Theory and research in strategic management: Swings of a pendulum

The development of the field of strategic management within the last two decades has been dramatic. While its roots have been in a more applied area, often referred to as business policy, the current field of strategic management is strongly theory based, with substantial empirical research, and is eclectic in nature. This review of the development of the field and its current position examines the field’s early development and the primary theoretical and methodological bases through its history. Early developments include Chandler’s (1962) Strategy and Structure and Ansoff’s (1965) Corporate Strategy. These early works took on a contingency perspective (fit between strategy and structure) and a resource-based framework emphasizing internal strengths and weaknesses. Perhaps, one of the more significant contributions to the development of strategic management came from industrial organization (IO) economics, specifically the work of Michael Porter. The structure-conduct-performance framework and the notion of strategic groups, as well as providing a foundation for research on competitive dynamics, are flourishing currently. The IO paradigm also brought econometric tools to the research on strategic management. Building on the IO economics framework, the organizational economics perspective contributed transaction costs economics and agency theory to strategic management. More recent theoretical contributions focus on the resource-based view of the firm. While it has its roots in Edith Penrose’s work in the late 1950s, the resource-based view was largely introduced to the field of strategic management in the 1980s and became a dominant framework in the 1990s. Based on the resource-based view or developing concurrently were research on strategic leadership, strategic decision theory (process research) and knowledge-based view of the firm. The research methodologies are becoming increasingly sophisticated and now frequently combine both quantitative and qualitative approaches and unique and new statistical tools. Finally, this review examines the future directions, both in terms of theory and methodologies, as the study of strategic management evolves.

[1]  Jeffrey H. Dyer.  Specialized supplier networks as a source of competitive advantage : Evidence from the auto industry , 1996 .

[2]  James P. Walsh,et al.  Corporate Raiders and their Disciplinary Role in the Market for Corporate Control , 1993 .

[3]  Jeffrey Pfeffer,et al.  Administrative Succession and Organizational Performance: How Administrator Experience Mediates the Succession Effect , 1986 .

[4]  Beverly B. Tyler,et al.  Strategic decision models: Integrating different perspectives , 1991 .

[5]  Curtis M. Grimm,et al.  Strategy as action : industry rivalry and coordination , 1997 .

[6]  R. Grant.  The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation , 1991 .

[7]  S. Kotha.  Mass customization: Implementing the emerging paradigm for competitive advantage , 1995 .

[8]  David J. Miller,et al.  The Resource-Based View of the Firm in Two Environments: The Hollywood Film Studios From 1936 to 1965 , 1996 .

[9]  Paul Almeida,et al.  Knowledge sourcing by foreign multinationals: Patent citation analysis in the U.S. semiconductor industry , 1996 .

[10]  Shorey Peterson,et al.  The Modern Corporation and Private Property. , 1933 .

[11]  Peter Wright,et al.  AGENCY CONFLICT AND CORPORATE STRATEGY: THE EFFECT OF DIVESTMENT ON CORPORATE VALUE , 1997 .

[12]  M. Porter.  Towards a dynamic theory of strategy , 1991 .

[13]  R. Duane Ireland,et al.  RELATIONSHIPS AMONG CORPORATE LEVEL DISTINCTIVE COMPETENCIES, DIVERSIFICATION STRATEGY, CORPORATE STRUCTURE AND PERFORMANCE , 1986 .

[14]  Paul C. Godfrey,et al.  THE PROBLEM OF UNOBSERVABLES IN STRATEGIC MANAGEMENT RESEARCH , 1995 .

[15]  R. Lamb,et al.  Competitive strategic management , 1984 .

[16]  C. Prahalad,et al.  The Core Competence of the Corporation , 1990 .

[17]  Anne Sigismund Huff,et al.  Industry influences on strategy reformulation , 1982 .

[18]  Robert E. Hoskisson,et al.  International Diversification: Effects on Innovation and Firm Performance in Product-Diversified Firms , 1997 .

