Rethinking the traditional understanding of organizational purpose appears to be necessary. A teleological paradigm shift seems to be on its way, changing the focus of attention from considering business organizations as instruments used to generate profits toward a more comprehensive...

Purpose: Information Technology (IT) is developing at an accelerated rate, making it virtually impossible to separate business and IT strategies. Consequently, the IT strategy of an entity must be integrated with its overall business strategy in order for IT to add value to an entity. It is...

Pharmaceutical firms spend billions of dollars to develop the next breakthrough drug and to maintain their market shares. We investigate how pharmaceutical firms use mergers and acquisitions to boost their innovation performance which has been found to result in better performance outcomes....

In economies with private firm ownership, when markets are incomplete, and firm shareholders change over time, there is no broad agreement on what ought to be a firm's objective. It is shown that ex-post, profit maximization is consistent with shareholder preferences in such economies; that is,...

Customer defection threatens many industries, prompting companies to deploy targeted, proactive customer retention programs and offers. A conventional approach has been to target customers either based on their predicted churn probability, or their responsiveness to a retention offer. However,...

Using 14,800 forecasts of one-year S&P 500 returns made by Chief Financial Officers over a 12-year period, we track the individual executives who provide multiple forecasts to study how their beliefs evolve dynamically. While CFOs' return forecasts are systematically unbiased, their confidence...