This study examines the role of national culture on an issue which is central to competitive strategy: whether to maintain flexibility or commit to a strategic direction. We consider that equity investments in foreign partners may be initiated as the first step in a sequential acquisition...

We develop a model to explain why some firms make acquisitions, while other firms with equal performance expectations do not. We argue that the decision to acquire is not strictly a function of expected abnormal returns, but also depends on a firm's unique acquisition threshold. Our model posits...

In this paper we develop and test theory regarding whether entrepreneurs contemplating starting a new venture account for the value of the option to defer the entry decision. While others have illuminated the theoretical applicability of real options theory to entrepreneurship, empirical...

Much of prior research recognizes that entry into entrepreneurship involves a comparison of expected economic returns in a venture to some threshold level of acceptable performance. Despite this recognition, theory commonly focuses on drivers of economic returns at the exclusion of threshold...

In contrast to previous efforts to model an individual's movement from wage work into entrepreneurship, we consider that individuals might transition incrementally by retaining their wage job while entering into self-employment. We show that these hybrid entrepreneurs represent a significant...

Increasing evidence indicates that firms benefit from a location in a geographic cluster of similar firms. The literature is nearly silent, however, on whether agglomeration economies accrue symmetrically across clustered firms. Drawing from the knowledge-based view, we investigate which firms...