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作者：Chatain, Olivier; Zemsky, Peter
作者单位：University of Pennsylvania; INSEAD Business School
摘要：We use a formal value-based model to study how frictions-incomplete linkages in the industry value chain that keep some parties from meeting and transacting-affect value creation and value capture. Frictions arise from search and switching costs and moderate the intensity of industry rivalry and the efficiency of the market. We find that firms with a competitive advantage prefer industries with less, but not zero, frictions. We show that rivalry interacts nontrivially with other competitive fo...
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作者：Wiersema, Margarethe F.; Zhang, Yan
作者单位：University of California System; University of California Irvine; Rice University
摘要：While poor firm performance has been shown to be a predictor of CEO dismissal, little is known about the role of external constituents on the board's decision to dismiss the firm's CEO. In this study, we propose that investment analysts, as legitimate third-party evaluators of the firm and its leadership, provide certification as to the CEO's ability, or lack thereof, and thus help reduce the ambiguity associated with the board's evaluation of the CEO's efficacy. In addition, the board tends t...
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作者：Pe'er, Aviad; Gottschalg, Oliver
作者单位：New York University; Hautes Etudes Commerciales (HEC) Paris
摘要：This paper advances the debate concerning the relationship between politics and business conduct by investigating the influence of the institutional context on leveraged buyout investments. We propose that the formal and informal institution context in 'red' states (those dominated by the U. S. Republican Party) is more aligned with the principal strategies through which leveraged buyout investors create value than such a context is in 'blue' states (those dominated by the Democratic Party). T...
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作者：Drnevich, Paul L.; Kriauciunas, Aldas P.
作者单位：Purdue University System; Purdue University; University of Alabama System; University of Alabama Tuscaloosa
摘要：Strategy scholars have argued that capabilities can influence firm performance through a variety of means and mechanisms. However, the role of capabilities and their proposed contributions have been narrowly theorized and insufficiently tested. We contribute to resolving these issues by considering the conditions under which ordinary and dynamic capabilities contribute to higher relative firm performance. We do so by examining the positive and negative contributions of capabilities to relative...
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作者：El Akremi, Assaad; Mignonac, Karim; Perrigot, Rozenn
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Centre National de la Recherche Scientifique (CNRS); Universite de Rennes; Universite de Rennes; ESC Rennes School of Business
摘要：This paper explores social processes between franchisees as a way to control franchisee opportunism. Based on the literature of socio-psychological and interorganizational relationships, we argue that cohesion among franchisees is negatively associated with opportunistic behaviors that are potentially harmful to the whole chain. We use multilevel and multisource data to show that perceptions of cohesion among franchisees relate both to a) how franchisees apply know-how from franchisors (i.e., ...
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作者：Joshi, Amol M.; Nerkar, Atul
作者单位：University of Hawaii System; University of Hawaii Manoa; University of North Carolina; University of North Carolina Chapel Hill
摘要：Research and development (R&D) consortia are specialized strategic alliances that shape the direction and scope of firm innovation activities. Little research exists on the performance consequences of participating in R&D consortia. We study the effect of patent pools, a unique form of R&D consortia, on firm performance in innovation. While prior research on alliances generally implies that patent pools enhance firm innovation, our study finds the opposite. Analyzing data on systemic innovatio...
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作者：Mitchell, J. Robert; Shepherd, Dean A.; Sharfman, Mark P.
作者单位：Western University (University of Western Ontario); University Western Ontario Hospital; Indiana University System; Indiana University Bloomington; IU Kelley School of Business; University of Oklahoma System; University of Oklahoma - Norman
摘要：While decision makers in organizations frequently make good decisions rooted in stable and consistent preferences, such consistency in outcomes is not always the case. In this study, we adopt a psychological perspective of judgment to investigate managers' erratic strategic decisions, which we define as a manager's inconsistent judgments that can shape the direction of the firm. In a study of 2,048 decisions made by 64 CEOs of technology firms, we examine how both metacognitive experience and ...
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作者：Lumineau, Fabrice; Malhotra, Deepak
作者单位：University of Technology Sydney; Harvard University
摘要：This paper investigates how contract structure influences interfirm dispute resolution processes and outcomes by examining a unique dataset consisting of over 150,000 pages of documents relating to 102 business disputes. We find that the level of contract detail affects the type of dispute resolution approach that is adopted when conflict arises, and that different approaches are associated with different costs for resolving the dispute. We also find that the effect of contract choice on dispu...
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作者：Chatain, Olivier
作者单位：University of Pennsylvania
摘要：The value-based approach to strategy argues that a firm's ability to capture value depends on the extent of its added value. In this paper, I empirically test the link between added value and value capture using a longitudinal dataset of United Kingdom law firm performance, capabilities, and client relationships. In this setting, competitors relevant for defining a firm's added value are those that share a client with the firm. Further, within a client relationship, value creation, and hence a...
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作者：Kumar, M. V. Shyam
作者单位：Rensselaer Polytechnic Institute
摘要：Are joint ventures (JVs) characterized mainly by cooperative behavior or noncooperative behavior? In this research, we address this question by examining the interrelationship between the values created for two partners when they announce a JV. We argue that, on average, if cooperative behavior and common benefits are more influential than noncooperative behavior and private benefits, there will be a positive association between the values created for the two partners. Conversely, if private b...
