It has been long understood that value creation by corporate strategists is determined by their ability to effectively deploy resources across multiple business units. Recently, scholarly attention has been dominated by studies of "synergy", or sharing resources across businesses. However, a...

This paper introduces the volume on Resource Redeployment and Corporate Strategy, which is devoted to exploring a relatively new justification for how multi-business firms create value – having flexibility to internally redistribute non-financial resources across their businesses. We clarify...

In this article, we examine whether the option value of keeping an operation alive will deter firms from exiting an industry. We find that uncertainty dissuades firms from exiting an industry, but only when the sunk costs of entering and exiting that industry are sizeable. Moreover, we argue and...