The existence of ambiguity presents a challenge to decision-makers as it eliminates the ability to apply standard optimization approaches, such as those based on calculating the objective expected values of alternative actions. In reality, ambiguity arises in most strategically important...

Most scholarly impact measures focus exclusively on an essential but single group of stakeholders: other researchers. However, business research aims to benefit not only other researchers (i.e., internal) but also additional (i.e., external) stakeholders. Accordingly, we offer an expanded...

This essay explores the evolving landscape of corporate governance amid global disruptions and changing stakeholder demands. We argue that traditional governance models are unable to effectively address contemporary challenges such as technological advancements, sustainability pressures, and...

This paper focuses on the pay level of the highest paid executive directors, which we label as "Executive Director's Organizational Level" (henceforth EDOL), to raise the question if highest paid CEOs invest heavily in innovative projects. Two-stage least squares (2SLS) regressions show that...

This study examines the effects of product market competition on corporate investment and firm value and the moderating role of economic policy uncertainty on this relationship. The firm-level data of 1971 listed corporate firms for BRIC (Brazil, Russia, India, China) countries during 2009-2020...

This study employs textual analysis to assess enterprise digitalization. Moreover, it explores the effect of firm digital transformation (DT) on productivity using data from listed enterprises in China from 2007 to 2020. Our empirical findings point to a facilitation effect between firm-level DT...

The aim of this paper is to examine the relationship between supply network position and firm performance. A-share manufacturing companies listed from 2013 to 2015 are chosen as the initial samples, and large sample supply networks are constructed with relational embeddedness and structural...

We study different determinants of real-life R&D decisions within a net present value framework. Besides entry threat, Bertrand competition and multi-stage R&D with an abandonment option, our model includes demand uncertainty, modelled as a lottery. A lottery becomes more divergent when the...

One of the standard predictions of the agency theory is that more incentives can be given to agents with lower risk aversion. In this paper, we show that this relationship may be absent or reversed when the technology is endogenous and projects with a higher efficiency are also riskier. Using a...