ÐÏà¡±á>þÿ egþÿÿÿdÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿì¥ÁU ðR¿Â+bjbjënën2@‰éa‰éa´# ÿÿÿÿÿÿ·""ÿÿÿÿÁÁÁ8ùD=Á:PlQQQQQ………¹O»O»O»O»O»O»O$¦Q¶\T<�ßO……………ßOQQ4ôO©©©…fQQ¹O©…¹O©©©Qÿÿÿÿ0 P>ë€Ûÿÿÿÿë©¥O P0:P©˜TR˜T©©Ä0˜TmL8……©……………ßOßOYP………:P…………ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ˜T………………………"Qs: Strategic Management Journal Volume 46, Issue 1, January 2025 1. Title: Is knowledge really the most important strategic resource? A meta-analytic review Authors: Donald D. Bergh, Laura D'Oria, T. Russell Crook, Ashley Roccapriore Abstract: The knowledge-based view (KBV) claims that knowledge is the most important strategic resource because it is the strongest determinant of firm competitive advantage and the glue that pulls resources together. We examine this assertion through a meta-analysis of the accumulated evidence on the relationships among strategic resources and firm performance (stock market, financial performance, and growth). Findings from 348 samples reporting 248,136 firm-level observations show that knowledge resources have the highest positive association with all three performance dimensions, with the highest positive relationship with growth, followed by market and then financial performance. Further, knowledge may serve as a foundational resource by augmenting other strategic resources and helping make firms different. These findings support the KBV's core prediction that knowledge resources offer superior strategic value. 2. Title: Organizational adaptation in dynamic environments: Disentangling the effects of how much to explore versus where to explore Authors: Kannan Srikanth, Tiberiu Ungureanu Abstract: There is considerable debate about how firms should adapt to environmental dynamism. Theoretically, some scholars suggest that with increasing dynamism, firms should explore more, whereas others argue that firms should explore less. Empirical evidence remains mixed. We attempt to reconcile these mixed findings by (a) distinguishing between two facets of exploration—exploration propensity versus exploration breadth, and (b) recognizing that firms may make these two decisions using different decision-making processes. Using a computational model we show that with increasing environmental dynamism, for high performance, (a) firms' exploration propensity may increase, decrease, or stay the same depending on their decision-making process, but (b) firms' exploration breadth always increases. Our results help explain the mixed findings in this domain and have implications for future empirical work. 3. Title: How do US firms grow? New evidence from a growth decomposition Authors: Jagadeesh Sivadasan, Natarajan Balasubramanian, Ravi Dharwadkar, Charlotte Ren Abstract: Firm growth and its underlying modes are rarely examined on their own, which impedes our understanding of their relative importance, correlations among them and their associations with competition and future performance. We address these using a comprehensive seven-mode decomposition of employment growth in all US firms (2004–2013). We find that organic modes such as opening or closing plants contribute more than transactional modes such as acquisitions and selloffs, and that growth modes exhibit age-size differences and are generally positively correlated within firms. Trade competition in manufacturing increased closures and decreased acquisitions but had no effect on new units. Transactional growth positively correlates with future survival, unlike organic growth. Together, our findings expand our understanding of firm growth as a composite of multiple growth modes. 4. Title: Do patent assets have a second life when startups fail? An analysis of the redeployment likelihood and mode of transfer Authors: Carlos J. Serrano, Rosemarie H. Ziedonis Abstract: Entrepreneurial firms are fertile sources of patented inventions. Yet little is known about what happens to patent assets when startups go out of business: Do the assets have a “second life” through redeployment to new owners? Based on 264 failed VC-backed startups, we document an active market for the patents both as standalone assets and through co-movement with inventors to the purchasing organization. We then model and test how the redeployment likelihood and mode of transfer is shaped by trading thickness in the secondary patent market and the degree to which asset value is firm-specific and tied to the original venture. The study sheds new light on conditions that affect the redeployment of intangible assets and the abilities of startups to preserve value in liquidation. 5. Title: The competitive dynamics of strategic risk-taking, unethical behavior, and entry Authors: James Ostler Abstract: This article argues that strategic risk-taking in the form of unethical behavior can lead to successful entry and that this entry can drive incumbents to either adopt similar behavior or potentially be forced out of the market. Thus, entrepreneurs can introduce innovative, but socially destructive, behavior to a market and motivate its adoption by incumbents. Empirical support is found using a policy change in the liver transplant market to identify the use and adoption of unethical misrepresentation of patient health status. This article contributes to our understanding of entrepreneurial strategy as well as the competitive dynamics between entrants and incumbents in adopting new risky innovations and, in particular, unethical behaviors. 6. Title: Double-edged stars: Michelin stars, reactivity, and restaurant exits in New York City Authors: Daniel B. Sands Abstract: This article develops a theoretical framework to explicate how third parties, who are not transactionally involved in a given exchange relationship, can promote or impede the creation and capture of value by influencing market actor beliefs and behaviors. I investigate these issues empirically through an abductive mixed-method case study of the Michelin Guide's entry into New York City. An examination of two decades of the openings and closings of New York City's elite restaurants indicates that receiving a Michelin star corresponded to an increased likelihood of restaurant exit. Michelin stars appear to have fostered disruptions at recipients' upstream and downstream interfaces, which inhibited their ability to capture value. This ultimately underscores how value network reactivity to third-party evaluations may lead to unintended consequences for firms. 7. Title: Political competition and the rechanneling of corporate bribery into politically connected charity donations: Evidence from South Korea Authors: Yujin Jeong, Jordan I. Siegel Abstract: We examine the relationship between political competition, corporate bribery, and corporate contributions to politically connected charities, and whether there is a shift from covert to concealed corporate nonmarket action as political competition increases. Panel analysis using rare corporate bribery and charity donations panel data from South Korea reveals that as political competition increases, corporate bribery decreases, whereas corporate contributions to politically connected charities increase. Subsequent panel analysis uncovers that amid increased political competition, firms that made larger bribes in the prior year contribute more to politically connected charities in the subsequent year, and that this form of rechanneling is more pronounced for smaller business groups. Implications are discussed. 8. Title: Rewiring the organizational network: Corporate offsites and network tie formation Authors: Madeline K. Kneeland, Adam M. Kleinbaum Abstract: Social networks are integral to collaborative work, but research on network change has shed little light on the mechanisms firms use to stimulate collaborative network ties among their employees. In this study, we examine the effects of corporate offsites on the evolution of social networks within an organization. We find that offsites lead to rewiring of intraorganizational networks, but with a surprising asymmetry: they stimulate everyone to initiate more collaboration ties, but only those who attend the offsite receive more ties. These results are consistent with a conceptualization of offsites as direct interventions that focus on social interactions for those who attend, but also as indirect interventions that signal the value of collaboration to everyone, even those who do not attend. 9. Title: Economic nationalism and the home court advantage Authors: Arnab Choudhury, Srividya Jandhyala, Anand Nandkumar Abstract: Political and regulatory actors routinely adopt or enforce policies to protect domestic firms at the expense of foreign firms. However, since courts are expected to be neutral and act independently, a question arises whether (and why) they discriminate against foreign firms. We argue that the courts are nationalistic, which emanates from judges differentiating between in-group (domestic) and out-group (foreign) members. In a sample of 58,754 patent disputes adjudicated by US federal district courts between 1983 and 2016, we find domestic patent holders and challengers are more successful than their foreign counterparts. Rulings involving foreign firms are more likely to exhibit nationalistic rhetoric. Judicial ideology moderates the differential odds of success between domestic and foreign firms. 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