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作者：Bromiley, Philip
作者单位：University of California System; University of California Irvine
摘要：This paper demonstrates that prospect theory's (PT) predictions differ dramatically from what strategy scholars have inferred. PT's value function predicts negative risk-return associations for high performers and positive for low performers, directly contrary to the strategy literature. In addition, PT's isolation assumption means most firm choices should appear as mixed gambles. Prior PT-based theorizing in strategy implicitly assumed that the firm faced unmixed gambles. Finally, it demonstr...
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作者：Siegel, Donald S.; Simons, Kenneth L.
作者单位：State University of New York (SUNY) System; University at Albany, SUNY; Rensselaer Polytechnic Institute
摘要：Empirical studies of mergers and acquisitions typically focus on firm-level financial performance. In contrast, we use human capital theory to model these events as transactions that simultaneously have cross-level, real effects on workers, plants, and firms. Our empirical analysis is based on longitudinal, linked employer-employee data for virtually all Swedish manufacturing firms and employees. We find that mergers and acquisitions enhance plant productivity, although they also result in the...
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作者：Lee, Chi-Hyon; Venkatraman, N.; Tanriverdi, Hueseyin; Iyer, Bala
作者单位：George Mason University; Boston University; University of Texas System; University of Texas Austin; Babson College
摘要：This study examines the hypercompetition phenomenon within the prepackaged software industry. It theoretically develops and empirically validates the idea that dynamically changing complementarity relationships among software product markets increase industry hypercompetition. The study also explains how dynamic capabilities for the management of complementary product markets can enable an independent software vendor (ISV) to create and renew temporary advantages. Specifically, an ISV can main...
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作者：Pacheco-de-Almeida, Goncalo
作者单位：New York University
摘要：This article examines how leader firms should respond to the erosion of competitive advantages caused by rapid imitation and innovation in hypercompetitive environments. On the one hand, shorter-lived advantages induce leaders to develop new advantages faster. On the other hand, hypercompetition also erodes the expected returns from new advantages-reducing leaders' incentives to accelerate investments. Since investing faster also raises costs, this article shows that leaders often prefer to re...
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作者：Chan, Christine M.; Makino, Shige; Isobe, Takehiko
作者单位：University of Hong Kong; Chinese University of Hong Kong; Keio University
摘要：This study examines the extent to which subnational regions can explain foreign affiliate performance in two host country settings, the United States and China, the world's two largest economies at polar ends of the economic spectrum (i.e., an advanced versus an emerging economy). Our results suggest that the subnational region is significant in explaining foreign affiliate performance, thus confirming its importance as an additional unit of analysis for firm performance. This study also shows...
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作者：Holburn, Guy L. F.; Zelner, Bennet A.
作者单位：Duke University; Western University (University of Western Ontario)
摘要：Whereas conventional wisdom holds that multinational enterprises (MNEs) invest less in host countries that pose greater policy risk-the risk that a government will opportunistically alter policies to expropriate an investing firm's profits or assets-we argue that MNEs vary in their response to host-country policy risk as a result of differences in organizational capabilities for assessing such risk and managing the policy-making process. We hypothesize that firms from home countries characteri...
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作者：Reitzig, Markus; Wagner, Stefan
作者单位：University of London; London Business School; University of Munich
摘要：Drawing on patent data for approximately 500 firms over 20 years, we advance recent theory on firm boundaries and test these propositions for the first time. We first provide evidence for the existence of knowledge complementarities between vertically related activities in a firm's value chain by showing that firms face increasing (decreasing) performance in conducting downstream activities (i.e., patent litigation) the less (more) they outsource related upstream activities (i.e., patent filin...
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作者：Harrison, Jeffrey S.; Bosse, Douglas A.; Phillips, Robert A.
作者单位：University of Richmond
摘要：A firm that manages for stakeholders allocates more resources to satisfy the needs and demands of its legitimate stakeholders than would be necessary to simply retain their willful participation in the firm's productive activities. We explain why this sort of behavior unlocks additional potential for value creation, as well as the conditions that either facilitate or disrupt the value-creation process. Firms that managed for stakeholders develop trusting relationships with them based on princi...
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作者：Cuervo-Cazurra, Alvaro; Un, C. Annique
作者单位：University of South Carolina System; University of South Carolina Columbia
摘要：In this paper we study the frequency of formal R&D investments. We link real options theory to the knowledge-based view to explain how a firm's knowledge resources influence its frequency of investing in R&D to establish technological options. Specifically, we propose that a firm that lacks internal knowledge resources is more likely to never invest in R&D, a firm that has both internal and external knowledge resources is more likely to sometimes invest in R&D, while a firm that has internal k...
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作者：Makri, Marianna; Hitt, Michael A.; Lane, Peter J.
作者单位：University of Miami; Texas A&M University System; Texas A&M University College Station; Mays Business School; University System Of New Hampshire; University of New Hampshire
摘要：Prior research on M&As and invention outcomes has not systematically examined the influence of two types of knowledge differences. Knowledge relatedness has typically been equated with knowledge similarity and the separate influence of knowledge complementarily has been overlooked. Similarly, studies examining innovation outcomes of M&As have typically focused on the role of technological knowledge and overlooked the influence of scientific knowledge. We develop a model of relatedness and inve...
