S-Space College of Business Administration/Business School (경영대학/대학원) Dept. of Business Administration (경영학과) Seoul Journal of Business (SJB) Seoul Journal of Business Volume 11, Number 1/2 (2005)
How Does Competition Affect High-Tech Firms Time-to-Market Decision?
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- Issue Date
- Seoul Journal of Business, Vol.11 No.1, pp. 43-63
- hazard model ; time-to-market ; R&D race ; competition
- In fast-paced industries such as high-tech industry, time-to-market is
one of the key strategic decisions to be made. With competition, firms
not only need to consider market readiness but also should try to
optimize new product launch timing by balancing the tradeoff between
advantages and disadvantages of becoming a pioneer. Would a firm
compete head-to-head by accelerating the project, or wait and then
follow-up quickly after uncertainties clear up? The current paper
illustrates how we can examine this issue by introducing an empirical
modeling approach based on duration analysis. Specifically, a hazard
function approach is taken to analyze time-based competition, and the
proposed model demonstrates for the first time in the marketing
literature the possibility to capture the relational structure between two
competing hazard rates. Though the empirical question could not be
answered due to data availability, a Monte-Carlo simulation study
assures the usefulness of the model.
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