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作者：Testoni, Marco; Sakakibara, Mariko; Chen, M. Keith
作者单位：Tilburg University; University of California System; University of California Los Angeles
摘要：Research Summary We examine the effect of face-to-face interactions between acquirers and targets before the acquisition announcements on acquisition returns. We argue that frequent interactions increase the target management's trust in the acquirer and benefit the acquirer by mitigating competition in the bidding process. For a sample of U.S. domestic acquisitions, we use smartphone geolocational data to measure the movement of people between merging companies in the months before the announc...
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作者：Sen, Prothit; Puranam, Phanish
作者单位：Indian School of Business (ISB); INSEAD Business School
摘要：Research Summary We show that the existing alliance portfolio of a firm can impede the adoption of a new business practice. We analyze the private equity industry which features alliances in the form of deal syndication and has recently seen the rise of a novel investment practice: add-on deals. Using algorithm-supported induction, we first document robust empirical patterns using machine learning techniques, and then test the theory we construct to explain these patterns using standard econom...
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作者：Lo, Desmond (Ho-Fu); Zanarone, Giorgio; Ghosh, Mrinal
作者单位：Santa Clara University; Washington University (WUSTL); University of Arizona
摘要：Research Summary Buyer-supplier collaborations are plagued by multiple frictions-haggling, non-contractible adaptation, and resource appropriation. This article examines how contracts govern relationship-specific investment in the face of these frictions. In our model, investment increases the value the supplier creates for the buyer ex post by adapting a component to her needs. At the same time, specific investment exposes the supplier to haggling, while providing him with knowledge needed to...
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作者：Barrymore, Nathan; Dezso, Cristian L.; King, Benjamin C.
作者单位：University System of Maryland; University of Maryland College Park; University of Illinois System; University of Illinois Urbana-Champaign
摘要：Research Summary Career paths depend not only on individuals' own competitiveness but also on the competitiveness of others in a position to advocate for them. In this article, we study competitiveness when rewards accrue to another individual. In particular, we ask how female and male managers' competitiveness changes when rewards from competition accrue to their female or male proteges, relative to when they accrue to themselves. Using an experimental approach, we find that when rewards accr...
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作者：Kim, Min Jung; Shaver, J. Myles; Funk, Russell J.
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Minnesota System; University of Minnesota Twin Cities
摘要：Research Summary: An extensive body of research examines concentration levels (i.e., mass) of industry clusters; however, little attention is paid to their dynamics (i.e., motion). Understanding cluster dynamics is important because how clusters change over time may have implications for firm strategies and outcomes that are not attributable to cluster mass alone. To advance scholarship, we derive a theoretically grounded measure of cluster motion. Applying this measure to data on establishmen...
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作者：Gagliardi, Luisa; Mariani, Myriam
作者单位：Bocconi University; Bocconi University
摘要：Research Summary This study investigates the importance of early life training for people's leadership roles later in the workplace. We focus on team leaders in industrial research and analyze changes in team leadership after the abandonment of the military draft by the United States in 1973. This policy produced a twofold effect on leadership training opportunities: it eliminated the training provided during the draft and reduced the incentives to pursue long-term education to defer conscript...
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作者：Busenbark, John R.; Semadeni, Matthew; Arrfelt, Mathias; Withers, Michael C.
作者单位：University of Notre Dame; Arizona State University; Arizona State University-Tempe; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：Research contends that internal capital should be allocated in proportion to divisional performance, but scholars are often puzzled to find that managers do not adhere to this winner-picking approach. We argue this is because scholarship has not incorporated corporate-level factors that influence how corporate managers structure holistic capital allocation strategies. In this study, we build on the behavioral theory of the firm to focus on analyst performance projections for multidivisional co...
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作者：Zhang, Yuchen; Yang, Wei
作者单位：Tulane University; China Europe International Business School
摘要：Research Summary Problem formulation is central to recombinant invention, and problem complexity particularly shapes the process and outcome of knowledge recombination. However, research on the antecedents of problem complexity remains limited. This study examines how breakthrough inventions may serve as an important antecedent of the complexity of problems formulated by individual inventors. We propose that a breakthrough invention may facilitate inventors' appreciation of novel knowledge cou...
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作者：Abolfathi, Niloofar; Fosfuri, Andrea; Santamaria, Simone
作者单位：National University of Singapore; Bocconi University; Bocconi University
摘要：Research Summary: Across many industries, firms employ a conversion funnel business model to attract customers with basic and affordable products, generate lock-in, and then sell them more advanced and expensive products. We argue that this business model, coupled with high customer switching costs, results in a market outcome characterized by aggressive pricing and reduced profits. A sudden reduction in customer switching costs disrupts the conversion funnel and can eventually increase indust...
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作者：Stonig, Joachim; Schmid, Torsten; Mueller-Stewens, Gunter
作者单位：University of St Gallen; University of St Gallen
摘要：Research Summary Ecosystems represent a key challenge for established firms, shifting their focus from products to system-level collaboration around integrated value propositions. This longitudinal case study of a machine manufacturer reports how an established firm created an ecosystem to enhance its focal product. Drawing on an activity system lens, we develop a model how firms can achieve fit around an integrated value proposition through mutual adaptation of product and ecosystem activitie...
