As a closed political economy becomes more open, the types and destinations of political ties that generate strategic benefits for firms change. In closed markets, the greatest benefits arise from formal ties to central political leaders. In more open markets, the benefits shift to informal ties...

Business groups in emerging economies frequently use international joint ventures (IJV) as a channel for knowledge acquisition and technology advancement. While IJVs provide a business group with access to new technology, how successful a group is in exploiting that new knowledge for innovative...

Prior work notes that capital markets benefit innovation by providing financial resources to firms, but also argues that capital markets may inhibit innovation by inducing short-termism. We revisit the capital market-innovation link by examining how securities analysts influence firms’...

While strategy researchers have devoted considerable attention to the role of firm-specific capabilities in the pursuit of competitive advantage, less attention has been directed at how firms obtain these capabilities from outside a firm's boundaries. This study analyzes how firms' network ties...

This paper argues that business groups in emerging economies exert dual effects on innovation. While groups encourage innovation by providing institutional infrastructures, groups also discourage innovation by creating entry barriers for small and non-group firms and inhibiting the proliferation...

Previous empirical research has established that science appears to stimulate the widespread diffusion of knowledge. The exact mechanism through which science catalyzes knowledge flow, however, remains somewhat ambiguous. This paper investigates whether the observed knowledge diffusion...