Title

The decline of global market leaders

Date of this Version

1-1-2015

Document Type

Journal Article

Publication Details

Citation only

Tian, X., & Slocum, J.W. (2015). The decline of global market leaders. Journal of World Business, 50(1), 15-25.

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Copyright © 2014 Elsevier Inc. All rights reserved.

2015 HERDC submission

ISSN

1090-9516

Abstract

Integrating capability-based and institution-based views in a multilevel framework, we argue that managerial capability to acquire loans to finance business expansion has an inverted U-shaped relationship with global market leadership. The negative effect on global market leadership of excessive loan-acquiring capability is amplified under business-friendly market institutions that ease access to credit. Managerial capability to utilize resources productively positively moderates the relationship between loan-acquiring capability and global market leadership. The role of resource-utilizing capability is attenuated under business-friendly market institutions that facilitate overinvestment. The study helps explain recent decline of global market leaders in advanced market economies.

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This document has been peer reviewed.