を与えうる要因、例えば撤退の規模やトップマネジメントチームの交代などにより、その後の海外市場への参入のあり方が異なることが確認された。撤退は多面的な側面を持つが、失敗という側面を強くとらえすぎると、せっかくの学習経験が生かされず、その後の参入が妨げられることになる可能性がある。

Research Products

• [Int'l Joint Research] Copenhagen Business School(デンマーク)
• [Int'l Joint Research] Binghamton University/University of Texas, Dallas(米国)
• [Presentation] Attentional Allocation and Firm Performance: The Interactive Effects of Product Diversification (2019)
  • Author(s): Yamanoi J., Shimizu T., and Nagayama, S.
  • Organizer: The 79th Annual Meeting of the Academy of Management
  • Int'l Joint Research
• [Presentation] The Impact of Attentional Focus on Firm Performance: The Interactive Effects of Product Diversification (2018)
  • Author(s): Nagayama, S, & Yamanoi, J.
  • Organizer: The 38th Annual Conference of the Strategic Management Society
  • Int'l Joint Research
• [Presentation] CEOs’ Religiosity and Corporate Environmental Proactivity (2018)
  • Author(s): Iguchi, H. & Yamanoi, J.
  • Organizer: The 38th Annual Conference of the Strategic Management Society
  • Int'l Joint Research
• [Presentation] Succession Expectations of Family CEOs and Investment Time Horizons. (2018)
  • Author(s): Iguchi, H. Yamanoi, J., & Katayama, H.
  • Organizer: The 78th Annual Meeting of the Academy of Management
  • Int'l Joint Research
• [Presentation] CEOs’ Religiosity and Corporate Environmental Proactivity (2018)
  • Author(s): Iguchi, H. Yamanoi, J., & Katayama, H.
  • Organizer: The 78th Annual Meeting of the Academy of Management
  • Int'l Joint Research
• [Presentation] Corporate misconduct in Japan: A conflict of corporate governance logics (2017)
  • Author(s): Aoki, H., Su, W., Yamanoi, J., & Tsang, E. W. K.
  • Organizer: The 76th Annual Meeting of the Academy of Management
  • Int'l Joint Research