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Why wait? Organizational learning, institutional quality and the speed of foreign market re-entry after initial entry and exit

Surdu, I., Mellahi, K., Glaister, K. W. and Nardella, G. (2018) Why wait? Organizational learning, institutional quality and the speed of foreign market re-entry after initial entry and exit. Journal of World Business, 53 (6). pp. 911-929. ISSN 1090-9516

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To link to this item DOI: 10.1016/j.jwb.2018.07.008

Abstract/Summary

Using a unique dataset of over 1,000 foreign market re-entries by multinational enterprises, we draw on organizational learning and institutional theory perspectives to examine the antecedents of speed of foreign market re-entry into previously exited markets. Contrary to expectations, we find that the length of experience accumulated between initial entry and exit does not lead to earlier re-entries. In turn, the depth of experience accumulated through operating via joint ventures and the nature of the experience determined by the exit process have a significant impact for early re-entrants. Host country institutional quality leads to early re-entry and, under certain circumstances, moderates the relationship between learning from past experiences and re-entry speed. Our findings reveal experience-based learning to be a complex and dynamic process, one highly dependent on the quality of the institutional setting of the firm. Theoretical and practical implications of the paper are discussed, along with directions for future research on international business strategies.

Item Type:Article
Refereed:Yes
Divisions:Henley Business School > International Business and Strategy
ID Code:78471
Uncontrolled Keywords:Keywords: foreign market re-entry speed; exit; time-out; learning; experience; institutional theory
Publisher:Elsevier

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