Umfelddynamik, Markteintrittsformen und Markteintrittszeitpunkt in der Chinastrategie

Abstract

Based on a description of the rapid and ‘turbulent’ changes of the Chinese pharma environment the article analyses the entry of the multinational pharmaceutical industry into the Chinese pharma market in the period 1980–1996. It proposes that the entry process will by and large be completed by the year 2000. Two key aspects of the entry process are investigated in depth: the mode and the timing of entry. Entry modes include the export-oriented entry in two stages, ‘partnershipjoint ventures’ and joint ventures with dominant foreign ownership. Apart from general environment changes firm preferences, different risk taking behaviour, host-country restrictions and varying bargaining power of the Chinese authorities are identified as key determinants for the eventual emergence of a particular mode. Early mover companies enjoyed considerable time-based competitive advantages which were, however, occasionally ‘bought’ with very high ‘sunk cost’. Late movers which began to enter the market after 1990 can exploit,free-rider effects’ and imitate successful behaviour of the early movers.