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Fast‐mover advantages: Speed capabilities and entry into the emerging submarket of atlantic basin LNG

Author

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  • Ashton Hawk
  • Gonçalo Pacheco‐De‐Almeida
  • Bernard Yeung

Abstract

Entry timing benefits and costs typically vary with firms' capabilities. In this study, we empirically examine the entry timing implications of firms' intrinsic speed capabilities, which refer to the ability to execute investment projects faster than competitors. We hypothesize that firms with intrinsic speed capabilities face low preemption risks and, thus, can afford to wait longer for uncertainty resolution before deciding to enter new markets. This hypothesis is more applicable when investment is associated with higher levels of commitment and, thus, greater option value of waiting. A direct implication is that late entrants with intrinsic speed capabilities should have greater expected post‐entry performance. We find support for these hypotheses in the Atlantic Basin liquefied natural gas (LNG) industry from 1996 to 2007. Copyright © 2013 John Wiley & Sons, Ltd.

Suggested Citation

  • Ashton Hawk & Gonçalo Pacheco‐De‐Almeida & Bernard Yeung, 2013. "Fast‐mover advantages: Speed capabilities and entry into the emerging submarket of atlantic basin LNG," Strategic Management Journal, Wiley Blackwell, vol. 34(13), pages 1531-1550, December.
    • Handle: RePEc:bla:stratm:v:34:y:2013:i:13:p:1531-1550
    DOI: 10.1002/smj.2085
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    Cited by:

    1. Arpine Martirosyan & Jae Wook Yoo, 2025. "The Effect of Ownership Concentration on the Catch-Up Speed of the Second Mover: Evidence From the Pharmaceutical Industry of South Korea," SAGE Open, , vol. 15(2), pages 21582440251, May.
    2. Zhuang Guo & Yi Xie, 2025. "Impact of internal and external corporate social responsibility on internationalization speed: Evidence from Chinese multinational enterprises," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(1), pages 481-505, January.
    3. Xuege (Cathy) Lu & Hyeonsuh Lee & Ryan Coles, 2023. "Move Fast and Break Things? The Contingent Nature of Product Acceleration in Nascent Markets," Strategy Science, INFORMS, vol. 8(4), pages 484-507, December.
    4. Randall Morck & Bernard Yeung & Lu Zhang, 2022. "Investors Meet Dynamic Strategy," Strategy Science, INFORMS, vol. 7(2), pages 120-129, June.
    5. Vinit Desai & Peter Madsen, 2022. "Take Your Time? How Activity Timing Affects Organizational Learning and Performance Outcomes," Organization Science, INFORMS, vol. 33(5), pages 1707-1723, September.
    6. Daniel A. Levinthal, 2021. "From Arms to Trees: Opportunity Costs and Path Dependence and the Exploration-Exploitation Tradeoff," Strategy Science, INFORMS, vol. 6(4), pages 331-337, December.

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