This element explains the role of the CEO in maintaining and updating the internal selection environment and contributing to organizational evolution, as well as making fundamental decisions about organizational splits of the firm's business models as an ecosystem evolves.

A well-known view in the literature is that if management is more concerned with the firm's survival than with profitability, it is efficient to use a levered capital structure and thereby transfer the liquidation decision to lenders. Our paper extends this idea to a setting where lenders behave...

Purpose –The purpose of this paper is to contribute to the debate over people management rationales and how they relate to organizational effectiveness. Design/methodology/approach – Drawing on the distinction between the “logic of consequences” and the “logic of appropriateness,”...