Journal ArticleDOI
Resource Allocation as an Outcropping of Strategic Consistency: Performance Implications
TLDR
Similarities in financial resource allocations across the lines of business of diversified firms may indicate corporate strategic consistency, which may lead to superior corporate performance as discussed by the authors. But, as discussed in Section 2.Abstract:
Similarities in financial resource allocations across the lines of business of diversified firms may indicate corporate strategic consistency, which may lead to superior corporate performance. In s...read more
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Who Matters to Ceos? An Investigation of Stakeholder Attributes and Salience, Corpate Performance, and Ceo Values
TL;DR: The authors examined relationships among the stakeholder attributes of power, legitimacy, urgency, and salience; CEO values; and corpo...Using unique data provided by the CEOs of 80 large U.S. firms,
Journal ArticleDOI
Trading off between Value Creation and Value Appropriation: The Financial Implications of Shifts in Strategic Emphasis:
Natalie Mizik,Robert Jacobson +1 more
TL;DR: In this article, the authors examine the effect that shifts in strategic emphasis have on stock return and find that the stock market reacts favorably when a firm increases its emphasis on value appropriation relative to value creation, but this effect is moderated by firm and industry characteristics, in particular, financial performance, the past level of strategic emphasis of the firm, and the technological envi...
Journal ArticleDOI
Resource complementarity in business combinations: Extending the logic to organizational alliances
TL;DR: In this article, the authors suggest that the existence of complementary resources is a necessary but insufficient condition to achieve synergy, and that the resources must be effectively integrated and managed to realize the synergy.
Journal ArticleDOI
Slack resources and firm performance: a meta-analysis☆
TL;DR: This article employed a meta-analysis based on 80 samples from 66 studies (n=54,249) and found evidence of a positive relationship among all three slack types (i.e., available, recoverable, and potential) and financial performance.
Journal ArticleDOI
Employment Flexibility and Firm Performance: Examining the Interaction Effects of Employment Mode, Environmental Dynamism, and Technological Intensity:
TL;DR: In this paper, the authors examined the relationship among four types of employment (knowledge-based, job-based and contract-based) and firm performance and found that a greater use of knowledge-based employment and contract work is positively associated with firm performance.
References
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Journal ArticleDOI
Returns to bidding firms in mergers and acquisitions: Reconsidering the relatedness hypothesis
TL;DR: In this paper, the relatedness hypothesis is refined by arguing that relatedness is not a sufficient condition for acquiring firms to earn abnormal returns, rather, only when bidding firms enjoy private and uniquely valuable synergistic cash flows with targets, inimitable, uniquely valuable, synergistic, and unexpected synergisticcash flows, will acquiring a related firm result in abnormal returns for the shareholders of bidding firms.
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Strategic control systems and relative r&d investment in large multiproduct firms
TL;DR: In this paper, the authors hypothesize that tight financial controls associated with large diversified M-form firms lead to a short-term, low-risk orientation and thereby lower relative investment in R&D.
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Cooperative Versus Competitive Structures in Related and Unrelated Diversified Firms
TL;DR: In this article, the authors argue that different diversification strategies are associated with different sets of economic benefits, and that distinctly different internal organizational arrangements are required to realize these different benefits.
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Synergies and Post-Acquisition Performance: Differences versus Similarities in Resource Allocations
TL;DR: In this paper, it is argued that uniquely valuable synergy might be created where differences (versus similarities) exist between resources in the acquiring and target firms, and tests of these competing hypotheses confirmed that differences contributed significantly to performance in the merged firm.
Journal ArticleDOI
Diversification Strategy, Accounting Determined Risk, and Accounting Determined Return
TL;DR: In this paper, a sample of related and unrelated (conglomerate) diversified firms were studied in terms of risk and return, and the primary findings were that unrelated firms do not enjoy superior risk-pooling characteristics a...