The concept of shareholder value has been the subject of heated debate for 40 years. Surprisingly, the literature seems to overlook the fact that shareholder orientation by management is something completely different from the implementation of this idea in the well‐known shareholder value...

This article expands on previous studies of the so‐called low‐risk puzzle with concepts from cooperative game theory. To allocate portfolio risk to single assets, previous studies used concepts such as the Shapley value. In these concepts, the marginal contributions of assets to risks of...

Causal evidence for the effect of team size on performance is lacking despite the high relevance of this question. From an economic perspective, one would expect performance incentives to decrease with increasing team size, but the psychological phenomenon of peer effects could mitigate the...

Although sustainable competitive advantages in today's hypercompetitive economy call for strong management skills, the literature lacks a holistic understanding of the specific capabilities chief executive officers (CEOs) utilize to drive innovation. This article derives the dynamic CEO...

Organizational change often fails due to employees' resistance to change resulting in unforeseen expenses, delays, or other disruptions in organizations. In our experiment, we compare behavioral interventions—a pro‐change default rule and a pro‐change recommendation—with a costly pay...

We model a two‐legged tie between two teams as a two‐stage contest where each team chooses its attacking and defending effort for each leg. Assuming that each team has a home advantage for one of the matches, we analyze teams' preferences of order of play under different tiebreaking rules....