
- P-ISSN 2586-2995
- E-ISSN 2586-4130
KDI Journal of Economic Policy. Vol. 46, No. 4, November 2024, pp. 73-92
https://doi.org/10.23895/kdijep.2024.46.4.73
This paper examines whether product pioneers differ from product followers in their decision to establish a new plant to product a new product, utilizing a firm-plant-product dataset for Korean manufacturing from 1990 to 1996. We find that followers are more likely to establish a new plant rather than utilize existing plants to product a product which is new to the plant. We also find that establishing a new plant is accompanied by a larger investment than utilizing existing plants. These results seem consistent with the existence of pioneer-to-follower learning spillovers, possibly in the sense that followers face less uncertainty about the future profitability of the new product.
개척자, 추종자, 학습파급효과, 불확실성, 투자, Pioneer, Follower, Learning Spillovers, Uncertainty, Investment
O11, O14, O31, O47