시나리오 접근법을 이용한 시장선점우위 규명과 시차효과 분석

초록

We focus on 16 pioneer startups that are listed in Fortune 500 from 1993 to 2003, which achieved remarkable performances within thirty years or less since their initial takeoff. In order to scrutinize their performance, this study performs an empirical study based on four business scenarios that are constructed with high and low values of firm level quality and exogenous market shock. According to the main findings, it is evident that the performance of the niche marketers is superior when their relative quality is high, and between the two types of shocks, the quality affects more to their performance. According to a dynamic panel GMM estimation, it is found that the size expansion of the niche marketers have two year lag effect on the relative quality variable and their profitability has three year lag effect. These empirical findings suggest that aggressive strategic investments for enhancing quality is strongly required for the success of recently established but rapidly growing niche marketers.

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