The role of boards of directors in shaping corporate strategy has increased in importance in recent years. However, evidence suggests that boards differ significantly in their involvement in the strategic arena. In this study of 139 Fortune manufacturing and service corporations we identify...

Summary Academic interest in absorptive capacity (ACAP), which has grown rapidly over the past two decades, has focused on ACAP's effect on organizational learning, knowledge sharing, innovation, capability building, and firm performance. Even though Cohen and Levinthal's work (1990) highlights...