When demand drops in an economic crisis, managers rely on an arsenal of demand-side responses to retain existing customers or attract new ones. However, some strategic responses are likely more effective than others. Furthermore, the most effective strategic response likely also depends on...

Ownership is fundamental to firm strategy, organization, and governance. Standard ownership concepts—mainly derived from agency and incomplete contracting theories—focus on its incentive effects. However, these concepts and theories neglect ownership's role as an instrument to match judgment...

The survivor principle holds that the competitive process weeds out inefficient firms, so that hypotheses about efficient behavior can be tested by observing how firms actually behave. This principle underlies a large body of empirical work in strategy, economics, and management. But do...