<title>Abstract</title>This study draws on upper echelons theory, the resource based view, and Penrose's theory of firm growth to show that slack resources, specifically financial and human slack, are essential to the research and development (R&D) strategies of organizations. We also suggest that both Chief...

This study examines whether mutual funds herd in industries and the extent to which such herding impacts industry valuations. Using two herding measures proposed by Lakonishok et al. (1992) and Sias (2004) we document that mutual funds herd in industries. We show that industry herding is not...

This paper introduces financing constraint in a model of incentive compensation and product market and develops key insights about the interactions of product market behavior, financial constraint and incentive compensation. A financially constrained firm faces higher cost of capital which...

This study examines how the board of directors’ pay structure may influence accounting- and market-based measures of firm performance, and how firm complexity in pay structure is associated with firm performance. We integrate the insights of the Board Capital View and Contingency theory to...