This research investigates the effects of entrepreneurial orientation and external technology acquisition on the performance of technology-based new ventures in the context of a transitional economy. An analysis of the cross-sectional data from 123 Chinese technology-based new ventures was...

This case describes how Fujian CTS Group, a state-owned company in Fujian Province, China, transformed from a company suffering from three consecutive years of losses to a profitable conglomerate through strategic restructuring. This case focuses on the whole process of strategic restructuring,...

This paper shows the Fokker–Planck equation of a dynamical system driven by quasimonochromatic noise. Based on the Fokker–Planck equation and the definition of Shannon's information entropy, the exact time dependence of entropy flux and entropy production for the system is calculated. The...

We develop a model of investment with financial constraints and use it to investigate the relation between investment and Tobin's q. A firm is financed partly by insiders, who control its assets, and partly by outside investors. When their wealth is scarce, insiders earn a rate of return higher...

We extend the basic Schumpeterian endogenous growth model by allowing incumbents to undertake innovations to improve their products, while entrants engage in more “radical” innovations to replace incumbents. Our model provides a tractable framework for the analysis of growth driven by both...