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Assuming that supplier knowledge can either strengthen the partnership by nurturing the commitment and trust between partners or allow the buyer to be more calculative, this study aims to propose two types of knowledge sharing in supplier relationship – a type benefiting the partnership and another privately benefiting only one partner.

Using structural equation modeling and a surveyed dataset from 352 buyer–supplier partnerships, this study tested the research model of dual mechanism, where two types of knowledge sharing co-exist and have opposite effects on partnership longevity.

This study found that the two types of knowledge sharing create divergent effects on partnership continuation. For a buyer firm developing supplier knowledge, its supplier firm reciprocates by sharing knowledge with the buyer. While relation-specific knowledge promotes partnership longevity through developing trust, institutionalized knowledge hampers partnership longevity.

Findings overall indicate that knowledge plays a more instrumental role in sharing knowledge in a buyer–supplier relationship, and alternative forces simultaneously work in the partnership. Although this study explicates two mediating mechanisms for the effect of supplier knowledge, there remain many unknown aspects of the effect.

From the buyer’s perspective, it is possible its institutionalized knowledge can facilitate its relationship with a current supply chain partner so that it can gain more benefits from the relationship. From the supplier’s perspective, caution should be exercised in selecting the type of knowledge to share.

This study may have a broad impact on public policy by theorizing and testing why some partnerships last longer/shorter than others in association with the dynamics of the relationship initiated by one’s relational knowledge and the other’s knowledge sharing.

What this study contributes to involves the theorizing and testing the effects of the dual mechanism of knowledge sharing on partnership longevity. This study provides an example of a private investment in knowledge that is reciprocated with each type of knowledge – benefiting the partner and also benefiting the focal buyer firm.

The aim is to present, explain and illustrate an improved method for decomposing an event‐based change in market value into its cash flow and risk elements.

The approach is two‐fold. There is an algebraic comparison of the existing and improved decomposition to prove and delineate the benefits of the new method. There is an event study, using 130 firms, contrasting the results of the existing and improved methods.

The new, alternative method of decomposition is easier to use, provides a cleaner delineation of the components, and results in increased statistical significance in tests.

Researchers now have access to an improved methodology for decomposing market value changes. Explicit limitations reveal when the new method provides benefits over the current method.

Managers considering strategic decisions now have an improved method to understand the main impacts on market value. For example, by decomposing the market's reaction to an acquisition announcement, managers can gauge better whether following through that decision is likely to have intended effects on the firm's cash flow and risk profile.

The value of this paper is the presentation of an improved method for event‐study type research, where delineation of the basis elements of changes in market value is required. Originality lies in the use of implied standard deviation (ISD) as an even more focused way to apply this new method when the target firms regularly trade financial options.

This issue is a selected bibliography covering the subject of leadership.

Several years ago I began an intellectual adventure that has paid high dividends in terms of understanding the role of leadership and in selecting more effective leadership strategies. The adventure consisted of seeing what would happen if one conceptualised a social system (family, group, organisation, agency, corporation, school, college, community, state, nation, or world) as a system of human energy.

While research related to the resource-based view (RBV) has expanded markedly in the last decade, debates continue over the theory, the extent to which our understanding of the theory has been advanced in a meaningful way, and the most appropriate approaches for empirical RBV research. We present some additional perspectives on current debates, summarize key challenges that empirical studies face, and offer some suggestions and directions for future RBV research.

The purpose of this paper is to attempt to develop a measure of competitive advantage by identifying a stipulative definition, composing an operational definition and constructing a measurement variable.

The paper undertakes critical literature review, cognitive interviews as well as a pilot and full study, which were carried out by applying a cross-sectional, self-administered e-mail survey with questionnaire in a fillable text-processing file, in order to develop a valid and reliable measure of competitive advantage.

The results have led to the identification of a conceptually robust stipulative definition, the composition of a comprehensive operational definition and the construction of a qualified variable, making the development of a valid and reliable measure of competitive advantage possible.

The newly developed measure of competitive advantage, exempt from past conceptual problems, could be used for valid measurements in future empirical studies in the field of strategic management. At the same time, authors encourage future tests of the newly developed measure's reliability and validity.

The provision of a conceptually clear stipulating definition and a comprehensive operational definition for competitive advantage could increase practicing managers’ awareness relating to the conceptual nature as well as the latent expressions of competitive advantage.

The findings contribute to the evolution of the strategic management field by providing a valid and reliable measure of competitive advantage that is applicable under any leading theoretical perspective in strategic management and it could better serve the needs of both empirical research and management practice.

WHERE are we going? The aim is to double our standard of living in the next 25 years and, as Sir Alexander Fleck, K.B.E., Chairman of Imperial Chemical Industries Ltd., so aptly staled recently, ‘The man who knows where he is going is the one who is most likely to arrive.’ One might venture to expand this statement by adding that he is still more likely to arrive if the cluttering debris of inefficient methods and movements are cleared away.

The paper reviews existing empirical research where long-term performance (LTP) of firms is the dependent variable. The purpose of this paper is to structure and classify the existing research, outline the shortcomings, and chart the avenues for future research in the area of LTP.

The paper is a review of the existing empirical literature. It surveys the existing studies and proposes new directions of empirical research.

The paper argues that there is a disconnection between the principal theories in strategy and the existing empirical findings. In particular, while the resource-based view (RBV) and dynamic capabilities view aim to predict sustainable competitive advantage and sustainable firm performance, few empirical papers examine the LTP consequences of resources and dynamic capabilities.

The paper shows where future research efforts should be concentrated by outlining shortcomings in existing research.

The paper compares ways to measure LTP that will be useful to corporate executives. The paper also outlines factors that have been shown to affect LTP. These findings can be used by executives planning their strategy.

The paper is a first review of LTP. It also contributes to the debate in strategy on the RBV and dynamic capabilities.

The goal of this work is to include the new economic-based approaches related to entrepreneurship that have been published in the literature. Based on the neoclassical and Austrian schools, some sociological, psychological and economic theories about entrepreneurship. In this work, some unknown economic-based approaches related to entrepreneurship will be summarized, as they are included in the work of Saiz-Alvarez and García-Vaquero (2017). These approaches are: (1) The Jack-of-all-trades Theory, (2) The Mezzanine Theory, (3) The O-Ring Theory, (4) The Theory of Resources and Capabilities, (5) Entrepreneurial Bricolage, (6) The Processes’ School, (7) The Feedback Loop Theory, (8) The Theory of Effectuation, and (9) The Theory of the Optimal Triangle. All these theories will be summarized in this chapter.