Market entry decisions are complex and involve high sunk costs with uncertain or risky outcomes. In this study we explore how the owner, firm, and competitive pressures shape this decision. Using a large UK data set of SMEs, we find that the preferred form of growth, and growth is not always desired, is expansion in existing markets. Key determinants of the decision to pursue a new market entry strategy are formal education, and large firm based market competition. Further, these decisions are made simultaneously not sequentially.
|Number of pages||20|
|Journal||International Review of Entrepreneurship|
|Publication status||Published - 2019|
Cowling, M., Liu, W., Yue, W., & Do, H. (2019). Market Consolidation, Market Growth, or New Market Development? Owner, Firm, and Competitive Determinants. International Review of Entrepreneurship, 17(1), 17-36. https://www.senatehall.com/entrepreneurship?article=624