本文檢視經理人的外部連結對進入新興行業之廠商的表現差異影響。從1983 年至1998 年間進入美國手機通訊服務業公司的實證，本文得到以下發現。首先，經理人與產業 協會之連結會正向調節經理人的產業內經驗對公司手機用戶成長的影響。但這種正向 的調節作用會隨著產業年齡增長而下降。其次，經理人與同業競爭者之連結也會正向 調節經理人的產業內經驗對公司手機用戶成長的影響，而且此正向調節作用不會隨產 業年齡而改變。最後，經理人的產業外連結不具前述調節作用。

This paper examines the impact of managerial ties on the performance difference among entrants in an emerging industry. Empirical findings from firms that entered the cellularphone service industry between 1983 and 1998 suggest the following. First, managers’ ties to an intra-industry association positively moderated the relationship between managers’ intraindustry experience and an entrant’s new subscribers at the early stage of the focal industry; however, this effect decreased as the industry aged. Second, managers’ ties to intra-industry competitors positively moderated the relationship between managers’ intra-industry experience and an entrant’s new subscribers regardless of industry age. Finally, mangers’ external ties to other firms outside the industry exhibited no moderating impact.