Pacheco-de-Almeida, Gonçalo; Henderson, James E.; … - HEC Paris (École des Hautes Études Commerciales) - 2008
We examine how time-consuming resource accumulation influences the classic strategy trade-off between commitment and flexibility. In particular, using data from the worldwide petrochemical industry during the period 1975 to 1995, we study the impact of new plants’ time-to-build on firms’...