-
作者：Cain, Daylian M.; Moore, Don A.; Haran, Uriel
作者单位：Yale University; University of California System; University of California Berkeley; Ben-Gurion University of the Negev
摘要：Entrepreneurs are often described as overconfident (or at least very confident), even when entering difficult markets. However, recent laboratory findings suggest that difficult tasks tend to produce underconfidence. How do entrepreneurs maintain confidence in difficult tasks? Our two laboratory experiments and one archival study reconcile the literature by distinguishing types of overconfidence and identifying what type is most prominent in each type of task. Furthermore, we critically examin...
-
作者：Lazzarini, Sergio G.
作者单位：Insper
摘要：Despite the prevalence of governmental action devised to foster firms and industries, the link between industrial policy (IP) and competitive advantage has received scant attention in strategic management. I propose a model where such a link is mediated by the accumulation and churning of local resources and capabilities. I also introduce the concept of support-adjusted sustainable competitive advantage (SASCA), which occurs if a firm's observed performance is superior to the expected performa...
-
作者：Ater, Itai; Rigbi, Oren
作者单位：Tel Aviv University; Ben-Gurion University of the Negev
摘要：This study investigates how franchising chains use advertising to enhance coordination and improve their control over prices set at franchised outlets. We argue that chains use price advertising to inform customers about their desired prices, thereby influencing franchisees to adopt the advertised prices although they are not contractually required to do so. We test our hypotheses using rich outlet-level price data collected before and after a U.S. nationwide advertising campaign by McDonald's...
-
作者：Keyhani, Mohammad; Levesque, Moren; Madhok, Anoop
作者单位：University of Calgary; York University - Canada; Vrije Universiteit Amsterdam
摘要：While strategy theory relies heavily on equilibrium theories of economic rents such as Ricardian and monopoly rents, we do not yet have a comprehensive theory of disequilibrium or entrepreneurial rents. We use cooperative game theory to structure computer simulations of the market process in which acts of creation and discovery disequilibrate and equilibrate the market over time. Using simulation experiments, entrepreneurial rents can be isolated from structural rents by keeping initial struct...
-
作者：Rockart, Scott F.; Dutt, Nilanjana
作者单位：University of North Carolina; University of North Carolina Chapel Hill; Bocconi University
摘要：This paper examines differences in the rate and potential of firms' capability development trajectories. Capability development trajectories are the paths over which firms' capabilities change with experience and other activities. While prior research focused on factors affecting capability development rate (the fraction of the gap between a firm's current and potential capability eliminated with each unit of activity), we argue that capability development trajectories also differ in potential...
-
作者：Chen, Chien-Ming; Delmas, Magali A.; Lieberman, Marvin B.
作者单位：Nanyang Technological University; University of California System; University of California Los Angeles; University of California System; University of California Los Angeles
摘要：The measurement of corporate performance is central to strategic management research. A common objective of this research is to identify top performers in an industry and their sources of competitive advantage. Despite this focus on best firms and practices, most researchers utilize statistical methods that identify average effects in a sample, and they assess a single performance dimension while ignoring other relevant dimensions. Emphasis on purely financial measures can overlook the fact th...
-
作者：Garcia-Castro, Roberto; Aguilera, Ruth V.
作者单位：University of Navarra; IESE Business School; University of Illinois System; University of Illinois Urbana-Champaign; Universitat Ramon Llull; Escuela Superior de Administracion y Direccion de Empresas (ESADE)
摘要：There is a renewed interest among strategy scholars in the relationship between stakeholder theory and the dynamics of value creation-appropriation in firms. Further advancements in this field are arguably impeded by an incomplete conceptualization and measurement of value and by scant characterization of the different patterns of stakeholder value appropriation. We develop a conceptual frameworkbased on an analytical taxonomy of value creation and appropriationconsistent with a more complete ...
-
作者：Feldman, Emilie R.; Montgomery, Cynthia A.
作者单位：University of Pennsylvania; Harvard University
摘要：Agency theory predicts that incentives will align agents' interests with those of principals. However, the resource-based view suggests that to be effective, the incentive to deliver must be paired with the ability to deliver. Using Fortune 500 boards as an empirical context, this study shows that the presence of directors who lack top-level experience but own large shareholdings is negatively associated with firm value, an effect that increases in the number of such directors. Firm value rise...
-
作者：Luo, Xueming; Wang, Heli; Raithel, Sascha; Zheng, Qinqin
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; Singapore Management University; University of Munich; Fudan University
摘要：This study posits that security analysts heed corporate social performance information and factor it into their recommendations to general investors. In particular, as corporate social performance is often uncertain and ambiguous to general investors, analysts may serve as the informational pathway connecting corporate social performance to firm stock returns. Thus, we argue that analyst recommendations mediate the relationship between corporate social performance and firm stock returns. On th...
-
作者：Gambardella, Alfonso; Panico, Claudio; Valentini, Giovanni
作者单位：Bocconi University
摘要：Motivating human capital in knowledge-intensive activities is a serious managerial challenge because it is difficult to link rewards to actions or performance. Firms instead might motivate knowledge workers by offering them opportunities to increase personal benefits (e.g., learning, satisfaction) through autonomy in the decision-making process. Our model shows that firms can offer less autonomy in projects closer to their core business: Because firm specialization raises the value of the proj...
