Abstract: Emerging giants are to seize opportunity window of a new round of technological change to make efforts to promote the enterprises’ catch-up process. But it also induced enterprises' “investment tide ”phenomenon in the catch-up process of strategic emerging industries. Based on the interaction effect between resources accumulation and entry timing, we will discuss timing mechanism and performance formation mechanism that the emerging giants’ enterprises enter the strategic emerging industries to catch up. And we will build the revenue and cost functions of the evolution of strategic emerging industries, and then make a comparative analysis on performance at different entry timing through mathematical model and simulation. Finally, we make an example of China's high-speed rail industry to analyze it. Studies have shown: (1)Internal resources and external environment influence enterprises’ choice of entry timing together . Thus, emerging giants’ enterprises should enter in chaotic period or formation period of dominant design of the strategic emerging industries. (2)But simply entry timing can not determine the enterprises’ performance, which means the enterprise also need to select appropriate strategic direction and catch-up path after entering strategic emerging industries to seek interaction effect between resources accumulation and entry timing that supporting the enterprises’ catching-up process. (3) In view of this, emerging giants’ enterprises with strong first-mover advantage should implement catch-up in the later chaotic period of he evolution of strategic emerging industries, and they should implement a complex technological breakthrough -oriented strategy. Emerging giants’ enterprises with weak first-mover advantage should implement catch-up in the infancy formation period of dominant design, and they should implement a complex market-oriented strategy.

Key words: strategic emerging industry, entry opportunity, catch-up performance, interaction effect