[19]  E. Johnsen.  Richard M. Cyert & James G. March, A Behavioral Theory of The Firm, Prentice-Hall, Inc., Englewood Cliffs, New Jersey, 1963, 332 s. , 1964 .

[20]  Paul Mallette,et al.  Effects of Board Composition and Stock Ownership on the Adoption of “Poison Pills” , 1992 .

[21]  Robert E. Hoskisson,et al.  Multidivisional Structure and Performance: The Contingency of Diversification Strategy , 1987 .

[22]  George J. Stigler,et al.  Business Concentration and Price Policy , 1955 .

[23]  D. Schendel,et al.  Business Policy or Strategic Management: A Broader View for an Emerging Discipline. Paper No. 371. , 1972 .

[24]  S. Ghoshal,et al.  Theories of Economic Organization: The Case for Realism and Balance , 1996 .

[25]  Daniel A. Levinthal,et al.  ABSORPTIVE CAPACITY: A NEW PERSPECTIVE ON LEARNING AND INNOVATION , 1990 .

[26]  M. Porter,et al.  HOW MUCH DOES INDUSTRY MATTER , REALLY ? , 1997 .

[27]  Ari Ginsberg,et al.  Construing the Business Portfolio : A Cognitive Model of Diversification , 1989 .

[28]  J. Kotter.  The General Managers , 1982 .

[29]  M. C. Jensen,et al.  Harvard Business School; SSRN; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI); Harvard University - Accounting & Control Unit , 1976 .

[30]  R. Grant,et al.  Knowledge and the firm: Overview , 1996 .

[31]  S. Ghoshal,et al.  Bad for Practice: A Critique of the Transaction Cost Theory , 1996 .

[32]  Thomas A. Turk,et al.  Effects of Board and Ownership Structure on Corporate R&D Strategy , 1991 .

[33]  Robert E. Hoskisson,et al.  The Multidivisional Structure: Organizational Fossil or Source of Value? , 1993 .

[34]  R. Nelson.  Why do firms differ, and how does it matter? , 1991 .

[35]  David B. Jemison.  The Importance of an Integrative Approach To Strategic Management Research , 1981 .

[36]  D. Teece,et al.  Strategic management and economics , 1991 .

[37]  J. Bain.  Barriers to new competition , 1957 .

[38]  Donald C. Hambrick,et al.  Managerial Discretion: A Bridge Between Polar Views of Organizations , 1987 .

[39]  J. Hennart,et al.  Location, governance, and strategic determinants of Japanese manufacturing investment in the United States , 1994 .

[40]  H. H. Newman.  Strategic groups and the structure-performance relationship : a study with respect to the chemical process industries , 1979 .

[41]  J.-C. Spender,et al.  Industry recipes : an enquiry into the nature and sources of managerial judgement , 1989 .

[42]  Thorsten Posselt.  The alliance revolution — The new shape of business rivalry , 1998 .

[43]  Donald C. Hambrick,et al.  Effects of executive departures on the performance of acquired firms , 1993 .

[44]  K. Hatten.  Strategic models in the brewing industry , 1974 .

[45]  J. R. Moore,et al.  The theory of the growth of the firm twenty-five years after , 1960 .

[46]  B. Kogut,et al.  Knowledge and the Speed of the Transfer and Imitation of Organizational Capabilities: An Empirical Test , 1995 .

[47]  R. Rumelt.  How much does industry matter , 1991 .

[48]  J. L. Stimpert,et al.  Seeing The Big Picture: The Influence Of Industry, Diversification, And Business Strategy On Performance , 1997 .

[49]  E. Biggadike,et al.  The Contributions of Marketing To Strategic Management , 1981 .

[50]  Javier Gimeno.  Multipoint competition, market rivalry and firm performance: A test of the mutual forbearance hypothesis in the United States airline industry, 1984--1988 , 1994 .

[51]  Robert E. Hoskisson,et al.  Strategic groups: Untested assertions and research proposals , 1990 .

[52]  P. Barr,et al.  Cognitive change, strategic action, and organizational renewal , 1992 .

