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Winner-take-all in International Markets? Performance Persistence of Social Platforms

Published online by Cambridge University Press:  15 January 2026

Yang Yang ,
Liang Chen Open the ORCID record for Liang Chen [Opens in a new window] ,
Jiang Wei  and
Yang Liu Open the ORCID record for Yang Liu [Opens in a new window]
Yang Yang*
Affiliation:
Zhejiang University, China
Liang Chen
Affiliation:
Singapore Management University, Singapore
Jiang Wei
Affiliation:
Zhejiang University of Finance & Economics, China
Yang Liu
Affiliation:
Zhejiang University, China
*
Corresponding author: Yang Yang; Email: yangyang611@zju.edu.cn
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Abstract

Strategy research has long linked sustained competitive advantage to barriers to imitation. We highlight network effects as an alternative mechanism and adopt a geotemporal perspective to theorize how firms sustain advantage as it unfolds over time in international markets. Our study examines this question through the performance persistence of social platforms, focusing on how institutional and demand-side conditions shape the sustainability of platforms’ competitive advantages. We propose that intellectual property rights protection may restrict the degree of freedom in information dissemination, dampening the role of network effects in sustaining superior performance, whilst demand heterogeneity may enhance the value of sizable network membership for information consumption. Evidence from a cross-country dataset of platforms supports these predictions. These findings enrich our understanding of how geographic variations shape the endurance of a platform’s competitive advantage over time, offering implications for both global strategy and platform governance.

摘要

摘要

战略研究长期以来将持续竞争优势与模仿障碍联系在一起。本文提出网络效应作为一种替代机制,并采用‘地理—时间’视角来解构企业如何在国际市场中随时间推移维持竞争优势的全过程。我们通过考察社交平台绩效的持续性来探讨这一问题,重点分析制度环境与需求侧条件如何影响平台竞争优势的可持续性。研究发现,东道国知识产权保护可能会限制信息传播的自由度,从而削弱网络效应在维持卓越绩效中的作用;相反,东道国的需求异质性可能会提升大规模网络成员在信息消费中的价值。基于跨国平台数据的实证分析支持了这些假设。我们的研究结果深化了大家对地理差异如何影响平台竞争优势持久性的理解,并为平台企业的全球战略与平台治理提供了新启示。

Keywords

demand heterogeneityintellectual property protectionnetwork effectsperformance persistenceplatform绩效持续性平台网络喜爱应知识产权保护需求异质性

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Article
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Management and Organization Review , First View , pp. 1 - 29
Copyright
© The Author(s), 2026. Published by Cambridge University Press on behalf of International Association for Chinese Management Research.

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