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While the literature on corporate strategy has typically focused on examining diversification along the industry and geographical market dimensions, this study seeks to supplement previous research by introducing the concept of business model as a new way of thinking about diversification. Specifically, by integrating the literatures on business models, diversification, and acquisition strategy, we provide a conceptual analysis of how business model relatedness may influence performance implications of M&As. When business models among acquirers and targets are related, the sharing and transfer of superior resources may improve post-acquisition performance. In contrast, when business models among acquirers and targets are unrelated, internal and external identity conflicts may harm post-acquisition performance. Moreover, the conceptual framework developed in this study suggests that even if acquirers and targets are related in a product and geographical market sense, dissimilarities across business models may still harm post-acquisition performance. Overall, we suggest that using the recently emerged concept of business model may provide a new step in examining diversification decisions above and beyond the traditionally examined concepts of product and geographical markets, providing a more complete understanding of when and how multibusiness firms can create value.

Strategic literature has focused on how economies of scale in a firm offering outsourcing may generate incentives for clients to increase the outsourced services, but there has been limited research on how the clients’ features may influence the scope of services that they hire with an outsourcing provider. This study analyzes whether a client’s efficiency motivates it to increase ties with a specific provider of knowledge-intensive services in the context of business process outsourcing (BPO). We further explore whether industry conditions moderate the relationship.

A research framework is developed consisting of three main hypotheses. We combine industry data and proprietary and financial data from a longitudinal sample of 107 client firms of a multinational outsourcing service provider to test our hypotheses.

We find that more efficient firms hire more services from an outsourcing provider and that the munificence of the client firm’s industry positively moderates this relationship. Our results suggest that efficient clients can better keep transaction costs under control when accessing, assimilating, and exploiting the knowledge embedded in an expanded set of services provided by an outsourcing supplier.

This study extends the absorptive capacity perspective by showing that a client’s efficiency reinforces its opportunities to absorb knowledge-intensive services from a supplier when expanding the range of operations in the context of BPO.

During the 17th century, the Dutch Republic sought to project a positive global image centred around the principles of economic endeavour, moral stewardship and military resilience. By illustrating one way in which the country sought to communicate its international position, the paper aims to provide an early example of political diplomacy and reputation management.

Pictorial narratives provide an important but often underutilised insight into our cultural, social and economic history. As works of art were considered legitimate and authoritative forms of communication, their importance can lie beyond any aesthetic accomplishment. Using established iconographic techniques, this paper deconstructs and interprets the meaning contained within a specific genre painting, The Young Mother (1658) by Gerrit Dou.

Rather than being devoid of meaning, The Young Mother represents a narrative purposely constructed to symbolise the cultural, religious and economic character of the United Provinces. It celebrates success through global trade, innovation and enterprise while simultaneously reminding audiences of the country’s moral and spiritual foundations. Like the patriotic allegory of De Hollandse Maag protecting the sacred space of the hortus conclusus, the painting is a secular representation of the new Loca Sancta.

While acknowledging that The Young Mother has been praised for its visual qualities, this paper maintains that any broader political significance has been largely overlooked. The analysis and findings therefore offer original interpretations from which new conclusions are drawn.