[53]  M. Porter.  The Structure Within Industries and Companies' Performance , 1979 .

[54]  R. Gulati.  Social Structure and Alliance Formation Patterns: A Longitudinal Analysis , 1995 .

[55]  D. Hambrick,et al.  Managerial discretion: A bridge between polar views of organizational outcomes. , 1987 .

[56]  B. Kogut,et al.  Knowledge of the Firm, Combinative Capabilities, and the Replication of Technology , 1992 .

[57]  Robert E. Hoskisson,et al.  The Effect of Quantum Versus Incremental M-form Reorganization on Performance: A Time-Series Exploration of Intervention Dynamics , 1985 .

[58]  M. Tushman,et al.  Technological Discontinuities and Organizational Environments , 1986 .

[59]  Michael A. Hitt,et al.  Downscoping: How to Tame the Diversified Firm , 1994 .

[60]  D. Schendel,et al.  A Strategic Model of the U.S. Brewing Industry: 1952-1971 , 1978 .

[61]  M. Porter,et al.  From Entry Barriers to Mobility Barriers: Conjectural Decisions and Contrived Deterrence to New Competition , 1977 .

[62]  M. Porter.  The Contributions of Industrial Organization To Strategic Management , 1981 .

[63]  D. Teece,et al.  DYNAMIC CAPABILITIES AND STRATEGIC MANAGEMENT , 1997 .

[64]  Tim Smithin,et al.  Mapping Strategic Thought , 1991 .

[65]  Ari Ginsberg,et al.  Measuring and modelling changes in strategy: Theoretical foundations and empirical directions , 1988 .

[66]  Kathleen M. Eisenhardt,et al.  Making Fast Strategic Decisions In High-Velocity Environments , 1989 .

[67]  Abagail McWilliams,et al.  Event Studies In Management Research: Theoretical And Empirical Issues , 1997 .

[68]  N. Adler,et al.  The Parochial Dinosaur: Organizational Science in a Global Context , 1991 .

[69]  Robert E. Hoskisson,et al.  Strategic Management: Competitiveness and Globalization , 1994 .

[70]  A. Huff,et al.  STRATEGIC GROUPS: A COGNITIVE PERSPECTIVE , 1993 .

[71]  Michael A. Hitt,et al.  Antecedents and Performance Outcomes of Diversification: A Review and Critique of Theoretical Perspectives , 1990 .

[72]  J. Robins,et al.  A resource‐based approach to the multibusiness firm: Empirical analysis of portfolio interrelationships and corporate financial performance , 1995 .

[73]  R. T. Beaty,et al.  The competitive challenge , 1993 .

[74]  M. Hitt.  Twenty-First-Century Organizations: Business Firms, Business Schools, and the Academy , 1998 .

[75]  Abagail McWilliams,et al.  The Resource-Based View of the Firm , 1995 .

[76]  Donald E. Hatfield,et al.  THE EFFECTS OF CORPORATE RESTRUCTURING ON AGGREGATE INDUSTRY SPECIALIZATION , 1996 .

[77]  Barbara W. Keats,et al.  Navigating in the new competitive landscape: Building strategic flexibility and competitive advantage in the 21st century , 1998 .

[78]  S. Winter,et al.  An Evolutionary Theory of Economic Change.by Richard R. Nelson; Sidney G. Winter , 1987 .

[79]  Henrich R. Greve,et al.  Patterns of Competition: The Diffusion of a Market Position in Radio Broadcasting , 1996 .

[80]  Michael A. Hitt,et al.  Current and Future Research Methods in Strategic Management , 1998 .

[81]  C. C. Snow,et al.  Strategy, Distinctive Competence, and Organizational Performance. , 1980 .

[82]  James P. Walsh,et al.  On the Efficiency of Internal and External Corporate Control Mechanisms , 1990 .

[83]  Max Chen.  Competitor analysis and interfirm riva-lry: toward a theoretical integration , 1996 .

[84]  K. Eisenhardt,et al.  PRODUCT DEVELOPMENT: PAST RESEARCH, PRESENT FINDINGS, AND FUTURE DIRECTIONS , 1995 .

