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作者：Somaya, D
作者单位：University System of Maryland; University of Maryland College Park
摘要：Settlement outcomes in patent litigation are modeled as resulting from strategies pursued by firms with their patented technologies. Hypotheses are derived for two types of influences: the use of patents as isolating mechanisms to protect valuable strategic stakes, and their 'defensive' role in obtaining access to external technologies through mutual hold-up. Parameter estimates from a sample selection probit model provide support for the strategic stakes hypotheses, while the evidence for mut...
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作者：Powell, TC
摘要：Strategy research explains why some firms outperform others, typically using profit rates, shareholder returns, and other continuous dependent variables. This paper investigates winning as the dependent variable, as measured by distributions of annual industry leadership in profits and returns to investors. This shift in dependent variable introduces alternative null models of competitive parity, including skew distributions derived from the natural sciences, and empirical distributions from n...
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作者：Chatterjee, S; Harrison, JS; Bergh, DD
作者单位：University System of Ohio; Case Western Reserve University; Cornell University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Hostile takeover attempts oftentimes signal that a target firm has an over-diversified and ineffective corporate strategy. What does this signal mean when takeover attempts fail? Drawing from agency theory, we argue that target firms managed by independent directory boards are likely to ignore the takeover attempt and not refocus their firms' strategy. Conversely, target firms managed by nonindependent boards are more likely to view the failed takeover attempt as a 'wake-up call' and will refo...
