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Book part
Publication date: 1 August 2004

Harry P. Bowen and Margarethe F. Wiersema

Research on strategic choices available to the firm are often modeled as a limited number of possible decision outcomes and leads to a discrete limited dependent variable…

Abstract

Research on strategic choices available to the firm are often modeled as a limited number of possible decision outcomes and leads to a discrete limited dependent variable. A limited dependent variable can also arise when values of a continuous dependent variable are partially or wholly unobserved. This chapter discusses the methodological issues associated with such phenomena and the appropriate statistical methods developed to allow for consistent and efficient estimation of models that involve a limited dependent variable. The chapter also provides a road map for selecting the appropriate statistical technique and it offers guidelines for consistent interpretation and reporting of the statistical results.

Details

Research Methodology in Strategy and Management
Type: Book
ISBN: 978-1-84950-235-1

Book part
Publication date: 3 October 2006

Margarethe F. Wiersema and Thomas P. Moliterno

Scholars working in the strategy area have long held that one of the primary ways in which organizations adapt to external changes is through strategic choice. Inasmuch as…

Abstract

Scholars working in the strategy area have long held that one of the primary ways in which organizations adapt to external changes is through strategic choice. Inasmuch as a new CEO can result in a new strategic direction for the firm, the CEO turnover event itself is an important way by which organizations can signal an alteration in the direction of the firm. In this chapter, we explore how and why CEO turnover has become one of the most powerful indicators of adaptation the firm can make and propose a research agenda to guide future work on CEO turnover.

Details

Ecology and Strategy
Type: Book
ISBN: 978-1-84950-435-5

Book part
Publication date: 1 August 2004

Abstract

Details

Research Methodology in Strategy and Management
Type: Book
ISBN: 978-1-84950-235-1

Book part
Publication date: 1 August 2004

Abstract

Details

Research Methodology in Strategy and Management
Type: Book
ISBN: 978-1-84950-235-1

Content available
Book part
Publication date: 3 October 2006

Abstract

Details

Ecology and Strategy
Type: Book
ISBN: 978-1-84950-435-5

Book part
Publication date: 19 September 2014

Guoli Chen and Craig Crossland

Financial analysts act as crucial conduits of information between firms and stakeholders. However, comparatively little is known about how these information intermediaries…

Abstract

Financial analysts act as crucial conduits of information between firms and stakeholders. However, comparatively little is known about how these information intermediaries evaluate the believability and importance of corporate disclosures. We argue that a firm’s level of managerial discretion, or latitude of executive action, acts as a cue for financial analysts, which helps them interpret and respond to voluntary management earnings forecasts. Our study provides strong, robust evidence that financial analysts find management forecasts significantly less believable in low-discretion than in high-discretion environments, and therefore tend to be much less responsive to these forecasts. We also show that managerial discretion is especially impactful on analysts’ responses in those circumstances where analysts are typically most uncertain about how to interpret management forecasts.

Article
Publication date: 1 April 1996

M. Mark Walker

Increases in stockholder wealth around leveraged recapitalization (recap) announcements are related more to reductions in the firm's financial slack than improvements in…

Abstract

Increases in stockholder wealth around leveraged recapitalization (recap) announcements are related more to reductions in the firm's financial slack than improvements in operating efficiency. Moreover, while recaps significantly reduce the firm's workforce and asset base, they do not improve operating profitability. These results support the argument (often espoused by non‐finance writers) that the market for corporate control is inefficient and, in many cases, outright destructive. Alternative systems of corporate governance should be explored.

Details

Managerial Finance, vol. 22 no. 4
Type: Research Article
ISSN: 0307-4358

Open Access
Article
Publication date: 4 January 2021

Giulio Ferrigno, Giovanni Battista Dagnino and Nadia Di Paola

Drawing upon the importance of research and development (R&D) alliances in driving firm innovation performance, extant research has analyzed individually the impact of R&D…

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Abstract

Purpose

Drawing upon the importance of research and development (R&D) alliances in driving firm innovation performance, extant research has analyzed individually the impact of R&D alliance partner attributes on firm innovation performance. Despite such analyzes, research has generally underestimated the configurations of partner attributes leading to firm innovation performance. This research gap is interesting to explore, as firms involved in R&D alliances usually face a combination of partner attributes. Moreover, gaining a better understanding of how R&D partner attributes tie into configurations is an issue that is attracting particular interest in coopetition research and alliance literature. This paper aims to obtain a better knowledge of this underrated, but important, aspect of alliances by exploring what configurations of R&D alliance partner attributes lead firms involved in R&D alliances to achieve high innovation performance. To tackle this question, first, this study reviews the extant literature on R&D alliances by relying on the knowledge-based view of alliances to identify the most impactful partner attributes on firms’ innovation performance. This paper then applies a fuzzy set qualitative comparative analysis (fsQCA) to explore the configurations of R&D alliance partner attributes that lead firms involved in R&D alliances to achieve high innovation performance.

Design/methodology/approach

This study selects 27 R&D alliances formed worldwide in the telecom industry. This paper explores the multiple configurations of partner attributes of these alliances by conducting a fsQCA.

Findings

The findings of the fsQCA show that the two alternate configurations of partner attributes guided the firms involved in these alliances to achieve high innovation performance: a configuration with extensive partner technological relatedness and coopetition, but no experience; and a configuration with extensive partner experience and competition, but no technological relatedness.

Research limitations/implications

The research highlights the importance of how partner attributes (i.e. partner technological relatedness, partner competitive overlap, partner experience and partner relative size) tie, with regard to the firms’ access to external knowledge and consequently to their willingness to achieve high innovation performance. Moreover, this paper reveals the beneficial effect of competition on the innovation performance of the firms involved in R&D alliances when some of the other knowledge-based partner attributes are considered. Despite these insights for alliance and coopetition literature, some limitations are to be noted. First, some of the partners’ attributes considered could be further disentangled into sub-partner attributes. Second, other indicators might be used to measure firms’ innovation performance. Third, as anticipated this study applies fsQCA to explore the combinatory effects of partner attributes in the specific context of R&D alliances in the telecom industry worldwide and in a specific time window. This condition may question the extensibility of the results to other industries and times.

Practical implications

This study also bears two interesting implications for alliance managers. First, the paper suggests that R&D alliance managers need to be aware that potential alliance partners have multiple attributes leading to firm innovation performance. In this regard, partner competitive overlap is particularly important for gaining a better understanding of firm innovation performance. When looking for strategic partners, managers should try to ally with highly competitive enterprises so as to access their more innovative knowledge. Second, the results also highlight that this beneficial effect of coopetition in R&D alliances can be amplified in two ways. On the one hand, when the partners involved in the alliance have not yet developed experience in forming alliances. Partners without previous experience supply ideal stimuli to unlock more knowledge in the alliance because new approaches to access and develop knowledge in the alliance could be explored. On the other hand, this paper detects the situation when the allied partners are developing technologies and products in different areas. When partnering with firms coming from different technological areas, the knowledge diversity that can be leveraged in the alliances could drive alliance managers to generate synergies and economies of scope within the coopetitive alliance.

Originality/value

Extant research has analyzed individually the impact of R&D alliance partner attributes on firm innovation performance but has concurrently underestimated the configurations of partner attributes leading to firm innovation performance. Therefore, this paper differs from previous studies, as it provides an understanding of the specific configurations of R&D alliance partner attributes leading firms involved in R&D alliances to achieve high innovation performance.

Details

Journal of Business & Industrial Marketing, vol. 36 no. 13
Type: Research Article
ISSN: 0885-8624

Keywords

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