Abstract Some scholars argue that firms within the same industry engage in similar foreign investment behavior irrespective of nationality because they face a common set of pressures and incentives. Others emphasize the persistent diversity in business practices and behavior of firms from different nations as they invest abroad. Using the hard disk drive industry as a case, this paper explores whether nationality or industry has the greater influence on global strategy and whether it affects industry performance. The findings suggest that firms from the same nation are likely to adopt similar global strategies initially, but that, over time, the industry as a whole converges on the same blueprint for action. At the same time, however, strategic focus and organizational characteristics moderate national influences: firms from the same nation are more likely to adopt the same global strategy if they compete in the same product segment and are of similar size and age. The evidence also indicates that the national industry that is first to select what becomes the dominant strategy acquires an advantage over competitors from other countries. Copyright © 2001 John Wiley & Sons, Ltd.
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