Rating agencies play a pivotal role in international credit transactions. Their sovereign risk-assessments are largely thought to reflect objective evaluations of the creditworthiness of potential borrowers. We test this assumption by examining the role that competitive positioning and dynamics...

Some strategy scholars and practitioners contend that markets have become increasingly hypercompetitive in recent years. We examine this contention by analyzing industry and business performance patterns in a broad sample of firms drawn from the Compustat Industry Segment database for the...

A simmering debate in strategic management pits two conflicting views on the impact of corporate-level factors on affiliated business units. quot;Mainstreamquot; proponents hold that corporate effects on business performance are substantial, while quot;revisionistquot; proponents hold that...