ENTRY ORDER, PERFORMANCE, AND GEOGRAPHY: THE CASE OF THE CONVENIENCE-STORE INDUSTRY IN JAPAN

• 成果类型: Article
• 署名作者: Nishida, Mitsukuni
• 署名单位: Johns Hopkins University
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.12742
• 发表日期: 2025
• 页码: 787-822
• 关键词: MARKET SHARE; empirical-analysis; spatial differentiation; wal-mart; advantage; MODEL; location; COMPETITION; selection; DYNAMICS

摘要

Entry-order effects on economic profits have not been extensively studied due to data limitations. This article empirically examines these effects on revenues and costs using a structural approach without requiring information on accounting profits and costs. Utilizing panel data from Japan's convenience-store industry, I apply a two-step estimator for many geographic markets. The results reveal that whereas early entrants gain 4.8% more revenue at the outlet level, subsequent entrants benefit from a 7.6% and 5.8% reduction in variable and expansion costs. Simulations suggest initial benefits from delayed entry, but these may dissipate over time, particularly in rapidly growing markets.