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作者：Stagni, Raffaele Morandi; Santalo, Juan
作者单位：Universidad Carlos III de Madrid; IE University
摘要：Research Summary: We show that multi-business firms pursuing technologically related diversification often face a paradox. While such strategies can yield superior financial performance through technological synergies, investors with limited attention tend to undervalue them due to their complexity. Using asset pricing methods, we find that these firms consistently outperform market expectations. The degree of mispricing depends on investor attention and the availability of information needed ...
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作者：Bort, James; Wiklund, Johan; Yu, Wei
作者单位：DePaul University; Syracuse University; National University of Singapore
摘要：Research SummaryThis study investigates how sales and employment growth shape employee job satisfaction in startups. Grounded in Penrosean growth theory and related literature, we propose an inverted U-shaped relationship, where excessive growth triggers the Penrose Effect and impairs employee job satisfaction. Analysis of multilevel data reveals modest support for this relationship in employment growth, which is stronger for firms undergoing rapid workforce expansion. Exploratory text analysi...
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作者：Lee, Jaemin; Luo, Xiaowei Rose; (Jay) Kim, Ji-Yub
作者单位：Korea University; INSEAD Business School; INSEAD Business School
摘要：Research SummaryWe explore how dominant coalitions' political goals influence firms' responses to performance feedback, introducing the concept of political slack. We propose that dominant coalitions use opportunities created by strong firm performance to make changes that reinforce their dominance while making defensive maneuvers to neutralize threats to their dominance posed by poor performance. A dominant coalition's ability to execute such strategic moves hinges on how much political slack...
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作者：Szerb, Anna; Furr, Nathan
作者单位：New York University; New York University Abu Dhabi; INSEAD Business School
摘要：Research SummaryResearch underscores the importance of innovation ecosystems-or the larger group of firms producing components and complements-to the ability of focal firms to create value with an innovation. However, how ecosystems emerge and evolve remains unexplored. In a question-based examination of the solar photovoltaic ecosystem, we observe that ecosystems emerge earlier than predicted through the transfer of ecosystem elements, in a process of re-specialization, and ecosystem roles fr...
