Bernardo, Antonio; Chowdhry, Bhagwan - Anderson Graduate School of Management, University of … - 1998
The types of investments a ï¬rm undertakes will depend in part on what it expects the outcome of those investments to reveal about its skills, capabilities, and assets (i.e., its resources). We predict that a ï¬rm will specialize when young, then experiment in a new line of business for some...