At the heart of business research is the identification and prioritization of the factors that create competitive advantage. Previous studies that decompose observed firm performance into industry and other effects have not considered the higher moments of the performance distribution (i.e., the...

The resource-based view-related empirical literature has focused on one-industry-one-focal-resource studies to provide support for its core tenets. We complement that literature with a first empirical analysis of multiple strategic factors, including opposing factors, and covering multiple...

Strategic Liabilities are processes and tangible and intangible holdings that are firm-specific, context-specific and create competitive disadvantage. They are scarce, inconvertible, costly, and appropriated. The concept of Strategic Liabilities contrasts and complements the resource-based...

Summary We analyze the strategic issue of inter-firm resource transfer - i.e., the methods firms use to buy and sell assets. We introduce a typology of asset sale mechanisms delineated by levels of information uncertainty. We analyze this typology, by exploring how firms choose among the...

An analysis of the impact of alliance activity during the period 1989-1993 on the performance of organizations in the US computing industry reveals that: (1) the distribution of alliance activity is skewed to firms with greater market power, capacity, as well as greater technical, commercial,...

Summary Using the last decade of Center for Research on Security Prices data and the Capital Asset Pricing Model model to compare firms, we assess the origins, paths and destinations of extreme firm performance. We find that firms that will experience a run of persistent superior (inferior)...