Exporting and firm performance: Market entry, investment and expansion

• 成果类型: Article
• 署名作者: Fabling, Richard; Sanderson, Lynda
• 署名单位: University of Waikato
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2012.08.008
• 发表日期: 2013
• 页码: 422-431
• 关键词: Exporting; Market entry; PRODUCTIVITY; INVESTMENT

摘要

This paper examines input and productivity dynamics of manufacturing firms in the period leading to and following export market entry. We examine 3 possible explanations for the observed productivity gap between exporting and non-exporting firms: self-selection of high-performing firms into exporting; post-entry learning effects; and joint export-investment decisions. We consider both initial entry into exporting and subsequent expansion into new destination markets, showing that capital deepening and employment growth are associated with both types of entry. However, the timing of investment differs between the 2 entry events. The observed dynamics are consistent with a model of investment under uncertainty, in which first-time exporters delay investment to gain more information about the success of their export ventures, while experienced exporters pre-commit to capital deepening in advance of additional market expansion. (C) 2012 Elsevier B.V. All rights reserved.