The strategy choice of incumbents in traditional industries in the context of cross-border co-opetition:market competition or innovation competition?
In the context of disruptive technology"cross-border looting"and industrial integration,the incumbent of traditional industries may strive for opportunities to implement industrial integration,and then reach coopetition with Substitute entrants,so as to alleviate or even reverse the passive situation.However,the coopetition between entrants and incumbents is not a long-term and stable strategic alliance.Incumbent enterprises how to grasp the strategic opportunities of coopetition,reverse the unfavorable situation under the Substitute enter,and complete the transformation and upgrading and high-quality development is the key step of the transformation and upgrading strategy of Chinese manufacturing enterprises.Based on the panel data regression analysis of 83 listed companies in China's automobile manufacturing from 2011 to 2018,this paper discusses the impact of coopetition behaviors between incumbents and entrants on incumbents'market value,and the mediating mechanism of incumbents'market competition frequency and innovation frequency.The results show that after the incumbent and the alternative entrant reach a coopetition,both strategies of innovation competition and market competition can improve strategic performance,and innovation competition has a stronger effect on improving performance.The conclusion of this paper provides theoretical guidance from the perspective of coopetition for traditional manufacturing enterprises to learn to adopt disruptive innovation technology,integrate scientific and technological innovation and promote high-quality development.
EntrantsIncumbentsCoopetitionMarket competitionInnovation racing
NETL
NSTL
万方数据
