This study extends the stream of research that is concerned with the influence of portfolio interrelationships on firm performance by employing a sample of European companies. The findings of this study confirm a positive relationship between resource-based relatedness as measured by Robins and...

We propose that due to financial market pressures, managers are forward-looking in their search and decision processes and focus on meeting performance targets set by the financial community. Using panel data on S&P 100 companies, we find that pressure felt by management to meet the analyst...

Activist hedge funds are the new breed of corporate raiders, yet we know little about how the management and board of target firms respond to activist investors. Using a behavioral perspective, we propose that the activist's reputation for being confrontational may serve as a signal that conveys...

To more completely understand the basis for firm performance differences, we need greater clarity on the drivers of differentiation in managerial strategic decision-making, as well as on the impact these decisions have on the composition and configuration of the firm's resource portfolio. In...

Scholars studying upper echelons have found that executive succession can serve as an important adaptation mechanism. The bulk of these findings, however, derive from market-based governance settings, which raises an issue of contextual robustness. This study examines this issue by investigating...

While boards are known to react to corporate misconduct by removing the executives responsible, little is known about whether the board's response is shaped by the firm's social context. Using the 2006 stock option backdating scandal, in which firms manipulated stock option grant dates, we...

While poor firm performance has been shown to be an important predictor of CEO dismissal, financial performance alone cannot explain the increased incidence of CEO dismissal. The complex and ambiguous relationship between poor firm performance and CEO dismissal is due in part to the uncertainty...