This paper examines the implications of real options theory for both the decision to divest a business unit and the mode of divestment. It is shown that the decision to divest a business unit and the decision to engage in staged modes of divestment are both sensitive to uncertainty, consistent...

Develops a framework for identifying competitiveimperfections in strategic factor markets (i.e., those markets for theresources needed to implement a strategy). The goal of this framework is to aidfirms in implementing high return product market strategies. In a perfectmarket setting, a firm...

Explores the link between a firm's resources and its sustained competitive advantage. For purposes of this analysis, a firm is considered to have a sustained competitive advantage when it is implementing a value creating strategy that no competitor is implementing and when these competitors are...

Investigates the differences in decision-making processes used by managers in large organizations and entrepreneurs. These differences are examined with respect to two biases and heuristics: overconfidence and representativeness. Overconfidence is defined as overestimating the probability of...

This study examines the coevolution of inter-firm networks and the choices that firms make about governance. Prior studies on inter-firm networks and alliances have provided insights into how networks shape firms' decisions about organizational governance. This stream of research has focused on...