[85]  Karel Cool,et al.  Asset stock accumulation and sustainability of competitive advantage , 1989 .

[86]  Joseph T. Mahoney,et al.  The resource-based view within the conversation of strategic management , 1992 .

[87]  H. Thomas,et al.  Rivalry and the Industry Model of Scottish Knitwear Producers , 1995 .

[88]  Hiroyuki Itami.  Mobilizing invisible assets , 1987 .

[89]  Robert Aaron Gordon,et al.  Higher Education for Business , 1959 .

[90]  E. Zajac.  SMJ 1994 best paper prize to Birger Wernerfelt , 1995 .

[91]  E. Fama.  Agency Problems and the Theory of the Firm , 1980, Journal of Political Economy.

[92]  J. Liebeskind,et al.  The effects of ownership structure on corporate restructuring , 1993 .

[93]  Oliver E. Williamson,et al.  Economic Organization: The Case For Candor , 1996 .

[94]  C. Hill.  Cooperation, Opportunism, and the Invisible Hand: Implications for Transaction Cost Theory , 1990 .

[95]  L. G. Hrebiniak,et al.  Organizational Adaptation: Strategic Choice and Environmental Determinism. , 1985 .

[96]  James D. Westphal,et al.  Who Shall Succeed? How CEO/Board Preferences and Power Affect the Choice of New CEOs , 1996 .

[97]  M. Porter.  Clusters and the new economics of competition. , 1998, Harvard business review.

[98]  B. Wernerfelt,et al.  The resource‐based view of the firm: Ten years after , 1995 .

[99]  Peter J. Buckley,et al.  Inside the multinationals: The economics of internal markets. Alan M. Rugman, inside th multinationals: The economics of internal markets, Croom Helm, London, 1981, pp. 179. £11.95 , 1985 .

[100]  Cynthia A. Montgomery,et al.  Of Diamonds and Rust: A New Look at Resources , 1995 .

[101]  Henry L. Tosi,et al.  The Decoupling of CEO Pay and Performance: An Agency Theory Perspective , 1989 .

[102]  C. Barnard.  The Functions of the Executive , 1939 .

[103]  Eric Abrahamson,et al.  Assessing Managerial Discretion across Industries: A Multimethod Approach , 1995 .

[104]  J. H. Davis,et al.  TOWARD A STEWARDSHIP THEORY OF MANAGEMENT , 1997 .

[105]  J. Child.  Organizational Structure, Environment and Performance: The Role of Strategic Choice , 1972 .

[106]  J. Eaton,et al.  Product Line Rivalry , 1984 .

[107]  D. Schendel,et al.  Heterogeneity within an Industry: Firm Conduct in the U.S. Brewing Industry, 1952-71 , 1977 .

[108]  Robert E. Hoskisson,et al.  Strategy and Structure in the Multiproduct Firm , 1987 .

[109]  D. Daryl Wyckoff,et al.  The domestic airline industry , 1977 .

[110]  J. Barney.  Types of Competition and the Theory of Strategy: Toward an Integrative Framework , 1986 .

[111]  Mary Louise Hatten,et al.  Strategic groups, asymmetrical mobility barriers and contestability , 1987 .

[112]  C. Hill,et al.  Oliver Williamson and the M-Form Firm: A Critical Review , 1985 .

[113]  M. Hitt,et al.  Corporate distinctive competence, strategy, industry and performance , 1985 .

[114]  K. Boulding,et al.  Barriers to New Competition: Their Character and Consequences in Manufacturing Industries. , 1957 .

[115]  G. Patton.  A simultaneous equation model of corporate strategy : the case of the U.S. brewing industry , 1976 .

[116]  W. P. Barnett,et al.  An Evolutionary Model of Organizational Performance , 1994 .

[117]  Karel Cool,et al.  Strategic Group Formation and Performance: The Case of the U.S. Pharmaceutical Industry, 1963-1982 , 1987 .

[118]  B. Wernerfelt,et al.  Multiple Point Competition. , 1983 .

