Technological innovation can disrupt the competitive landscape of an industry and the performance differential of incumbents and their challengers. The challenge for both is to adapt to their changing competitive conditions and environmental dynamics. Adaptation necessitates timely responses,...

This paper analyses the causes of managerial change and the impact of different reforms on firm performance, using survey data from 300 Ukrainian firms. The main findings are: 1) ownership and competition are linked to managerial change: de novo firms but also privatised firms experienced less...