This study shows that the interplay between "adjustment costs", "coordination costs" and within-industry diversification benefits, results in an S-shaped relationship between within-industry diversification and firm performance. At low levels of within industry diversification, coordination...

Extant research on the management of time shows that the speed of undertaking new strategic moves has negative consequences for firm profitability. However, the literature has not distinguished whether this outcome results from the effects of speed on firms' revenues or from the effects of speed...

Research summary We argue that interrelated processes of knowledge codification and uncertainty reduction lead to the contraction of vertical firm boundaries of new high technology ventures over time. Consistent with our arguments we show that, over time, the outsourcing of R&D is slower than...