[119]  Joel A. C. Baum,et al.  Competitive Dynamics Of Interfirm Rivalry , 1996 .

[120]  Douglas D. Moesel,et al.  Corporate Divestiture Intensity in Restructuring Firms: Effects of Governance, Strategy, and Performance , 1994 .

[121]  C. D. Edwards,et al.  Conglomerate Bigness as a Source of Power , 1955 .

[122]  Søren Aggebo,et al.  Kenneth R. Andrews, The Concept of Corporate Strategy, Dow Jones-Irwin, Inc. Homewood, Illinois, 1971, 245 s. , 1972 .

[123]  Moshe Farjoun.  Beyond Industry Boundaries: Human Expertise, Diversification and Resource-Related Industry Groups , 1994 .

[124]  Robert E. Hoskisson,et al.  Diversification Strategy and R&D Intensity in Multiproduct Firms , 1989 .

[125]  Michael A. Hitt,et al.  Managerial Incentives and Investment in R&D in Large Multiproduct Firms , 1993 .

[126]  Terrence C. Sebora,et al.  Executive Succession: Past, Present & Future , 1994 .

[127]  O. CoolKarel,et al.  Strategic Group Formation and Performance , 1987 .

[128]  M. Whinston,et al.  Multimarket Contact and Collusive Behavior , 1990 .

[129]  H. H. Newman.  Strategic Groups and the Structure-Performance Relationship , 1978 .

[130]  Michael Hunt.  Competition in the major home appliance industry, 1960-1970 , 1972 .

[131]  D. Hambrick,et al.  Upper Echelons: The Organization as a Reflection of Its Top Managers , 1984 .

[132]  L. Donaldson.  The Ethereal Hand: Organizational Economics and Management Theory , 1990 .

[133]  Barbara W. Keats,et al.  A Causal Model of Linkages Among Environmental Dimensions, Macro Organizational Characteristics, and Performance , 1988 .

[134]  L. L. Blodgett.  Factors in the instability of international joint ventures : an event history analysis , 1992 .

[135]  D. Leonard-Barton.  CORE CAPABILITIES AND CORE RIGIDITIES: A PARADOX IN MANAGING NEW PRODUCT DEVELOPMENT , 1992 .

[136]  Birger Wernerfelt,et al.  The link between resources and type of diversification: Theory and evidence , 1991 .

[137]  Milton Friedman,et al.  Essays in Positive Economics , 1954 .

[138]  C. Sundaramurthy.  Corporate governance within the context of antitakeover provisions , 1996 .

[139]  S. Finkelstein,et al.  Top Management Team Size, CEO Dominance, and firm Performance: The Moderating Roles of Environmental Turbulence and Discretion , 1993 .

[140]  R. Pouder,et al.  Hot Spots and Blind Spots: Geographical Clusters of Firms and Innovation , 1996 .

[141]  R. Sanchez.  Strategic flexibility in product competition , 1995 .

[142]  Gregory G. Dess,et al.  Industry Effects and Strategic Management Research , 1990 .

[143]  S. Winter,et al.  An evolutionary theory of economic change , 1983 .

[144]  Ken G. Smith,et al.  Organizational Information Processing, Competitive Responses, and Performance in the U.S. Domestic Airline Industry , 1991 .

[145]  B. Kogut.  Joint ventures: Theoretical and empirical perspectives , 1988 .

[146]  Margarethe F. Wiersema,et al.  The effects of leveraged buyouts on corporate growth and diversification in large firms , 1995 .

[147]  Charles W. Hofer,et al.  Strategy formulation : analytical concepts , 1978 .

[148]  David B. Jemison.  The Contributions of Administrative Behavior To Strategic Management , 1981 .

[149]  B Kogut.  Theoretical and empirical perspectives , 1988 .

[150]  R. Rumelt.  Strategy, structure, and economic performance , 1974 .

[151]  A. Murray.  Top management group heterogeneity and firm performance , 1989 .

[152]  A. Tsui.  A Role Set Analysis of Managerial Reputation. , 1982 .

