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作者：Greenstein, Shane
作者单位：Harvard University
摘要：Research summary: The experience of Encyclopaedia Britannica provides the canonical example of the decline of an established firm at the outset of the digital age. Competition from Microsoft's Encarta in 1993 led to sharp declines in the sales of books, which led to the distressed sale of the firm in 1996. This article offers new source material about the actions at both Encarta and Britannica, and it offers a novel interpretation of events. Britannica's management did not misperceive the oppo...
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作者：Lieberman, Marvin B.; Lee, Gwendolyn K.; Folta, Timothy B.
作者单位：University of California System; University of California Los Angeles; State University System of Florida; University of Florida; University of Connecticut; Universites de Strasbourg Etablissements Associes; Universite de Strasbourg
摘要：Research summary: Combining the concept of resource relatedness with the economic notion of sunk costs, we assess how the potential for resource redeployment affects market entry and exit by multi-business firms. If the performance of a new business falls below expectations, a diversified firm may be able to redeploy its resources back into related businesses. In effect, relatedness reduces the sunk costs associated with a new business, which facilitates exit. This, in turn, has implications f...
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作者：Wasserman, Noam
作者单位：Harvard University; University of Southern California
摘要：Research summary: Does the degree to which founders keep control of their startups affect company value? I argue that founders face a control dilemma in which a startup's resource dependence drives a wedge between the startup's value and the founder's ability to retain control of decision making. I develop hypotheses about this tradeoff and test the hypotheses on a unique dataset of 6,130 American startups. I find that startups in which the founder is still in control of the board of directors...
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作者：Lee, Sunkee; Puranam, Phanish
作者单位：Carnegie Mellon University; INSEAD Business School
摘要：Research summary: Separating the individual from the social effects of incentives has been challenging because of the possibility of synergies in team production. We observe a unique natural experiment in a South Korean e-commerce company in which a switch from pay-for-performance to fixed (but different) salaries took place in a staggered and effectively random manner across employees. In this case, social and individual effects perspectives make opposing predictions, enabling a critical test...
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作者：Ethiraj, Sendil K.; Gambardella, Alfonso; Helfat, Constance E.
作者单位：University of London; London Business School; Bocconi University; Dartmouth College
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作者：Bennett, Victor M.; Levinthal, Daniel A.
作者单位：Duke University; University of Pennsylvania
摘要：While the economic advantages of scale are well understood, implications of the rate of firm growth are arguably less appreciated. Since firms' growth rate influences employees' promotion opportunities, the growth rate can have significant implications for the incentives employees face. Rapid growth, by creating more promotion opportunities, motivates employees to engage in extra-role behaviors that might result in promotion should an opportunity arise. Building on this argument, we develop a ...
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作者：Hu, Songcui; He, Zi-Lin; Blettner, Daniela P.; Bettis, Richard A.
作者单位：University of Arizona; Tilburg University; Simon Fraser University; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：Research summary: Behavioral Theory highlights the crucial role of social comparisons in attention allocation in adaptive aspirations. Yet, both the specification of social reference points and the dynamics of attention allocation have received little scholarly examination. We address performance feedback from two social reference points relative to divisions in multidivisional firms: economic reference point and political reference point. Comparing divisional performance with the two referenc...
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作者：Moeen, Mahka; Agarwal, Rajshree
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University System of Maryland; University of Maryland College Park
摘要：Research summary: We examine firms' technological investments during an industry's incubation stage-the period between a technological breakthrough and the first instance of its commercialization. Using the agricultural biotechnology context, we develop stylized findings regarding the understudied knowledge evolution preceding product evolution in an industry's life cycle, the trend and diversity of firms undertaking technological investments in anticipation of industry emergence, their levera...
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作者：Mcintyre, David P.; Srinivasan, Arati
作者单位：Providence College
摘要：Research summary: A substantial and burgeoning body of research has described the influence of platform-mediated networks in a wide variety of settings, whereby users and complementors desire compatibility on a common platform. In this review, we outline extant views of these dynamics from the industrial organization (IO) economics, technology management, and strategic management perspectives. Using this review as a foundation, we propose a future research agenda in this domain that focuses th...
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作者：Werner, Timothy
作者单位：University of Texas System; University of Texas Austin
摘要：Research summary: Citizens United v. Federal Election Commission and subsequent developments created a covert channel for firms to allocate resources from corporate treasuries to political activity. Through the use of a financial market event study of an accidental disclosure of firms' contributions to a Republican nonprofit organization, I examine investors' reactions to covert investment in independent political expenditures. I find that, on average, contributing firms experienced positive a...
