Firms in mature or declining industries are faced with the challenge of redeploying their excess resources to new applications, and M&A strategies can be an important component of this effort. I consider two ways in which excess resources are applied to more attractive business opportunities...

We analyze the impact of absolute and relative levels of a foreign investing firm's resources on the choice of foreign entry mode. Specifically, we study the relationship between the fungibility of a firm's capabilities and the propensity of foreign investors to acquire domestic firms. On one...

We analyze the impact of absolute and relative levels of a foreign investing firm's resources on the choice of foreign entry mode. Specifically, we study the relationship between the fungibility of a firm's capabilities and the propensity of foreign investors to acquire domestic firms. On one...