[153]  David J. Miller,et al.  Competitive attack, retaliation and performance: An expectancy-valence framework , 1994 .

[154]  C. Hill,et al.  Searching for a dynamic theory of the multinational enterprise: A transaction cost model , 1988 .

[155]  Robert L. Phillips,et al.  MARKETS VS. MANAGEMENT: WHAT ‘DRIVES’ PROFITABILITY? , 1996 .

[156]  J. L. Bower,et al.  Business policy: text and cases , 1973 .

[157]  M. Hitt,et al.  Attributes of Successful and Unsuccessful Acquisitions of US Firms , 1998 .

[158]  A. Tsui.  A role set analysis of managerial reputation , 1984 .

[159]  J. Barney,et al.  Organizational Culture: Can It Be a Source of Sustained Competitive Advantage? , 1986 .

[160]  N. Carter.  General and Industrial Management , 1986 .

[161]  Robert E. Hoskisson,et al.  CAPITAL MARKET EVALUATION OF M-FORM IMPLEMENTATION AND DIVERSIFICATION STRATEGY , 1991 .

[162]  G. Pisano.  Knowledge Integration and the Locus of Learning: An Empirical Analysis , 1994 .

[163]  L. Dosier,et al.  Academy of Management Best Paper Proceedings , 1997 .

[164]  J. Barney.  Firm Resources and Sustained Competitive Advantage , 1991 .

[165]  Lívia Markíczy,et al.  A Method for Eliciting and Comparing Causal Maps , 1995 .

[166]  O. Williamson.  Comparative Economic Organization: The Analysis of Discrete Structural Alternatives , 1994 .

[167]  Richard J. Bauer,et al.  Knowledge and the firm , 1999 .

[168]  H. P. Sims,et al.  Top Management Team Demography and Process: The Role of Social Integration and Communication , 1994 .

[169]  T. Greening.  Diversification, Strategic Groups and the Structure-Conduct-Performance Relationship: A Synthesis , 1980 .

[170]  Mark D. Choudhari.  The dynamics of competitive strategy , 1997 .

[171]  H. Thomas,et al.  Strategic Groups as Reference Groups: Theory, Modeling and Empirical Examination of Industry and Competitive Strategy , 1995 .

[172]  James D. Thompson.  Organizations in Action: Social Science Bases of Administrative Theory , 1967 .

[173]  W. Judge,et al.  Institutional and Strategic Choice Perspectives on Board Involvement in the Strategic Decision Process , 1992, Academy of Management journal. Academy of Management.

[174]  S. Oster.  Intraindustry structure and the ease of strategic change , 1982 .

[175]  C. Oliver.  SUSTAINABLE COMPETITIVE ADVANTAGE: COMBINING INSTITUTIONAL AND RESOURCE- BASED VIEWS , 1997 .

[176]  J. Geanakoplos,et al.  Multimarket Oligopoly: Strategic Substitutes and Complements , 1985, Journal of Political Economy.

[177]  S. Lippman,et al.  Uncertain Imitability: An Analysis of Interfirm Differences in Efficiency under Competition , 1982 .

[178]  Danny Miller,et al.  Psychological and Traditional Determinants of Structure. , 1986 .

[179]  I. Nonaka.  A Dynamic Theory of Organizational Knowledge Creation , 1994 .

[180]  Kulwant Singh,et al.  The Impact of Technological Complexity and Interfirm Cooperation on Business Survival , 1997 .

[181]  R. Larsson.  Case Survey Methodology: Quantitative Analysis of Patterns Across Case Studies , 1993 .

[182]  D. Hambrick,et al.  Top-management-team tenure and organizational outcomes: The moderating role of managerial discretion. , 1990 .

[183]  Carolyn Y. Woo,et al.  Hypercompetition in a Multimarket Environment: The Role of Strategic Similarity and Multimarket Contact in Competitive De-Escalation , 1996 .

[184]  Johann Peter Murmann,et al.  Competition in a Multimarket Environment: The Case of Market Exit , 1997 .

