This article introduces a new metaphor for strategic management, namely, that of the strategy river. In comparison with the frequently used concept of path-dependency, the strategy river emphasizes time and timing, co-evolutionary interplay between strategies and institutional environments,...

This paper focuses on the relationship between incentive asymmetries and some potentially undesirable outcomes along the mergers and acquisitions (M&A) process which could potentially destroy the shareholder value of the merged corporate entity. Incentive asymmetries are seen as belonging to the...

In this study, we analyze the Finnish retail industry in 1945--1995. Triangulating the major developments in society, technology, and firm-level strategic choices, we identified extensive variation in the sources of competitive advantage over time. We found that the structural and...