This study adopts the resource-based view (RBV) to explain the difference in firm profit and growth determinants. We argue that profit is driven more by valuable, rare, inimitable, and non-substitutable (VRIN) resources, and growth is driven more by versatile resources. Since some versatile...

This paper studies how firms' innovation capability is related to their stock performance and eventual survival for a sample of biotech IPO firms. We create product-related measures of firms' innovation capability by tracking the changes in R&D expenses, products, patents, strategic alliances,...

This paper investigates how institutional environment like property rights protection influences the size and composition of corporate boards, and further, how board structure impacts firm performance in China. Using a World Bank survey of 2,400 public and private firms across 18 Chinese cities,...