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作者：Baer, Markus; Dirks, Kurt T.; Nickerson, Jackson A.
作者单位：Washington University (WUSTL)
摘要：Before a strategy can be developed, the problem it is supposed to address needs to be formulated. We establish the microfoundations of strategic problem formulation by developing a theory that predicts a core set of impediments to formulation that arise when complex, ill-structured problems are addressed by heterogeneous teams. These impediments fundamentally constrain and narrow problem formulation, thereby limiting solution search and potential value creation. We establish these impediments ...
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作者：Hadani, Michael; Schuler, Douglas A.
作者单位：Long Island University; Long Island University Post; Rice University
摘要：Although many believe that companies' political activities improve their bottom line, empirical studies have not consistently borne this out. We investigate the relationship between corporate political activity (CPA) and financial returns on a set of 943 S&P 1500 firms between 1998 to 2008. We find that firms' political investments are negatively associated with market performance and cumulative political investments worsen both market and accounting performance. Firms placing former public of...
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作者：Sosa, M. Lourdes
作者单位：University of London; London Business School
摘要：The creative destruction literature has argued that differences in R&D performance of incumbent vs. entrant firms can be explained through organizational change theories about established vs. de novo firms. A disconnect exists between these theories and the available empirical evidence because often the best performing firms are established firms as well. I propose to resolve this disconnect by distinguishing between market incumbency (presence in a market prior to a discontinuity) and organiz...
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作者：Posen, Hart E.; Lee, Jeho; Yi, Sangyoon
作者单位：University of Wisconsin System; University of Wisconsin Madison; Seoul National University (SNU); University of Southern Denmark
摘要：We examine the power and limitations of imitation. Naive intuition may hold that the efficacy of imitation would be diminished by imperfections in copying high-performing firms. Employing a computational model, we study the dynamics of imitation when firms are subject to bounded rationality that limits their ability to copy the market leader. We find that imperfect imitation can generate unexpectedly good outcomes for follower firmsindeed, better than the outcomes achieved if they were perfect...
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作者：Kor, Yasemin Y.; Mesko, Andrea
作者单位：University of South Carolina System; University of South Carolina Columbia
摘要：This paper contributes to the understanding of the executive team dynamic managerial capabilities by developing theory about the interplay between the firm's dominant logic and dynamic managerial capabilities (including managerial human capital, social capital, and cognition). We underscore the criticality of the two key CEO-level functions: configuration and orchestration of senior executive team dynamic capabilities. We develop theory on how these functions create and sculpt the management t...
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作者：Xia, Jun; Li, Sali
作者单位：West Virginia University; University of Wisconsin System; University of Wisconsin Milwaukee
摘要：Resource dependence theory has been widely applied to explain interindustry acquisitions, but little is known about how external and internal dependence conditions affect the divestiture of formerly acquired subunits. We argue that subunit divestiture may be a strategic response to mutual dependence and subunit power following acquisition. Our results, based on a sample of divested subunits by U.S. public firms, show that mutual dependence and increased subunit power both reduce the hazard of ...
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作者：Denrell, Jerker; Fang, Christina; Zhao, Zhanyun
作者单位：New York University; Rider University; University of Warwick
摘要：To what extent can one infer that superior capabilities are driving sustained superior performance? Modeling performance as some combination of differences in capabilities and processes of cumulative advantage, we argue that a Bayesian framework in which decision makers take into account the differences in cumulative advantage provides for a correct inference. We show, using both simulated and real performance data, that the Bayesian method gives rise to estimates relevant for the inference pr...
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作者：Gaur, Ajai S.; Malhotra, Shavin; Zhu, Pengcheng
作者单位：Rutgers University System; Rutgers University New Brunswick; Rutgers University Newark; Toronto Metropolitan University; University of the Pacific
摘要：To examine the impact of acquisition announcements on the stock market returns of rivals of the acquiring firms, we propose a growth probability hypothesis: when an acquisition is announced, it signals the potential for future growth in the acquirer's industry to the market, resulting in positive stock market reactions to rivals of the acquiring firms. We test the growth probability hypothesis with a longitudinal sample of Chinese domestic and cross-border acquisitions during 19932008. The res...
