Does an Imitation Strategy Promote Long-Term Firm Growth in a Dynamic Environment? A Meta-Analysis

Abstract

The increasing number of successful latecomer enterprises has led to a growing research interest in the area, but there is a lack of consensus in academic circles on the relationship between imitation strategy and firm growth. While some enterprises achieved sustainable growth based on an imitation strategy, others withdrew from the market soon after their initial market entry. In this context, this meta-analysis synthesizes empirical findings including 23 independent samples (N = 66,110) to obtain evidence and explore the extent to which an imitation strategy affects firm growth. Moreover, by further examining the moderating effects of industry conditions, country-specific factors, and performance time horizons, this research also aims to address a complementary research question: in which context is imitation strategy more beneficial for the firm growth? We found that an imitation strategy is more effective in promoting firm growth in low-tech industries than in high-tech industries and in non-OECD countries than in OECD countries. It fosters the short-term performance rather than the long-term performance of a firm. Our research findings are meaningful for enterprises to choose an appropriate imitation strategy according to their unique attributes, enabling sustainable growth in a dynamic environment.