Abstract
Drawing on organization behavior theory, this study examines how inertia, collective rationality and their interactions affect firms' partner selection decisions in both emerging and mature market contexts. The empirical study, based on 9314 selections initiated by 61 firms of China in 2005 and 2011, reveals that inertia has a stronger effect than collective rationality in mature market, whereas has an insignificant difference with collective rationality in emerging market. The influences of inertia, collective rationality, and their interactions are also contingent on market phases. Specially, inertia has a stronger effect in mature market than in emerging market, so does the substitution effects of inertia and collective rationality. However, collective rationality has an insignificant difference in both two market phases.
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