In 1999, MCI WorldComm and Sprint agreed to merge. Valued at $129 billion, this expected transaction was the largest in history. However, it fell victim to regulators in Europe concerned with the potential monopoly power of the merged firm. This M&A action was merely the latest in a growing...

The development of human capital is critical for firms to gain competitive advantage. However, short‐term, risk‐averse managerial behaviour often produces lower investments in the development of human capital. Short‐term risk‐averse managerial behaviour is often the result of managerial...