We examine how production flexibility affects financial leverage. A worldwide sample of energy utilities allows us to … apply direct measures for production flexibility based on their power plants. We find that production flexibility increases … recapitalization cost across regions. Production flexibility affects financial leverage via the channels of reduced expected cost of …

today’s world, strategic flexibility in VUCA is essential for business leaders to sustain market advantage and attain a … various paradigms used in strategic management to understand competitive advantage as well as flexibility in organizational …