[185]  R. J. House,et al.  Organizations: A Quantum View , 1984 .

[186]  Ken G. Smith,et al.  Predictors of response time to competitive strategic actions: Preliminary theory and evidence , 1989 .

[187]  Douglas D. Moesel,et al.  The Market for Corporate Control and Firm Innovation , 1996 .

[188]  J. Robins,et al.  Organizational Considerations in the Evaluation of Capital Assets: Toward a Resource-Based View of Strategic Investment by Firms , 1992 .

[189]  Richard A. Johnson,et al.  Research notes and communications corporate restructuring and strategic change: The effect on diversification strategy and R & D intensity , 1992 .

[190]  Warren B. Brown,et al.  Successor Type and Organizational Change in the Corporate Enterprise. , 1972 .

[191]  Robert E. Hoskisson,et al.  BOARD OF DIRECTOR INVOLVEMENT IN RESTRUCTURING: THE EFFECTS OF BOARD VERSUS MANAGERIAL CONTROLS , 1993 .

[192]  Jeffrey H. Dyer.  EFFECTIVE INTERFIRM COLLABORATION : HOW FIRMS MINIMIZE TRANSACTION COSTS AND MAXIMIZE TRANSACTION VALUE r , 1998 .

[193]  B. Kogut,et al.  What Firms Do? Coordination, Identity, and Learning , 1996 .

[194]  J. Dunning.  The future of the multinational enterprise , 1974 .

[195]  W. Dugger.  The Economic Institutions of Capitalism , 1987 .

[196]  Ming-Jer Chen,et al.  Nonresponse and Delayed Response to Competitive Moves: The Roles of Competitor Dependence and Action Irreversibility , 1992 .

[197]  David Lei,et al.  Dynamic Core Competences through Meta-Learning and Strategic Context , 1996 .

[198]  L. L. Blodgett,et al.  Research notes and communications factors in the instability of international joint ventures: An event history analysis , 1992 .

[199]  Margaret A. Peteraf,et al.  GETTING TO KNOW YOU: A THEORY OF STRATEGIC GROUP IDENTITY , 1997, Strategic Management Journal.

[200]  J. H. Dyer.  Effective interim collaboration: how firms minimize transaction costs and maximise transaction value , 1997 .

[201]  C. Prahalad,et al.  The dominant logic: A new linkage between diversity and performance , 1986 .

[202]  Michael A. Hitt,et al.  Corporate Entrepreneurship and Cross-Functional Fertilization: Activation, Process and Disintegration of a New Product Design Team , 1999 .

[203]  Charles W. Hofer,et al.  Strategic management : a new view of business policy and planning , 1980 .

[204]  D. Teece,et al.  Fundamental Issues in Strategy: A Research Agenda , 1994 .

[205]  M. Shubik,et al.  A Behavioral Theory of the Firm. , 1964 .

[206]  Robert E. Hoskisson,et al.  Corporate Restructuring: Governance and Control Limits of the Internal Capital Market , 1990 .

[207]  Margaret A. Peteraf.  The cornerstones of competitive advantage: A resource‐based view , 1993 .

[208]  Robert E. Hoskisson,et al.  Cooperative Versus Competitive Structures in Related and Unrelated Diversified Firms , 1992 .

[209]  B. Wernerfelt,et al.  A Resource-Based View of the Firm , 1984 .

[210]  Colin Camerer,et al.  EXPERIMENTAL TESTS OF A SEQUENTIAL EQUILIBRIUM REPUTATION MODEL , 1988 .

[211]  Edward Levitas,et al.  Selecting partners for successful international alliances: Examination of U.S. and Korean firms , 1997 .

[212]  David Jones,et al.  Corporate strategy , 1989, Nature.

[213]  R. Rumelt.  Towards a Strategic Theory of the Firm , 1984 .

[214]  Henry Mintzberg.  Musings on management. Ten ideas designed to rile everyone who cares about management. , 1996, Harvard business review.

[215]  L. Vogel,et al.  Strategy and Structure , 1986 .

