Using Bayesian methods in strategy research:: An extension of Hansen et al.

• 成果类型: Article
• 署名作者: Hahn, Eugene D.; Doh, Jonathan P.
• 署名单位: University System of Maryland; Salisbury University; Villanova University
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.539
• 发表日期: 2006
• 页码: 783-798
• 关键词: strategy methodology; Bayesian methods; resource-based view; ENTRY ORDER

摘要

Hansen, Perry, and Reese (2004) recently argued for and demonstrated the utility of Bayesian methods for research associated with the resource-based view (RBV) of the firm. In this paper, we propose that Bayesian approaches are highly relevant not only for strategy problems based on the RBV, but also to its extensions in the areas of dynamic capabilities and co-evolution of industries and firms. Further, we argue that Bayesian methods are equally applicable for a wide range of strategy research questions at both the micro- and macro-level. Bayesian techniques are especially useful in addressing specific methodological challenges related to firm- and individual-level effects, firm-level predictive results, precision with small samples, asymmetric distributions, and the treatment of missing data. Moreover, Bayesian methods readily permit the engineering and updating of more realistic, complex models. We provide a specific illustration of the utility of Bayesian approaches in strategy research on entry order and pioneering advantage to show how they can help to inform research that integrates micro- and macro-phenomena within a dynamic and interactive environment. Copyright (c) 2006 John Wiley & Sons, Ltd.