Shakina, Elena; Barajas, Angel - In: European Research on Management and Business Economics … 26 (2020) 3, pp. 145-154
This paper tests the behavioral firm theory by examining exogenous economic shocks to explore whether switching to an innovative strategy is always reasonable. A quasi-experimental design - difference-in-difference - has been run on 1000 companies for 11 years to explore the consequences of...