Estimating Value Creation from Revealed Preferences: Application to Value-Based Strategy

Published Research

We develop and apply a new set of empirical tools consistent with the tenets of value-based business strategies, leveraging the principle that “no good deal comes undone” and the methods of revealed preferences to empirically estimate drivers of value creation.Read More

Exploring the 20 Trillion Dollar Question: How Industry-level Resource Characteristics Shape Long-term Company Returns

Working Papers

In the variance component studies, performance variations are literally “decomposed” into various strategic theories: within-industry variations are associated with the resource based view (RBV), between-industry variations with a Porterian industry perspective, and corporate effects with theories of corporate strategy.Read More

Uncovering an Incumbency Paradox: Firms with the Greatest Need to Change Face the Greatest Stock Market Pressure to Conform

Working Papers

An emerging strand within the strategic management literature explores how incumbents’ responses in the face of discontinuous industry change are evaluated by stock markets, underscoring how these institutional pressures may constrain incumbents’ adaptation efforts. A general insight offered is that stock markets are less optimistic when incumbents’ strategies are aligned to emerging technologies and business models as compared to existing technologies and models, an effect referred to as the “incumbent discount.”Read More

Acquisitions and Divestitures in Family Firms

Funded Research Proposal

In this project, I seek to compare how effectively family firms undertake and implement acquisitions and divestitures relative to their non-family counterparts. While family firms are less likely than non-family firms to undertake divestitures, the stock market returns earned by the family firms that undertake these deals exceed those of non-family firms.Read More

Division of Relational Rents by Alliance Partners

Funded Research Proposal

How do alliance partners generate relational rents in the partnership? Many studies in the strategy literature have investigated the creation of value by strategy alliances. However, it is somewhat surprising that very few of them have explored the division of the value created between alliance partners.Read More