This article presents a systematic review of the theoretical and empirical literature on option grants and managerial risk taking. One of the objectives is the motivation of further research on the topic. Risk-averse managers hold less diversified portfolios and, thus, tend to take less risk...

I present a model in which (1) a more talent-demanding task increases both rewards for high talent and the penalty for low talent due to a greater fixed cost of production, and (2) individual talent is task-specific and talent updates occur only for tasks near the attempted task, which implies a...

This paper confirms the importance of path dependency in the accumulation of firm-specific technological competencies. It shows that firms are guided by the selective logic of path dependency in their innovation process, even if it is not management taking the decision to invest in a new...