Learning to Time Capacity Expansions : An Empirical Analysis of The Worldwide Petrochemical Industry, 1975 - 95  

Oleh:

Henderson, James ; Cool, Karel

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 24 no. 5 (2003), page 393-414.
Topik: INDUSTRY; competitive decision making; learning; capacity expansion

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.11 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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This paper examines how firms may learn to better time their capacity expansion decisions through their own and their rivals' past experiences. A review of the literature shows that there may be several reasons for firms to bunch their capacity additions or "hop on an investment bandwagon". These reasons include coordinating through maintaining market shares, information effects, and decision - making biases. Given the substantial evidence of organizational learning, firms may be expected to improve their timing skills of capacity additions through their previous capacity expansion experience. Hypotjeses are developed both for proprietary learning and learning at the industry level and for forgetting. These hypotheses are tested on a database consisting of 72 companies operating in the petrochemicals industry in the united states, europe and japan from 1975 to 1995. The results indicate that learning in timing capacity expansion decisions coms primarily from within firms through an accumulation of their poor outcomes. However, this timing skils is far more apparent in greefield than incremental expansion decisions.

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