Services are gaining ever more importance in every economy in the world. In reflection of the overall trends, manufacturers are being advised to expand and integrate their service offerings to the core product offerings.However, the number of empirical academic studies on the topic is still...

POSCO has played a major role in Korea’s economic development by supplying domestic manufacturers with high-quality, low-cost steel products. Despite its initial disadvantage and lack of resources such as capital, technology, and raw materials, it has emerged as a world-class steel maker in a...

What makes a decision strategic? When is strategy most important? This paper studies the structure and value of strategy (in its everyday sense), starting from a (functional) definition of strategy as ‘the smallest set of (core) choices to optimally guide the other choices.' This definition...

This paper deals with the impact of voluntary strategy disclosure in management reports on the cost of equity capital. Such an impact is not obvious, as investors might consider strategy information as “cheap talk” and therefore ignore it. We analyze a sample of 100 German listed firms from...

To help bridge the gap between the emergent and rational school of strategy formation, I analyze the role of alternative generation and information integration as two process-based characteristics of the strategy process in the relationship between strategic planning and decision quality. Based...

An extensive empirical literature in strategy and finance studies the performance implications of corporate diversification. Two core debates in the literature concern the existence of a diversification discount and the relative importance of industry relatedness and market structure for the...