[216]  Vadim Radaev.  The Competition , 1992 .

[217]  Ralph A. Alexander,et al.  Leadership: It can make a difference. , 1984 .

[218]  Timothy W. Ruefli,et al.  Necessary Conditions for the Predictive Validity of Strategic Groups: Analysis Without Reliance on Clustering Techniques , 1995 .

[219]  P. Schoemaker,et al.  Strategic assets and organizational rent , 1993 .

[220]  Parthiban David,et al.  Institutional investors and firm innovation : a test of competing hypotheses , 1996 .

[221]  J. Hennart,et al.  Greenfield vs. Acquisition: The Strategy of Japanese Investors in the United States , 1993 .

[222]  B. E. Partridge,et al.  The Nature of Managerial Work , 1974 .

[223]  J. Hennart,et al.  A transaction costs theory of equity joint ventures , 1988 .

[224]  Nicolai J. Foss,et al.  More Critical Comments on Knowledge-Based Theories of the Firm , 1996 .

[225]  D. Leonard-Barton,et al.  Core capabilities and core rigidities: A paradox in managing new product development: Strategic Management Journal, 13, 111–125 (Summer 1992) , 1992 .

[226]  David J. Collis,et al.  A resource‐based analysis of global competition: The case of the bearings industry , 1991 .

[227]  H. Demsetz,et al.  Production, Information Costs, and Economic Organization , 1975, IEEE Engineering Management Review.

[228]  Beverly B. Tyler,et al.  Understanding the differences in Korean and U.S. executives' strategic orientations , 1997 .

[229]  R. Duane Ireland,et al.  MERGERS AND ACQUISITIONS AND MANAGERIAL COMMITMENT TO INNOVATION IN M-FORM FIRMS , 1990 .

[230]  M. Hitt,et al.  Industrial Firms' Grand Strategy and Functional Importance: Moderating Effects of Technology and Uncertainty , 1982 .

[231]  K. R. Conner,et al.  A Resource-Based Theory of the Firm: Knowledge Versus Opportunism , 1996 .

[232]  K. R. Conner.  A Historical Comparison of Resource-Based Theory and Five Schools of Thought Within Industrial Organization Economics: Do We Have a New Theory of the Firm? , 1991 .

[233]  Charles E. Bamford,et al.  Differences in large and small firm responses to environmental context: strategic implications from a comparative analysis of business formations , 1998 .

[234]  J. Hagedoorn,et al.  The institutionalization and evolutionary dynamics of interorganizational alliances and networks. , 1997 .

[235]  Briance Mascarenhas.  STRATEGIC GROUP DYNAMICS , 1989 .

[236]  Shaker A. Zahra,et al.  Boards of Directors and Corporate Financial Performance: A Review and Integrative Model , 1989 .

[237]  K. Eisenhardt.  Agency Theory: An Assessment and Review , 1989 .

[238]  I. Cockburn,et al.  Measuring competence?: exploring firm effects in pharmaceutical research , 1994 .

[239]  Gregory G. Dess,et al.  Conducting and Integrating Strategy Research at the International, Corporate, and Business Levels: Issues and Directions , 1995 .

[240]  Rita D. Kosnik.  Effects of Board Demography and Directors' Incentives on Corporate Greenmail Decisions , 1990 .

[241]  Scott A. Snell,et al.  External control, corporate strategy, and firm performance in research‐intensive industries , 1988 .

[242]  R. Duane Ireland,et al.  Functional importance and company performance: Moderating effects of grand strategy and industry type , 1982 .

[243]  E. Fama,et al.  Separation of Ownership and Control , 1983, The Journal of Law and Economics.

[244]  Thomas H. Brush.  PREDICTED CHANGE IN OPERATIONAL SYNERGY AND POST‐ACQUISITION PERFORMANCE OF ACQUIRED BUSINESSES , 1996 .

[245]  C. Marlene Fiol,et al.  Managing Culture as a Competitive Resource: An Identity-Based View of Sustainable Competitive Advantage , 1991 .