This paper examines emergent information systems and technologies and explains under what supply and demand conditions inter-firm modularization of information-based products and services and subsequent vertical de-integration of organizations is more likely. Research in organizational economics...

How to valuate accurately a new venture is a critical and under-researched question in entrepreneurial financing. Leveraging established theories in strategic management, this research study develops an integrative theoretical framework to examine whether venture capitalists' valuation of a new...

This paper suggests that due to the changing nature of the firm, viewing shareholders as the sole residual claimants is an increasingly tenuous description of the actual relationships among a corporation's various stakeholders. Examining the corporation from a (team production) property rights...

This paper addresses modularity as a basis for organizing economic activity. We first define the key concepts of architecture and of modularity as a special form of architecture. We then suggest how modular systems of all types may exhibit several properties of fundamental importance to the...

Debates on "shareholder" and "stakeholder" approaches to corporate governance often get bogged down in competing normative claims about economic rent streams, entitlements of different group members, fairness, and similar distributional issues. These concerns are important, but core economic...

Chester Barnard was best known as the author of The Functions of the Executive, perhaps the 20th century's most influential book on management and leadership. Barnard offers a systems approach to the study of organization, which contains a psychological theory of motivation and behavior, a...

Property rights theory has common antecedents with contractual theories of the firm such as transaction costs and agency theories. Yet, property rights theory is distinct from these contractual theories. The objectives of the current paper are to analyze extant property rights theory and to...

Alfred Chandler's recent passing is cause to review and celebrate his many contributions to business history. It also presents an opportunity to highlight links between his rich historical analyses concerning organizational and industrial innovation and contemporary management studies of the...

This paper develops an integrative theory explaining multinational firms' staffing decisions in initial foreign entry situations from agency theory, transaction costs theory, and resource-based theory, and it offers a set of theoretically-grounded, testable propositions concerning these staffing...

This paper joins the strategic management research literature with the entrepreneurial research literature by developing a real options framework to explain and predict corporate venture capital investment decisions. Corporate venture capital is viewed as containing a series of real options. The...