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| Opportunity Window, Legitimacy Threshold and Strategic Transformation of Internet Start-ups—A Case Study of Alipay from 2004 to 2019 |
| CHANG Qing，SUN Ning，ZHANG Qiang，ZHANG Lu |
| 1. Inner Mongolia University of Technology, Huhhot, China； 2. Zhongnan University of Economics and Law, Wuhan, China； 3. Renmin University of China, Beijing, China |
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Abstract This study through the longitudinal case study of Alipay from 2004 to 2019. This study investigates the process mechanism of Internet start-ups in the local context using opportunity windows to cross the legitimacy threshold and achieve strategic transformation. The research shows that:(1)The path characteristic of enterprise strategic transformation is the result of its constant use of situational advantage to cross the legitimacy threshold;(2)“legitimacy logic-behavioral logic-threshold crossing” constitutes the legitimacy threshold crossing mechanism, which is an effective way for enterprises to break through situational constraints and achieve strategic transformation. As a cognitive model, legitimacy logic drives enterprises to achieve strategic transformation by crossing the legitimacy threshold through the behavioral logic composed of strategic behaviors and dynamic capabilities.
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Received: 20 June 2019
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