The effects of corporate restructuring on aggregate industry specialization
Article Abstract:
It has been proposed that the corporate restructuring frenzy in the 1980s was intended to increase the number of industry-specialized companies as a means of succeeding in an increasingly competitive global marketplace. A study is conducted to investigate whether such restructurings have indeed influenced the growth of industry specialization in the US during the 1980s. Data for the study are drawn from a sample of 686 companies with four-digit Standard Industrial Classification (SIC) codes and 64 firms with two-digit SIC codes. The results show a slight decrease in specialization within both the four-digit and the two-digit industries between 1981 and 1989. It is also found that aggregate industry specialization is not significantly related to sell-offs of businesses through intercompany asset sales or corporate control transactions.
Publication Name: Strategic Management Journal
Subject: Business
ISSN: 0143-2095
Year: 1996
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Doomed from the start: what is the value of selecting a future dominant design?
Article Abstract:
A study examined if the choice of product design is important to the survival and market share of a firm. In particular, this investigation sought to ascertain if firms are doomed from the start when they enter an emerging industry and choose a design that proves to be a non-dominant design. This research focused on the technology choices of manufacturing companies in the personal computer industry from 1957 to 1991. Findings revealed that firms are not doomed when their design choices upon entry do not become the dominant design. Early entrants that make the transition to the dominant design have higher chances of survival and market share. Moreover, even later entrants that make the switch to the dominant also demonstrate greater survival rates and market position.
Publication Name: Strategic Management Journal
Subject: Business
ISSN: 0143-2095
Year: 1999
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Knowledge, strategy, and the theory of the firm
Article Abstract:
The transaction-costs theory can be extended to incorporate the concept of knowledge in a manner that is relevant to the field of strategy research. Firms have an institutional role to play in generating and maintaining competitive advantage through the protection of important knowledge from expropriation and imitation. Firms can protect knowledge value by employing various organizational schemes not accessible to markets because property rights in knowledge are insufficient and are expensive to write and execute. Firms are ultimately capable of producing 'possession rights' to knowledge that are equally or more important than the limited property rights to knowledge covered by the law.
Publication Name: Strategic Management Journal
Subject: Business
ISSN: 0143-2095
Year: 1996
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