Drawing from economic and cognitive theories, researchers have argued that firms within an industry tend to cluster together, following similar strategies. Their positioning in strategic groups, in turn, is argued to influence firm actions and firm performance. We extend this research to examine...

We explore whether acquiring CEOs and directors act consistently with the idea that their newly announced acquisitions will increase long-term firm value. Specifically, we examine postannouncement adjustments to CEOs' equity-based holdings and find acquiring CEOs tend to exercise options and...

Scholars from multiple fields have shown increasing interest in the causes and consequences of mergers and acquisitions (Mamp;A). While this proliferation of research has the potential to significantly improve our understanding of Mamp;A activity, absent is the necessary step of consolidating...

To gain a better understanding in how the individual characteristics of CEOs influence firm strategic choice, we explore the relationship between founder CEOs and firm-level strategic risk-taking. We argue that founder-CEO-managed firms will engage in greater risk-taking than...