기업 도태현상(Shakeout)속에서의 적응전략과 선택 메커니즘: 미국 자동차 시장을 대상으로
Strategy and Selection Mechanism under Shakeout : The Cases of US Automobile
There are many Shakeout phenomena in which the number of entrants in a newly created industry reaches a certain point, and the total number of companies suddenly decreases. On the other hand, according to the view of selection and adaptation of the evolutionary economics, the firm is an active entity that can be selected by the environment but can adapt to the market environment through adaptation efforts. The purpose of this study is to apply the concepts of adaptation and selection of evolutionary economics to product level analysis and expand it to the discussion of industry level as Shakeout. For this purpose, the US automobile market in 1905-1942 was divided into the Shakeout period and pre and post Shakeout period, and the adaptation strategy and the selection mechanism were analyzed using the Cox risk proportional model. As a result of the analysis, it was confirmed that product differentiation strategy in the Shakeout period enhances the survival probability and the product imitation strategy does in the rest of the period. It implies that it is important to form a Dominant Design through mutual imitation process before Shakeout while it is important to develop a unique product through product differentiation because it faces intense price competition when following Dominant Design in Shakeout period.
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